Who are we and what do we do?
AIMS Mortgage Services is an mortgage broker that provides advice and arranges mortgages, general insurance products and personal and family protection business.
We are a trading style of Peter Dane Varney which is an authorised representative of TenetLime Limited, which is authorised and regulated by the Financial Conduct Authority (FCA). The FCA is the independent regulator of financial services in the United Kingdom. TenetLime Limited is entered on the Financial Services Register (https://register.fca.org.uk/s/) under reference 311266.
Who is TenetLime Limited?
TenetLime Limited is wholly owned by Tenet Limited, which is a wholly owned subsidiary of Tenet Group Limited (‘TGL’), a leading distributor of financial products and services in the UK. ‘TGL’ is majority owned by the following corporate shareholders; AEGON UK Distribution Holdings Ltd (22%), Aviva Life & Pensions UK Limited (23%), Aviva Life Holdings UK Ltd (24%) and Standard Life Aberdeen PLC (25%). Aviva Life & Pensions UK Limited and Aviva Life Holdings UK Ltd are both companies within the Aviva plc group. Their address is: TenetLime Limited, 5 Lister Hill, Horsforth, Leeds, LS18 5AZ. Tel: 01132 390011.
To find out more about TenetLime Limited and the support and backing they provide us with, please visit their website www.tenetgroup.co.uk/consumer.
What can we do for you?
Our mainstream service is to act on your behalf for the purpose of arranging and advising on the following:
- Personal & Family Protection, for example a Life Assurance or Critical Illness Plan;
- Mortgages, including Buy-to Let;
- General Insurance, for example Buildings Contents
For all the services described above we will complete a detailed fact find so we can understand your circumstances, specific needs and objectives to determine if these services are suitable for you. We will then undertake research in order to provide a personal recommendation(s) and related information relevant to your individual circumstances. If, after due consideration you would like to accept any or all of our recommendation(s), we will then implement them and arrange any products and/or related services on your behalf.
Further details about these and other related services we provide are contained in the pages below. This also confirms their typical cost and how you can pay us for them.
IMPORTANT INFORMATION
Before you consider our services in more detail we would like to draw your attention to the following important information: When we have discussed and agreed with you the services that we are to provide we will confirm this to you in a Client Agreement. This will describe the scope and specific services to be provided, the cost and how it can be paid for. We will not advise you if you are experiencing difficulties managing debt. Free help and advice about managing your debts is available by contacting the Money and Pensions Service via its website www.moneyandpensionsservice.org.uk |
INFORMATION ABOUT OUR MORTGAGE SERVICES
Whose products do we offer?
We offer a comprehensive range of mortgage products from across the market. We offer both first and second charge mortgages, but not deals that you can only obtain by going direct to a lender.
For those seeking to increase their existing borrowing, alternative finance options may be available and more appropriate for your needs. For examples, a further advance from your existing lender or an unsecured loan (e.g. a personal loan).
How much will you have to pay for our mortgage services?
For establishing your needs, undertaking research and making a recommendation, we typically do not charge a fee for existing clients of AIMS Mortgage Services.
For new clients, we typically charge a fee of £295. This fee becomes payable when the mortgage has completed.
For more complex new client cases, we typically charge a fee of £500. This fee is payable when we have established your needs, undertaken research and made a recommendation for a mortgage product. If we apply on your behalf for a mortgage that does not go ahead because it wasn’t accepted for the circumstances and information you provided us, this fee will be refunded in full (unless there has been non-disclosure of facts from the client).
If you choose to proceed with our recommendation and the mortgage goes ahead, we will also be paid commission from the lender for arranging the mortgage on your behalf.
Alternatively, you can choose for us to be paid by a fee, this will be 1% of the loan amount and is payable on completion. For example for a loan of £100,000 the fee will be £1,000 and we will refund any commission received. This method will only be used if you prefer us not to receive commission from the lender.
The amount of commission we receive varies from lender to lender. Information about the range of commissions available to us from the mortgage products we recommend is available on request.
You will receive a personalised illustration when considering a particular mortgage. This will highlight the key facts about the mortgage product including any fees relating to it and the amount of commission due to us from the mortgage lender.
INFORMATION ABOUT OUR INSURANCE SERVICES
Whose products do we offer?
Personal and Family Protection
We are insurance intermediaries who offer products from a range of insurers based on a fair and personal analysis of the market for, Life Assurance, Critical Illness Cover, and Income Protection Insurance.
General Insurance
We are insurance intermediaries who offer products from a range of insurers based on a fair and personal analysis of the market for Buildings & Contents.
How much do we charge for our insurance services?
We do not charge a fee for advice and arranging an insurance product. We will receive commission from the insurer and the type of contract, term of the cover and the premium amount.
We will tell you how much commission we expect to receive before we transact business for you. You will receive a quotation, which will tell you about any other fees relating to any particular insurance policy we arrange for you.
We are not otherwise permitted to receive or retain any financial inducements, significant gifts or hospitality from insurance product providers, for arranging insurance contracts on your behalf.
INFORMATION ABOUT OUR OTHER RELATED SERVICES
Credit Broking
We are also Credit Brokers. This means that if you require a loan other than a mortgage (e.g. a personal loan) we can refer you to a specialist third party who can discuss your specific needs with you. We will not advise you on this type of borrowing and you will need to make up your own mind whether to go ahead with it or not.
Other Specialist Services
As part of the TenetLime Limited Network of Financial Advisers we have access to support services and specialist expertise you would normally expect from a large organisation. Where it is in your best interest we may offer to refer you to another firm within the same Network.
With your permission, the other firm may carry out research on our behalf or alternatively advise you directly. The total cost of this service, including our fees for any preparatory work the other firm relies on, will be no higher than our standard tariff of fees and charges stated above.
ARE WE COVERED BY THE FINANCIAL SERVICES COMPENSATION SCHEME (FSCS)?
Yes, we are covered by the FSCS. You may be entitled to compensation from the scheme if we are unable to meet our obligations. This will depend on the type of business and the circumstances of the claim. The FSCS only pays compensation for financial loss and the limits are per person per firm, and per claim category, as listed below:
Long Term Insurance Contracts:
Arranging and advising on long term insurance contracts (e.g. a life insurance or critical illness policy) is covered for 100% of the claim without upper limit.
General Insurance Contracts:
Arranging and advising on general insurance contracts (e.g. Building and Contents) is covered for 90% of the claim without upper limit.
Mortgages
Arranging and advising on mortgages is covered up to a maximum limit of £85,000 per person per firm. Further information about the FSCS is available from their website: www.fscs.org.uk
