Why should you read this document?

During the course of dealing with us, we will ask you to provide us with detailed personal information relating to your existing circumstances, your financial situation and, in some cases, your health and family health history (Your Personal Data). This document is important as it allows us to explain to you what we will need to do with Your Personal Data, and the various rights you have in relation to Your Personal Data.

What do we mean by “Your Personal Data”?

Your Personal Data means any information that describes or relates to your personal circumstances.   Your Personal Data may identify you directly, for example your name, address, date of birth, national insurance number. Your Personal Data may also identify you indirectly, for example, your employment situation, your physical and mental health history, or any other information that could be associated with your cultural or social identity.

In the context of providing you with assistance in relation to your Investment/Mortgage/Finance and/or Insurance requirements Your Personal Data may include:

·           Title, name, date of birth, gender, nationality, civil/marital status, contact details, addresses  and documents that are necessary to verify your identity

·           Employment and remuneration information, (including salary/bonus schemes/overtime/sick pay/other benefits), employment history

·           Bank account details, tax information, loans and credit commitments, personal credit history, sources of income and expenditure, family circumstances and details of dependents

·           Health status and history, details of treatment and prognosis, medical reports (further details are provided below specifically with regard to the processing we may undertake in relation to this type of information)

·           Any pre-existing investment/mortgage/finance and/or insurance products and the terms and conditions relating to these

The basis upon which our firm will deal with Your Personal Data

When we speak with you about your investment/mortgage/finance and/or insurance requirements we do so on the basis that both parties are entering a contract for the supply of services.

In order to perform that contract, and to arrange the products you require, we have the right to use Your Personal Data for the purposes detailed below.

TERMS AND CONDITIONS

1. INTRODUCTION

1.1 These terms set out the general conditions under which South Yorkshire Money services are to be provided to clients, including details of the specific services required and any charges for these services.

2. OBLIGATIONS

2.1 The client agrees to provide South Yorkshire Money with full and frank details about their personal, financial and other circumstances including knowledge and experience, risk appetite, ability to tolerate losses, capacity to accept losses and the client’s aims and objectives in respect of any financial needs. The client has the legal capacity to enter into this agreement.

2.2 South Yorkshire Money confirms that it has the necessary delegated regulatory permissions to provide advice and services in those areas disclosed in South Yorkshire Money About Our Services and Fees document.

2.3 The client agrees to appoint South Yorkshire Money as their agent.

2.4 South Yorkshire Money agrees to act as the agent for the client in relation to the services agreed at clause 3 below.

2.5 Unless otherwise confirmed in writing, South Yorkshire Money agrees to treat the client as a Retail Client.

3. SERVICE

3.1 South Yorkshire Money agrees to conduct an analysis of the personal information provided by the client at the time of entering into the agreement and determine, based upon this information, that all existing arrangements held in the name of the client are still suitable and, in the client’s, best interest or not, and report to the client details of this analysis.

3.2 South Yorkshire Money will provide advice having assessed the clients demands and needs (in respect of Mortgages and non-investment protection) and conduct a holistic analysis of the client’s mortgage and non-investment protection plans that fall within the regulated permission of South Yorkshire Money, and make personal recommendations in these areas.

3.3 South Yorkshire Money will use the information provided by the client and cannot be held responsible for any non-disclosed details that may subsequently effect the application or lender decision where it would be reasonably expected for the client to make South Yorkshire Money aware of such information.

3.4 The lender's decision is always final and is based upon receipt of a completed application form or Decision in Principle form and supporting documents.

3.5 South Yorkshire Money recommends that clients should not instruct solicitors and incur costs until case has been fully agreed by the lender in question.

4. PAYMENT

4.1 A processing fee (including valuation fee) will be required with the mortgage application. Our actual fees are available in PDF format on request.

5. MARKETING

5.1 South Yorkshire Money will not use the client’s personal details for the purpose of marketing other services and products offered by South Yorkshire Money, unless the client has recorded and expressed willingness and consent to receive such marketing within the registration and application processes.

6. CONFLICTS OF INTEREST

6.1 South Yorkshire Money will always act honestly, fairly and professionally when conducting business with you.

6.2 South Yorkshire Money will make you aware of the existence of any conflict of interest that we are aware of, which arises between the work we are doing for you and any of our other clients or ourselves, and obtain your consent to continue before we carry out your instructions.

6.3 South Yorkshire Money will take all reasonable steps to prevent conflicts of interest and to ensure your fair treatment where one does arise. A copy of our conflict of interest policy is available upon request.

8. COMPENSATION INFORMATION

8.1 South Yorkshire Money meets the requirements of the FCA rules regarding financial resources, including provisions regarding holding and maintaining appropriate professional indemnity insurance.

8.2 We are also covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. The value of this compensation depends on the type of business and the circumstances of the claim, as follows:

Insurance - Insurance advising and arranging is covered for 90% of the claim without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit.
Home Finance Products - Mortgages, Home Purchase Plans and Equity Release advising and arranging is covered up to a maximum limit of £50,000.

8.3 Further information about compensation scheme arrangements is available from the FSCS.

9. CLIENT MONEY

9.1 We do not have the authority to hold client money and do not operate a client account for the receipt and payment of client money in respect of investment transactions. All client money should be paid to the product provider concerned.

11. CONFIDENTIALITY AND DATA PROTECTION

10.1. Some or all of the information supplied to South Yorkshire Money in connection with an Enquiry, Decision in Principal or Application will be held on computer and paper and will comprise Personal Data (as defined by the DPA / GDPR). Unless required to do so by law, we will not disclose such information to anyone else other than the lender and their third parties to assist in the provision and servicing of your application.

10.2. Please note that telephone calls may be recorded or monitored for security or training purposes.

10.3 We will only contact you for Marketing purposes as mentioned in 5.1.