First registration Yes No Amending existing details Yes No Intermediaries Registration Form (Registration Form) These terms and conditions set out the basis on which Stafford Railway Building Society ( the Society, Us, We ) accepts applications/business from a mortgage intermediary ( the Intermediary, You ). Intermediary Fair Processing Notice By submitting any information to us you hereby acknowledge, agree and consent to this Fair Processing Notice. If you do not agree and consent to this Fair Processing Notice, then you must not submit any information to us. Before submitting any information to us, please note: 1. In order to prevent or detect fraud, any and all information provided by you will be shared with fraud prevention agency/ies; 2. If false or inaccurate information is provided and fraud identified details will be passed to fraud prevention agency/ies to prevent fraud and money laundering; and 3. You can obtain further details explaining how information held by fraud prevention agencies may be used by writing to MLRO, 4 Market Square, Stafford, ST16 2JH. We will use your information in the following ways to: 1. Manage the relationship with you; 2. Provide services to you and/or our customers; 3. Carry out due diligence checks; 4. Prevent and detect crime; 5. Carry out regulatory checks and meet the requirements of any relevant regulatory authority; 6. Develop and improve services provided to you and/or our customers; and 7. Protect our interests. 14/09/2016 V1.3 Page 1 of 12
Your information means any information you give to us, including, but not limited to, information about you, your business and your clients, that you or third parties provide to us. We will contact you from time to time using the information provided by you, including without limitation, by email, telephone, post or electronically. We may pass your information to people who provide a service to us or are acting as our agents, on the understanding that they will keep the information confidential. If we transfer your information to such third parties, we will seek to ensure, as far as is reasonably practicable, that they agree to apply the same levels of protection as we are required to apply to your information and to use your information strictly in accordance with our instructions. Where you provide personal and financial information relating to others, including, but not limited to your underlying clients, our prospective customers or any business partner or director, whether they be linked to you or otherwise, you confirm that you have their consent or are otherwise entitled to provide this information to us and for us to use it for these purposes or, in the case of prospective customers, for the purpose of us considering whether to provide them with any of our products and/or services. When you complete our Intermediary Registration form and/or on each and every occasion that you submit an application to us we will make identity, fraud and other enquiries about you. These agencies keep a record of our enquiries and may record, use and give out information we give them to other lenders, insurers and other organisations. If false or inaccurate information is provided to us, and suspected fraud is identified, we will notify the agencies accordingly. This will also be the case if you are suspected of knowingly submitting fraudulent mortgage applications during your relationship with us. Fraud prevention agencies and the Society will share your information. The Society and other organisations, including law enforcement agencies, may access and use this information to prevent and detect fraud, money laundering and other crimes. The information recorded by fraud prevention agencies may be accessed and used by organisations in the UK and in other countries. We will retain information collected about you for as long as permitted for legitimate business purposes. Organisation Company name: Registered address: Correspondence address: Town: Postcode: Country: Town: Postcode: Country: Registration number: 14/09/2016 V1.3 Page 2 of 12
Year of incorporation: Nature of business: Details of Principals or Directors: Full name: Address: Telephone Date of birth FCA IRN Business type Please tick the box that best describes your organisation type: Limited Company PLC Partnership/LLP Sole Trader Financial Conduct Authority (FCA) Details Please complete as appropriate: If directly authorised, please provide: The FCA number of your Firm Authorised Individual of your Firm for Compliance Oversight Authorised Individual of your Firm in a position of MLRO If an Appointed Representative, please provide: The FCA number of your Firm Authorised Individual of your Firm for Compliance Oversight 14/09/2016 V1.3 Page 3 of 12
Authorised Individual of your Firm in a role of MLRO The name of your Network The FCA number of your Network Principles of Business Please confirm that you have appropriate TCF and Conduct Policies in place? Please confirm that you apply the FCA Principles of Business within your own business? Authorised Mortgage Advisers The individual(s) name below are authorised Mortgage Advisers with this firm: Full name: Address: Telephone Date of birth FCA IRN (if applicable) Please also provide your email address for case updates Name: Email: 14/09/2016 V1.3 Page 4 of 12
If your firm has more than 5 advisers, please list their names and required details at the end of this Registration Form or on a separate sheet. Procuration fee payments (currently only paid by cheque) 1. If you are an Appointed Representative of a Network, the Society will require written confirmation from the Network confirming who the procuration fee is to be made payable to. 2. If you are Directly Authorised, the Society will make the fee payable to yourself. 3. If you submit an application through a Mortgage Club, the Society will make the fee payable to the Mortgage Club. 4. If you are submitting through Legal & General Mortgage Club the bank details do not need to be provided. Please provide bank details: Mortgage Club Nominee: Procuration fee payable to: Bank/Building Society name: Account name: Sort code: Account number: Bank address: TERMS AND CONDITIONS FOR MORTGAGE INTERMEDIARIES Compliance 1. The Intermediary must be authorised by the FCA with permission for advising on and arranging mortgages or be an appointed representative of an organisation authorised by the FCA for carrying out such activities. 2. When the Intermediary introduces Applicants to the Society, the Intermediary is not appointed as or acting as the Society Agent. The Intermediary does not have the authority to make representations, agreements or promises on the Society s behalf or act on the Society behalf in any other way, and the Intermediary must ensure the Applicant is made aware of this. 14/09/2016 V1.3 Page 5 of 12
3. The Intermediary must comply with the Money Laundering Regulations 2007 together with guidance notes issued by the Joint Steering Group. In particular, the Intermediary must verify and record the identity of all mortgage applicants before submitting a mortgage application to the Society. 4. You shall ensure that the FCA s principles of business will be followed and upheld at all times. 5. The principles of treating customers fairly must be upheld at all times by both parties. The Intermediary understands that sufficient records should be maintained to ensure the choice of lender is unbiased and that the Intermediary has acted in the best interests of the customer at all times. 6. The Intermediary will notify The Society immediately if: a. It is investigated for breach of the Financial Services and Markets Act 2000 or any other relevant laws. b. It is registration with the Financial Conduct Authority is terminated. c. It is investigated by any regulatory body. d. It ceases to act on behalf of the mortgage applicant(s). 7. In obtaining business, the Intermediary undertakes that no act or thing will contravene the Bribery Act 2010 or any other applicable law or regulation. 8. The Intermediary may use marketing materials provided by the Society and will not amend or misrepresent the material in any way. 9. The Intermediary shall not sign or amend any documents or policies on the Society s behalf nor make any statement or promises or representation of any kind whether written or oral which bind or purport to bind the Society or any employee or director of the Society; and neither shall the Intermediary hold itself out as giving authority to make such representation. 10. The Intermediary acknowledges that an agreement in principle is not binding on either party. Introductions and Applicants The Intermediary may (but is not under any obligation to) introduce Applicants to the Society. When the Intermediary introduces an Applicant to the Society, the Intermediary agrees to do so: 14/09/2016 V1.3 Page 6 of 12
1. In accordance with all Applicable Regulations and recommendations of any Regulator, professional body or trade association including without limitation the Buy To Let Statement of Practice and carry out Intermediary activities in accordance with good industry practice in good faith and so as not to prejudice the Society reputation or cause the Society to breach any Applicable Regulations. 2. The Intermediary will use its best endeavours to provide the Society with mortgage applications with true and complete information in all material aspects. Should the Intermediary become aware that such information is or becomes untrue or is incomplete, the Intermediary will notify the Society without a delay. 3. The Intermediary must ensure that mortgage applications are submitted with all relevant monies due. The Society will not accept liability for delays caused by incomplete or inaccurate information provided by the Intermediary. 4. The Intermediary acknowledges that an agreement in principle is not binding on either party. 5. Before submitting a mortgage application, the Intermediary must take reasonable steps to ensure that the application meets the Society s current lending criteria. An application, which is materially incomplete, may be returned to the Intermediary. 6. If the Intermediary knowingly submits a fraudulent Application, the Society will remove the Intermediary from the Society s Panel and advise other third parties including but not limited to any financial networks, clubs or the FCA under the Information from Lenders Scheme. The provisions of Our Fair Processing Notice shall also apply in these circumstances. 7. The Society reserves the right, at its sole discretion, to refuse all or any business from an Intermediary and is not required to give a reason for doing so. Data Protection The Intermediary will: 1. Ensure that they are registered with the Information Commissioner s Office and will comply with the requirements of the Data Protection Act 1998. 2. Ensure that they always have its customer s authority to act on their behalf and to pass information to the Society. 3. Ensure that they always have justification for processing of customer s personal data and that the appropriate consent has been obtained from their customer. 4. Advise all customers what will happen to their personal data and what, if any, will be disclosed to other parties. 14/09/2016 V1.3 Page 7 of 12
5. Ensure, that data collected in respect of any customer will not be used for any purpose other than that for which it was collected, unless the Intermediary has first obtained the customer s permission. 6. Hold only data relevant for the purpose of an agreement in principle or full mortgage application. 7. Ensure that all information collected will be a true and accurate reflection of their customer s circumstances, and to keep that information up-to-date. It is therefore important that the Intermediary provide accurate information held on them, on request. 8. Ensure, that personal information sent to the Society following submission of a mortgage application is sent securely, either by post or by encrypted e-mail. Professional Indemnity Cover and Insurance 1. The Intermediary must maintain Professional Indemnity Insurance cover of at least 1 million or such greater sum as may be specified by the FCA to cover any liability that may be incurred under this Agreement. This Professional Indemnity Insurance cover must be held with a reputable insurance company and be renewed on an annual basis. On the Society request, Intermediary shall produce both the insurance certificate giving details of cover and the receipt for the current year s premium in respect of such insurance. 2. The Intermediary indemnifies the Society in respect of any liability, losses, damages or costs it may suffer or incur arising from breach of warranties and/or obligations, imposed by these terms and conditions, or by reason of any misrepresentation or negligent, tortuous or fraudulent act or default by the Intermediary or their staff. 3. Nothing in these Terms of Business shall exclude or limit the Society s liability for (a) death or personal injury caused by the Society s negligence; or (b) fraud or fraudulent misrepresentation. 4. The limitations on the Society s liability to the Intermediary in clause 3 above shall apply whether or not the Society has been advised of or should have been aware of the possibility of any such losses arising. 5. Subject to clauses, 3 and 4 above, the Society s total liability to the Intermediary in respect of any and all losses arising under or in connection with these Terms of Business shall not exceed 10,000 for any single claim and shall not exceed 50,000 for all claims in aggregate. 14/09/2016 V1.3 Page 8 of 12
Fees Payment Terms 1. Within a month following the advance of monies to a borrower introduced to the Society by the Intermediary, the Society will pay to the Intermediary or its principal, network or club as appropriate, a procuration fee at such rate as the Society shall from time to time notify the Intermediary. 2. If, within 2 years following the advance of monies to a borrower introduced to the Society by the Intermediary, the mortgage is repaid in full by the borrower, the Society shall be entitled to a reclaim the procuration fee or a proportion of it from the Intermediary. 3. In the event that the Intermediary ceases to be authorised by the FCA: a. The Society shall pay the procuration fee on any mortgages where the Intermediary held valid authorisation on the date of completion b. The Society shall not pay the procuration fee on any mortgages where the Intermediary s authorisation was revoked on or before the date of completion 4. If any mortgage application submitted to us by the Intermediary is found to be fraudulent, no procuration fee will be paid. 5. You will reimburse the Society forthwith upon demand for any payments made: a. By the Society to You in error (and You shall promptly notify Us of the same); or b. By the Society which relates to any Application in respect of which You are materially in breach of these Terms of Business. Complaints 1. Each party agrees to maintain and comply with their respective Complaints Procedures in handling Complaints covered by these Terms of Business. 2. Each party shall co-operate with the other party and give the other party all reasonable assistance in handling any Complaint or with any dealings with the Regulator. 3. All Complaints relating to the Intermediary including employees, agents, and/or subcontractors covered by these Terms of Business, which are received by the Society shall be referred to the Intermediary for handling in accordance with the Intermediaries Complaints Procedure. 4. All Complaints relating to the Society covered by these Terms of Business, which are received by the Intermediary, shall be referred to the Society for handling in accordance with the Society s Complaints Procedure. Audit In order to review Your compliance with these Terms of Business or to facilitate the meeting of the Society obligations under the Applicable Regulations. The Intermediary shall: 14/09/2016 V1.3 Page 9 of 12
1. Be ready and available for meetings with the Society as reasonably requested. 2. Permit the Society and/or persons appointed by the Society to have access, with or without notice during reasonable business hours to any of the Intermediary's business premises. 3. Ensure that the Society s Auditors, upon reasonable notice have a right of access at all time to Intermediary records and are entitled to require from the Intermediary such information and explanations as the auditors reasonably consider necessary for the performance of their duties as auditors. Monitoring 1. The Society continually reviews and updates persons registered on the Society Panel. Ongoing registration is dependent on submission of quality Applications on a regular basis, which the Society determines from time to time, acting in the Society s ultimate discretion. The Society reserves the right to suspend or withdraw Intermediary registration. This may be without notification. If this happens and the Intermediary would like to introduce business to the Society, the Intermediary will be required to contact the Society to discuss re-registration. 2. By competing this Registration Form and on each and every occasion the Intermediary submits an Application to the Society: a. The Intermediary accepts and agrees to be bound by these Terms of Business; and b. Consent to Fair Processing Notice and to the Society completing all necessary checks to validate the Intermediaries suitability to submit applications to the Society and whether the Intermediary is acting as an introducer, appointed representative or otherwise. Variations 1. We reserve the right to alter these Terms of Business at any time and if the Intermediary continues with the submission of Applications or completion of the Intermediary Registration Form or both will be taken as acceptance of the revised Terms of Business. Termination 1. Either party may terminate these Terms of Business by giving one month s written notice to the other. 2. The Society reserves the right, at its sole discretion, to refuse all or any business from an Intermediary and is not required to give a reason for doing so 14/09/2016 V1.3 Page 10 of 12
3. Not limiting Without limiting the Society s other rights or remedies, the Society may terminate these Terms of Business with immediate effect by giving notice to the Intermediary if: a. Any misconduct by You, any of Your directors or partners or any person or body for which You are responsible which is or could reasonable be viewed as prejudicial to the Society business or reputation; b. You cease to hold the necessary Permissions for the purposes of these Terms of Business; c. You commit a material or persistent breach of these Terms of Business and You (if such a breach is remediable) fail to remedy that breach within 14 days of receipt of notice of the breach; d. You suspend or threaten to suspend payment of Your debts or You are unable to pay Your debts as they fall due; e. A person becomes entitled to appoint a receiver over the assets of Your business or a receiver is appointed over the assets of Your business; f. You commence negotiations with all or any class of Your creditors with a view to rescheduling any of Your debtors make a proposal for or enter into any compromise or arrangement with Your creditors. Governing Law These Terms of Business and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims), shall be governed by and construed in accordance with English law, and the parties irrevocably submit to the exclusive jurisdiction of the courts of England and Wales. Marketing Communications The Society does not allow the information held to be used by third parties for marketing purposes. The Society would like to be able to contact you by telephone (including mobile), post or email using the contact details, which you provide in this form, or which you provide or we obtain in our dealings with you. You can choose whether to be contacted for marketing purposes, so if you do not wish this, please indicate your preferences by ticking the relevant boxes in the declaration section of this form. If you decide not to tick the box now, but later decide that, you wish us to stop this use, you can at any time ask us to do so by writing to us at the Stafford Railway Building Society, 4 Market Square, ST16 2JH. I do not wish to be contacted by the Society 14/09/2016 V1.3 Page 11 of 12
Declaration This form should be signed by the Managing Director and/or suitably authorised individual within the firm, who is responsible for mortgage contract mediation that is named individual on the Financial Services Register. 1. I/We certify that the information in this form is correct to the best of my/our knowledge and belief. 2. I/We authorise the Society to take up any such references and actions outlined in the Fair Processing Note (above) as if deemed necessary in considering this application and hereby give consent. 3. I/We certify that I am/we are registered directly with the Financial Conduct Authority (FCA), have the necessary permission to advice on, and arrange mortgage contracts including regulated mortgage contracts. 4. I/We undertake to inform the Society, if I/We cease to have the necessary permission to advise or arrange mortgage contracts including regulated mortgage contracts. Print name: Position: Signature: Date: 14/09/2016 V1.3 Page 12 of 12