Terms of business

1. General

1.1 2m is a trading name of 2nd Mortgages Limited, registered in England No. 04062822. 2nd Mortgages Limited's Registered Office is at 2nd Floor, Newland House, 139 Hagley Road, Birmingham, B16 8AU. 2nd Mortgages Limited is an appointed representative of 2nd Mortgages Limited, which is authorised and regulated by the Financial Services Authority (FSA reg. 302012).

1.2 2nd Mortgages Limited trading as 2nd Mortgages offer(s) a range of financial planning services. This Terms of Business sets out: the general terms and conditions that apply; how we perform these services; and our charges.

1.3 We shall conduct our relationship with you at all times in accordance with these terms of business. We shall be entitled to any fees or commissions under these terms of business once you have consented to them, subject to any rights you may have to cancel the agreement (see section 14).

1.4. In these Terms of Business references "we" "us" and "our" shall mean 2nd Mortgages Limited as providers of this service. References to "you" and "your" means you as the recipient of this service.

2. Regulatory Status

2.1 2nd Mortgages Limited is an appointed representative of 2nd Mortgages Limited, which is authorised and regulated by the Financial Services Authority (FSA reg. 302012).

2.2 The Financial Services Authority is the principle regulatory body for Financial Services in the UK. They can be contacted at
The Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel: 020 7066 1000
or by visiting their website at www.fsa.gov.uk

2.3 The FSA does not regulate credit cards, unsecure and personal loans or some investment mortgage contracts.

3. Mortgages

3.1 2nd Mortgages Limited arranges mortgages from a limited number of mortgage lenders.

3.2 Through the 2nd Mortgages Limited online service we will not advise you or make any recommendation as to which mortgages are suitable for you.

3.3 We will carry out any instructions you give us to effect such contracts.

3.4 These terms of business should be read in conjunction with the "Learn About Mortgages" section of the website - which provides further information regarding your mortgage and the associated fees.

3.5 We constantly research the mortgage market in order to identify a selection of preferred lenders. You will have the choice of products from at least 36 lenders. We are also able to offer a range of exclusive products that are available only to 2nd Mortgages Limited and a range of semi-exclusive products that are available to the 2nd Mortgages Limited and at least one other mortgage broker.

4. Non-investment insurance

4.1 2nd Mortgages Limited arranges non-investment insurance contracts* from a limited number of insurance providers.

4.2 Through the 2nd Mortgages Limited online service we will not advise you or make any recommendation as to which non-investment insurance contracts are suitable for you.

* Non investment contracts are insurance policies that only pay out on death, incapacity or injury, sickness and infirmity. A plan that has a term of more than 10 years and ends after the life insured is 70 years old is not a non-investment contract.

4.3 We only transact policies from a restricted list of companies that we have assessed as being financially strong.

4.4 We do not provide any Insurance Policy that relies on investment returns to do its job.

4.5 Do not provide any policy that would require the claimant to make investments for it to achieve its purpose.

4.6 We do not normally provide plans that extend beyond the term of the mortgage or into retirement.

4.7 We will carry out any instructions you give us to effect such contracts.

4.8 For purposes of arranging building and contents cover we may refer you legal and general.

5. Our remuneration

5.1 2nd Mortgages Limited may receive a procuration fee from Mortgage lenders. We will confirm the amount to you in writing before you take out your mortgage. Any fees payable by you, in connection with your new mortgage, will be shown on each product illustration. Please note that these fees exclude any legal fees you may have to pay and we recommend that you ascertain what these fees may be prior to taking out your mortgage.

5.2 In addition we may charge a booking fee of £95 in respect of the exclusive or semi-exclusive mortgages we offer. An exclusive mortgage is defined as mortgages only available through 2nd Mortgages Ltd and 2nd Mortgages Ltd and semi-exclusive mortgages are defined as mortgages only available through 2nd Mortgages Ltd and 2nd Mortgages Ltd and a limited number of other broker networks.

5.3 Unless agreed otherwise, we will derive our income from commission paid to us by the companies with which we place your business.

6. Cancellation

6.1 Where these terms of business are given in respect of a "distance contract", that is services provided: though our on line website; or through our branch-electronic-shopping-facility; or by phone.

6.2 Under MCOB 4.6 in circumstances where 2nd Mortgages Ltd acts contractually on your behalf, you may have the right to cancel your contract prior to the submission of your application to the lender.

6.3 Your rights of cancellation will take effect from the date the contract with 2nd Mortgages Ltd is concluded or the day you receive contractual terms and conditions in a durable form and be effective for 14 days after this date.

6.4 To cancel, you can email us or write to us (see contact us for details)

6.5 2nd Mortgages Limited will not make any charge or apply a penalty if you cancel the contract. You must pay for any transactions initiated prior to termination at your express request and a due proportion of any fees applicable.

7. Termination

7.1 Subject to point 7.2, you or we, may terminate this agreement at any time, without notice period.

7.2 Notice of termination by you must be given in writing to our head office. The agreement will terminate upon our receipt of such notice. Proof of posting will not constitute proof of delivery.

7.3 Notice of termination by us must be given in writing to you. We will normally send such notice by post to your last known address.

7.4 Termination of the agreement is without prejudice to the completion of any transactions initiated prior to receipt of such notice. Existing policies, investments and loans will be unaffected.

7.5 These terms of business will automatically terminate should you die.

7.6 These terms of business have no minimum period during which they must remain applicable.

8. Communicating

8.1 At our discretion and unless we hear from you to the contrary we may email or telephone you from time to time between the hours of 9am to 9pm without your further prior consent to such contact. We will not do so for the purpose of qualifying credit promotions unless you have expressly given us permission to do so, or you are an established existing customer.

8.2 When you join 2nd Mortgages, we will send you marketing email updates on our products and services, according to the information you provide at the point of registration. You will be given the opportunity and instructions on how to unsubscribe from these emails when you register and on each marketing email we send to you.

8.3 All cheques, documents of title etc will be sent by post to your last known address and shall be sent at your own risk. We will not be responsible for lost documents or any consequences that may arise from any error or failure of the postal system. First class mail will normally be used.

8.4 You may communicate with us by writing, phoning or sending an email to our head office. There is no additional charge.

9. Compensation

9.1 If you make a valid claim against us in respect of the mortgage or insurance we arrange for you, and we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme; details of the cover provided by the Scheme are available on request. Further information is available from the FSA and the Financial Services Compensation Scheme.

10. Verifying identity

10.1     We are required to verify your identify in accordance with the Criminal Justice Act 1993 and the Money Laundering Regulations. This will be required at the outset of our dealings with you and we will not submit an application for a mortgage or term assurance policy of other financial product until such verification has been obtained.

 See Acceptable Forms of ID and Proof of Address

11. Your policies and legal documents

11.1 All policies will be registered in your name unless otherwise agreed in writing. Unless you instruct us in writing to the contrary, we will forward to you all documents showing ownership of your policies as soon as practicable after we receive them. Where a number of documents of title are involved we will await arrival of all of them before sending them to you.

12. Your money

12.1 We do not handle client money in respect of Life Assurance. We cannot accept any cheques payable to ourselves, or cash; the only exception relates to fees, as described in 5 above.

13. Law

13.1 The law governing this agreement both before and after completion is the law of England and Wales.

13.2 We normally require our clients to give us instructions in writing, to avoid possible disputes, but we shall be entitled, at our sole discretion, to act upon your oral instructions. We can refuse your instructions at our discretion.

13.3 We may vary the terms of this agreement by writing to you at your last know address. Proof of delivery to this address will constitute proof of notice being served.

13.4 These terms of business represent our understanding of the law and our terms of business as at 16/05/2005. They are valid on that date.

14. Language

The contract is in English and communication between us will be in English.

15. Taxes

15.1 Other taxes or costs may exist which are not paid through us or imposed by us.

16. Refunds

16.1 Refunds will be supplied where applicable and where they are deemed necessary, should you feel a refund is due, please contact the compliance officer at 2nd Mortgages, Newlands House, 139 Hagley Road, Birmingham, B16 8AU. This also applies to refunds through the worldpay internet based payment system.