These Terms of Business set out the basis on which John Mullane Mortgage and Financial Services Ltd. t/a GVM Mullane Financial Services will provide business services to you as an individual private client of the firm. Please take a few minutes to read through these and if you have any questions I will be happy to answer them.
John Mullane Mortgage and Financial Services Ltd. t/a GVM Mullane Financial Services is regulated by the Central Bank of Ireland. John Mullane Mortgage and Financial Services Ltd. t/a GVM Mullane Financial Services is authorised in Ireland to provide the investment instruments tracker bonds, PRSA’s and insurance policies under Section 10 of the Investment Intermediaries Act, 1995, as amended. Our firm is also registered as an insurance/reinsurance intermediary under European communities (Insurance Mediation) Regulations, 2005 (as amended). We are an authorized mortgage intermediary under the Consumer Credit Act, 1995 as amended and as a Mortgage Credit Intermediary under the European Union (Consumer Mortgage Credit Agreements) Regulations 2016. Our firm is also authorisied as a deposit broker. Copies of our statements of Authorised Status from the Central Bank of Ireland are on display in our office and available on request.
GVM Mullane Financial Services has its office at the following location:
25-26 Glentworth Street, Limerick.
T: 061 469 700 F: 061 469 702 M: 087 251 1916
Codes of Conduct
Our firm is subject to the following Codes of conduct issued by the Central Bank of Ireland as listed hereunder: Consumer Protection Code 2012 (as amended), Minimum Competency Code 2011, Fitness and Probity Standards and Prudential Handbook for Authorised Advisors and Restricted Intermediaries.
These codes offer protection to consumers and all of the Codes can be found on the Central Bank’s website www.centralbank.ie
As an Investment Product Intermediary we are authorised to advise you in relation to a wide range of Products: Life Cover, Mortgage Protection Cover, Serious Illness Cover, Income Protection Cover, Pensions & Retirement Planning, Mortgage Payment Protection Cover, House Insurance, Health Insurance, Deposits, Savings & Investments.
We research the products of the Product Producers we hold appointments with, on your behalf. We then identify and assess the suitability of the products on offer to meet your current needs.
As a Mortgage Intermediary and Mortgage Credit Intermediary we have access to a number of financial institutions through our nominated mortgage providers where mortgage business may be progressed on your behalf.
A full list of the Product Producers and Mortgage Providers with which we hold a written appointment is available on request. We do not guarantee nor make representations in regard to, and expressly disclaim responsibility for, the financial institutions with which we place business.
Our firm provides its life, pension, investment and mortgage services to our clients on a fair analysis basis. “Fair 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 and deposit services to clients we provide this service on a limited analysis basis meaning that our firm provides these services on the basis of a limited number of contracts and product producers on the market.
We hold Deposit agencies with: EBS, PTSB, Investec, KBC Bank & Wealth Options. The firm provides General Insurance through the following providers: Aviva, Kidd Insurances, MBC Insurance & Zurich. The firm provides Health Care coverage through Aviva Health.
We reserve the right to charge a fee for the services we provide, details of which are outlined below:
- Our fees are charged at an hourly rate of €120.
- The minimum fee we charge is €120, up to a maximum of €1,200.
- Any proposed fee will be discussed and agreed in advance of proceeding with any retail Financial Product or Service.
We are remunerated for the business services we offer to you our client in a number of ways:
- by the Product Producers with whom we place business in the form of a commission payment. Such commissions are a well-established mechanism for brokers to be paid for the services we provide and hence are built into the cost of the product supplied.
- by the mortgage provider with whom we place mortgage business in the form of a fee which varies from 0.25% up to a maximum of 1% of Mortgage amount sanctioned. 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. Information on the variation in levels of commission payable by the different creditors providing credit agreements being offered are available on request.
We may receive commission and other payments from the product producers to which orders are transmitted. Summary details of these payments will be included in the product information document and/ or quotation document which you will receive before an application for a product is completed. Full details will be included in your cooling off pack which you will receive from the nominated product producer.
Please be aware that at all times the customers interest comes first and that level of commission earned will not influence in any way, the product provider recommended.
The Firm complies with the Data Protection Acts 1988 and 2003, as amended. The data which you provide to us will be held on a computer database and paper files for the purpose of arranging transactions on your behalf. We collect your personal details in order to provide the highest standard of service to you. We take great care with the information provided; taking steps to keep it secure and to ensure it is used only for legitimate purposes.
The information and other data provided to our office may be used to advise you of products and services we may offer from time to time.
Please note that the information we ask for is necessary and without it we may not be able to advise you fully under the Central Bank of Ireland’s Consumer Protection Code.
You have the right at any time to request a copy of any ‘personal data’ within the meaning of the Data Protection Act 1988 (as amended or re-enacted from time to time) that our office holds about you and to have any inaccuracies in that information corrected.
Conflicts of Interest
It is the policy of this firm to avoid any conflict of interest when providing business services to its clients. However where a conflict arises we will advise you of this in writing before proceeding to provide any business service. If you have not been advised of any conflict, you are entitled to assume none arises.
Failure to Pay or Default
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 policy terms and conditions. We will also exercise our legal right to obtain any monies owed to our firm by our clients.
We have a written complaints procedure for the effective handling of all complaints:
- We will acknowledge receipt of your complaint in writing within 5 working days.
- A written update will be issued to you every 20 days by a nominated individual within our firm.
- A comprehensive response to your complaint will be issued within 8 weeks of receipt of your initial complaint.
- In the event of failure to resolve your complaint you may refer the matter to the Financial Services Ombudsman Bureau for adjudication. The Financial Services Ombudsman Bureau may be contacted on LoCall: 1890 88 20 90 or via email to email@example.com. Our full Complaints Procedure is available on request.
We are members of the Investor Compensation Scheme established under Section 38 of the Investor Compensation Act 1998. The Act provides that compensation shall be paid to eligible investors (as defined in the Act) to the extent of 90% of an investor’s net loss or €20,000, whichever is the lesser and is recognized as being eligible for compensation. Full details of this scheme are available on request.
When receiving and transmitting orders we will accept payments by cheque where:
- An insurance undertaking has invited renewal of a policy of insurance.
- A proposal for insurance &/or PRSA has been accepted by an insurance undertaking.
Duty to Disclose
It is your duty to provide complete and accurate information for insurers when arranging an insurance policy and to Financial Institutions when applying for Mortgage Finance. Failure to disclose any material information to your insurers could invalidate your insurance cover; all or part of a claim may not be paid.
Effective Date Nov 2016