TERMS & CONDITIONS

WHAT IS THIS SECTION?
This section explains what services we will provide to you and the basis on which we will provide these services. Your instructions to us to proceed either to advise you or to arrange lending on your behalf, amount to your acceptance of the terms set out in this section. You will be provided with a hard copy of these Terms & Conditions to sign and return to us should you instruct us to obtain an Agreement in Principle from one of our overseas lenders.

OUR SERVICES
We offer 2 levels of service, our Standard service and our Gold service. Full details of the individual aspects of each service and the costs are detailed below. Whichever level of service you select, our aim is to provide you with a lender to finance your chosen property and assist you with the appropriate lender paperwork, however please bear in mind the final decision to lend rests with the chosen bank. Should a bank decline your application, we will endeavour where possible to find you an alternative source of funding. However, if you have disclosed all relevant information to us and the bank subsequently declines your application and we are unable to find you an alternative source of funding, we will refund your application fee less a sum of £95 for our administration costs. In addition to the application fee we may receive commission from the lender or product providers of the associated insurances. Please make all fees payable to Connect Overseas. Should your application  be declined by the lender due to information you have not disclosed to us, or you decide not to proceed with your application, the application fee is not refundable, but may be transferred to an alternative mortgage application. 

HOW DO YOU PAY US FOR OUR SERVICES?

Application Fee

£395 or £795 depending on service chosen

Payable on Application

Success Fee

£395

Payable on offer of the mortgage

Please make all fees payable to Connect Overseas or complete the credit card authorisation form on the following page. All payments should be made within 7 working days of when they fall due.

 

Standard

Gold*

Introduction to the most appropriate lender

Y

Y

Provide you with a quote to indicate the mortgage related costs

Y

Y

Assistance with completion of lender Application Form

Y

Y

Provide you with a checklist of documents required by the lender

Y

Y

Liaise with bank on additional requirements and further document requests

Y

Y

Explanation of mortgage offer (where issued)

Y

Y

Recommend independent overseas Lawyer

Y

Y

Guidance on Bank account opening

Y

Y

Recommend a currency specialist

Y

Y

Arrangement of insurance/life cover assignment

N

Y

Contact property agent to ensure correct contracts and plans available for lender

N

Y

Contact Lawyer to ensure correct legal documents are in place to suit lender requirements

N

Y

Submit copy of contract to lawyer early in the process for contract checking of any relevant purchase or mortgage issues

N

Y

Become involved with problems that may arise with 3rd party issues such as valuation problems, contract issues and developer/agent problems.

N

Y

Resubmit your application to an alternative lender if first lender declines for any reason (additional fee of £95 on Standard Service)

N

Y

Courier charges where required by lender – compulsory for Dubai – (additional fee of £100 on Standard Service)

N

Y

COST OF SERVICE

Application Fee – Payable up front

£395

£795

 

Success Fee – Payable on successful offer of the mortgage

£395

£395

*Our Gold Service is assured when you use one of the independent lawyers from our recommended panel.  Should you choose to instruct your own lawyer we cannot be held responsible for any delays in the legal process.  The cost of legal work is not included in our fees.  Only certain countries are currently eligible for the Gold Service.

WHAT ARE YOUR OBLIGATIONS TO US?
We can only advise you on the basis of the information you give us.  You agree that it is in your best interests to, and that you will give us comprehensive information about yourself and your personal circumstances.  It is in your and our mutual interest that your instructions are as clear and precise as possible and therefore you will, if requested, give us your instructions in writing.  It is important that you allow sufficient time for the processing of your application which for some countries can be considerable longer than a UK mortgage application.  You accept that we cannot be held responsible should a lender be unable to provide a mortgage offer within any timescales that you may have committed to for your purchase.  It is important that you respond to requests for information and documents promptly and fully.  Please be aware we cannot normally submit an application to a lender until we have all the requested documents to support it.

COMPLAINTS PROCEDURE
We aim to provide a high quality service.  However, if you have any queries or concerns about our work, please take them up first with our advisor working for you.  If that does not resolve that problem to your satisfaction, or you prefer not to speak to our advisor, then please take the matter up with the principle of Connect Overseas, Elizabeth Syms.  We maintain professional indemnity insurance covering the services we provide to you.

DATA PROTECTION
We will store and use any personal information about you to fulfil your instructions in accordance with the Data Protection Act 1998 (“the Act”).  This information may be made available to certain third parties such as regulatory authorities, our auditors or lenders, who may also be bound by the Act.

JOINT AND SEVERAL LIABILITY
If we are providing our service to more than one person under this Terms of Business and Client Agreement then each of you agree to be bound jointly and severally by them and that your are individually responsible for the performance of the obligations of all the signatories to this Agreement.

LEGAL JURISDICTION
This agreement will be governed by and construed in accordance with the laws of England and Wales and any dispute will be subject to the exclusive jurisdiction of the courts of England and Wales.