Terms and Conditions of dealing with Funding Hut
This document sets out the basis on which we will provide the services to you, and your obligations to us. When you apply for a mortgage / loan via us then these terms will apply and it is important that you read them carefully. If you proceed with an application then you agree that you will be bound by the terms and conditions listed below.
Services offered
We carry on the business of finance broker and insurance broker and we will assist you with your application for a mortgage / loan by seeking offers of finance on your behalf. We offer advice with regard to FCA regulated products only. We do not offer any advice to you on the legal or financial implications of entering into other credit arrangements or particular finance products and you must carry out your own due diligence and seek your own advice.
Use of Your information
When you submit an application to us you are providing personal information to us so that we can provide brokering services. You authorise us to release your personal information to the lenders that we deal with as without that information they will not be able to consider your application for finance. We may also be required to provide that information to third parties to ensure our compliance with legislation and regulation..
To help make credit decisions about you and to prevent fraud the Lender may search the files of credit reference and fraud prevention agencies. Any search that is made will be recorded on your records and may be used by other credit grantors for making credit decisions about you, your associates, for fraud prevention, money laundering prevention and for tracing debtors.
Contact Permission – Opt in/Opt Out
We may also use your information to provide you with offers or information of other goods or services that we provide, mainly by email or phone, unless you tell us not to use your personal information for this purpose. We will always treat your personal details with utmost care & will never sell or provide your information to any marketing companies. By providing us your details you will be opting in our future marketing emails or phone calls. Should you wish to “opt-out” of receiving communications from us at any time please let us know by sending an email to enquiries@fundinghut.co.uk.
Fees and commission
The arrangement of the mortgage / loan may incur fees and you will be advised of our fees in advance of completing the mortgage/ loan documentation. We may also receive an additional commission from the Lender for arranging the mortgage / loan and you acknowledge and agree that the commission payment will be retained by us. We may receive commission from lenders which may be either a set fee or a percentage and you have the ability to influence the commission paid which may affect the cost of lending to you.
Warranties by you
When you submit an application to us or provide any information to us you warrant and undertake to us that the information provided is true and accurate in all material respects.
It is a requirement for us to obtain valid identification documents, bank statements, proof of address and any other relevant document required as part of your application. If it is a business application, you confirm that your business is registered with Companies House or you are a sole trader/partner; the business has a valid UK bank account to facilitate payments; the business has been actively trading and has filed up-to-date accounts (if applicable) with Companies House.
You know of no reason why applicant(s), whether individual or Company, will not make the repayments in accordance with the terms of the Mortgage / Loan Agreement.
In completing and submitting a Loan Application on your behalf we confirm that you have been given express authority to undertake all acts pertaining to the submission and fulfilment of a Mortgage / Loan Application and Mortgage / Loan Request. Including without limitation:
1. Authority to set up a loan account for the borrower
2. Authority to accept any loan request offer made following the loan application
3. Authority to agree to the deduction of the completion fee from the loan amount
Completion of Mortgage / Loan Documentation
If your application for finance is successful, we will notify you of the terms and if you wish to proceed we will send you the Loan Agreement and any other associated documents for signature. Once we are in receipt of the signed Loan Agreement then we will treat that as your irrevocable authority to accept the terms of the loan on your behalf. Once we have communicated acceptance to the Lender then the Loan Agreement at that stage cannot be cancelled by you, although the Lender is not obliged to provide the finance until it has executed the Agreement.
Indemnity
You agree to indemnify and keep us indemnified on demand and on a full indemnity basis against all and any claims, costs, expenses, fees, charges, losses, proceedings, demands,liabilities incurred or suffered by us in connection with or arising at any time out of your application and the loan agreement.
Complaints
If you wish to register a complaint, please contact us:
… in writing Write to St Mary’s House, 40 London Road, Newbury RG14 1LA
… by phone Telephone 0203 900 0970
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
Address: Financial Ombudsman Service, Exchange Tower, London, E14 9SR. Contact: 0800023456 or 0300 1239123. Website: www.financial-ombudsman.org.uk.
Please refer to Privacy Policy document and IDD (Initial Disclosure Document) in conjunction with this Terms of Business. Privacy Notice has been issued separately and include the lawful basis for processing data.