Terms of Business

Terms of Business – Effective from July 2023


New Star Financial Management Ltd

These Terms of Business set out the general terms under which our firm will provide  business services to you and the respective duties and responsibilities of both the firm and  you in relation to such services. Please ensure that you read these terms thoroughly and if  you have any queries, we will be happy to clarify them. If any material changes are made to  these terms, we will notify you.

Authorisation with the Central Bank of Ireland

New Star Financial Management Ltd is regulated by the Central Bank of Ireland as an  insurance intermediary registered under the European Communities (Insurance Mediation)  Regulations, 2005 as amended; as an Investment Intermediary authorised to provide the  investment instruments insurance policies, tracker bonds and Collective Investments under  the Investment Intermediaries Act, 1995 as amended. New Star Financial Management Ltd  is also authorised as a Mortgage Credit Intermediary established and maintained by the  Central Bank of Ireland pursuant to the European Union (Consumer Mortgage Credit  Agreements) Regulations 2016.  

Copies of our regulatory authorisations are available on request. The Central Bank of Ireland  holds registers of regulated firms. You may contact the Central Bank of Ireland on 1890 777  777 or alternatively visit their website a www.centralbank.ie to verify our credentials.

Codes of Conduct

New Star Financial Management Ltd is subject to the Consumer Protection Code 2012,  Minimum Competency Code 2011, Handbook of Prudential Requirements for Investment  Intermediaries 2014 and Fitness & Probity Standards 2011 which offer protection to  consumers. These Codes can be found on the Central Bank’s website www.centralbank.ie

Our Services

New Star Financial Management Ltd is a member of Brokers Ireland (B.I.). As a member of  Brokers Ireland we must be in a position to place insurance with at least five insurers of the  relevant form (life/non-life) and therefore can generally give consumers greater choice than  agents and tied agents.  

Our principal business is to provide advice and arrange transactions on behalf of clients in  relation to mortgage/life & protection products as well as Savings, Investments and general  insurance products. A full list of insurers, product producers and lending agencies which we  deal is available on request as well as on our website.  

New Star Financial Management Ltd. provides Market Based Advice which means that:  

  1. a) the principal regulated activities of the firm are provided on the basis of a fair analysis of the market; and 
  2. b) you have the option to pay in full for our services by means of a fee. 

Taking due account of the size, nature and scale of our activities when providing the  Investment advice and Insurance based Investment advice we will not consider the adverse  impacts of investment decisions on sustainability factors. We will review this opinion annually.

Fair Analysis

The concept of fair analysis is derived from the Insurance Mediation Directive. It describes  the extent of the choice of products and providers offered by an intermediary within  a particular category of life assurance, mortgages, general insurance and/ or a specialist  area. The number of contracts and providers considered must be sufficiently large to  enable an intermediary to recommend a product that would be adequate to meet a client’s  needs.  

The number of providers that constitutes ‘sufficiently large’ will vary depending on  the number of providers operating in the market for a particular product or service and  their relative importance in and share of that market. The extent of fair analysis must be  such that could be reasonably expected of a professional conducting business, taking  into account the accessibility of information and product placement to intermediaries  and the cost of the search.  

In order to ensure that the number of contracts and providers is sufficiently  large to constitute a fair analysis of the market, we will consider the following criteria: 

  • the needs of the customer, 
  • the size of the customer order, 
  • the number of providers in the market that deal with brokers, 
  • the market share of each of those providers, 
  • the number of relevant products available from each provider, 
  • the availability of information about the products, 
  • the quality of the product and service provided by the provider, 
  • cost, and 
  • any other relevant consideration.


Through the lenders or other undertakings with which we hold an agency, New Star  Financial Management Ltd. can provide advice on and arrange mortgage products from the  following range: fixed-rate loans, variable rate mortgages, capital & interest mortgages,  interest only mortgages and residential investment mortgages.  

New Star Financial Management Ltd. provides mortgage advice on a fair analysis basis  (providing services on the basis of a sufficiently large number of contracts and product  producers available on the market to enable the firm to make a recommendation, in  accordance with professional criteria, regarding which contract would be adequate to meet  your needs).  

We will need to collect sufficient information from you before we can offer any advice on  housing loans. 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.  

New Star Financial Management charge a fee for this service. 

Switcher mortgage applications will not incur any fees payable to New Star Financial Management.

For an initial mortgage pre-enquiry which allows us to check with all available lenders  a one-off fee of €150 (NO VAT) will be charged. Internet transfer is also available. All  cheques/drafts should be made payable to New Star Financial Management Ltd.  

Acceptable payment methods are cash, bank draft or internet transfer.  

For a full Mortgage Application submission we charge a fee of  €350 (NO VAT) for non-city locations and the Rest of Rural Ireland.  

A fee of €500 (NO VAT) is charged for Dublin City/ Cork City /Galway City or  immediate surrounding city areas.  

A fee of €500 (NO VAT) is charged for ‘NON-RESIDENT’ mortgage applications. This  fee permits the customer to do a full formal application on two separate  occasions (if required).  

We may receive commission based on 1% of your mortgage amount for arranging mortgage  finance with the following lenders, HAVEN, DILOSK T/A ICS, FINANCE IRELAND, BOI,  BROKERS IRELAND and AVANT MONEY. This commission is paid by the mortgage  lender or Brokers Ireland and does not alter the fees payable above.  

All cheques/drafts should be made payable to New Star Financial Management Ltd. We do  not charge VAT on our fees. We do not yet offer payment by way of Debit or Credit Card.  

The above fees are non-negotiable and non-refundable, except at the absolute discretion of  New Star F.M. Ltd. 

Disclosure of Information

Any failure to disclose material information may invalidate your claim and render  your policy void.  

If we receive commission from a product provider, this will be retained by us in the event  of a mortgage application. 

Regular Reviews

It is in your best interests that you review, on a regular basis, the products which we have  arranged for you. As your circumstances change, your needs will change. You must advise us  of those changes and request a review of the relevant policy so that we can ensure that you  are provided with up to date advice and products best suited to your needs. Failure to  contact us in relation to changes in your circumstances or failure to request a review, may  result in you having insufficient insurance cover and/or inappropriate investments.

Conflicts of interest

It is the policy of our firm to avoid conflicts of interest in providing services to you. However,  where an unavoidable conflict of interest arises we will advise you of this in writing before  providing you with any service. 

Default on payments by clients

Our firm will exercise its legal rights to receive payments due to it from clients (fees and  insurance premiums) for services provided. In particular, without limitation of the generality  of the foregoing, the firm will seek reimbursement for all payments made to insurers on  behalf of clients where the firm has acted in good faith in renewing a policy of insurance for  the client.  

Product producers may withdraw benefits or cover in the event of default on payments due  under policies of insurance or other products arranged for you. We would refer you to  policy documents or product terms for the details of such provisions.  

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.


We ask that you make any complaint against our firm, relating to services provided by us, in  writing. We will acknowledge your complaint within 5 business days and we will  fully investigate it. On completion of our investigation, we will provide you with a written  report of the outcome. In the event that you are still dissatisfied with our handling of or  response to your complaint, you are entitled to refer the matter to the Financial  Services Ombudsman. A full copy of our complaints procedure is available on request.

Data Protection

New Star Financial Management Ltd complies with the requirements of the General Data  Protection Regulation 2018 and the Irish Data Protection Act 2018. The data which you  provide to us will be held on a computer database and paper files for the purpose of  arranging transactions on your behalf. The data will be processed only in ways compatible  with the purposes for which it was given and as outlined in our Privacy Notice which is given  to all clients at the time of data collection, our privacy notice is also available on our  website. You have the right at any time to request a copy of any ‘personal data’ within the  meaning of the GDPR that our office holds about you and to have any inaccuracies in that  information corrected. Please contact us at info@newstarfm.ie if you have any concerns  about your personal data  

We would also like to keep you informed of mortgage, insurance, investment and any other  services provided by us or associated companies with which we have a formal business  arrangement; which we think may be of interest to you. We would like to contact you by  way of letter, email or telephone call. If you wish to receive such marketing information  please tick the box in the Terms of Business acknowledgement letter.  

We may receive referrals from such firms and may advise them of any transactions arranged  for you.

Compensation Scheme

We are members of the Investor Compensation Scheme operated by the Investor  Compensation Company Ltd. See below for details. 

Investor Compensation Scheme

The Investor Compensation Act, 1998 provides for the establishment of a compensation  scheme and the payment, in certain circumstances, of compensation to certain clients  (known as eligible investors) of authorised investment firms, as defined in that Act.  The Investor Compensation Company Ltd. (ICCL) was established under the 1998 Act to  operate such a compensation scheme and our firm is a member of this scheme.  Compensation may be payable where money or investment instruments owed or belonging  to clients and held, administered or managed by the firm cannot be returned to those  clients for the time being and where there is no reasonably foreseeable opportunity of the  firm being able to do so.  

A right to compensation will arise only:  

  • If the client is an eligible investor as defined in the Act; and 
  • If it transpires that the firm is not in a position to return client money or investment instruments owned or belonging to the clients of the firm; and 
  • To the extent that the client’s loss is recognised for the purposes of the Act. 

Where an entitlement to compensation is established, the compensation payable will be the  lesser of: 

  • 90% of the amount of the client’s loss which is recognised for the purposes of the Investor Compensation Act, 1998; or 
  • Compensation of up to €20,000. 

For further information, contact the Investor Compensation Company Ltd. at (01) 224 4955. 

Sustainability Factors – Investment/IBIPS/Pension Advice

When providing advice, New Star Financial Management Ltd considers the adverse impact of  investment decisions on sustainability. As part of our research and assessment of products,  our firm will examine the Product Providers literature to compare financial products and to  make informed investment decisions about ESG products. Our firm will at all times act in the  client’s best interests and keep clients informed accordingly. The consideration of  sustainability risks can impact on the returns of financial products.

Client acknowledgement

Terms of Business

I acknowledge that I have been provided with a copy of the Terms of Business of New Star  Financial Management Ltd and confirm that I have read and understood them. 

Direct Marketing

I confirm having read the paragraphs in relation to Data Protection in the Terms of Business  and above, and consent to New Star Financial Management Ltd making contact with me by  letter, phone, email, or SMS text in relation to the range of services provided by New Star  Financial Management Ltd or its associated or partnership companies and to the sharing of  relevant information as indicated. 

If you wish to avail of these services, please tick here        □

Client Signature:  _______________________________

Date:  _____________________________

Client Signature:  _______________________________

Date:  _____________________________

Financial Advisor Signature:  _________________________________

Date:  ______________________________


New Star Financial Management Limited
2nd Floor
Blackhall Street
Co. Westmeath, N91 V32W

Tel – 044 933 5443
Fax – 044 933 5443
Website – www.newstarfm.ie