Mortgage Management (307994) - TCF

TCF statement

For far too long, consumers have been taken advantage of, by funding establishments and
unethical intermediaries. This created an unhealthy trading platform in the industry and put the
firms that adhered to fair treatment of customers in an unfair position. I therefore fully support
the FSA TCF policy and the action they are taking to ensure that firms either comply or face
serious action.

1. Aim:

Consumers can be confident that they are dealing with firms where the fair treatment of
customers is central to the corporate culture.

How it is achive:

• Understanding that TCF is my sole responsibilty and I therefore, do not delegate this to
anyone else. I make sure that fair practise is adopted in all aspects of the business.
• As early as 2002, self certification business was treated with caution, and own criteria
was applied rather than that of the lender.
• At frequent intervals, and in some cases on a daily basis, anylises are carried out on
aspects of business and any areas where improvements are identified are implimented, in
certain cases, on the spot.
• Records are kept and any action taken as and when required, using customer feed back to
make certain decisions.
• Use of plain English, and in certain cases, foreign language, where the use of that
language will better explain the matter to a consumer, whoes knowledge of English may
be limited.
• Complaints procedure is in place and a copy supplied to customer prior to application.
• Original documents always checked, rather then photocopy.
• Self study, trainning and attending seminars atleast anually, assists me in keeping
competent.
• I belief that, treating clients fairly and their satisfation are at the heart of any sucessful
business, ensuring today’s, as well as tomorrow’s survival in a highly competitive
market.

2. Aim

Products and services marketed and sold in the retail market are designed to meet the needs of
identified consumer groups and are targeted accordingly.

How it is achive:

• Completing a fact find, without leaving parts blank, unless they are not applicable. This
is updated regulary to ensure it captures the required infomation, but being to the point.
• A record of the products sourced is kept
• A detailed income and expense form is completed, to ensure customer affordability in so
far as is possible, ensuring a suitable margin that the customer feels comforable with.
• The effect of interest rate changes on the clients afforability.

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 • The key fact illustration is run by the client for face to face appointments. In case of
others, a telephone run is offered. The customers’ attitude to risk is taken into
consideration. As early as 1982, this has been my practise. The phrase used was“.......Mr
& Mrs Client, are you sure you can meet this commitment, not just today or the next
month, or the next year, and the year after that, but year after year for the next 25
years...”
• I rely on my own search, with a firm belief that a “job self done, is a job best done”
• I ensure that I have good product knowledge and consider that remaining with the
currrent product provider, the customer maybe overall better off.

3. Aim

Consumers are provided with clear information and are kept appropriately informed before,
during and after the point of sale

How it is achive:

• Customers are provide with upto date information about the progress of their matter.
• Product availability, and change, particulary with regards to interest rate and loan to
value, are brought to the attention of the customer during the process period.
• Expaining products clearly to the clients, with terms and conditions
• High lighting the effects of adding fees or consolidating debts

4. Aim

Products sourced take customer circumstances into consideration.

How it is achive:

• Updating customer circumstances at review dates

• Checking file to enusre that adequate products are sourced
• Documents are requested in advance so as to get an insite into clients profile
• Setting review date prior to the mortgage deal ending
• Repayment methods explored for an interest only mortgage
• Avoiding standardisation of documents
• Notes are recorded with customer details and date. Where more then one record is made
in same day, time of each one is recorded

5. Aim

Consumers are provided with products that perform as firms have led them to expect, and the
associated service is of an acceptable standard and as they have been led to expect

How it is achive:

• Delivering the promised service

• Improving service by seeking & studying customer feed back and acting on it
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• Reseaching products and providers to ensure customers get best products and service
levels
• Only products fully understood by me are offered

6. Aim

Consumers do not face unreasonable post-sale barriers imposed by firms to change product,
switch provider, submit a claim or make a complaint.

How it is achive:

• Clarity at POS and information to customer about what we can deliver, product and
lender restrictions and what can be cliaimed for, and any exclusions
• Clearly set out complaints procedure provided to the client in writing
• Understanding and implemeding any consistancy out of customer complaints or feed
back
• TCF policy provide to client in writing
• Learning from historic issues

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