Insurance & Financial Broker House
Dublin Road, Ashbourne, Co. Meath
A84 AY28
info@ashbournemortgages.ie
www.ashbournemortgages.ie
0818294115

 

Terms of Business 

Ashbourne Mortgages Ltd.
Our 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
Ashbourne Mortgages Ltd (C545279) is regulated by the Central Bank of Ireland as a Mortgage
Intermediary authorised under the Consumer Credit Act, 1995, and as a Mortgage Credit Intermediary
under the European Union (Consumer Mortgage Credit Agreements) Regulations 2016. 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
Ashbourne Mortgages Ltd is subject to the Consumer Protection Code, Minimum Competency Code
and Fitness & Probity Standards which offer protection to consumers. These Codes can be found on
the Central Bank’s website www.centralbank.ie

Our Services
Ashbourne Mortgages Ltd is a member of Brokers Ireland.
Our principal business is to provide advice and arrange transactions on behalf of clients in relation to
mortgages. A full list of lending agencies with which we deal is available on request.

Fair and Personal Analysis
The concept of fair and personal analysis describes the extent of the choice of products and providers
offered by an intermediary within a particular category of life assurance, general insurance,
mortgages, and/ or a specialist area. The number of contracts and providers considered must be
sufficiently large to enable an intermediary to recommend a product that would be adequate to meet
a client’s needs.

The number of providers that constitutes ‘sufficiently large’ will vary depending on the number of
providers operating in the market for a particular product or service and their relative importance in
and share of that market. The extent of fair analysis must be such that could reasonably be expected
of a professional conducting business, taking into account the accessibility of information and product
placement to intermediaries and the cost of the search.

 

In order to ensure that the number of contracts and providers is sufficiently large to constitute a fair
and personal analysis of the market, we will consider the following criteria:
 the needs of the customer,
the size of the customer order,
-  the number of providers in the market that deal with brokers,
-  the market share of each of those providers,
- the number of relevant products available from each provider,
- the availability of information about the products,
- the quality of the product and service provided by the provider, cost, and any other relevant consideration.

Mortgages
Through the lenders or other undertakings with which we hold an agency, Ashbourne Mortgages Ltd.
can provide advice on and arrange mortgage products from the following range: fixed-rate loans,
variable rate mortgages, capital & interest mortgages, interest only mortgages, endowment
mortgages, pension mortgages and residential investment property.

We provide mortgage advice on a fair analysis basis (providing services on the basis of a sufficiently
large number of contracts and product producers available in the market to enable the firm to make a
recommendation, in accordance with professional criteria, regarding which contract would be
adequate to meet your needs).

We will need to collect sufficient information from you before we can offer any advice on housing
loans. This is due to the fact that a key issue in relation to mortgage advice is affordability. Such
information should be produced promptly upon our request.

Statement of Charges
We may earn our remuneration on the basis of fee, commission, and any other type of remuneration,
including a non-monetary benefit or on the basis of a combination of these methods. A non-monetary
benefit will only be accepted if it enhances the quality of the service to our clients.

We reserve the right to charge additional fees if the number of hours relating to on-going
advice/assistance for non-standard applications.

A summary of the details of all arrangements for any fee, commission other reward or remuneration
paid or provided to us which have agreed with product providers is available in our office.
In certain circumstances, it will be necessary to charge a fee for services provided. These are listed
below. In other circumstances where fees are chargeable or where you choose to pay in full for our
service by fee, we will notify you in writing in advance and agree the scale of fees to be charged if different from the fees outlined below.

Where it is not possible to provide the exact amount, we will provide you with the method of calculating the fee.

If we receive commission from a product provider, this may/will be offset against the fee which we
will charge you. Where the commission is greater than the fee due, the commission may become the
amount payable to the firm unless an arrangement to the contrary is made. 

 

Mortgages
We may receive up to 1% of the loan for arranging mortgage finance. This commission is paid by the
mortgage lender. 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.

Please note that lenders may charge specific fees in certain circumstances and if this applies, these fees
will be specified in your Loan Offer. You have the right to pay a fee separately and not include it in
the loan. Typically, this situation arises in relation to specialist lending.

Conflicts of interest
It is the policy of our firm to avoid conflicts of interest in providing services to you. However, where
an unavoidable conflict of interest arises, we will advise you of this in writing before providing you
with any service. A full copy of our conflicts of interest policy is available on request. In some cases,
we may introduce you to other businesses to arrange assurance and insurance requirements for the
mortgage providers.

Default on payments by clients
We will exercise our legal rights to receive payments due to us from clients (fees and insurance
premiums) for services provided.

Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments.
Your home is at risk if you do not maintain your agreed repayments.

 

Complaints

Whilst we are happy to receive verbal complaints, it would be preferable that any complaints are made in writing.

We will acknowledge your complaint in writing within 5 business days, and we will fully investigate it.

We shall investigate the complaint as swiftly as possible, and the complainant will receive an update on the complaint at intervals of not greater than 20 business days starting from the date on which the complaint is made. 

On completion of our investigation, we will provide you with a written report of the outcome. In the event that you are still dissatisfied with our handling of or response to your complaint, you are entitled to refer the matter to the Financial Services and Pensions Ombudsman (FSPO). A full copy of our complaints procedure is available on request.

 

Data Protection
We are subject to the requirements of the General Data Protection Regulation 2018 and the Irish Data
Protection Act 2018.

Ashbourne Mortgages Ltd. 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 purposes 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 accessible. Please refer to our website if this medium
is not suitable, we will ensure you can easily receive a copy by hard copy, or telephonic environment.
(pre-recorded).

Please contact us at info@ashbournemortgages.ie if you have any concerns about your personal data.

Consumers: Duty of Disclosure When Completing Documentation.
You are required to answer all questions posed by us or the lender honestly and with reasonable care – the test will be that of the ‘average consumer’1.
1Average consumer as per Directive No. 2005/29/EC of the European Parliament and of the Council
of 11 May 2005 is reasonably well informed and reasonably observant and circumspect, taking into
account social, cultural and linguistic factors.

Brokers Ireland Clients’ Compensation and Membership Benefits Scheme (BIC)
We are also members of the Brokers Ireland Clients’ Compensation and Membership Benefits Scheme
(BIC). Subject to the rules of the scheme the liabilities of its members firms up to a maximum of
€100,000 per client (or €250,000 in aggregate) may be discharged by the fund on its behalf if the
member firm is unable to do so, where the above detailed Investor Compensation Scheme has failed
to adequately compensate any client of the member. Further details are available on request.

 

Ashbourne Mortgages Ltd trading as Ashbourne Mortgages is regulated by the Central Bank of Ireland.
Company Registration No. 540981
Director(s): Thomas Cotter & Kevin Madden