We may earn our remuneration on the basis of fee, commission and any other type of remuneration, including a non-monetary benefit or on the basis of a combination of these methods. A non-monetary benefit will only be accepted if it enhances the quality ofthe service to our clients. In addition we may charge you a fee for services.

You may choose to pay in full for our services by means of a fee. Where we receive recurring commission, this forms part of the remuneration for initial advice provided. We reserve the right to charge additional fees in relation to on-going advice/assistance

A summary of the details of all arrangements for any fee, commission other reward or remuneration paid or provided to us which we have agreed with product providers isavailable on our website www.mccarney.ie.

In certain circumstances, it will be necessary to charge a fee for services provided. These are listed under the product headings below. In other circumstances where feesare chargeable or where you choose to pay in full for our service by fee, we will notify you in writing in advance and agree the scale of fees to be charges if different from the fees outlined below. Where is it not possible to provide the exact amount, then we will provide you with the method of the calculation of the fee.

If we receive commission from a product provider we will advise you of the amount achieved, where it is not possible to provide the exact amount, we will provide you with the method of the calculation of the commission payment.

Where a fee is applicable you will be advised of this in writing before we commence any work on your behalf.

Initial Meeting

The initial fact find meeting is of no cost to you. This is an important meeting where we gather information about you, your family and your financial circumstances. This information is used to highlight and prioritise your financial needs and objectives. This is also an opportunity to decide if our firm and you as the customer would like to work together. At this meeting we will establish if any fee is payable for our services and we will also advise if we will receive any additional commission in respect of the services provided to you.

Mortgages

Commission

We currently receive commission from lenders up to a rate of 1% of the value of the amount borrowed (subject to certain ceilings). The actual amount of commission will be disclosed within our statement of suitability and will be included in the ESIS (European Standardised Information Sheet) which will be forwarded to you by your lender.

Commission is paid to us upfront one month after drawdown. In the event that you redeem your mortgage during the first 3 years, the lender will clawback commission paid to us on a reducing scale over the same period. In these circumstances and at our discretion we will in turn seek a refund of that amount directly from you.

Fees

We charge a fee of €250 for advice, preparation and submission of your mortgage application and a further fee of €250 upon receipt of approval. This is a total once off fee of €500 (not per lender) and this fee is non-refundable. This is not in any way an indication of mortgage/loan approval. Our fee will be notified to the lender who will include this fee into the calculation of the APRC (Annual Percentage Rate Charge).

If we provide mortgage advice and obtain a loan offer on your behalf and you subsequently do not proceed with your mortgage application through our firm, we will charge an arrangement fee of €500 for our services.

Please also note that some lenders may charge arrangement fees in certain circumstances. If this applies to you these fees will be specified in your Loan Offer. You have the right to pay this fee separately or to include this in your loan amount. Typically, this situation arises in relation to specialist lending.

If we provide mortgage advice and obtain a Loan Offer for you and you subsequently do not proceed with your mortgage application through our firm, we will charge you an arrangement fee of €500 for our services. In addition to this, we may in certain circumstances charge a fee for arranging a mortgage on your behalf. This fee may range up to 1% of the loan amount depending on the type of mortgage and time spent and will be advised to you upfront and in writing if this applies.

Tracker Redress Fees

We can offer advice if you feel that you may be involved or in fact an impacted Tracker redress customer. We charge a fee of €500 for advice and review in relation to Tracker Redress and where we are successful in securing redress and compensation on yourbehalf we will charge a fee of €250 per hour (or part hour) for work carried out on your behalf.

Investment Intermediary Services

Commissions

We are remunerated by commission for our investment intermediary services. Our commission payment will rangefrom 0% -5% of any single premium or annual premium (if monthly premiums are proposed) the amount paid depends on the provider and contract involved. Where we receive recurring commission (trail commission) this forms part of the remuneration for our initial advice provided. Commissions can be paid upfront (indemnified) or spread over the term of the policy. In the event that you cancel your investment with in the first 5 years then the provider will usually clawback commission paid to us on a reducingscale over the same period. In these circumstances and at our discretion we will in turn seek a refund of that amount directly from you.

Fees

McCarney Financial Services Limited may in certain circumstances charge a fee, which may range from €250 -€5,000 depending on the type of transaction involved and time spent. All fees will be discussed in detail at the outset of the transaction.

Life & Pensions/Deposits & Life Wrapped Investments

Commissions

We receive a commission payment for placing business with life companies on your behalf. This commission can range from premium x 12 x 75% to premium x 12 x 225% for monthly premium life/protection benefits. Commission payments can be paid upfront (indemnified) or spread over the term of the policy.

In the event that you cancel your plan within the first 1 –5 years the life company will usually clawback commission paid to us on a reducing scale during that period. In these circumstances and at our discretion we will in turn seek a refund of that amount directly from you.

A commission of 0% -5.5% is available for pension single premium contracts and for regular premium contracts the commission received is premium x 12 x 0% up to premium x 12 x 25% depending on the company and type of business placed. We may also receive recurring commission (trail commission) which forms part of the remuneration for initial advice provided. Commission may be paid upfront (indemnified) or spread over the term of the policy. In the event that you cancel your plan during the first 1 –5 years the pension provider will usually clawback commission paid to us on a reducing scale during that period. In these circumstances and at our discretion we will in turn seek a refund of that amount directly from you.

Fees

McCarney Financial Services Limited may also charge an arrangement fee, agreed with clients, depending on the complexity of the transaction, time spent. Our fee range is from €100 -€5,000 and all fees will be discussed with you at the outset.

General Insurance Commissions and Fees

While we do not charge administration or broker fees when arranging general insurance policies, we do receive a commission payment for placing business with the companies mentioned above. The commission that we receive for general insurance business is between 10% -20% of the annual premium depending on the company and product arranged. Commission is paid upfront at policy inception or renewal. In the event that you cancel your plan mid-term, the provider will clawback commission on a retrospective basis for the remainder of that year. In these circumstances and at our discretion we will in turn seek a refund of that amount directly from you.

Claims

In the event that any of our customers require assistance in making a claim we propose to charge up to 15% of the successful claim amount. All fees will be discussed and agreed in writing at the outset.

Please note: Valid from 31st March 2020 and subject to change.

Get in Touch

If you require more information on residential mortgages, investment/BTL mortgages, commercial mortgages, life assurance, mortgage protection, investments, pensions or permanent health insurance please do not hesitate to get in touch with our friendly team on 01 830 5432 or email info@mccarney.ie.