Terms of Business
As your mortgage and non-investment insurance adviser, Fuel has a commitment to provide you with the highest standard of service, professionalism and advice. In every case we treat our customers fairly and always act in the best interests of our client.
The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial services in the UK and became the regulator for mortgage business on 31st October 2004 and non-investment insurance business on 15th January 2005. The FSA set minimum legal standards in order to achieve good lending and advisory practice; these standards must be followed by all lenders, insurance providers and intermediaries.
Fuel Investments Ltd is authorised and regulated by the Financial Services Authority. Our register number is 313500.
There are two levels of service available as set out under the FSA Mortgage Code of Business rules (MCOB) and Insurance Code of Business Rules (ICOB). These are:
- Full Advice Service: a recommendation as to which of the mortgages and non investment insurance products available on the market are the most suitable for you, addressing such items as your 'needs', 'requirements' and 'affordability'.
- Non Advice Service: simply providing information on the different types of mortgage and non investment insurance products that an intermediary has chosen to offer. This may or may not address such items as your 'needs', 'requirements' and 'affordability'.
In all cases we offer : (A) Full Advice Service.
To enable us to offer a full and appropriate recommendation we will be completing a detailed client Fact Find.
Fuel act on your behalf, not for the lender, therefore we constantly review the whole market in order to select the most appropriate mortgage and non-investment insurance product to meet your individual circumstances, at the time of your application.
We will also provide you with information relevant to your mortgage and non-investment insurance needs covering such items as an explanation of the main mortgage repayment methods and the financial implications of taking out a mortgage.
Once we have made our recommendation you will be issued with a Key Facts Illustration (KFI) and we will also confirm our advice in writing. Once received you should keep these documents, as they will be an important record of our discussions. Details of the loan will also be confirmed in the lender?s formal offer.
We enclose a copy of the Fuel information leaflet 'Guide to Investment Property Financing'.
Investment Property
Typically investment property (Buy to Let and Commercial) are not regulated by the Financial Services Authority, although we will treat your application in the same manner as though it were regulated.
Charges
We do charge our clients a fee for our services. However, we will agree this with you before starting the advice process and we will tell you the exact amount of this fee in writing. Details of our fee structure are also shown on the Combined Initial Disclosure Document (CIDD). In addition, Fuel may receive a commission from mortgage lenders and non-investment insurance providers with whom we place cases.
Full details of these charges and payments are also shown in sections 8 and 13 of the KFI.
Any other fees requested from you will be used to cover administration costs and charges which may be incurred whilst processing your application.
Data Protection Act 1998 and Your Information
We will treat all your personal information as private and confidential (even when you are no longer a customer) except, where we are permitted by law, or where disclosure is made at your request, or with your consent, in relation to arranging your mortgage.
In addition we may be asked by the Financial Services Authority, which regulates mortgage and non-investment insurance activity in the UK, to provide them with access to our customer records in order that they may carry out an audit of our activities.
We and other integrated group partners (Inside Track Seminars Ltd, Instant Access Properties Ltd, Ethos Ltd and AfterCare Solutions Ltd) will use and analyse the information you give us to identify products and services which may interest you and to help us to understand and develop our business. We and other integrated group partners may tell you on a regular basis, by letter, phone or fax, e-mail or other electronic means, about existing, new and innovative products and services which they or we believe would be of interest to you.
If you do not want us to do this please call us on
We maintain our business records for six years. During this period we will allow you, or any agent to whom you have given written authority, to inspect the records relating to your transaction with us. However, we reserve the right to provide copies and make any appropriate charge if exercising your right of inspection would allow you access to information relating to other clients.
Fuel Investments Ltd use the Royal Mail, e-mail, fax and other electronic mediums to transfer documentation to third parties. We cannot take responsibility for any items lost by the Royal Mail or if information on you is gained electronically by any unauthorised third parties.
Customer Contact and Mortgage Reviews
With your express consent we will provide you with relevant information typically once each half year to enable you to review your mortgage arrangements. The provision of this information may be by telephone, e-mail or in writing.
Complaints
In the event that you have a complaint against us, this will be dealt with in accordance with our internal complaints procedure.
In the first instance you should address your complaint to Ian C Gibson, Compliance Manager, Fuel Investments Ltd, 3rd Floor Surrey House, 34 Eden Street, Kingston upon Thames KT1 1ER. In the unlikely event that you do not obtain satisfaction from our complaints procedure, you may be entitled to refer your complaint to the Financial Ombudsman Service.
You will not however be able to refer your complaint to the Financial Ombudsman Service in the case products not regulated by the Financial Services Authority.
