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about our services |
ContractorMoney
Gainsborough House
2 Sheen Road
Richmond
Surrey
TW9 1AE |
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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. |
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2. Whose products do we offer? |
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Investment |
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We offer products from the whole market. |
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We only offer products from a limited number of insurers. |
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We only offer products from a single insurer. |
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Insurance |
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We offer products from a range of insurers for term assurance, mortgage protection and income protection. |
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We only offer products from a limited number of insurers. |
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We only offer a product from Halifax for buildings and contents 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 a limited range of a single lender. |
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3. Which service will we provide you with? |
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Investment |
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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. |
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We will provide basic advice on a limited range of stakeholder products and in order to do this we will ask some questions about your income, savings and other circumstances but we will not;
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Conduct a full assessment of your needs;
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Offer advice on whether a non-stakeholder product may be more suitable.
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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 term assurance, mortgage protection and income protection. |
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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. |
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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. |
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4. What will you have to pay us for our services? |
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Investment |
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Before we provide you with advice, we will give you our key facts guide 'about the cost of our services' |
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We will tell you how we get paid, and the amount, before we carry out any business for you. |
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Insurance |
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No fee. Instead, we will be paid by commission from the Insurer. |
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A fee of £1000, for arranging each contract, payable at outset. This is a one off fee payable when you decide to take out the insurance we recommend. Your application will then be processed on a nil commission basis with the insurer. |
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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 0.6% of the mortgage loan, for example if you take out a loan of £100,000 you will need to pay £600 (0.6% X £100,000). We will refund you any commission we may receive from the lender. |
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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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5. Who regulates us? |
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ContractorMoney is a trading name of Contractor Financials Ltd, Greyhound House, 23/24 George Street, Richmond, Surrey, TW9 1HY, who is authorised and regulated by the Financial Services Authority. Our FSA Register number is 207478. Our permitted business is arranging and advising on investments, general insurance and mortgages. 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. |
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6. What to do if you have a complaint |
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If you wish to register a complaint, please contact us: |
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...in writing |
Contractor Financials Ltd, Compliance Officer, Gainsborough House, 2 Sheen Road, Richmond, Surrey, TW9 1A |
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...by phone |
0845 062 8888 |
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7. 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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Investment |
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Most types of investment business are 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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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. |
