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Terms and Conditions

Defined terms;

Appraisal Fee; the fee set out in clause 3.1 below

Arrangement Fee; the fee set out at clause 3.2 hereof

Completion; the date any Finance Agreement with a Lender becomes effective following a Lending Proposal

Credit Broking; the Services which We provide to You under this Agreement

Commencement of the date on which We commence providing Credit Broking to You
this Agreement

Fees the Appraisal Fee, the Arrangement Fee or the Renewal Fee as the case may be

Finance Agreement; a loan, credit or hire agreement

Finance Offer ; a written offer setting out proposed terms of finance issued by any Lender whether such offer is conditional or unconditional or any replacement thereof

Lender; any lender to whom the Lending Proposal is presented

Lending Proposal; the proposal prepared by Us setting out the requirements recorded in the Confirmation of Instructions provided in accordance with paragraph 1 of the attached Terms and Conditions as varied from time to time

Loan Amount; the sum of any amounts payable by a Lender to You following the issue of a Finance Offer by that lender which has been accepted by You

The Regulated the Financial Services and Markets Act 2000(Regulated Activities) Order 2001
Activities Order

Renewal Fee the fee set out in clause 3.3 below.

You, Your; the Client as referred to above

We, Our, Us the Broker as referred to above

1. Appointment of the Broker

This document sets out how We will deal with You in the provision of Credit Broking. We will start providing Credit Broking, and this Agreement will be dated, once We and You have signed this Agreement. This date will be the Commencement of this Agreement.

2. Authorisation Statement

Turk Finans Ltd is an Appointed Representative of AFS Compliance Limited, which is Authorised and Regulated by the Financial Conduct Authority, firm number 625035. The Financial Conduct Authority (FCA) regulates financial services in the UK and You can check Our authorisation and permitted activities on the Financial Services Register by visiting the FCA’s website http://www.fsa.gov.uk/register/home.do or by contacting the FCA on 0300 500 0597.

3. Appraisal and Arrangement Fees

3.1 Appraisal Fee

In consideration of the appointment You will pay to the Broker an Appraisal Fee of £500 for the purposes of assessing and preparing the Lending Proposal; the Appraisal Fee shall be paid on the Commencement of this Agreement.

3.2 Arrangement fee

If a Finance Offer is made by a Lender to whom We presented the Lending Proposal You will pay in addition to the Appraisal Fee a fee of £0. Payment of the Arrangement Fee shall be made within 14 days of the date of issue of the Finance Offer by that Lender.

3.3 Refund of Fees etc

3.3.1 Unless the Lending Proposal comprises an application for a Regulated Mortgage Contract or Home Finance Plan (as defined by the Regulated Activities Order) , if

(a) You do not enter into a Finance Agreement within a period of 6 months commencing on the date We submit a Lending Proposal, or if there is more than one Lending Proposal submitted by Us, the first Lending Proposal; or

(b)within the period referred to in (a) You accept a Finance Offer and enter into a Finance Agreement but exercise a right to withdraw under section 66A of the Consumer Credit Act 1974 or a right to cancel under section 69 of the Consumer Credit Act 1974

then We shall refund all Fees paid under this Agreement less £5.00 in accordance with clause 3.3.2

3.3.2 If clause 3.3.1 of this agreement applies then the refund shall be paid by us within 30 days of the end of the period referred to in 3.3.1. (a) above or the date upon which it is clear to Us that the Finance Offer will not proceed to Completion whichever is sooner.

3.3.3 If the circumstances referred to in clause 3.3.1 apply, and Fees have become due, they will be cease to be payable.

3.3.4 For the avoidance of doubt, no Fees are refundable, or cease to be payable, if the Lending Proposal comprises a Regulated Mortgage Contract or Home Finance Plan.

4 Client Acknowledgement

4.1 You acknowledge that:

4.1.1 You have been urged to seek such independent advice as You consider necessary before signing this Agreement;

4.1.2 We source Lending Proposals from a panel of lenders whose particulars will be supplied upon request.

4.1.3 We may receive commission from the Lender as detailed in clause 3 of the attached Terms and Conditions as well as receiving Fees separately from You pursuant to clause 3.1, 3.2 and 5.1 of this agreement; for the avoidance of doubt these sums are subject to the terms of Our arrangements with the Lender who pays that commission and will not be subject to the refund arrangements in clause 3.3 above.

4.1.4 You have read the Brokers Terms and Conditions set out below and agree that they form part of this Agreement.

4.2 You consent that

You are in agreement to pay the Fees.

You are aware that We may receive commission from a Lender for the arrangement of this agreement and You have no objections to Us receiving this amount. – see attached Terms and Conditions para 3.

5 Renewal of this Agreement

5.1 This Agreement continues for a period of six months from the date We first submit a Lending Proposal for You at which stage, should You by then have not entered into a Finance Agreement, it will lapse. Should You then wish to continue receiving Credit Broking, after We have refunded any fees payable by You under clause 4 above, You may request that We renew it upon payment of the Renewal Fee of £xxx. The Renewal Fee will be refunded by us in the same circumstances and on the same conditions as is set out in clause 3.3 above.

5.2 Should this Agreement be renewed under this clause, it will continue on the same terms, subject to the terms of this clause, save that;

5.2.1 the Renewal Fee will be payable in place of the Appraisal Fee.

5.2.2 the Arrangement Fee will become payable, or repayable, (if already refunded pursuant to clause 3.3), on the making of any new Finance Offer, or if a Finance Offer previously made, for which the Appraisal Fee has been refunded, has resulted in a Finance Agreement being signed by You but will be subject to the same terms as to repayment as are set out in clause 3.3.

6. Mortgage Applications (“Mortgage Only Credit Broking”)

If Credit Broking pursuant to this Agreement is provided only to enable You to enter into a loan secured by a mortgage over land or property, You will sign the declaration below; in that case We are unable to, and will not, submit any other Lending Proposal for You for any form of unsecured lending.

7. You authorise Us to contact You by any means with marketing material.

and Conditions Page


1. Confirmation of Instructions

1.1. Before signing the Agreement the Broker will complete a Confirmation of Instructions (the Instructions) which shall be read and take effect as if they form part of the Agreement.

1.2. Any change to or variation of the Instructions will not affect the liability of the Client to pay any fee pursuant to the Agreement.

2. The Client’s Duty to the Broker

2.1 The Client agrees to be act with utmost good faith in the provision of information to the Broker. The duty is continuous and applies to all the information the Client provides, whether the Broker has asked for it or whether the Client has provided it voluntarily. The Client agrees not to withhold information from the Broker.

2.2 The Client agrees to take all reasonable steps and use all reasonable endeavours to comply with and satisfy any condition imposed by the Lender who has made a Finance Offer that accords with the requirements set out in the Confirmation of Instructions letter.

2.3 The Client agrees to notify the Broker if at any time they intend to appoint an additional or alternate broker or intermediary to obtain an offer of finance for them whereupon the Broker will be entitled to terminate this Agreement forthwith.

2.4 If the Client fails to notify the Broker that they intend to appoint an alternate or additional broker or intermediary prior to doing so and if an offer of finance is obtained from any Lender the Client will pay the Arrangement Fee calculated by reference to the Finance Offer made but otherwise in accordance clause 3.2 of the Agreement to the Broker.

3 Introductory Commission

3.1 The Lender may pay the Broker introductory commission in respect of the funding set out in the Finance Offer. If commission is to be paid, and the amount of commission is known to the Broker prior to acceptance of the Finance Offer, the Client will be informed that commission will be paid. Commission paid to the Broker may vary in amount depending on the Lender or product.

3.2 The Client having acknowledged the matters set out under the Client Acknowledgment consents to the Broker receiving and retaining any commission paid.

4 Termination

4.1 The Broker may terminate the Agreement by giving 14 days written notice to the client.

5 NACFB Code of Practice/Complaints/Arbitration

5.1 The Broker agrees to act on behalf of the Client in accordance with the terms of the Code of Practice of the National Association of Commercial Finance Brokers as amended (the Code) and a copy of the Code is available on request from the Association or on the NACFB website www.nacfb.org

5.2 The Broker will investigate and deal with any complaints raised by the Client concerning the services provided under this Agreement promptly and reasonably but if the Broker is unable to resolve any complaint to the Client’s satisfaction the Code stipulates the procedures available to the Client including arbitration.

5.3 If a Client is unhappy with the Broker’s response to their complaint, they may be able to complain to the Financial Ombudsman Service at: Financial Ombudsman Service, Exchange Tower, London, E14 9SR. The Ombudsman can also be contacted by telephone at 0800 0234567 or 0300 1239123. The Ombudsman Website address is www.financial-ombudsman.org.uk. The Ombudsman will be able to confirm whether or not he can look at the complaint. If the Client is entitled to make a complaint to the Ombudsman, then they are not bound to follow any alternative procedure, and can make their complaint to the Ombudsman within the timescales set down by the rules applicable to that scheme, details of which will be provided to the Client by us on request.

6. Data Protection

6.1 The Client agrees that any information he provides which may be held and processed by the Broker may be shared with the Lenders, third parties to protect the Broker against fraud, to satisfy the Code and in accordance with any statutory or legal obligation the Broker might have.

6.2 The Broker may use and disclose details of this application and any resulting Offer of Funding to the Client to any Lender, any intended guarantor any investor and their legal advisors and may further use and disclose information to the Financial Conduct Authority, NACFB, any processing agents with whom the Broker may hold an agreement to process data.

6.3 In accordance with the Data Protection Act 1998 the Client is advised that information provided may be held by the Broker in its computer and papers records and retained for a period of six years after the date of this Agreement.

7 Amendments

Any amendment whether proposed by the Broker or the Client shall be notified in writing to the other party. Any amendment proposed by the Broker shall take effect on the date specified unless in the meantime the Client notifies the Broker to the contrary or requests an extension of time. Any amendment proposed by the Client shall take effect when accepted by the Broker in writing.

8 Assignments and third party rights

This Agreement is personal to the Client and a person who is not a party to this Agreement may not enforce any of its terms under the Contracts (Rights of Third Parties) Act 1999.

9 Professional Indemnity

The Broker will maintain professional indemnity insurance cover in respect of its business with and on standard terms offered by reputable insurers.

10 Client Money

In the event that the Broker holds Client money, it will be kept in a separate designated client account for the benefit of the Client.

11 Exclusions

The Client accepts that the Broker shall have no liability for any economic loss (whether direct, indirect or consequential) insofar as it relates in any way to loss of business, loss of Client data, interruption of business or loss of profits or goodwill as a result of the manner of performance by the Broker of any obligations arising under this Agreement. This exclusion of liability will not, however, otherwise affect any statutory rights of the Client.

12. Choice of Law

The Agreement shall be construed in accordance with English Law and the parties irrevocably agree to submit to the exclusive jurisdiction of the English Courts.


In order to process the application for funding the following information may need to be supplied, including accounts and personal financial details, by the Client, and by other sources such as Bank and credit reference agencies.

We may also, when authorised by You in writing, apply for supplementary information from professional or other advisers.

We will record this information (whether in manually operated or automated systems) and retain it only as long as We are required by law to do so. We will keep it as securely as possible.

We will use the information to assess the application, to approach a number of selected funders and, subsequently, in negotiations for the issue of an offer of funding with them.

In order to do so, We will disclose such of this information as is necessary to negotiate terms with a funding source, with employees of this business, any guarantor required by the funder, any person or organisation necessary to comply with any legal or regulatory requirements to which We may be subject, and anyone else whom You may specifically authorise in writing.

We may also use the information to monitor and analyse Our business and, unless You instruct us in writing not to do so, contact You with details of products or services which may be of interest to You.

In the event that We search with credit reference agencies, We will need to disclose information about You. The credit reference agencies will record details of Our searches. If You would like details of the credit reference agencies please write to us at the address stated.

You have the right to apply to us for details of the information We hold about You. An administrative charge may be made by us for doing so.