Modern Living Room Mortgages Holywood

 

Treating Customers Fairly Mortgages Northern Ireland

What is TCF?
The Financial Services Authority (FSA) have been working on Treating Customers Fairly (TCF) initiative for in excess of ten years. The aim is for firms to:

  • put customers at the heart of their business.
  • help customers become more knowledgeable about financial products.
  • help build consumer confidence in the financial services industry.
  • ensure that customers are only offered products suitable to their needs and have the information to make an informed decision.
  • ensure that firms meet the requirement to 'pay due regard to the interests of its customers and treat them fairly'.

FSA’s Principles for Business
Please find a list of principles which the FSA expect companies to abide by to ensure customers are treated fairly

Principles 1, 6 7, 8 and 9 are of particular relevance to customers

  • Conduct business with integrity.
  • Conduct business with due skill, care and diligence.
  • Take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems.
  • Maintain adequate financial resources.
  • Observe proper standards of market conduct.
  • Pay due regard to the interests of customers and treat them fairly.
  • Pay due regard to the information needs of clients, and communicate information to them in a way which is clear, fair and not misleading.
  • Manage conflicts of interest fairly, both between ourselves and our customers and between a customer and another client.
  • Take reasonable care to ensure the suitability of advice and discretionary decisions for any customer who is entitled to rely upon its judgement.
  • Arrange adequate protection for clients' assets when it is responsible for them.
  • Deal with its regulators in an open co-operative way, and must disclose to the FSA appropriately anything relating to the firm of which the FSA would reasonably expect notice.

At Croft Mortgage Services we embrace the above principles to ensure our customers are treated fairly. We continue to monitor our processes through surveys and questionnaires on how you feel you have been treated. This feedback will help us review our systems and improve where necessary.

For further information see the FSA website in the useful links section.

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