1 Our Terms
1.1 These are the terms and conditions on which we supply services to you. 2.1 We are Global Asset Finance Limited a company registered in England and Wales. Our company registration number is 08576127 and our registered office is at Building 2, 30 Friern Park, London N12 9DA.
2.2 Global Asset Finance Limited is authorised and regulated by the Financial Conduct Authority and pursuant to which we are permitted to carry out credit broking activities. Our Financial Services Register Number is 698370. These details can be checked on the Financial Services Register by visiting the FCA’s website at www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.
2.3 You can contact us by telephoning our customer service team at 07721 565802 or by writing to us at firstname.lastname@example.org or
30 Friern Park
2.4 If we have to contact you we will do so by telephone or by writing to you at the email address or postal address you provided to us in your application.
2.5 “Writing” includes emails. When we use the words “writing” or “written” in these terms, this includes emails.
1.2 Please read these terms carefully before you instruct us to carry out services for you. These terms tell you who we are, how we will provide services to you, how you and we may change or end the contract, what to do if there is a problem and other important information.
If you are unsure about any aspect of these terms or have any questions, please contact us to discuss.
1.3 References in these terms and conditions to “we”, “us” and “our” means Global Asset Finance Limited. References to “you”, “your” means a user of the services, whether as an individual or on behalf of an entity.
1.4 These terms and conditions together with the letter under which we are appointed by you (the “Appointment Letter”) form the contract between you and us (the “Contract”).
2 Information about us and how to contact us
.1 Global Asset Finance Limited is an intermediary which acts as a credit broker to source lenders and providers of financial services for your commercial funding requirements (the “Services”). Upon completion of your application, we will introduce you to lenders or finance providers who may be able to assist with your application.
3.2 Global Asset Finance Limited is not a lender and therefore we will not provide finance or any products directly to you.
3.3 Global Asset Finance Limited is not regulated to, and does not purport to, provide financial advice when broking funding for you. As such, we cannot and do not recommend particular funding products. We aim to obtain offers of funding to enable you to make an informed decision on whether to engage with one or more funders. Should you request advice from us in respect of any particular financial product, we will, with your consent instruct a suitably regulated and qualified firm or individual to carry out the necessary advice. Either we or the instructed firm would make a charge for so doing.
4.1 By submitting an application to us, you are confirming that you have consent of all persons named on the application to act and accept these terms on their behalf and wish to enter into a contract for the Services to be provided exclusively by us on these terms during the term of our agreement.
4.2 If for any reason we are unable to accept your application, we will inform you of this and will not charge you for the Services. This might be because of unexpected limits on our resources for which we could not reasonably plan, because a credit reference we have obtained for you does not meet our minimum requirements or because we have identified an error in your application.
5.1 You must ensure that the details provided by you in your application or at any time thereafter are correct and complete and inform us immediately if there are any changes to those details.
5.2 We will endeavour to introduce you to a number of third party lenders based on your application and credit rating. Please note we may receive a commission for such introductions and are entitled, at any time, to request information on the earnings we may have received as a result of arranging your finance.
3 Our Services
4 Our contract with you
5 Your application
6.1 Any loan or other financial product or service which you obtain via us will be subject to the terms and conditions of the relevant product provider. Before proceeding with any loan or other product or service with the product provider, you should read its terms and conditions carefully and, where appropriate, take independent advice.
6.2 You agree not to bring any claim against Global Asset Finance Limited arising from your use of any loan or other third party product or service via Global Asset Finance Limited. As we will not be a party to any contract or arrangement under which you obtain any loan or other product or service from a third party directly or indirectly through our Services, your sole recourse in respect of any performance, non-performance or delay in performance of the contract or arrangement by that third party will be against that third party.
6.3 We do not guarantee the provision of any loans or finance that we may propose to you. The lenders or financiers decide whether to approve a loan finance application, how much to lend or finance, at what interest rate, on which terms and on what evidence of ability to repay. Where we give examples they are for illustration purposes and we do not warrant or guarantee that these will be the actual rates or terms offered or provided.
7.1 We shall not be liable for any loss as a result of a decision not to lend to you by any lender, financier, bank, financial institution you will solely be liable for any direct and indirect losses you suffer in the event of being unable to obtain a satisfactory loan or finance offer.
7.2 Subject to clause 7.4: 7.2.1 we shall under no circumstances whatever be liable to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with this agreement and the supply by us of the Services; and
7.2.2 Our total liability in contract, tort (including without limitation negligence or breach of statutory duty howsoever arising), misrepresentation (whether innocent or negligent), restitution or otherwise, arising in connection with the performance or contemplated performance of the Services shall be limited to the price paid for the Services.
7.3 The terms implied by sections 3 to 5 of the Supply of Goods and Services Act 1982 are, to the fullest extent permitted by law, excluded from this agreement.
7 Exclusions and Limitations on Liability – The Customer’s attention is particularly drawn to this clause
7.4 We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation; for breach of those legal rights in relation to the Services which are granted to you by statute and may not be limited or excluded.
7.5 We are not liable for business losses. If you use the services for any commercial, business or re-sale purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
7.6 This clause 7 shall survive termination of the Contract.
8.1 We are not responsible for delays outside our control. If our performance of the Services is affected by an event outside our control then we will contact you as soon as possible to let you know and we will take reasonable steps to minimise the effect of the delay. We not are liable to you as a result of any delay or failure to perform our obligations under this agreement as a result.
8.2 We will need certain information from you so that we can provide the Services to you. We will contact you to ask for this information. You agree to provide us with all necessary information when requested and to work positively with us in connection with the production of all necessary documents required by us or the respective lender for the purposes of carrying out the Services (including but not limited to the production of any valuation report required).
8.3 If you do not, within a reasonable time of us asking for it, provide us with this information, or you provide us with incomplete or incorrect information, or there is a change in your circumstances which you do not inform us about, we may end the Contract (see clause 11.1) and you shall be liable to reimburse us on written demand for any costs of losses sustained or incurred by us arising directly or indirectly from such default.
8.4 We will not be responsible nor liable for any costs or losses sustained or incurred by you as a result of us providing the Services late or not providing any part of them if this is caused by you not giving us the information we need within a reasonable time of us asking for it.
8 Providing the Services
9.1 We will charge a Commitment fee of £500.00 Plus VAT [the amount of which will be shown in the Appointment Letter] to cover our professional costs incurred in processing your application (“Commitment Fee”). This fee will become immediately due and payable on the acceptance by you of the indicative terms from a third party funder introduced to you by us. The Commitment Fee cannot be added to the relevant loan facility and is not refundable in the event that you do not complete the drawdown of the loan.
9.2 On completion of a loan with any third party funder introduced to you by us, will also charge you a Success fee of 2% subject to customer agreement, Unless notified otherwise, 2% is the standard agreed commission of the funding offered to you by all such third parties (the “Success Fee”).
Providing the relevant lender consents, this will be added to the total cost of the relevant loan and repaid along with the interest charged on the total amount borrowed. In the event that the lender does not consent, we will invoice you for the Success Fee as soon as reasonably practicable after completion of the funding.
If the chosen fund does not consent, by signing this agreement you are formally instructing your chosen solicitor to pay the balance of the success fee on your behalf from the excess of the loan advance if there is no excess you must pay the invoice within 7 calendar days after the date of the loan.
9.3 We can charge interest if you pay late. If you do not make any payment to us by the due date, we may charge interest to you on the overdue amount at the rate of 4% a year above the base lending rate of the Bank of England from time to time. This interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgment. You must pay us interest together with any overdue amount.
10.1 You may contact us at any time to end the Contract for the Services, but in some circumstances we may charge you certain sums for doing so, as described below.
10.2 If a loan or funding agreement has been executed prior to termination of the Contract, we reserve the right to retain any fees received prior to termination and remain entitled to fees which may have become payable prior to termination.
10.3 If you terminate the Contract prior to the execution of a loan or funding arrangement introduced
9 Application Fees
In the event that after completion of funding you go direct to the third-party funder/s introduced to you by us, a Success fee of 2%is payable upon any subsequent loan completions. These terms will remain for 60 months from acceptance.
10 Your rights to end the Contract Page
You may write to us (other than as a result of a breach by us of our obligations there under) and at any time within 6 months of the date of termination you execute a loan or funding arrangement with a provider that we have approached on your behalf; or you instruct another credit broker to source or obtain finance for you and they approach the same funds as us of which you then go on to execute a loan or funding arrangement, our Application Fee and our Arrangement Fee as set out in clause 9 of these terms shall become immediately due and payable.
11.1 We may end the Contract at any time by notifying you of the same in writing.
11.2 If we end the Contract, we will: 11.2.1 refund any money you have paid in advance for Services we have not provided outside of the “Commitment fee”; and
11.2.2 submit an invoice to you in respect of Services supplied but for which no invoice has been submitted, which shall be payable by your within 7 days of the date of the invoice.
12.1 We aim to provide the highest level of customer service possible, at all times. If you have any questions or complaints about the Services, please contact us.
You can contact us by telephoning our customer service team at 07721 565802 or by writing to us at email@example.com or Building 2, 30 Friern Park London N12 9DA
12.2 We will endeavour to resolve any complaints in accordance with our Complaints Handling Procedure. If you make a complaint, we will acknowledge it promptly, explain how we will handle your complaint, explain what you need to do (if anything) and update you as to how your complaint is progressing.
12.3 If more than 12 weeks from the date of your complaint has past and you haven’t received a final response to your complaint or you are dissatisfied with the final response you have received (at any stage of the process) you may be entitled to take your complaint to the Financial Ombudsman Service.
12.4 The contact details for the Financial Ombudsman Service are as follows:
12.5 Financial Ombudsman Service (FOS)
11 Our rights to end the Contract
12 If there is a problem with the services
13.1 We will use the personal information you provide to us to: 13.1.1 provide the Services; and
13.1.2 If you have agreed to this, to inform you about similar services that we provide, but you may stop receiving these communications at any time by contacting us.
13.2 We will ensure that any information obtained from you is treated confidentially by us and processed in accordance with the Data Protection Act 1998. We will only give your personal information to other third parties where the law either requires or allows us to do so or as set out below.
13.3 In supplying the Services, it may be necessary for us share information about you with Credit Reference Agencies. We will undertake a soft credit search with Credit Reference Agencies (including Equifax and/or Experian). By making an application with us, you are also consenting to us referring your information to suitable third party lenders if we are able to do so. This is dependent on the outcome of our initial credit checks. The relevant third party lenders will then carry out a hard credit search of your file with the Credit Reference Agencies in order to make a decision about your application.
13.4 Your information will also be checked with fraud prevention agencies including CIFAS and other relevant organisations. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies to prevent fraud and money laundering.
Further details explaining how the information held by fraud prevention agencies may be used can be obtained by contacting us on 08000 197180. For the purposes of this application you may be treated as financially linked and your application will be assessed with reference to any “associated” records.
If you are a joint applicant or if you have told us of some other financial association with another person, you must be sure that you are entitled to: Financial Ombudsman South Quay Plaza, 183 Marsh Wall, London. E14 9SR Tel: 0845 080 1800 Website: www.financial-ombudsman.org.uk
13 How we may use your personal information
13.4.1 Disclose information about your joint applicant and anyone referred to by you; and
13.4.2 Authorise us to search, link or record information at Credit Reference Agencies about you and anyone referred to by you
13.5 You warrant that all data provided by you is complete, accurate, up-to date and not misleading or likely to deceive. You authorise us to make all enquiries necessary to verify this information to enable us to consider your application for a loan.
13.6 Under the Data Protection Act 1998, private customers have the right to see any personal information which we hold in our records. If you have any queries, please do not hesitate to contact us.
15.1 We may transfer our rights under the Contract to someone else. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the Contract.
15.2 You may only transfer your rights or your obligations under these terms of the Contract to another person with our written consent.
15.3 The Contract is between you and us. No other person shall have any rights to enforce any of its terms.
15.4 If a Court finds part of this contract illegal, the rest will continue in force. Each of the clauses of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.
15.5 Even if we delay in enforcing the Contract, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breaking the Contract that will not mean that you do not have to do those things or prevent us taking steps against you at a later date.
14 Client money
We will not accept client money other than in respect of fees payable to us, for which you will receive an invoice.
15 Other important terms
15.6 These terms are governed by English law and you can bring legal proceedings in respect of the Services in the English courts. If you live in Scotland you can bring legal proceedings in respect of the Services in either the Scottish or the English courts. If you live in Northern Ireland, you can bring legal proceedings in respect of the services in either the Northern Irish or the English Law Courts.
For example, if you miss a payment and we do not chase you for payment but we continue to provide the Services, we can still require you to make the payment at a later date.
Global Asset Finance Limited
30 Friern Park