Treating Customers Fairly (TCF)

One of the major requirements of The Financial Services Authority, who regulate our activities with regard to mortgages and associated products, is that we must ensure that we treat all our customers fairly in everything that we do, both for them, and with them. This goes far beyond a pleasant smile or providing what appears to our customers to be a ‘good’ service, because at all times we are required to be able to demonstrate that we have acted in the best interests of our customers. On occasions, for example, we may feel obliged to tell customers what they did not expect to hear, or undertake work which might on times be unrewarding to us, but still part of our overall policy of treating all who seek our services equally and fairly.

All of us at Inter City Finance Limited are committed to ensuring that the FSA principle of treating customers fairly (TCF) is applied in all areas of our day to day business activities and becomes ‘second nature’ to our business practices.

With this in mind, we will aim to:

* Protect the interests of our customers at each stage of the work we undertake, from promotion right through to after sales service.

* Meet as best we can the specific needs of each customer by offering a clear, efficient and professional service, and constantly review our service to identify areas for improvement.

In practical terms for the different areas of our business this means: 

* Ensuring that any promotional material we use is clear, correct, jargon free and only provided to those we feel will benefit from it.

* Ensuring that our advisors and sales support staff, have thorough training on all products they advise on or sell, understand who they are and aren’t suitable for, and are encouraged to challenge product providers where they spot inconsistencies, ambiguities or potential unfairness in the product literature or product features.

* Operating sales remuneration systems which assure fairness to the customer as well as customer satisfaction, rather than only rewarding sales volumes.

* Finding ways to encourage non sales staff to implement TCF in their day to day business activities.

* Keeping detailed records of customer instructions and profile/attitude to risk, and of the advice and options given before, during and after a sale – to help ensure we treat customers fairly.

* Keeping in touch with clients for whom we have transacted business where appropriate to correct or improve on the service already provided.

* Ensuring that any customer complaints are assessed fairly, promptly and impartially, and in line with FSA deadlines and rules.

* Ensuring that staff are kept up to date with relevant training in relation to competence, data protection and other matters directly affecting the quality of service offered to customers.

* Regularly monitoring and reporting on all of the above TCF activities as part of the company’s monthly statistics/management information, in order to assess TCF performance across the business and recommend changes where appropriate.

* Ensuring that TCF values, which are set and communicated by Senior Management, are supported by all staff and understood in the same way.