Repayment Mortgage and Protection Template

Modified on Wed, 8 Apr, 2020 at 2:00 AM

ATEB Template

Start with the ATEB template named ‘Repayment Mortgage and Protection Template’. You will find this in the ‘Sample Templates’ tab on the ‘Templates’ page. The template has been pre-populated with basic information that is not client specific (see table below).

Firm Specific Template

Create your own version of the template using the ‘Duplicate Template’ button. Give it a meaningful name. Modify the template to make it firm specific, for example by adding company and/or adviser details. Consider the comments in the table below under the column ‘to be considered’ when modifying or creating templates based on the ATEB version.

Test Template

You may not get the template right first time; therefore, once the template is created, use it to generate a client specific test report. Based on the generated report, you may need to amend the template further. Repeat this testing process until you have a template which enables full client specific personalisation but contains common standard content. The time spent here will save hours going forward.

Important Notes

Prior to use, your template should be checked by your compliance department or compliance consultant.
This template is provided only as a guide. ATEB IT Solutions Ltd does not accept legal or regulatory responsibility for the contents of the template.

ATEB suitability Section	ATEB template defaults	To be considered
Getting Started
Report Details	Defaulted to individual client / joint basis
	Report Title: Mortgage and Protection Advice
	Advice Area: ‘Mortgage Advice’ and ‘Protection Advice’
	Covering Letter: defaulted to ‘No’	Amend as required
	Remainder of section blank to allow for case-by-case personalisation	Consider whether more fields can be added to the template
Introduction to Advice	Sections included: Background to our Meeting Agreed Objectives and Priorities	Amend as necessary
Background to Our Meeting	Assumed that client contacted the office for advice	Amend this entry as necessary
	Assumed client is not elderly or vulnerable
	Assumed that disclosure documentation will be included with the report or has previously been issued	Do not pre-populate and enter on a case by case basis
	No disclosure documentation pre-ticked	As above
Agreed objectives and priorities	Focussed advice assumed	Amend as necessary
	Objective used: ‘Obtain a Mortgage’ and ‘Protect against the financial consequences of death’	Amend as necessary
	Personalised reason (why this objective is important to you) left blank	To be completed case-by-case
Mortgage Advice
Foreword to Advice	Blank to allow for case-by-case personalisation	Consider whether any default text is appropriate
Financial Experience and Knowledge	Blank	To be completed case-by-case
Mortgage Preferences	Blank	To be completed case-by-case
Recommended Plan
Plan Builder	New purchase assumed	Amend as necessary
	Lender: Blank	Amend as necessary
	Mortgage parties - 2 individual client(s) boxes ticked	Amend as necessary
	Repayment mortgage assumed. Remainder of mortgage questions left blank to allow for case by case personalisation.	Amend as necessary
	Cautious attitude to risk assumed	Amend as necessary
	Fixed interest rate type assumed. Remaining questions left blank	Amend as necessary
	Initial rate term pre-ticked. Initial term set as Months.	Amend as necessary
	Remaining section left blank to allow for case by case personalisation
Recommendation Reasons	This section left blank to allow for case-by-case personalisation	Consider if further standardisation required for the template
Recommendations Reasons (cont.)	Blank to allow for case-by-case personalisation	Consider if further standardisation required for the template
Potential Disadvantages	Blank to allow for case-by-case personalisation	Consider if further standardisation required for the template
Protection Advice
	Assumes New policy recommendation only
Foreword to Advice	Blank to allow for case-by-case personalisation	Consider whether any default text is appropriate
Financial Experience and Knowledge	Blank	To be completed case-by-case
Recommended Plan
Plan Details	Term Assurance, Mortgage Protection, and protection against death selected	Amend as necessary
	Plan owners - 2 individual client(s) boxes ticked
	Joint life first event selected
	Life/lives assured - 2 individual client(s) boxes ticked
	Initial benefit will reduce, text selected
	Standard ATEB text selected	Amend as necessary or personalise reasons
	Reasons for not selecting Critical illness cover left blank.	Amend as necessary or personalise reasons
	30 day cancellation period selected
Plan Features	Plan term left blank, ATEB suggested default text selected	Amend as necessary
	Guaranteed premium selected, ATEB suggested default text selected	Amend as necessary
	Assumed not Convertible, Renewable or Index linked plan	Amend as necessary
	Standard ATEB text selected	Amend as necessary
	Assumed waiver of premium not included and ATEB default text selected	Amend as necessary
	No Additional Benefits included	Amend as necessary
Recommendation Reasons	Assumed reasons for product recommendation; this plan offers affordable protection and under mortgage; clients like peace of mind that mortgage will be repaid in the event of untimely death. Remainder of product recommendation questions left blank to allow for case by case personalisation.	Amend as necessary or set up and select a suitable paragraph or personalise reasons
Potential Disadvantages	Assumed potential disadvantages; policy will lapse if premiums not paid and at end of term policy will cease. Remainder of potential disadvantages left blank to allow for case by case personalisation.	Amend as necessary or set up and select a suitable paragraph or personalise reasons
Planning Ahead	Sections included: Wills	You may want to include further sections as standard.
Wills	Assumes no will - ATEB suggested default text selected	Amend as necessary or set up and select a suitable paragraph or personalise text
Important Information	Sections included: Cost of Our Services Changes in Your Circumstances	You may want to include further sections as standard.
Cost of Our Services	Default set to ‘Mortgage Fees’ and ‘Protection Commission	Set any default charges applicable across the firm
Changes to Your Circumstances	Default text selected	Consider whether this meets your needs or whether amended text or a suitable standard paragraph is required
Appendices	Assumes ATEB Glossary of Terms to be included within the report
	Consider whether any customised appendices should be included as standard
Glossary	Default options selected	Amend as necessary
Risk Warnings	Default options selected	Amend as necessary