TERMS OF BUSINESS

These Terms of Business are effective from 01.01.2023 and are the general terms under which Pangea Mortgages 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 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 can provide services through either directly or indirectly with are as follows;

 

    • Haven Mortgages Ltd.

    • Finance Ireland Residential Mortgages

    • Dilosk / ICS

    • Seniors Money

    • Home Plus

    • Permanent TSB plc

    • Brokers Ireland

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. Pangea Mortgages may also refer you to one of our referral partners Best Rate Mortgages to help find the most appropriate offer for your circumstances

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 betweenthe 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. If we arrange a full mortgage loan offer for you and you switch to another provider a fee for costs incurred on that application will apply. We may charge €199 or €299 per application depending on the complexity of the case.

Deposit

When applying with lenders we may require a deposit fee to cover the costs we incur as a result of the application. This fee is fully refundable once you drawdown your mortgage through us. Cases where this fee would not be refunded include fraud or failure to provide accurate information to us.

Receipts

Pangea Mortgages will issue receipts for each payment received. We do this via Paypal or Revolut.

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

on your repayments. Your home is at risk if you do not maintain your agreed repayments. You are strongly advised tocontact your lender in the event you are having problems with your payments.

Conflict of Interest Policy

It is Pangea Mortgages policy to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise, we will advise you of this in writing before proceeding to provide any business service and agreed by you prior to completing any business with us. If you have not been advised of any such conflict you are entitled to assume that none arises.

Data Protection

Pangea Mortgages complies with the Data Protection Act, 1988 and 2018, treating all personal data as confidential information. We will use this data only for the purpose(s) intended. Pangea Mortgages will not disclose such information except as permitted by you or as required by law. We will provide you with a separate Data Privacy Notice.

Regular Reviews

You are strongly advised to contact us in the event of any change in your circumstances or requirements and request a review of the product and advice so that we can ensure that you are provided with up to date advice and products best suited to your needs.

Complaints Procedure

Pangea Mortgages has a complaints procedure in place, complaints can be by telephone, in writing, email or face to face. If the complaint is not in writing or by email, we will write to you to confirm our understanding of your verbal complaint. We will respond to complaints in a timely and fair manner. All complaints should be made to: Pangea Mortgages 15-2 Crag Terrace, Clondalkin Dublin 22. Pangea Mortgages endeavour to address the specific issues raised by our customers, to achieve a situation where our customer feels we have addressed the complaint. Where customers remain dissatisfied with the outcome of our efforts to resolve their complaint, we will advise you of your right to refer your grievance to the Financial Services & Pensions Ombudsman. Contact details as follows; Financial Services & Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2. 01 5677000, info@fspo.ie.

Governing Law and Business Succession

These Terms of Business shall be governed by and construed in all respects according to the laws of the Republic of Ireland and will be deemed to cover any successors in business to Pangea Mortgages

Pangea Ireland Digital Limited t/a, Pangea Mortgages, is Regulated by the Central Bank of Ireland. Reg No.

C173830. Registered Address 15-2 Crag Terrace, Clondalkin Dublin 22

Directors: John Fahy