Terms of Business

These Terms of Business are effective from 28/9/2020 and set out the general terms under which Lending Hand Mortgages will provide business services to you and the respective duties and responsibilities of both us and you in relation to such services. Please ensure that you read these terms thoroughly and if you have any queries, we will be happy to clarify them. If any material changes are made to these terms, we will notify you.

Authorised Status and Statutory Codes

Broker Assist Ltd T/a One Network, One Platform, Broker Assist, Lending Hand & Lending Hand Mortgages is regulated by the Central Bank of Ireland.  Our regulatory reference number is C12675.  Lending Hand Mortgages is subject to the Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards.  Both our authorisation status and above codes can be verified by the Central Bank of Ireland which can be accessed on www.centralbank.ie:

Services Provided

Lending Hand Mortgages principal business is to provide advice and arrange transactions on behalf of clients in relation to Life products and mortgage products. We are not under a contractual obligation to conduct Insurance distribution business exclusively with one or more Lender and do not give advice on the basis of a fair and personal analysis, we do however provide advice from the selection of products provided by the Companies and Lenders we have agencies with.  We recommend the product that, in our professional opinion, is best suited to your needs and objectives from this selection of products.

A full list of insurers, product producers and lending agencies with which we deal with are as follows;

Life Providers

Mortgage Lenders

Aviva Life & Pensions Ireland Dac

Dilosk Dac

New Ireland Assurance Company plc

Haven Mortgages

Royal London

KBC Bank Ireland plc

Zurich Life Assurance plc

Permanent TSB plc

Finance Ireland

Seniors Money Mortgages (Ireland) DAC


Mortgages

Lending Hand Mortgages provides advice on and arranges mortgage products on a limited analysis of the market with the lenders we have agencies with.  Lending Hand Mortgages will need to collect sufficient information from you before we can offer any advice on mortgages. This is due to the fact that a key issue in relation to mortgage advice is affordability. Such information should be produced promptly upon our request. Where the creditor is unable to carry out an assessment of creditworthiness because the consumer chooses not to provide the information or verification necessary for an assessment of creditworthiness, the credit cannot be granted.

Disclosure of information

We act as your representative to the companies we have agencies with and we will provide assistance to you for any queries you may have in relation to the policies or in the event of a claim during the life of the policies and we will explain to you the various restrictions, conditions and exclusions attached to your policy. However, it is your responsibility to read the policy documents, literature and brochures to ensure that you understand the nature of the policy cover. Material information about medical history, non-smoker status, occupation category and any hazardous pursuits are central to underwriting decisions and it is imperative that all information you provide to the insurer is accurate and complete.

You are under a duty to answer all questions posed by the insurer or ourselves on your behalf, honestly and with reasonable care. It is presumed, unless the contrary is shown, that you would know all questions in an application or at renewal is material to the risk undertaken by the insurer or the calculation of the premium by that insurer, or both. Any failure to disclose material information may invalidate a claim and render your policy void.

You must inform and disclose any material information including any material changes that might take place between the time you complete an application form and the time your pay the first premium.

To assist us in providing you with a comprehensive service and to keep our records as up-to date as soon as possible, please notify us of any changes to your personal circumstances, e.g. name change, change of address, etc.

The acceptance by Lending Hand Mortgages of a completed proposal DOES NOT in itself constitute the effecting of a policy, it is only when the Insurer/lender confirms the policy is effected and your policy is live.

Remuneration

Lending Hand Mortgages is remunerated on a commission basis and other payments from product producers and lenders on completion of your business. The amount of commissions paid to us is confirmed prior to you transacting business by our advisor and by the institution involved in underwriting the required policy.  For mortgages, we may receive up to 1% (or whatever maximum is applicable) of the loan for arranging mortgage finance. This commission is paid by the mortgage lender. The actual amount of commission will be disclosed at a later stage in the ESIS (European Standardised Information Sheet) which will be forwarded to you at loan offer stage.  You have the right to request the variation in levels of commission payable by the different lenders we have agencies with. Where recurring commission is earned by us from the product producers, we will provide an on-going service to you and we will provide you with an annual update on your Investment business.

A summary of the details of all arrangements for any fee, commission, other reward or remuneration paid or provided to us by the product producers” is available on our website. If you need further explanation on this information, please do not hesitate to call us.

Charges

Lending Hand Mortgages may also charge a fee for any services provided but no fee will be charged until it has been confirmed to you in writing and the charge is accepted by you in writing prior to commencing any advice. 

Receipts

Lending Hand Mortgages will issue receipts for each payment received.  We recommend that all cheques or negotiable instruments are made payable to the appropriate Financial Institution/Product Provider.  We may only accept money in respect of a premium from clients in circumstances permitted, i.e. where the money represents premiums in respect of either a renewal of a policy which has been invited by an insurance undertaking, or a proposal accepted by an insurance undertaking. Every effort is made to ensure that clients’ money is transmitted to the appropriate Financial Institution/Product Provider without delay.

Default of payments by clients

Lending Hand Mortgages will, if necessary exercise its legal rights to receive any payments due to it from clients for business services provided by it and, to be reimbursed for any value obtained by Lending Hand Mortgages on behalf of clients who subsequently default in any payment due to the firm.  Product producers may withdraw benefits or cover on default of any payments due under any products arranged for your benefit. Details of these provisions will be included in your product terms and conditions.

Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments. Your home is at risk if you do not maintain your agreed repayments. You are strongly advised to contact your lender in the event you are having problems with your payments.

Conflict of Interest Policy

It is Lending Hand Mortgages policy to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise, we will advise you of this in writing before proceeding to provide any business service and agreed by you prior to completing any business with us.  If you have not been advised of any such conflict you are entitled to assume that none arises. As per our remuneration policy above, we receive commission from the lenders and companies we have agencies with for the business you transact.

Data Protection

Lending Hand Mortgages complies with the Data Protection Act, 1988 and 2018, treating all personal data as confidential information.  We will use this data only for the purpose(s) intended. Lending Hand Mortgages will not disclose such information except as permitted by you or as required by law. We will provide you with a separate Data Privacy Notice.

Regular Reviews

It is in your best interests that you review, on a regular basis, the products & advice which Lending Hand Mortgages has provided for you.  As your circumstances change, your needs will change. You are strongly advised to contact us in the event of any change in your circumstances or requirements and request a review of the relevant policy and advice so that we can ensure that you are provided with up to date advice and products best suited to your needs.

Complaints Procedure

Lending Hand Mortgages has a complaints procedure in place, complaints can be by telephone, in writing, email or face to face. If the complaint is not in writing or by email, we will write to you to confirm our understanding of your verbal complaint.  We will respond to complaints in a courteous, timely and fair manner. All complaints should be made to: Lending Hand Mortgages, 120/121 Baggot Street Lower, Dublin 2. Lending Hand Mortgages endeavour to address the specific issues raised by our customers, to achieve a situation where our customer feels we have addressed the complaint. Where customers remain dissatisfied with the outcome of our efforts to resolve their complaint, we will advise you of your right to refer your grievance to the Financial Services & Pensions Ombudsman.  Contact details as follows; Financial Services & Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2.  Lo call 01 5677000, info@fspo.ie.

Investor Compensation Scheme

Lending Hand Mortgages is a member of the Investor Compensation Scheme, which provides certain remedies to eligible clients on default by the firm. Your legal rights against the firm are not affected by this scheme. The Investor Compensation Act, 1998, provides for the establishment of a compensation scheme to certain clients (known as eligible investors) of authorised investment firms, as defined in that Act.  Compensation may be payable where money or investment instruments owed or belonging to clients and held, or in this case of investment instruments, administrated or managed by this firm cannot be returned to those clients for the time being and there is no reasonably foreseeable opportunity of the firm being able to do so.  A right to compensation will arise only:

If the client is an eligible investor as defined in the Act,

If it transpires that this firm is not in a position to return client’s money or investment instruments owned or belonging to the clients of the firm, and

To the extent that the client’s loss is recognised for the purposes of the Act.

Where an entitlement to compensation is established, the compensation payable will be the lesser of:  90% of the amount of the client’s loss which is recognised for the purposes of the Investor Compensation Act 1998 or Compensation of up to Eur20, 000.  For further information, contact the Investor Compensation Company Ltd. at (01) 224 4955.

Governing Law and Business Succession

These Terms of Business shall be governed by and construed in all respects according to the laws of the Republic of Ireland and will be deemed to cover any successors in business to Lending Hand Mortgages.

Broker Assist Limited t/a One Network, One Platform, Broker Assist, Lending Hand, Lending Hand Mortgages is Regulated by the Central Bank of Ireland. Reg No. 222472.

Directors: David Hurley, Francis Ryan. Denshaw House, 120/121 Baggot Street Lower, Dublin 2.

Email: mymortgage@lendinghand.ie. Telephone: 1800 82 82 82