Initial Disclosure Document:
1. The Financial Services Authority (FSA) |
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The FSA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you. |
2.Whose products do we offer? |
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Insurance |
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We offer products from a range of insurers. |
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We only offer products from a limited number of insurers for pure protection insurance, buildings and contents insurance and accident, sickness and unemployment insurance. Ask us for a list of insurers we offer insurance from. |
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We only offer products from Payment shield for buildings and contents insurance and accident, sickness and unemployment insurance. |
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Mortgages |
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We offer mortgages from the whole market. |
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We only offer mortgages from a limited number of lenders. |
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We only offer mortgages from a single lender. |
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3. Which service will we provide you with? |
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Insurance |
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We will advise and make a recommendation for you after we have assessed your needs for life and critical illness insurance, buildings and contents insurance or mortgage payment protection insurance. |
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You will not receive advice or a recommendation from us for private medical insurance. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed. |
Mortgages |
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We will advise and make a recommendation for you after we have assessed your needs. |
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You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed. |
4. What will you have to pay us for our services? |
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Insurance |
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A fee for pure protection insurance, accident sickness and unemployment insurance or buildings and contents insurance. |
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We may charge a fee of up to £995, which will be payable upon completion of your mortgage. We will also be paid commission from the lender. |
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No fee for pure protection insurance, accident sickness and unemployment insurance or buildings and contents insurance. |
You will receive a quotation which will tell you about any other fees relating to any particular insurance policy. |
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Mortgages |
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No fee. We will be paid by commission from the lender. |
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A fee of £ nil payable at the outset and of up to £995 payable when your mortgage completes. [We will also be paid commission from the [lender/company.] |
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You will receive a key facts illustration when considering a particular mortgage, which will tell you about any fees relating to it. |
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Refund of fees If we charge you a fee, and your mortgage does not go ahead, you will receive: |
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A full refund will be paid if the lender rejects your application. |
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A refund of £xx if your application falls through. |
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No refund if you decide not to proceed. |
5. Who regulates us? |
NSP Financial Services Ltd is an appointed representative of Intrinsic Mortgage Planning Ltd, Wakefield House, Aspect Park, Pipers Way, Swindon, SN3 1SA which is authorised and regulated by the Financial Services Authority. Intrinsic Mortgage Planning Ltd’s FSA Register number is 440718. The permitted business of Intrinsic Mortgage Planning Ltd is advising on and arranging mortgages, general insurance and life insurance. You can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234. |
6. Loans and ownership |
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Sanlam Netherlands Holdings BV owns 25% of the share capital of Intrinsic Financial Services Limited. Friends Provident Life and Pensions Ltd owns 19% of the share capital of Intrinsic. Bank of Scotland has provided Intrinsic with an un-utilised loan facility of £3.5m. |
7. What to do if you have a complaint |
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If you wish to register a complaint, please contact us: In writing: Write to Compliance Department, Intrinsic Mortgage Planning Ltd, Wakefield House, Aspect Park, Pipers Way, Swindon, SN3 1SA. By phone: Telephone 01793 647400. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. |
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8. Are we covered by the Financial Services Compensation Scheme (FSCS)? |
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We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. |
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Insurance |
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Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. |
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Mortgages |
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Mortgage advising and arranging is covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000. |
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Further information about compensation scheme arrangements is available from the FSCS. |
Terms of Business
This document sets out the terms of business between Intrinsic Financial Services and its clients.
Investment Advice and Recommendations
Any investment advice your adviser provides will be based on your personal financial objectives. We will confirm these objectives, and the reasons for each recommendation in a 'Reason for Recommendation' letter. If you have asked for any restrictions on the types of investment or the markets you wish to invest in, these will be confirmed in the Reason for Recommendation letter.
Your Duty of Disclosure
It is your responsibility to provide complete and accurate information to insurers when you take out an insurance policy. It is important that all statements made on the proposal form, or on any additional documentation are full and accurate. Please be aware that if you fail to disclose any relevant information, or any change of circumstances to your insurer then any claim may not be paid. We strongly recommend that the information you provide is checked thoroughly prior to submission.
Acting in your Best Interests
If any material interest or conflict of interest should arise in business that we are arranging for you, we will let you know and ask for your consent before we carry out your instructions.
Your Rights and Client Classification
The FSA has rules which affect the rights you have as a customer.
We classify all our individual customers as 'private' customers. As a private customer you have rights under the Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS). These are set out in the Initial Disclosure Document – 'What to do if you have a complaint' and 'Are we covered by the Financial Services Compensation Scheme' sections. We have internal complaint handling procedures available – ask us if you would like a copy.
There are other classifications of customer that don't have these rights. These are 'Intermediate' customers - such as listed companies, local authorities and larger partnerships or trusts. Also market counterparties (e.g. national governments and other state bodies, banks or regulated financial services firms).
If you'd like to know whether you would be classified as an intermediate customer or a market counterparty, please write to Intrinsic Financial Services Ltd Compliance Department, Wakefield House, Aspect Park, Pipers Way, Swindon, SN3 1SA or to the Financial Ombudsman Service and FSCS.
These Terms of Business will apply from 19/01/2006 and will remain valid until further notice. We reserve the right to change them or anything in them at any time. Either we or you can end them at any time, without penalty and this will not affect any outstanding transactions being carried out on your behalf.
Data Protection Act 1998
The personal information you provide will assist your financial adviser in offering you the best advice as required by the Financial Services and Markets Act 2000. The personal data you provide will be used and stored in accordance with the Data Protection Act 1998. You have a right to access all the personal information that Intrinsic Financial Services holds about yourself. To receive this we must receive a written request including a £10.00 fee made payable to Intrinsic Financial Services.
Client Money
We do not handle Client Money. We never handle cash and will not accept a cheque made out to us (unless it is a cheque in settlement of monies owed to us).
Governing Law
This agreement shall be governed and construed in accordance with the laws of England and Wales. In relation to any dispute, the client irrevocably agrees to submit to the non-exclusive jurisdiction of the English courts.
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6.29%
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6.14%
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7.19%
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