Terms of Business

About our services and costs

Otis Financial Solutions

124 City Road

London

EC1V 2NX

The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. This document

is designed by the FCA to be given to consumers considering buying certain financial

products. 

You need to read this important document. It explains the service you are

being offered and how you will pay for it.

Whose products do we offer?

Insurance

We offer products from a range of insurers for Non-Investment Life Assurance, Critical

Illness Cover, Income Protection and Home Insurance. Regulated Mortgage Products

Regulated Mortgage Products

We offer a comprehensive range of mortgages from across the market but not deals that

you can only obtain by going direct to a lender. We are not limited in the range of

mortgages we will consider for you. We offer first charge mortgages and have a referral

service for second charge mortgages.

Which service will you provide us with?

Insurance

We will advise and make a recommendation for you after we have assessed your needs

for Non-Investment Life Assurance, Critical Illness Cover, Income Protection and Home

Insurance.

Regulated Mortgage Products

We will advise and make a recommendation for you after we have assessed your needs

for regulated mortgage products. We offer first charge mortgages and have a referral

service for second charge mortgages.

What will you have to pay us for our service?

Insurance

No fee for Life Insurance, Critical Illness products and Non-Investment Insurance

Contracts. You will receive a quotation which will tell you about any other fees relating to

any particular insurance policy.

Mortgages

You may be charged a fee for our service. Any fees payable will be made clear to you at the 

outset before you decide to proceed with any of our services.

We will be paid commission from the lender.

The amount of commission we receive varies from lender to lender. You will receive an

illustration when considering a particular mortgage which will highlight the key facts

about the mortgage product, including any fees relating to it and the amount of any

commission due to us from the mortgage lender.

Who regulates us?

Otis Financial Solution is a trading style of UMARI Finance Group Limited, registered

office 124 City Road, London, EC1V 2NX is authorised and regulated by the Financial

Conduct Authority. Financial Services Register number 994960.

Our permitted business is providing Mortgage Advice, Non-Investment Protection or

Insurance contracts and General Insurance.

You can check this on the Financial Services Register by visiting the FCA’s

website www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on

0800 111 6768.

What to do if you have a complaint

If you wish to register a complaint, please contact us:

In writing UMARI Finance Group Limited

124 City Road

London

EC1V 2NX

by phone 0207 078 4181

by e-mail: peterpaisis@otisfs.co.uk

We will do our best to resolve your concerns however, if we do not resolve the complaint

to your satisfaction, you may be entitled to contact The Financial Ombudsman Service

(FOS) at:

Exchange Tower

Harbour Exchange Square

Isle of Dogs

London

E14 9SR

Phone: 0800 023 4567 or 0300 123 9123

E-mail: complaint.info@financial-ombudsman.org.uk

Website: www.financial-ombudsman.org.uk

Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if

we cannot meet our obligations. This depends on the type of business and the

circumstances of the claim.

Insurance

Long Term Insurance Contracts

Arranging and advising on long term insurance contracts (e.g. a life insurance or critical

illness policy) is covered for 100% of the claim without upper limit.

General Insurance Contracts

Arranging and advising on compulsory classes of insurance, insurance advising and

arranging is covered for 100% of the claim, without any upper limit.

Arranging and advising on other types of general insurance contracts (e.g. Buildings &

Contents) is covered for 90% of the claim, without any upper limit.

Mortgages

Arranging and advising on mortgage products is covered up to a maximum limit of

£85,000 per person per firm.

What is not covered?

Unregulated mortgages, such as Buy to Let, Bridging and Commercial Mortgages are

not covered by FSCS.

Further information about the FSCS is available from their website: www.fscs.org.uk.