Introduction
Astmoor Finance Ltd is authorised and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. We are therefore required to have in place clear and effective procedures for the reasonable and prompt handling of complaints.
Each of our clients and partners are important to us and we believe they have the right to a professional, fair, considerate, and swift service at all times. This document sets out the complaints handling procedures that we will follow in the event that we receive a complaint.
References to written communication will primarily take the form of email communication where an email address for a complainant is known.
What Constitutes a Complaint
We follow the FCA Handbook’s definition of a complaint as ‘any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service’.
A complaint must involve an allegation that the complainant has suffered, or may suffer, financial loss, material distress or material inconvenience. A complaint to Astmoor Finance Ltd must also relate to an activity of Astmoor Finance Ltd, or of any other respondent with whom Astmoor Finance Ltd has some connection in marketing or providing financial services or products or claims management services, which comes under the jurisdiction of the Financial Ombudsman Service (FOS).
Who is Eligible to Make a Complaint
This Complaints Handling Procedure applies to all clients, partners, and other stakeholders with regards to how we will respond to complaints that fall within the FCA Handbooks definition. The FCA has an additional definition of an eligible complainant as per the FCA’s Dispute Resolution Complaints: Sourcebook (“DISP”) 2.7:
An eligible complainant must be a person that is:
- a consumer; or
- a micro-enterprise;
(a) in relation to a complaint relating wholly or partly to payment services, either at the time of the conclusion of the payment service contract or at the time the complainant refers the complaint to the respondent; or
(b) otherwise, at the time the complainant refers the complaint to the respondent; or - a charity which has an annual income of less than £6.5 million at the time the complainant refers the complaint to the respondent; or
- a trustee of a trust which has a net asset value of less than £5 million at the time the complainant refers the complaint to the respondent; or
- (in relation to CBTL business) a CBTL consumer; or
- a small business at the time the complainant refers the complaint to the respondent; or
- a guarantor.
Even if the complainant is not defined as an eligible complainant by the FCA, we will treat their complaint as if they are. Complainants who do not satisfy the FCA’s definition, however, may not be able to refer their complaints to the FOS if they are not satisfied with the way we have handled their complaint.
How a Complaint can be Made
A complaint can be made by any reasonable means, such as by telephone, email, letter, or in person. Written complaints can be posted to Astmoor Finance Ltd, Field Barn, Plum Park Estate, Paulerspury, Northants, NN12 6LQ for attention of the Compliance Manager.
If a complaint is made by a complainant who does not identify themselves, or provides no contact information, such as calling from a withheld telephone number and not provided contact information on a call, or a letter received with no clear sign off or return address, we will use all reasonable measures to identify the complainant to respond.
Where we cannot identify the complainant adequately to respond to the complaint, we cannot follow our procedures and cannot consider the complaint eligible.
Where a complainant makes a complaint and requests for no further contact to be made, the Compliance Manager may still send a Summary Resolution or Final Response in accordance with this Procedure to ensure the complainant’s grievance is addressed appropriately and that they are provided with details for the FOS if they wish to refer their complaint.
Complaints Handling Time Limits
Astmoor Finance Ltd must send written acknowledgement of a complaint to the complainant within 5 business days of its receipt. If we provide a Summary Resolution within 3 business days, we may combine acknowledgement of the complaint within this response. If we provide a Final Response within 5 business days, we may combine acknowledgement of the complaint within this response.
Astmoor Finance Ltd must send a Final or Holding Response within 4 weeks of receiving a complaint.
Astmoor Finance Ltd must send a Final Response within 8 weeks or receiving a complaint. If a Final Response cannot be provided within 8 weeks, a formal response must still be provided explaining why we are still not in a position to make a Final Response, provide reasons for the further delay, inform the complainant of when it expects to be able to provide a Final Response, and informs the complainant that they may refer the complaint to the FOS if they are dissatisfied with the delay, along with the FOS’s explanatory leaflet.
Complaints Handling Process
Complaints will be referred to our Compliance Manager. In the event that the Compliance Manager is involved in the subject matter of the complaint then the complaint will be referred to another Director of Astmoor Finance Ltd and they will take the role of the Compliance Manager in following the Process.
A Final Response must be provided to a complainant by the end of 8 weeks after receipt of the complaint.
Stage One – Receive and Acknowledge
The complaint must be logged in the Complaints Log and the individual who received the complaint is responsible for logging the complaint in the first instance and notifying the Compliance Manager.
A respondent will provide the complainant with written acknowledgement of the complaint by the end of the following business day of the date the complaint was received. Written acknowledgement will primarily take the form of email communication where feasible.
This acknowledgement will provide the complainant with reassurance that their complaint has been received, a reasonable expectation of when they will receive a response, and the name of the person dealing with their complaint.
Stage Two – Investigate
The Compliance Manager and/or other employee of sufficient competence who, where appropriate, was not directly involved in the matter which is the subject of the complaint, will investigate the relevant matters of the complaint.
The complaint will be reviewed fairly, consistently, and promptly to determine whether the complaint should be upheld.
We may look to speak with the complainant and/or other external parties to ensure key relevant facts are identified and clarified.
Stage Three – Complaint Resolution
Following investigation and review, the Compliance Manager will determine whether the complaint should be upheld and whether remedial action and/or redress is appropriate. Any proposed resolution must meet company guidelines and ensure it does not prejudice Astmoor Finance Ltd in any unnecessary legal or financial manner.
Where redress is applicable, we will aim to provide the complainant with fair compensation for any acts or omissions for which we are responsible. If the complainant accepts our offer, we will promptly provide the compensation to the complainant.
Stage Four – Communicate to Complainant
Whether we communicate to the complainant by way of Summary Resolution, Final Response, or Holding Response, we must provide the FOS’s website address and contact information, as well as explaining that more information is available on the FOS’s website.
Additionally, the following text must be added to acknowledge the relevant DISP time limits with the relevant text in bold:
“You have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of this letter.
If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances.”
Communication will be provided by way of email with a PDF attachment providing the response letter except where no email address has been provided in which case a letter will be posted to the complainant where postal address details have been provided.
Summary Resolution (3 Business Day Resolution)
Where we are able to resolve a complaint within 3 business days of receiving it, we can send a Summary Resolution which must:
- Summarise the complaint
- State that we think the complaint has now been resolved
- Inform the complainant they can refer their complaint to the FOS if they’re not satisfied with the outcome
- Provide the DISP time limit text
- Provide the FOS’s website address and information
Final Response (Within 4 Weeks or Within 8 Weeks following a Holding Response)
Where we cannot resolve a complaint with 3 business days of receiving it, we need to send a full written resolution response which must:
- Summarise the complaint
- Be open in acknowledging any mistakes made
- Addresses the complaint by way of either:
(a) accepting the complaint and, where appropriate, offering redress or remedial action;
(b) offering redress or remedial action without accepting the complaint; or
(c) rejecting the complaint and providing reasons for doing so - Where we wish to offer redress to settle, we will detail how we decided upon that offer where appropriate
- Inform the complainant that they have the right to complaint to the FOS within six months of the final response and provides the DISP time limit text
- Provides the FOS’s website address and information
- Provides a copy of/link to the FOS’s leaflet: https://www.financial- ombudsman.org.uk/businesses/resolving-complaint/ordering-leaflet/leaflet
Where a complainant confirms that they are satisfied with our remedial actions but a Final Response has not yet been sent, this full written response must still be sent.
Holding Response (Within 4 Weeks where a Final Response cannot yet be provided)
Where we cannot resolve a complaint with 4 weeks of receiving it, we need to send a Holding Response which must:
- Explain why we are not yet in a position to resolve the complaint
- Indicate when we will make further contact within the eight weeks of receipt of the complaint
Closing Complaints
We will consider a complainant’s complaint closed when we have sent a Summary Resolution or Final Response, or where a complainant informs us that they accept an earlier response that we have sent. Where a complainant has referred their complaint to the FOS, we will then consider the complaint closed after the FOS informs us that they consider the complaint closed.
We are committed to ensuring that complaints are handled fairly, consistently, and promptly. We will identify the cause of any grievances to review and improve our level of service to all of our stakeholders.
