Privacy/Complaints Policy

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 or 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 Mortgage, Finance and Insurance requirements, in addition to Investment and Pension services by way of introduction to Lakeside Financial Solutions Ltd. and for Will and Estate planning through Lakeside Wills Ltd. Your Personal Data may include:

  • Title, names, 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 Mortgage, Finance and Insurance requirements, in addition to Investment and Pension and Will 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 Mortgage, Finance and Insurance requirements in addition to Investment and Pension services by way of introduction to Lakeside Financial Solutions Ltd. and for Will and Estate planning through Lakeside Wills Ltd. 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.

Alternatively, either in the course of initial discussions with you or when the contract between us has come to an end for whatever reason, we have the right to use Your Personal Data provided it is in our legitimate business interest to do so and your rights are not affected. For example, we may need to respond to requests from mortgage lenders, insurance providers and our Compliance Service Provider relating to the advice we have given to you, or to make contact with you to seek feedback on the service you received. On occasion, we will use Your Personal data for contractual responsibilities we may owe our regulator The Financial Conduct Authority, or for wider compliance with any legal or regulatory obligation to which we might be subject. In such circumstances, we would be processing Your Personal Data in order to meet a legal, compliance or other regulatory obligation to which we are subject.

The basis upon which we will process certain parts of Your Personal Data

Where you ask us to assist you with for example your insurance or ethical investments, in particular life insurance and insurance that may assist you in the event of an accident or illness, we will ask you information about your ethnic origin, your health and medical history (Your Special Data). We will record and use Your Special Data in order to make enquiries of insurance and investment providers in relation to insurance products that may meet your needs and to provide you with advice regarding the suitability of any product that may be available to you. If you have parental responsibility for children under the age of 13, it is also very likely that we will record information on our systems that relates to those children and potentially, to their Special Data. The arrangement of certain types of insurance may involve disclosure by you to us of information relating to historic or current criminal convictions or offences (together “Criminal Disclosures”). This is relevant to insurance related activities such as underwriting, claims and fraud management. We will use special Data and any Criminal Disclosures in the same way as Your Personal Data generally, as set out in this Privacy Notice. Information on Special Category Data and Criminal Disclosures must be capable of being exchanged freely between insurance intermediaries such as our Firm, and insurance providers, to enable customers to secure the important insurance protection that their needs require.

How do we collect Your Personal Data?

We will collect and record Your Personal Data from a variety of sources, but mainly directly from you. You will usually provide information during the course of our initial meetings or conversations with you to establish your circumstances and needs and preferences in relation to Mortgages, Finance, Insurance and Investments and Wills & Estate Planning. You will provide information to us verbally and in writing, including email.

We may also obtain some information from third parties, for example, credit checks, information from your employer, and searches of information in the public domain such as the voters roll. If we use technology solutions to assist in the collection of Your Personal Data for example software that is able to verify your credit status. We will only do this if we have consent from you for us or our nominated processor to access your information in this manner. With regards to electronic ID checks we would not require your consent but will inform you of how such software operates and the purpose for which it is used.

What happens to Your Personal Data when it is disclosed to us?

In the course of handling Your Personal Data, we will:

  • Record and store Your Personal Data in our paper files, mobile devices and on our computer systems (websites, email, hard drives, and cloud facilities). This information can only be accessed by employees and consultants within our Firm and only when it is necessary to provide our service to you and to perform any administration tasks associated with or incidental to that service
  • Submit Your Personal Data to Product Providers, Mortgage Lenders, Commercial Lenders and/or Insurance Product providers both in paper form and on-line via a secure portal. The provision of this information to a third party is essential in allowing us to progress any enquiry or application made on your behalf and to deal with any additional questions or administrative issues that lenders and providers may raise.
  • Use Your Personal Data for the purposes of responding to any queries you may have in relation to any Mortgage, Finance, Insurance, Investment or Estate Planning Product providers you may take out, or to inform you of any developments in relation to those products and/or polices of which we might become aware

Sharing Your Personal Data

From time to time Your Personal Data will be shared with:

  • Mortgage lenders, Finance lenders, Insurance providers and Investment Providers.
  • Third parties who we believe will be able to assist us with your enquiry or application, or who are able to support your needs as identified. These third parties will include but may not be limited to, our Compliance Advisers, Product specialists, estate agents, providers of legal services such as estate planners, conveyancing, surveyors and valuers (in each case where we believe this to be required due to your particular circumstances).

In each case, your Personal Data will only be shared for the purposes set out in this customer privacy notice, i.e. to progress your Mortgage, Finance and Insurance requirements in addition to Investment and Pension services by way of introduction to to Lakeside Financial Solutions Ltd. and for Will and Estate planning through Lakeside Wills Ltd. enquiry and to provide you with our professional services. Please note that this sharing of Your Personal Data does not entitle such third parties to send you marketing or promotional messages: it is shared to ensure we can adequately fulfil our responsibilities to you, and as otherwise set out in this Customer Privacy Notice. We do not envisage that the performance by us of our service will involve Your Personal Data being transferred outside of the European Economic Area.

Security and retention of Your Personal Data

Your privacy is important to us and we will keep Your Personal Data secure in accordance with our legal responsibilities. We will take reasonable steps to safeguard Your Personal Data against it being accessed unlawfully or maliciously by a third party. We also expect you to take reasonable steps to safeguard your own privacy when transferring information to us, such as not sending confidential information over unprotected email, ensuring email attachments are password protected or encrypted and only using secure methods of postage when original documentation is being sent to us. Your Personal Data will be retained by us either electronically or in paper format for a minimum of six years, or in instances whereby we have legal right to such information we will retain records indefinitely.

Your rights in relation to Your Personal Data

You can: 

  • request copies of Your Personal Data that is under our control 
  • ask us to further explain how we use Your Personal Data 
  • ask us to correct, delete or require us to restrict or stop using Your Personal Data (details as to the extent to which we can do this will be provided at the time of any such request) 
  • ask us to send an electronic copy of Your Personal Data to another organisation should you wish 
  • change the basis of any consent you may have provided to enable us to market to you in the future (including withdrawing any consent in its entirety)

How to make contact with our Firm in relation to the use of Your Personal Data

If you have any questions or comments about this document, or wish to make contact in order to exercise any of your rights set out within it please contact: The Data Protection Officer, Lakeside Wealth Management Ltd., Biz Hub, Longfields Court, Wharncliffe Business Park, Middlewoods Way, Barnsley, S71 3GN. Tel: 03302 230 404 If we feel we have a legal right not to deal with your request, or to action, it in different way to how you have requested, we will inform you of this at the time. You should also make contact with us as soon as possible on you becoming aware of any unauthorised disclosure of Your Personal Data, so that we may investigate and fulfil our own regulatory obligations. If you have any concerns or complaints as to how we have handled Your Personal Data you may lodge a complaint with the UK’s data protection regulator, the ICO, who can be contacted through their website at https://ico.org.uk/global/contact-us/ or by writing to Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF.

 

GENERAL INFORMATION ABOUT OUR AUTHORISATION STATUS & SERVICES

THE FINANCIAL CONDUCT AUTHORITY

MJA Financial Solutions is a trading style of Lakeside Wealth Management Limited, which is authorized and regulated by the Financial Conduct Authority (FCA).

The FCA regulates financial services in the UK, their address is 25 The North Colonnade, Canary Wharf, London, E14 5HS.

You can check our authorization and permitted activities by entering our FCA number, which is 458204, on the Financial Services Register by visiting the FCA’s website:

www.fca.org.uk/firms/systems-reporting/register

You can also contact the FCA by telephone on 0800 111 6768 to verify our regulatory status.

YOUR PERSONAL DETAILS & INFORMATION DISCLOSURE

The advice we provide and any recommendations we make for you will be based on the information that you give to us, it is extremely important that you paint an accurate picture of your current situation. We will store your information in a document known as a ‘fact find’, a copy of which can be made available on request.

We will ask you to confirm that the information held in the ‘fact find’ is correct before you proceed with any recommendations. If your circumstances change at any time in the future, please let us know so that we can check that our advice and recommendations are still appropriate for you.

We cannot accept liability if any advice that we provide does not meet your needs and you suffer financial loss because you have provided inaccurate information or not told us something which may have affected our recommendation, nor can we confirm the accuracy of third party information upon which we rely.

You will receive a copy of our Initial Disclosure Documents and Client Agreement where appropriate, which outlines our service and how we get paid. Where any fees are due either now, or in the future, they will be explained to you in advance and you will be asked to sign a fee agreement outlining the terms. A copy of all these documents will be held on your file and further copies can be requested.

INSTRUCTIONS

We prefer our clients to give us instructions in writing, to aid clarification and avoid future misunderstandings. We will, however, accept oral instructions provided they are confirmed in writing.

CLIENT VERIFICATION

We may be required to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up-to-date. For this purpose, we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning.

OUR ETHICAL POLICY

We are committed to providing the highest standard of advice and service possible. The interest of our customers is paramount to us and to achieve this we have designed our systems and procedures to place you at the heart of our business. In doing so, we will:

– be open, honest and transparent in the way we deal with you;

– not place our interests above yours;

– communicate clearly, promptly and without jargon;

– seek your views and perception of our dealings with you to ensure it meets your expectations or to identify any improvements required.

COMPLAINTS

We trust we will deliver quality service at all times. However, if you wish to register a complaint, please write to The Complaints Offer, Lakeside Wealth Management Limited, Biz Hub, Longfields Court, Wharncliffe Business Park, Middlewoods Way, Barnsley, S71 3GN or by phone on 03302 230404.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.

COMPENSATION SCHEME

If you make a complaint and we are unable to meet our liabilities, you may be entitled to compensation from the Financial Services Compensation Scheme.

Mortgage business will normally be covered up to a maximum of £85,000.

Insurance business will normally be covered up to a maximum of 90% or 100% depending on the product type.

Investment business will normally be covered up to a maximum of £85,000.

Further information about the limits applicable to the different product types is available from the FSCS at: www.fscs.org.uk/what-we-cover/products

FORCE MAJEURE

Neither MJA Financial Solutions nor Lakeside Wealth Management Ltd shall be in breach of this agreement and shall not incur any liability to you if there is any failure to perform its duties due to any circumstances reasonably beyond its control.

MONEY LAUNDERING

Anti-money laundering regulations mean we need to check the identity of our clients and gather information about the nature of financial business we conduct on their behalf, we need to make sure this information is up to date and so we may use electronic identity verifications from time to time, not just at the beginning of our work for you. When undertaking electronic checks a soft footprint will be left on your credit file.

TELEPHONE CALLS

For training and quality purposes we may record telephone conversations with you and hold them on your file.

CONTRACT LAW

Our agreement with you is governed by, and shall be construed in accordance with English Law and parties shall submit to the exclusive jurisdiction of the English Courts.

TERMINATION

This agreement and the authority to act on your behalf may be terminated at any time without penalty by either party giving a 7 day notice period in writing to that effect to the other, but without prejudice to the completion of transactions already initiated. Any transactions effected before termination and a due proportion of any period charges for services shall be settled to that date.

 

GENERAL INFORMATION ABOUT OUR MORTGAGE & INSURANCE SERVICES

You should read the following information together with the document titled; ‘General Information About our Authorisation & Services’

MJA Financial Solutions is a Trading Style of Lakeside Wealth Management Ltd. which is authorised and regulated by the Financial Conduct Authority (458204)

OUR MORTGAGE SERVICES

We are mortgage advisers who work on a whole of market basis.

We will recommend a mortgage product that is suitable for you following an assessment of your personal needs and circumstances. This will include a detailed assessment of affordability.

We will consider all products and lenders that we have access to. This means we will not consider those lenders that are only available by you going direct to them. (Only include for independent whole of market)

Where you are increasing your borrowing, we will consider the merits of both a new first charge mortgage and securing this by an additional mortgage on a second charge basis. You may have the option of a further advance from your existing lender, however, we will only consider this where we can deal directly with the lender on your behalf. It may be in your best interests to explore this option and look at the further alternative of an unsecured loan, as these may be more appropriate for you.

THE COST OF OUR MORTGAGE SERVICES

Typically, we charge a maximum broker fee of £495.00 for standard mortgages; to undertake the work required to prepare a suitable recommendation, for providing advice and for submitting your mortgage application. This fee becomes payable as follows:

At the point where I research the market for you: £0.00

On Submission of an Application Form to a Lender: £495.00

Once your Mortgage Offer is Issued: £0.00

When your Mortgage or Loan Completes: £0.00

We reserve the right to charge up to an additional 1% of the loan for work on debt consolidation mortgages, adverse credit mortgages, commercial mortgages or complex situations. For example, on a £100,000 loan we may charge an additional £1,000. Any additional fee will be disclosed in advance as part of your fee agreement.

We will receive and retain a commission from the lender when your mortgage completes. The amount will be confirmed in the lender disclosure document. Should you wish you can request to view the commission rates from each of the lenders we have considered at the time that we make our recommendation to you.

REFUND OF FEES

Please note our fee will still be charged should the lender reject your mortgage application due to you not disclosing any material information about your personal situation. It should also be noted we do not provide a refund should you decide not to proceed with the mortgage loan after we have made a recommendation to you.

CREDIT SCORE

We may undertake lender decision in principles and credit scores as part of our process, which may leave ‘footprints’ or records on your credit file. Too many footprints can affect future applications for loans and credit and as such we suggest that you accurately inform us of any adverse credit of which you are aware to reduce the number of checks we need to complete.

OUR INSURANCE SERVICES

We offer non – investment protection e.g. term assurance, income protection and critical illness from a range of insurers. For Non-investment protection contracts we are an intermediary and will act on your behalf when providing advice and making our personal recommendation(s) to you. We will do this based on a fair and personal analysis of insurers for term assurance, income protection, critical illness.

We also offer buildings & contents insurance and accident, sickness & unemployment(ASU) from a range of insurers. For general insurance contracts we are an intermediary and will act on your behalf when recommending an insurer based on your demands and needs from a fair analysis of the market. The insurers we consider will be listed to you when we carry out our research. It will be your responsibility to ensure the policy meets your demands and needs for building and/or contents, private medical insurance, accident sickness and unemployment.

We will provide you with advice and arrange the insurance contract on your behalf after assessment of your personal circumstances and needs. Full details of the products we recommend will be confirmed in the product literature you will receive before it is arranged.

THE COST OF OUR INSURANCE SERVICES

We will receive and retain a commission from the insurance provider when your plan commences. The amount will be confirmed in the provider illustration. Should you wish you can request to view the commission rates from each of the providers we have considered at the time that we make our recommendation to you.

CANCELLATION RIGHTS

Certain protection and insurance contracts allow you the right to cancel after a contract has been put in force. Prior to you entering into a contract of protection or insurance you will be provided with specific details should this apply to include: its duration; conditions, practical instructions and any costs for exercising it, together with the consequences of not exercising it.

IMPORTANT DISCLAIMER

Mark Attridge of MJA Financial Solutions can only help you with pensions and investments by recommending you to a Financial Adviser at Lakeside Financial Solutions Ltd. who has the appropriate specialist knowledge and qualifications.

MJA Financial Solutions does not make recommendations on whether buy to let or commercial property investments are suitable for you and cannot predict how property prices may change in the future or comment on your taxation situation or the implications of these. Mark Attridge can arrange a suitable mortgage once you have decided a property investment is right for you.

Lakeside Wealth Management Ltd. cannot held liable for any losses or take any responsibility for any investment or pension advice other than that offered by Lakeside Financial Solutions Ltd. If you take out and investment or pension without advice from an appropriately authorized firm you might not be protected by the Financial Conduct Authority and also might not have access to the Financial Ombudsman or the Financial Services Compensation Scheme if something goes wrong.

Tax Advice, Wills, and Estate Planning are also outside the scope of service.