Terms of Business

Mortgage Terms of Business

We are pleased to confirm that Prosper Mortgages Ltd are regulated and authorised by the Financial Services Authority. We offer a comprehensive and professional service to all our clients. What follows is an outline of the Terms upon which we transact mortgage business. This is only a summary and your advisor will be more than happy to elaborate on any points you require.

The Financial Services Authority took over from the Mortgage Code for intermediaries such as ourselves on 31st October 2004. This is to ensure minimum standards of good lending and advisory practice which are to be followed by all lenders and mortgage intermediaries.

The company's registration number is 311148. In addition we also hold a Consumer Credit License number 549719 together with appropriate Professional Indemnity cover.

Please note that in all our dealings Prosper MortgagesLtd will act on your behalf and not for the lenders.

Level of Service

We constantly review the mortgage market in order to select the most appropriate lenders to meet your individual circumstances. We currently use a panel of lenders who consistently provide our customers with a competitive product range and high standards of service. If the panel lenders cannot meet your specific requirements we will access the market further.

We offer a full advice and recommendation service in all cases in order that together we can make an informed decision about the most appropriate mortgage for your needs. As a result, during our initial discussions, we will be completing a detailed mortgage questionnaire to enable appropriate advice to be given.

Provision of Information

We will provide you with information relevant to your mortgage needs, covering such items as an explanation of the main repayment methods and the implications of taking out a mortgage.

Once we have made our recommendations to you, we will confirm our advice in writing. You should keep this as it will be a record of the transaction, and will be confirmed by your lender's formal offer of a loan.

Fees

Some of the lenders we recommend will pay Prosper Mortgages Ltd a fee in recognition of the work we do on their behalf. We will advise you in writing of all fees payable to the company.

In addition to the above fees we receive, we may charge you a fee after completion of the mortgage. This payment is for the time researching the market plus the administration involved and submitting the application to the appropriate lender on your behalf and ensuring the transaction is completed to suit your requirement. The fee for carrying out this service will be agreed with you once your full requirements are known.

Confidentiality

We will treat all your personal information as private and confidential (even when you are no longer a customer) Nothing about your accounts, nor your name and address, will be disclosed to anyone, including other companies in our Group, other than in four exceptional cases permitted by law. These are:

• Where we are legally compelled to do so
• Where there is a duty to the public to disclose
• Where our interests require disclosure (this will not be used as a reason for disclosing information about you or your accounts, including your name and address, to anyone else including other companies in our group for marketing purposes)
• Where disclosure is made at your request and with your consent.

We confirm that you have right of access under the Data Protection Act 1998 to your personal records held on our files.

Complaints

Our aim is to provide you with a first class professional and confidential service — should a complaint arise, in the first instance you should contact our Compliance Officer at the address above. Thereafter should the complaint not be resolved to your satisfaction, we will assist you in resolving it by referring it to The Financial Ombudsman Service whose address is: