Terms & Conditions
For the purposes of these Terms of Business, references to “I”, “We”, “Me”, “Us”, “My, “Our” and “You” shall be construed as a reference to the undersigned being the applicant or applicants (as the case may be) as stated in the application form attached hereto (the “Application”) and a reference to the “Lender” in these Terms of Business shall be construed as a reference to such legal person which advances a loan to You further to and in connection with the Application.
I/We agree and declare to each of Crystal Mortgages Limited, (a company registered in England and Wales with company number 04407643) (the “Company”), Crystal Property Finance Limited (a company incorporated and registered in England and Wales with company number 15559368) and Topaz Panel Management Limited a company incorporated and registered in England and Wales with company number 14161248) (together the Group Companies and each of the rights bestowed upon the Company and obligations owing to the Company shall also apply to the benefit of each Group Company) and the Lender and each of their respective assigns and successors in title that: Information:
1. the information, statements and particulars in the Application are true, complete and accurate to the best of My/Our knowledge and belief;
2. the Application contains no material omissions and may form part of any subsequent agreement made between Me/Us and the Lender;
3. such information as contained within the Application may be relied upon by the Company, the Lender and all third parties to whom the Company discloses the same as if the Lender and such third parties had received the information directly from Me/Us;
4. at all times during the process of the Application and prior to any monies being advanced by the Lender, I/We will notify the Lender of any changes to the information given by Me/Us in the Application or changes in My/Our circumstances which may affect a lender’s decision to lend to Me/Us;
5. I/We shall provide the Company, in such time frame as specified by the Company, with all and any information required by the Company to process the Application;
6. at all times during the process of the Application I/We will provide full disclosure to the Company and the Lender of all or any adverse credit information or any other matters which may affect the outcome of the Application and I/We shall fully co-operate with the Company during the Application process;
7. in the event that any information provided to the Company by Me/Us or such persons acting on My/Our behalf, or in connection with, the Application is misleading, incorrect, inaccurate or false, the Company may treat the Application as being immediately cancelled and withdrawn
8. I/We hereby confirm that I am/We are solely responsible for any information which is included in the Application and that such information has not been verified by the Company;
9. I/We understand and acknowledge that any information contained within the Application will be subject to the independent assessment of third parties; Credit Reference Agencies:
10. I/We understand and agree that when the Company, a lender or the Lender assesses the Application it will be necessary for the Company, a lender or the Lender to assess My/Our credit profile, which may include the use of credit scoring or such other automated decision making process when assessing Me/Us;
11. I/We acknowledge and agree that the Company, a lender or the Lender and/or their respective agents may make such enquiries relating to Me/Us as the Company, a lender or the Lender and/or their respective agents consider necessary for the purposes of the Application, including, but not limited to conducting searches of files held by credit reference agencies (a “Credit Search” or “Credit Searches”, as the case may be)
12. I/We understand that credit rating agencies will keep a record of each Credit Search made by the Company, a lender or the Lender and/or their respective agents in relation to the Application against Me/Us which may be used, for example, by other lenders in relation to future lending decisions and accordingly. I/We hereby consent to the Company, a lender or the Lender and/or their respective agents carrying out and/or obtaining Credit Searches against Me/Us;
13. in the case of an Application made in joint names, We each acknowledge and understand that a “financial association” (i.e. a financial link or connection) will be made with the other applicant(s) and such “financial association” will be recorded and shown on each of our credit reports and will be taken into account in all future applications made by either of Us until such time as such “financial association” is removed further to a notice of “disassociation” being filed at, and accepted by, the credit reference agencies; Data Protection:
14. I/We hereby consent to the Company (and for the avoidance of doubt, any Group Company) processing any personal data that I/We provide to the Company in the Application or in connection with the Application, in accordance with the Company’s obligations under the Data Protection Act 2018, and General Data Protection Regulation (GDPR) (as may be amended from time to time) for the purposes of: processing and submitting the Application to the Lender; complying with applicable laws and regulations (including, but not limited to the prevention of money laundering and fraud as referred to in clauses 19 and 20 below); the administration of the Company and Company’s records and providing Me/Us with marketing information about the Company and its products and services. The Company may rely on legitimate business interests as an additional lawful basis to process your personal data for certain marketing and analytics purposes to improve services offered. You retain the right to object to such processing at any time.
15. I/We understand that the information provided to the Company will be handled in line with the “Customer Privacy Notice” which forms part of this Application Form
16. I/We confirm that I/We have the consent of any third party whose information (whether personal or otherwise) I/We have or might disclose to the Company and/or the Relevant Parties (as defined in clause 18 below) to process such information (whether personal or otherwise) for the purposes of assessing the Application and administering and enforcing any subsequent loan which may be granted to Me/Us by the Lender;
17. I/We consent and agree that each of the Company and the Lender shall be entitled to hold, use, process and share, in and by any medium, the information given by me/us in the Application or connected to the Application and any other information, which either party may acquire for a minimum of 6 years after completion of the loan made to me/us arising from or connected to the Application for the purposes specified in the Customer Privacy Notice.
18. I/We consent to the Company sharing any information provided by Me/Us to the Company with such persons involved in the processing and submission of the Application, including service providers, mortgage intermediaries, banks, lenders, the Lender, solicitors, surveyors, mortgage brokers, insurance Providers, estate agents and each of their respective agents (the “Relevant Parties”);
19. I/We acknowledge and agree that before the Application is submitted and, if the Application is successful, before the Lender advances any monies to Me/Us, the Company and/or its agents will check My/Our details with fraud prevention agencies, the electoral register, Companies House or such other appropriate registry (if applicable) and obtain Credit Searches from credit ratings agencies for the purposes of verifying My/Our identity;
20. I/We hereby acknowledge that if I/We or such persons acting on My/Our behalf provide the Company with information that is found, at any stage, by the Company to be false, misleading, incorrect or inaccurate and, as a result, fraud is identified, details of the Company’s findings will be sent to fraud prevention agencies and/or law enforcement agencies without further notice to Me/Us;
21. I/We acknowledge and understand that I/We have the right to see certain records the Company holds about Me/Us if I/We apply in writing to the Company and pay, in cleared funds, any applicable fee;
22. I/We understand that, under the Consumer Duty Regulation, this Application does not create any obligation on the Company to provide ongoing monitoring. I/We acknowledge that the Company may, at its sole discretion, contact Me/Us from time to time in relation to this Application and any associated services in order to comply with regulatory requirements or for marketing that is directly related to this Application. Fees and Commission:
23. I/We understand that the Company acts as a credit broker and can introduce Me/Us to a panel of lenders and that whichever lender is chosen, The Company will receive a commission (either a fixed fee or a percentage of the amount I/We borrow), which may vary between lenders and or insurance providers.
24. I/We understand and agree that a Fee may be charged by the Company as stated on the quotation applicable to the transaction as supplied by the Company to Me/Us and excludes any fees which may be payable by Me/Us to the Lender on completion of a successful Application;
25. I/We irrevocably agree and accept that by signing these Terms of Business I/We expressly authorise My/ Our solicitor to deduct the Fee from the monies advanced to Me/Us by the Lender further to and in connection with the Application and to immediately pay the Commission to the Company;
26. I/We understand and agree that the lender, insurance provider, or associated referral partners may pay the Company a commission upon completion of the loan, implementation of a product, or sale of additional services (such as property insurance).
27. I/We understand and agree that the Company will pay up to 50% of the sum of the lender commission and any fee to My/Our Broker/Introducer following completion.
28. I/We hereby acknowledge that if I/We wish to withdraw or cancel the Application I/We must provide the Company with written notice of such withdrawal or cancellation;
29. I/We understand and agree that the Company does not and cannot guarantee that the Application will be successful and/or that the Lender will advance any sums to Me/Us further to or in connection with the Application;
30. I/We hereby unconditionally and irrevocably agree that the Company cannot and shall not be held liable in such circumstances where the Application is unsuccessful and/or a lender or the Lender fails to advance or loan any monies to Me/Us in relation to the Application or otherwise;
31. I/We understand that the Company shall use reasonable, but commercially prudent, endeavours to process and submit the Application;
32. I/We acknowledge that the Company will not knowingly become or be involved in compounding client problems or contract races as the result of vendor pressure;
33. I/We acknowledge and agree that by signing these Terms of Business below I/We agree that the Application and these Terms of Business shall be governed by English Law and that the courts of England and Wales shall have the exclusive jurisdiction to settle any dispute arising from or connected to the Application and these Terms and Conditions; Valuation Report:
34. I/We acknowledge and agree that the survey and valuation of the property and/or land to be offered as security by Me/Us in relation to any loan by the Lender arising from or connected to the Application (the “Valuation Report”) shall exclude all items other than bricks and mortar unless explicitly stated otherwise in writing by the Company;
35. I/We (without creating a relationship of principal and agent between Me/Us and the Company) irrevocably instruct the Company to act as sole intermediary for the valuers, including collecting the valuation fee on behalf of the lenders and instructing the report. A copy of the invoice for the valuation will be made out to the client from the Valuers. The valuation fee quoted on the illustration includes a non-refundable assessment fee and search costs.
36. I/We acknowledge and agree that the Valuation Report will remain the property of the Company or its assignees. I/We further acknowledge and agree that the Company shall not release a copy of the Valuation Report to the applicant unless a client copy is explicitly provided by the lender. The Valuation Report and any information or findings contained therein shall be treated as confidential and solely for internal use by the Company and the Lender for the purposes of assessing the application.
37. I/We hereby irrevocably agree that any fees associated with the Valuation Report are non-refundable once the Company has instructed the surveyor to produce the Valuation Report and I/We acknowledge that I/We shall remain responsible for such fees in the event that the Application is withdrawn or cancelled;
38. I/We hereby confirm that I/We understand that payment of any fees, expenses, costs, charges and the like related to or in connection with the Application or the Valuation does not in any way guarantee that a loan will be advanced to Me/Us further to and in connection with the Application;
39. I/We acknowledge and agree that in any and all cases where I am/We are purchasing a property and/or land and the vendor withdraws their offer to sell that particular property, any fees, costs and expenses arising from or connected to a new valuation or new survey (including, but not limited to, search fees) of any property and/or land will be the sole responsibility of Me/Us;
40. I/We hereby confirm that I/We have good title to all property and/or land offered to the Lender as security for any loan advanced by the Lender in connection with the Application and I/We hereby confirm that we shall forthwith disclose and declare all mortgages, charges, cautions or other encumbrances over such property and/or land to the Company and the Lender; Limitation of Liability:
41. I/We acknowledge and agree that the Company cannot and will not be held responsible or liable for the results of any Valuation Report, survey or down valuation of the property or land being offered as security, or the surveyor’s, a lender’s or the Lender’s opinions as to the suitability of the property as security to cover any requested loan in connection with the Application;
42. I/We understand that loan terms and interest rates are subject to change from time to time and the Company accepts no liability and shall not be liable for any of My/Our acts or omissions which result in the non-completion, withdrawal or cancellation of the Application;
43. I/We acknowledge and agree that the Company is not acting as an agent of the Lender, and any and all lending decisions will be solely at the discretion of the Lender for which the Company cannot accept any liability;
44. I/We hereby confirm that there is no relationship of principal and agent between Me/Us and the Company and I/We fully understand and acknowledge that the Company has not held itself out and is not holding itself out as My/Our agent;
45. I/We hereby acknowledge and agree that the Company does not warrant, expressly or impliedly, the accuracy or veracity of the information provided by Me/Us in the Application and that the Company shall not be liable for inaccurate or false information provided by Me/Us in the Application or otherwise;
46. I/We hereby unconditionally and irrevocably agree to indemnify and keep indemnified the Company from and against all and any losses, costs, claims, liabilities, damages, demands and expenses suffered or incurred by the Company and arising from My/Our acts or omissions relating to or connected with the Application and/ or Me/Us providing false, inaccurate, misleading or untrue information in the Application and/or to the Company and/or the Lender in connection with the Application;
THE APPLICATION AND THESE TERMS OF BUSINESS ARE, TOGETHER, A LEGALLY BINDING DOCUMENT WHICH MAY BE RELIED UPON BY THE COMPANY AND/OR THE LENDER PLEASE ENSURE YOU HAVE READ THESE TERMS OF BUSINESS CAREFULLY AND THAT YOU CAN GIVE THE DECLARATIONS AND STATEMENTS CONTAINED HEREIN BEFORE SIGNING.
▪ Applicants who are married or living together on a permanent basis must both complete the Application and sign these Terms of Business where required below.
▪ Where the applicant is a limited company, all directors of that company (up to a maximum of two directors) must sign these Terms and Conditions for and on behalf of that company.
▪ Where the applicant is a limited liability partnership (an “LLP”), two members of the LLP must sign these Terms and Conditions for and on behalf of that LLP.