TERMS OF BUSINESS
for buy to let and commercial mortgages
ABOUT Our TERMS OF BUSINESS
This page sets out how we will deal with you for the provision of Business Buy to Let and Commercial Mortgage advice. These types of mortgage are not regulated by the Financial Conduct Authority (FCA). This Terms of Business does not cover regulated products sold by Eddge.
This page should be issued and explained to you before your adviser gives you any advice or personalised information. These terms come into force when received by you as a customer and supersede any previous version of these terms issued to you. This is an important page that you should read and retain for future reference and should be read in conjunction with other important documents issued to you as part of receiving advice and services from us. It should be read before committing to a mortgage application. If you do not understand any point, please ask your consultant for further information.
OUR services
Eddge provides an advisory service which means that we will fully review your circumstances and recommend a suitable mortgage product based on those circumstances and your objectives. We will record this and all other relevant information on a fact find document which we will ask you to confirm prior to submitting any business on your behalf.
We offer a comprehensive range of mortgages from across the market, but not deals you can only obtain by going directly to a lender. We offer bridging, development and commercial finance from a carefully selected panel of lenders. We can provide you with a list of these on request.
To help you understand any recommendation, we will provide you with a mortgage illustration, where available, prior to proceeding with a mortgage application. If we are unable to provide you with a formal illustration, we will set out the terms in writing, indicative or otherwise. If this is the case, you must fully review your mortgage offer document before completion.
We offer products for General Insurance – Buildings and Contents via Legal & General. If your property falls outside Legal and General’s Buildings and Contents criteria we can refer you to our preferred insurance broker partner, Nest General Insurance Solutions. We will not provide advice for your General Insurance needs, we may ask some questions to narrow down the selection of product that we will provide details on. You will then need to make your own choice about how to proceed. If you would like advice regarding your insurance needs, we can refer you to Nest General Insurance Solutions. We can offer products for building and contents insurance from a panel of insurers that are representative of the whole of the market. Ask us for a list of insurers we offer insurance from. We will advise and make a recommendation for you after we have assessed your needs for building and contents insurance.
OUR FEES
Fees for non-regulated mortgages can vary according to your requirements and circumstances. The charges that apply to you will be explained and confirmed prior to arranging any business on your behalf. Please contact us directly if you require more information.
DISTANCE MARKETING DIRECTIVE
Where a mortgage is arranged on a non-face to face basis – e.g. from a distance - you have the right to cancel any fee agreement within 14 days of its completion by sending – by registered post – a written notice stating that you wish to cancel it. The fee agreement provides your consent to process your mortgage application during this period. If the agreement is not cancelled during this period, you will thereafter be bound by its terms.
DELAYED COMPLETION
If you’re purchasing a property where the completion date is expected to occur six months or more after the exchange of contracts, we’ll take the remainder of our client fee after the exchange of contracts provided that we’re able to obtain a mortgage offer for you. The agreement to take a fee on exchange will be set out in your fee agreement.
COMMISSION
We may receive commission from the lender for introducing you to them; any commissions will be retained by us. We’ll disclose any commission amounts at the earliest opportunity and typically this will be stated in the mortgage illustration and or mortgage offer document.
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If you take out a general insurance policy with Legal & General or via our broker partner Bond Lovis Solutions, we’ll receive commission from the insurer; this will be a percentage of the premium that you pay to the insurer.
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ANTI-MONEY LAUNDERING VERIFICATION
We’re required by UK law to verify your identity and your current address. We’ll complete this by obtaining suitable documents from you and copying these for our records. During the initial stages of our advisory process we’ll provide you with a list of suitable documents. We cannot process a mortgage application until we have verified both your identity and address.
PROTECTING YOUR DATA
At eddge, we’re strongly committed to protecting your personal data. We ensure that your privacy is always respected and your personal data is treated with the utmost care. We adhere to the requirements set out in the GDPR (General Data Protection Regulation).
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We’ll gather personal data from you so that we may communicate with you to discuss your requirements and to make suitable lending recommendations. We’ll only gather personal data that’s required and relevant to the service and transaction that we’re undertaking. We’ll also ask for your consent before we gather any personal data.
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Once we’ve gathered your personal information, we’ll store and process it securely on our company systems. It may be necessary to share some of your information with other companies or lenders, but this will only be to fulfil the service or transaction that we’ve agreed to provide you with or to comply with our regulatory obligations.
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You have the right to see the personal data that we hold about you and the right to request its rectification and/or erasure. You also have the right to object to or restrict the way that it’s processed.
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We’ll ask you for your consent before we send you any marketing communications. If you give us your consent, you can change your mind at any time and opt out of receiving these communications.
Please read our privacy policy for more information on how we collect, use and protect your data. Simply ask us if you’d like a copy sent to you.
TELEPHONE MONITORING
Please note that telephone calls to eddge may be recorded for training and monitoring purposes.
COMPLAINTS PROCEDURE
Our aim is to provide you with a first class professional and confidential service. Should a complaint arise, in the first instance please contact our principal network John Charcol’s Complaint team by telephone on 0344 346 3672, by email at complaints@johncharcol.co.uk, or write to us at 4th Floor, 11 Leadenhall Street, London, EC3V 1LP. We will provide you a copy of our complaints procedure upon request.
who regulateS us?
Eddge Mortgages Ltd (920414) trading as Eddge is an appointed representative of John Charcol Limited which is authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 665649. The Registered office is: 4th Floor, 11 Leadenhall Street, London, EC3V 1LP. Registered in England No. 9157892.
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Our permitted business is advising on, arranging and making arrangements on regulated mortgage contracts and noninvestment insurance contracts.
You can check this on the Financial Services Register by visiting the FCA’s website, www.fca.org.uk/register or by contacting the FCA on 0300 500 8082.
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