Terms of business
- John Charcol is a trading style of Towergate Financial (West) Ltd, which is authorised and regulated by the Financial Conduct Authority; our registration number is 147692.
- John Charcol Associates LLP is an appointed representative of Towergate Financial (West) Ltd, which is authorised and regulated by the Financial Conduct Authority.
- The FCA does not regulate some investment mortgage contracts.
- Registered office: Towergate House, Eclipse Park, Sittingbourne Road, Maidstone, Kent ME14 3EN. Registered in England No: 02292688.
2. Regulatory Status
- 2.1 Towergate Financial is authorised and regulated by the Financial Services Authority
- 2.2 The Financial Services Authority is the principle regulatory body for Financial Services in the UK. They can be contacted at The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS Tel: 020 7066 1000 or by visiting their website www.fsa.gov.uk/contact
- 2.3 The FSA does not regulate some investment mortgage contracts.
3. Our Rumeneration
- 3.1 There will be a minimum fee for our service of £450, of which £150 is payable when you apply, and we will retain the commission from the lender. Alternatively, you can choose the fee only option which is typically 0.65% of the amount borrowed. The precise amount will depend on your circumstances and loan amount, and will be discussed and agreed before you make an application.
- 3.2 We will confirm the amount we receive from procuration fees from Mortgage lenders to you in writing before you take out your mortgage. Any fees payable by you, in connection with your new mortgage, will be shown on each product illustration. Please note that these fees exclude any legal fees you may have to pay and we recommend that you ascertain what these fees may be prior to taking out your mortgage.
- 3.3 In addition we may charge a booking fee of £75 in respect of the exclusive or semi-exclusive mortgages we offer.
4. Non-investment insurance
- 4.1 John Charcol arranges non-investment insurance contracts.
- 4.2 We will carry out any instructions you give us to effect such contracts.
- 4.3 We do not provide any Insurance Policy that relies on investment returns to do its job.
- 4.4 We do not provide any policy that would require the claimant to make investments for it to achieve its purpose.
- 4.5 We do not normally provide plans that extend beyond the term of the mortgage or into retirement.
- 5.1 Where these terms of business are given in respect of a "distance contract", that is services provided though a website or by phone.
- 5.2 Under MCOB 4.6 in circumstances where John Charcol acts contractually on your behalf, you may have the right to cancel your contract prior to the submission of your application to the lender.
- 5.3 Your rights of cancellation will take effect from the date the contract with John Charcol is concluded or the day you receive contractual terms and conditions in a durable form and will be effective for 14 days after this date.
- 5.4 To cancel, you can email us or write to us (see contact us for details)
- 5.5 John Charcol will not make any charge or apply a penalty if you cancel the contract. You must pay for any transactions initiated prior to termination at your express request and a due proportion of any fees applicable.
- 6.1 Subject to point 6.2, you or we, may terminate this agreement at any time, without notice period.
- 6.2 Notice of termination by you must be given in writing to our head office. The agreement will terminate upon our receipt of such notice.
- 6.3 Notice of termination by us must be given in writing to you. We will normally send such notice by post to your last known address.
- 6.4 Termination of the agreement is without prejudice to the completion of any transactions initiated prior to receipt of such notice. Existing policies and loans will be unaffected.
- 6.5 These terms of business will automatically terminate should you die.
- 6.6 These terms of business have no minimum period during which they must remain applicable.
- 7.1 At our discretion and unless we hear from you to the contrary we may email or telephone you from time to time between the hours of 9am to 9pm without your further prior consent to such contact. We will not do so for the purpose of qualifying credit promotions unless you have expressly given us permission to do so, or you are an established existing customer.
- 7.2 When you transact John Charcol, we will send you service and marketing email updates on our products and services, according to the information you provide at the point of registration. You will be given the opportunity and instructions on how to unsubscribe from these emails when you register and on each email we send to you.
- 7.3 All documents will be sent by post to your last known address and shall be sent at your own risk. We will not be responsible for lost documents or any consequences that may arise from any error or failure of the postal system. For documents of value, this will be by registered post - otherwise first class mail will be used.
- 7.4 You may communicate with us by writing, phoning or sending an email to our head office. There is no additional charge.
If you make a valid claim against us in respect of the mortgage or insurance we arrange for you, and we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme; details of the cover provided by the Scheme are available on request. Further information is available from the FSA and the Financial Services Compensation Scheme.
9. Verifying identity
We are required by law to verify your identify. This will be required at the outset of our dealings with you and we will not submit an application for a mortgage or term assurance policy of other financial product until such verification has been obtained.
10. Your policies and legal documents
All policies will be registered in your name unless otherwise agreed in writing. Unless you instruct us in writing to the contrary, we will forward to you all documents showing ownership of your policies as soon as practicable after we receive them. Where a number of documents of title are involved we will await arrival of all of them before sending them to you.
11. Your money
We do not handle client money in any instance.
- 12.1 The law governing this agreement both before and after completion is the law of England and Wales.
- 12.2 We normally require our clients to give us instructions in writing, to avoid possible disputes, but we shall be entitled, at our sole discretion, to act upon your oral instructions. We can refuse your instructions at our discretion.
- 12.3 We may vary the terms of this agreement by writing to you at your last know address. Proof of delivery to this address will constitute proof of notice being served.
The contract is in English and communication between us will be in English.
Other taxes or costs may exist which are not paid through us or imposed by us.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE