These Terms of Business set out the general terms under which our firm will provide business services to you and the respective duties and responsibilities of both the firm 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. 

Authorisation with the Central Bank of Ireland

Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations 2018; as an Investment Intermediary authorised under the Investment Intermediaries Act, 1995 as amended and as a Mortgage Intermediary authorised under the Consumer Credit Act, 1995, as amended. Copies of our regulatory authorisations are available on request. The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank of Ireland on 1890 777 777 or alternatively visit their website at www.centralbank.ie to verify our credentials. 

Codes of Conduct

Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages is subject to the Consumer Protection Code, Minimum Competency Code, Fitness & Probity Standards and Handbook of Prudential Requirements for Investment Intermediaries which offer protection to consumers. These Codes can be found on the Central Bank’s website www.centralbank.ie

Services

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages offer advice in relation to all aspects of mortgage finance and also in relation to life assurance products (Term Cover, Serious Illness and Permanent Health Insurance) and General Insurance including Mortgage Repayment Protection cover, Pensions and Investments. Recommendations given by Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages are based on our understanding of the market today, factors influencing our recommendations may change over time and Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages cannot be responsible for keeping clients informed of any future changes. It is important to note we transmit orders on client’s behalf to any of the insurance undertakings or product producers from whom the Company hold letters of appointment. A list of all such entities is contained elsewhere in these Terms of Business. Our firm provides advice on a fair analysis of the market. “Fair and personal analysis of the market” means that our firm provides its services on the basis of a sufficiently large number of contracts and product producers available on the market to enable our firm to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet our clients consumer’s needs. When our firm provides non-life services to clients we provide this service on a limited analysis basis meaning that our firm provides non-life services on the basis of a limited number of contracts and product producers available on the market. Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages cannot be held responsible for any underwriting policies with the lending institutions or insurance companies we hold agencies with, these policies are a matter for the respective institutions. Approval in Principles/Loan Offers are subject to change, Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages take no responsibility for any decision by a lender to amend or revoke a formal or informal offer from lending institutions or insurers.

If you are being recommended/provided with a Serious Illness product, please pay attention to all policy documentation issued to you, in particular please note the restrictions, conditions and general exclusions that are attached to the policy.

Remuneration Policy:

Life Assurance

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages may receive commission and other payments from the product producer to whom orders are transmitted. Summary details of these payments will be included in a product information document/customer information guide, which you are legally entitled to receive before an application for a product is completed, and full details will be included with your customer information guide in your application pack.

Mortgage Business

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages is in receipt of mortgage commissions from lenders at a rate of up to 1% of the value of the amount borrowed, details will be included in your Mortgage Reasons Why document. A list of lenders whom Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages hold agencies with is listed in this document. 

Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages charges a once off application fee of a minimum of €195 which is non-refundable. Clients of Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages have the option of dealing with us on a fee only basis for the services we provide.

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages may make sub-commission payments to Introducers of mortgage business to the company. All recipients of such sub-commission payments must be registered by the Central Bank of Ireland as a Mortgage Intermediary.

Financial Review

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages in the case of Full Financial Reviews where the firm is not in receipt of commission, will charge a service fee, agreed with clients, depending on complexity of the transaction, time spent and nature and extent of the transaction. 

General Insurance

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages is a tied agent for General Insurance with Allianz. Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages is paid for the service we provide to clients by means of a remuneration agreement with Allianz, the details of this remuneration are available on request.

Regular Reviews/Maintenance of Financial Products

It is in your best interests that you review, on a regular basis, the products which we have arranged for you. As your circumstances change, your needs will change. You must advise us of those changes and request a review of the relevant policy so that we can ensure that you are provided with up to date advice and products best suited to your needs. Failure to contact us in relation to changes in your circumstances or failure to request a review, may result in you having insufficient insurance cover and/or inappropriate investments. 

Conflict of interest

It is the policy of Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages to avoid a 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 services. If you have not been made aware of any such conflict you may assume that none arises.

Default Remedies

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages actions in the event of default by the client are:

Product providers are entitled to withdraw benefit or cover on default of any payments due under any products arranged for your benefit. It is therefore critical to the guaranteed continuance of your insurance that your premium is paid in full. Some insurers may include as a term of the insurance a settlement due date or in some cases a warranty under the terms of which the premium must be paid to them by a certain date. We inform our clients of such requirements and the relevant date in good time to allow the payment terms to be met. Failure to comply with the terms of the warranty may mean that the insurers obligation under the policy will be terminated.  Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages cannot take responsibility for default payments.

An outline of the action and remedies which the relevant product producers may take in the event of default by a client is included in the product producers policy document.

Our firm will exercise its legal rights in order to obtain any payments due to it from our clients.

Material Facts

It is vital to make full disclosure of relevant facts, including: a) your medical details or history; and b) any previous insurance claims made by you for the type of insurance sought. Failure to disclose all information may result in i) that a policy may be cancelled; ii) that claims my not be paid; iii) you may encounter difficulty in trying to purchase insurance elsewhere; and iv) in the case of property insurance, that the failure to have property insurance in place could lead to a breach of the terms and conditions attaching to any loan secured on that property. Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages cannot take responsibility for failure to disclose material facts throughout the application process.

Complaints Procedure

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages has in place a written procedure for the handling of complaints. This procedure ensures that all complaints are recorded and acknowledged within 5 business days. All complaints are fully investigated and the complainant updated at intervals of not greater than 20 business days. We will attempt to investigate and resolve a compliant within 40 business days.

All complaints should be directed in writing to Mr Peter Magee, Complaints Officer, Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages Unit 3 Boyne House, Custom House Square, IFSC, Dublin 1. 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 Financial Services and Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2

Data Protection

Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages complies with the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018.

Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages is committed to protecting and respecting your privacy. We wish to be transparent on how we process your data and show you that we are accountable with the GDPR in relation to not only processing your data but ensuring you understand your rights as a client.

The data will be processed only in ways compatible with the purpose for which it was given and as outlined in our Data Privacy Notice, this will be given to all our clients at the time of data collection.

We will ensure that this Privacy Notice is easily assessible. Please refer to our website www.sherryfitz.ie/privacynotice, if this medium is not suitable we will ensure you can easily receive a copy by hard copy.

Investor Compensation Scheme 

The Investor Compensation Act, 1998 provides for the establishment of a compensation scheme and the payment, in certain circumstances, of compensation to certain clients (known as eligible investors) of authorised investment firms, as defined in that Act. 

The Investor Compensation Company Ltd. (ICCL) was established under the 1998 Act to operate such a compensation scheme and our firm is a member of this scheme. 

Compensation may be payable where money or investment instruments owed or belonging to clients and held, administered or managed by the firm cannot be returned to those clients for the time being and where 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; and 
  • If it transpires that the firm is not in a position to return client 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 €20,000. 

For further information, contact the Investor Compensation Company Ltd at (01) 224 4955.

Client’s Money:

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages will accept payments by cheque and cash 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.

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:

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages will issue receipts for each payment received pursuant to Section 30 of the Investment Intermediaries Act 1995 and such receipts will be retained in a safe place.


Name of Product ProviderNature of the Products
Ulster Bank Ireland
KBC Bank Ireland Plc
Permanent TSB plc
Haven Mortgages
Dilosk 
Pepper Homeloans
Mortgage Finance
Scottish Provident Institution t/a Phoenix
New Ireland Assurance Company
Irish Life
Zurich Life
Royal London
Friends First
Aviva
Standard Life
Canada Life
Scottish Mutual
BCP
Wealth Options
ITC
Life Assurance/Pension/Investment
Allianz
Non-Life Insurance
Irish Life & Permanent
KBC Bank Ireland Plc
Deposits


Effective Date: 30th October 2018