Application Process

• Mortgage Applications and associated documentation must be presented to a satisfactory standard, with all relevant questions legibly and correctly answered.
• Business is written on the understanding that the Intermediary takes responsibility for the accuracy of the information input to obtain a KFI for regulated mortgages.
• All information supplied on mortgage Application forms and otherwise, including information relevant to identifying whether or not a mortgage is regulated, must be true to the Intermediary’s knowledge or belief.
• PFC reserves the right to take additional references and has the final decision on whether to accept an application.
• PFC cannot divulge to Intermediaries or applicants any confidential information received from third parties (including Credit Reference Agencies). The name of any Credit Reference Agency used will be supplied upon request.
• The applicant should be fully aware if the Intermediary is submitting a mortgage application.
• The intermediary confirms that they wil take responsibility for ensuring their applicant signs and understands all relevant declarations within the Mortgage Application Form (particularly when the Intermediary is submitting an internet mortgage application).

General Obligations

• If authorised, the Intermediary must act in accordance with it’s obligations under MCOB and other FCA rules.
• If not authorised by the FCA, the Intermediary will be restricted to Non Regulated lending subject to holding a valid Consumer Credit Licence and will keep PFC advised of any change in this status.
• The Intermediary will notify PFC if it becomes aware of any circumstances whereby the FCA may initiate disciplinary proceedings against it.
• The Intermediary will immediately notify PFC if its FCA status ceases or changes in any way.
• The Intermediary may not use PFC’s name in any advertising of other Financial Promotion or make any offer or representation on behalf of PFC.
• The Intermediary confirms that he understands that PFC will not transact any business entered into under a Distance Marketing Contract as defined by MCOB rules.
• 6 months after completion, the Lender will require the borrower’s written consent to provide the Intermediary with any information on the borrower’s mortgage account.

Payment of Fees

PFC reseves the right to withhold procuration fees if it is aware of any breach of the above obligations.Additionally PFC reserves the right to withhold procuration fees to offset against any sums owing from the Intermediary.

Data Protection

The Intermediary will comply with the Data Protection Act 1998.

Money Laundering

The Intermediary will comply with all Money Laundering regulations and directives applicable to mortgage lending.