Advocate Finance Ltd Terms of Business
Thank you for using our services to arrange your funding requirement. As full members of the National Association of Commercial Finance Brokers (NACFB), our aim is to operate a clear and transparent terms of business agreement.
We offer all of our clients the opportunity to review their requirements with a FREE assessment, if you the client are satisfied to proceed with an application, we ask all of our clients to agree to our terms of business.
Terms of Business Agreement
I/We appoint Advocate Finance Ltd to secure from a reputable lending source the issue of a formal offer of funding.
I/We consent to the following charges:
– Application fee payable upfront for assessing the case. Fee chargeable £TBA
– Application fee payable once the offer of funding/mortgage offer has been issued by the lender. Fee chargeable for this and every subsequent mortgage application £TBA
– A success/broker fee which is based upon a percentage of the funding in the offer. This is payable when the transaction has completed and funds have been sent to the solicitor acting for you.
Fee chargeable TBA %
I/We consent that if Advocate Finance Ltd are unable to obtain an offer of funding/ mortgage offer due to the following reasons, that are outside of the control of Advocate Finance, then the application fee would still be payable in full
1) False, incorrect and misleading information supplied by the applicant(s).
2) The valuation report down values the property or reports that the property is not suitable as security for the lender.
3) The applicants discontinue with the application once it has been submitted to the lender.
The lender may pay us an introductory commission in respect of the funding agreed in the Lender’s Offer. The Client acknowledges this and consents to the Broker receiving and retaining any commission paid.
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