Terms of Business Multi Agency Intermediary & Mortgage Intermediary

Authorised Status:
Parkborough Ltd t/a The Mortgage Advice Shop is regulated by the Financial Regulator as a Multi Agency Intermediary and a Mortgage Intermediary. A copy of the company’s Authorised Status as contained in these Terms of Business.
Parkborough Ltd t/a the Mortgage Advice Shop is a member of The Independent Mortgage Advisors Federation and a member of the Professional Insurance Brokers Association.

Services:
Parkborough Ltd t/a the Mortgage Advice Shop offer advice in relation to non-life insurance (motor, property. Liability and personal accident) and also in relation to life Insurance products (term cover, serious illness, pensions, savings investments and domestic, commercial and residential investment mortgages and transmit
orders on clients behalf to any of the insurance undertakings, lenders or product producers from whom the Company hold letters of appointment. A list of all such entitles is contained elsewhere in these Terms of Business.

Remuneration Policy:

General Branch:
In addition Parkborough Ltd t/a The Mortgage Advice Shop, in respect of personal lines business, may charge a
service fee per policy (at inception and renewal) of up to 5% subject to a minimum of €50. A service fee of up to
€75 is charged in respect of mid term adjustment to contracts.

Life Assurance & Investment Business:
Parkborough Ltd t/a The Mortgage advice shop, in the case of life assurance/investments contracts where the firm is not in receipt of commission, will charge a service fee, agreed with clients, depending on complexity the transaction, time spent and nature and extent of the transaction.

Mortgage Business:
Parkborough Ltd t/a The Mortgage Advice Shop is in receipt of mortgage commission from lenders at a rate of Up to 1% of the value of the amount borrowed. A list of lenders whom Parkborough Ltd t/a The Mortgage Advice
shop hold agencies with is listed in this document. Parkborough Ltd t/a The Mortgage Advice shop may charge an administration fee of 0.5% for arranging your mortgage finance. Your mortgage consultant will individually agree this fee with you. Parkborough Ltd t/a The Mortgage Advice Shop may additionally receive renewal commissions of 0.1% from lenders stated in this document, for business placed on an ongoing basis.

Conflict of Interest:
It is the policy of Parkborough Ltd t/a The Mortgage Advice Shop to avoid conflict of interest when providing services to clients. Where an unavoidable conflict arises we will advise you of this in writing before providing any business service. If you have not been of any such conflict you may assume that none arises. Parkborough Ltd t/a The Mortgage Advice Shop may be receipt of soft commissions from the following insurance Undertaking and Mortgage Lenders-list any company from which soft commissions are received. Parkborough Ltd t/a The Mortgage Advice Shop may additionally receive renewal commissions of 0.1% for Business placed on an ongoing basis.

Complaints Procedure:
Parkborough Ltd t/a The Mortgage Advice Shop has in place a written procedure for the handling of complaints. This procedure ensures that all complaints are recorded and acknowledged within 14 days. All complaints are fully investigated and the complainant updated (if revelent) at 4 weekly intervals. All complaints should be directed to Anita Cambie, The Compliance Officer, The Mortgage Advice Shop, 28 Patrick Street, Waterford. In the event that a client remains dissatisfied with the handling of and /or response to a complaint they may refer
the matter to the Irish Financial Services Regulatory Authority, PO Box 559, Dame Street. Dublin 2, telephone 1890200469

Consumer Protection:
Parkborough Ltd t/a The Mortgage Advice Shop is a member of the investor Compensation Scheme established under the investor Compensation Act 1998. The legislation provides for the establishment of a compensation scheme and to the payment in certain circumstances, of compensation to clients of firms covered by the Act. However you should also be aware that a right to compensation would only arise where money or investment Instruments held by this company on your behalf cannot be returned either for the time being or for the foreseeable future and where the client falls within the definition of eligible investor as contained in the Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of the client’s loss, which is recognised as being eligible for compensation or €20,000. Parkborough Ltd t/a The Mortgage Advice Shop is in addition bonded for the sum of 1.5 million aggregate and €250K aggregate in relation to mortgage business.

Client’s Money
Parkborough Ltd t/a The Mortgage Advice Shop will accept payments in cash, cheque or bankers credit in respect of all classes of insurance in the circumstances permitted under Section 25G of the investment intermediaries Act 1995. Payments must represent premium in respect of either a renewal of a policy, which has been invited by an insurance undertaking or product producer or a proposal accepted by an insurance undertaking or product producer.Parkborough Ltd t/a The Mortgage Advice Shop is not authorised to accept cash or negotiable instruments in any other circumstances.

Credit Policy:
We regret that credit cannot be extended to clients in respect of premiums, initial, renewal or additional. Initial or first premiums must be paid at inception of cover and renewal premiums before the policy renewal date otherwise the Company will advise the insurance undertaking or product producer involved and cover will be cancelled.

Receipts:
Parkborough Ltd t/a The Mortgage Advice Shop will issue receipts for each payment received pursuant to Section 30 of the investment intermediaries Act 1995 and should be retained in a safe place.

Data Protection:
Parkborough Ltd t/a The Mortgage Advice Shop is registered as a Data Processor under the Data Protection Act 1988, amended 2003. You may have entitlements under the Date Protection Act to inspect all personal information held on file by
Parkborough Ltd t/a The Mortgage Advice Shop upon request and to require Parkborough Ltd t/a The Mortgage Advice Shop to correct any errors of fact that may exist. Any requests should be forwarded to the Compliance Officer.

Insurance Undertaking:
The following are a list of insurance undertakings and product producers from which letters of appointment are held.

In the Event of Default of Payment of your Insurance Policy
A 30 day grace period is allowed by Product Producers for premiums to be collected on each anniversary of the policy. If you fail to maintain payment of your insurance premium your Insurance Company will be notified and your cover cancelled. Therefore your home or other property may be at risk.