TERMS OF BUSINESS

These Terms of Business are effective from 01.01.2021 and are the general terms under which Pangea Mortgages & Pangea Ireland will provide business services to you and the respective duties and responsibilities of both parties in relation to such services. Please read these terms and if you have any questions, we will be more than happy to clarify them. If any material changes are made to these terms, we will notify you in due course.

Authorised Status and Statutory Codes

Pangea Ireland Digital Limited trading as Pangea Mortgages & Pangea Ireland is regulated by the Central Bank of Ireland. Our regulatory reference number is C173830. Pangea Mortgages is subject to the Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards. Both our authorisation status and above codes can be verified by the Central Bank of Ireland which can be accessed on www.centralbank.ie:

Services Provided

Pangea Mortgages principal business is to provide advice and arrange transactions on behalf of clients in relation to mortgage products .We recommend the product that, in our professional opinion, is best suited to your needs and objectives from this selection of products.

A full list of insurers, product producers and lending agencies with which we deal with are as follows;

➢ Haven (AIB)
➢ Finance Ireland
➢ Dilosk / ICS (Via Broker Assist)
➢ Seniors Money
➢ Best Rate Mortgages Limited
➢ Permanent tsb plc (Via Broker Assist)

Mortgages

Pangea Mortgages provides advice on and arranges mortgage products on a limited analysis of the market with the lenders we have agencies with. Pangea Mortgages collects information from you before we can offer any advice on mortgages. This is due to the fact that a key issue in relation to mortgage advice is affordability. Such information should be produced promptly upon our request. Where the creditor is unable to carry out an assessment of creditworthiness because the consumer chooses not to provide the information or verification necessary for an assessment of creditworthiness, the credit cannot be granted.

Disclosure of information

We act as your representative to the companies we have agencies with and we will provide assistance to you for any queries you may have in relation to the policies or in the event of a claim during the life of the policies and we will explain to you the various restrictions, conditions and exclusions attached to your policy. However, it is your responsibility to read the policy documents, literature and brochures to ensure that you understand the nature of the policy cover.

You are under a duty to answer all questions posed by the lenders or ourselves on your behalf, honestly and with reasonable care.

You must inform and disclose any material information including any material changes that might take place between the time you complete an application form and the time you drawdown your mortgage.

Remuneration

Pangea Mortgages is remunerated on a commission basis and other payments from lenders on completion of your business. The amount of commissions paid to us is confirmed prior to you transacting business by our advisor and by the institution involved in underwriting the mortgage. We may receive up to 1% (or whatever maximum is applicable) of the loan for arranging mortgage finance. This commission is paid by the mortgage lender. The actual amount of commission will be disclosed at a later stage in the ESIS (European Standardised Information Sheet) which will be forwarded to you at loan offer stage.

A summary of the details is available on our website. If you need further explanation on this information, please call us.

Charges

Pangea Mortgages may also charge a fee for any services provided but no fee will be charged until it has been confirmed to you in writing and the charge is accepted by you prior to commencing any advice.

Receipts

Pangea Mortgages will issue receipts for each payment received.

Default of payments by clients

Pangea Mortgages will, if necessary exercise its legal rights to receive any payments due to it from clients for business services provided by it and, to be reimbursed for any value obtained by Pangea Mortgages on behalf of clients who subsequently default in any payment due to the firm. Details of these provisions will be included in your product terms and conditions. Mortgage lenders may seek early repayment of a loan and interest if you default