Terms of Business and Client Agreement

Terms of Business and Client Agreement

Yorkshire Mortgage Solutions Limited

Authorisation Statement
1. This document is issued on behalf of Yorkshire Mortgage Solutions Limited and will confirm the terms under
which we operate regarding the services we provide in relation to Mortgages and Protection. It should be read
in conjunction with the “About Our Services and Costs” disclosure document issued separately.

2. Yorkshire Mortgage Solutions Limited are authorised and regulated by the Financial Conduct Authority (FCA).
The Financial Conduct Authority (FCA) regulates the financial services industry in the UK and their address is
12 Endeavour Square, London, E20 1JN. You can check this on the FCA’s Register by visiting the FCA’s
website https://register.fca.org.uk/ FCA No. 778717 or by contacting the FCA on 0800 111 6768.

3. You shall not be entitled to assign or transfer the benefit of this Agreement.

Commencement of Client Agreement

4. The Financial Services and Markets Act 2000, requires that we explain the main aspects of the way we
operate, and how this affects you, the client. This Client Agreement will be effective from the date of receipt
but may be amended by us following any initial interview intended to ascertain your current financial situation,
objectives, and attitude to financial risk. Any such amended Client Agreement will be sent to you within 10
working days of that interview. However, irrespective of any amendments arising from such interviews, we
reserve the right to amend the terms of this letter without your consent, but we will give at least 10 business
days’ notice before conducting relevant business, unless we consider it to be impracticable to do so under the
circumstances at that time.

5. As a first step, you are to provide complete and up-to-date information of your personal circumstances and
finances along with your objectives. We will make this task easier by providing information forms for you to
complete and then clarify the information in our meeting. Alternatively, we can take all this information verbally
from you and complete the forms ourselves at the first opportunity.

6. Yorkshire Mortgage Solutions Limited shall provide to the Client the following advice (“the Advice”): –

• Advice in relation to the provision of Mortgage and Protection products and services as
requested by the Client

We will provide a written analysis and recommendations as to the most suitable mortgage and/or protection
product/s to meet your needs and circumstances. We will then include you into our review programme to
ensure you receive appropriate advice in the future. You always have the option to opt out of this service that
we offer to our Clients.

Advice and Instructions

7. Any advice given to you by us shall be in writing. We prefer our clients to give us instructions in writing to aid
clarification and avoid future misunderstandings. We will, however accept oral instructions provided they are
confirmed in writing. We may, at our discretion refuse to accept oral instructions although such discretion shall
not be exercised unreasonably. We will record all transactions on our files which, along with copies of relevant
documentation, will be retained by us for a period of not less than 6 years. You have a right to inspect copies
of contract notes, vouchers and entries in our books or computerised records relating to your transactions.
We reserve the right to withhold copies of these records if information pertaining to other parties would be
disclosed.

8. Unless advised to the contrary, we will assume that you wish to place no restriction on the types of mortgages
or insurances we may recommend and in which you may subsequently invest. Furthermore, unless advised to
the contrary, we will assume that you wish to place no restriction on the markets in which transactions are to be
executed. A full listing of providers and/or products is available from your adviser upon request.

 

Yorkshire Mortgage Solutions Limited’s Objectives

9. Following the issue of this letter, any subsequent advice or recommendation offered to you will be based on
your stated objectives, acceptable level of risk and any instructions you wish to make regarding the type of
mortgage or insurance policies you are willing to consider. Details of your stated objectives will be included in
the Suitability Letter or Demands and Needs Statement we issue to you confirming the reasons for our
recommendations.

10. Implementation of your plans by obtaining a mortgage that we recommended to be suitable, based on the
information you have provided us with, is entirely by your own choice. If we complete the application process
of your behalf and the mortgage is taken up by you, we will receive a proportion of the procuration fee issued
by the mortgage lender. This payment is retained by Yorkshire Mortgage Solutions Limited.

Services which are not regulated by the Financial Conduct Authority

11. Some of the services provided by us may be not regulated by Financial Conduct Authority since they are not
included within the Financial Services and Markets Act 2000. Where we intend to provide advice in relation to
unregulated activities, we will confirm to you what these services are and the fact that they are not regulated
by the Financial Conduct Authority

12. We are not authorised or qualified to give legal advice or to prepare legal documents for you in relation to the
purchase or remortgage of a property.

13. We will not give any advice on Taxation. It is your responsibility to obtain the correct and relevant information
in relation to, but not exclusively, Stamp Duty Land Tax (SDLT), Capital Gains Tax (CGT), etc.

Credit Searches

14. By signing this Terms of Business, you are instructing us to engage with a mortgage lender/s on your behalf.
You understand that should we get to a point that we are applying for a Decision in Principle this will involve a
credit search being done by the mortgage lender/s and that this will leave a “footprint” on your credit file. Any
additional Decision in Principle’s required will leave additional “footprints” on your credit file.

Your Obligations and Responsibilities

15. It is your responsibility to advise us of the Construction Type of the property on which you require us to
arrange a mortgage at our initial discussion in order that we can make a suitable recommendation.

16. It is your responsibility to advise us of the Tenure of the property i.e. Freehold, Leasehold etc. on which you
require us to arrange a mortgage at our initial discussion in order that we can make a suitable
recommendation.

17. We would make you aware that any subsequent credit searches against your credit file made after the
Mortgage Application has been submitted could impact negatively on a Mortgage Offer being made by a
mortgage lender. It could also affect your ability to complete even after your Mortgage Offer has been issued.
The mortgage lender reserves the right to withdraw a Mortgage Offer made at any stage upto Completion.

18. If when asked, you have advised us that it is not your intention to take out further borrowing in the future, we
have an obligation to relay this information to the mortgage lender. If you subsequently take out further
borrowing this will be in contradiction to the information given on your Mortgage Application submitted by us in
good faith and may affect your ability to complete as your Mortgage Offer could be altered or withdrawn if it is
found that further borrowing has been arranged.

19. We will be unable to submit a Mortgage Application on your behalf until we have received all the original
documents as requested and detailed in the Mortgage Application Checklist.

20. On a Remortgage Application we are guided by your estimation of the valuation of your property, this includes
the valuation of the actual property itself and any rental income if the property is a Buy to Let. Current or
anticipated rental income will need to be evidenced. These figures will be agreed upon with your Adviser and
recorded on the Mortgage Questionnaire, they will then be used on the Mortgage Application and submitted to
the lender. However, the decision of the lender’s own appointed Surveyor on the Valuation of the property
(and/or rental income if applicable) is the figure/s which shall be used by the lender for the purposes of their
lending decision. You understand that neither you, your Adviser or Yorkshire Mortgage Solutions Limited are
able to influence the outcome of this valuation in any way whatsoever. You understand and accept that the
decision of the mortgage lender is final and beyond the control of Yorkshire Mortgage Solutions Limited or any
member of its staff.

How we charge for our Services

21. The time spent on work undertaken with regard to your mortgage on advice, recommendation, arranging,
processing and administration of your Mortgage Application will be charged at as follows:

• A fee of £499 is payable upon Application of your mortgage. We will also retain any procuration fee
payable by the lender.

22. Yorkshire Mortgage Solutions Limited will not engage in any work on your behalf until the relevant fee
agreement has been signed and returned by you.
We make no charge for arranging any Protection for you. We normally get paid commission from the product
providers (e.g. life assurance companies) we place business with. We will tell you how much the commission
is before the transaction. We only recommend protection contracts that we consider are necessary to
your personal situation and therefore if you agree with our recommendations, in the event that the
contract is cancelled by yourselves within 48 months of inception we reserve the right to seek
recompense from you for any commission that has been clawed back from us by the provider. This
will be waived if we have recommended that the contract be cancelled in favour of a more suitable
contract.

Our Refund Policy

23. Our refund policy is as follows:
• No refund if we are unable to obtain an Agreement in Principle for you due to a failed credit score.
• No refund if you decide not to proceed or if your sale/purchase falls through.
• No refund if your application is declined by the mortgage lender after originally being Agreed in
Principle.
• No refund if the Mortgage Survey/Valuation prohibits the issue of a Mortgage Offer or if a Mortgage
Offer is issued that you are unable or unwilling to complete on.

24. Any notice to be given under this Agreement shall be in writing and shall be deemed to have been duly given
if left or sent by first class post or registered post to a party at the contact address, it shall be deemed to have
been received by the addressee two working days following despatch of the notice, or if by hand,
simultaneously with delivery. To prove the giving of notice, it shall be sufficient to show that it was
despatched.

Client Monies

25. WE DO NOT HANDLE CLIENT MONIES. We never accept a cheque made payable to us or handle cash
(unless it is payment in settlement of charges or disbursements for which we have sent you an invoice). All
cheques for premiums of any kind and valuation fees, etc. must be made payable to the Life Office, Lender,
Insurance Company or other relevant Companies.

Data Protection

26. The information you have provided is subject to the Data Protection Act 2018 (the “Act”) which includes
mutually agreed rules brought into force by the General Data Protection Regulation (GDPR) of May 2018. By
signing this document, you consent to us or any company associated with us processing, both manually and
by electronic means, your personal data for the purposes of providing advice, administration and
management.

“Processing” includes obtaining, recording or holding information or data, transferring it to other companies
associated with us, product providers, the Financial Conduct Authority or any other statutory, governmental or
regulatory body for legitimate purposes including, where relevant, to solicitors and/or other debt collection
agencies for debt collection purposes and carrying out operations on the information or data.
In order to provide services to you we may be required to pass your personal information to parties located
outside of the European Economic Area (EEA) in countries that do not have Data Protection Laws equivalent
to those in the UK. Where this is the case, we will take responsible steps to ensure the privacy of your
information.

We may also contact you or pass your details to other companies associated with us to contact you (including
by telephone) with details of any other similar products, promotions, or for related marketing purposes in
which we think you may be interested.

The information provided may also contain sensitive personal data for the purposes of the Act, being
information as to your physical or mental health or condition; the committing or alleged committing of any
offence by you; any proceedings for an offence committed or alleged to have been committed by you,
including the outcome or sentence in such proceedings; your political opinions, religious or similar beliefs,
sexual life; or your membership of a Trade Union.

If at any time you wish us or any company associated with us to cease processing your personal data or
sensitive personal data, or contacting you for marketing purposes, please contact The Data Protection Officer.
You may be assured that we and any company associated with us will treat all personal data and sensitive
personal data as confidential and will not process it other than for a legitimate purpose. Steps will be taken to
ensure that the information is accurate, kept up to date and not kept for longer than is necessary. Measures
will also be taken to safeguard against unauthorised or unlawful processing and accidental loss or destruction
or damage to the data. Any personal data collected will be held for a minimum period of 5 years to comply
with regulations set down by the Financial Conduct Authority (FCA). After which time it will be disposed of
through means of secured waste.

Subject to certain exceptions, you are entitled to have access to your personal and sensitive personal data
held by us. You may be charged a fee (subject to the statutory maximum) for supplying you with such data.

 

Law

27. The validity, construction and performance of this Agreement shall be governed by English Law. Force
Majeure. Yorkshire Mortgage Solutions Limited shall not be in breach of this Agreement and shall not incur
any liability to you if there is any failure to perform its duties due to any circumstances reasonably beyond its
control.

28. Nothing in this Agreement shall exclude or restrict any duty or liability we may have to you under the
regulatory system. To the extent that provisions in this Agreement are found to be unenforceable, this
Agreement shall take effect as if such terms had been deleted.

29. This is our standard agreement on which we intend to rely. For your own benefit and protection, you should
read the above terms carefully, and in conjunction with the “About Our Services and Costs” disclosure
document before signing. If there are any terms within this agreement that you do not understand, please ask
for further information. If you understand the above terms and agree to them, please sign both copies of this
Terms of Business which will service as an instruction for us to act upon your behalf and an authority of
engagement between you and Yorkshire Mortgage Solutions Limited and return one to us. Once signed by
you, it is understood that you have read and understood both our Terms of Business and our “About Our
Services and Costs” disclosure document.

Personal Interests

30. All our advisers at Yorkshire Mortgage Solutions Limited offer advice in accordance with that disclosed to you
in our “About Our Services and Costs” document. Occasions may arise where we or one of our other clients
have some form of interest in business being transacted for you. If this happens or we become aware that our
interests or those of one of our other client’s conflict with your interests, we will write to you and obtain your
consent before we carry out your instructions and detail the steps we will take to ensure fair treatment.

Material Interests

31. In accordance with the rules of our regulator, The Financial Conduct Authority, we are prohibited from
accepting any payment (commission or other non-monetary benefits) which is likely to conflict with the duty of
the firm to its clients.

Termination

32. Upon acceptance by signature of our Terms of Business, it will continue until terminated, by notice given in
writing by either you or us. Termination is without prejudice to any transactions already initiated and shall take
place without penalty, subject to any outstanding fees being paid for work as detailed in Section 20. All
monies received up to this point will remain the property of Yorkshire Mortgage Solutions Limited. For the
avoidance of doubt, any cancellation provisions that relate to a particular mortgage product will not enable you
to cancel the services anticipated in our “About Our Services and Costs” document. You will still be liable to
pay our fees for advice, recommendation, arranging, processing and administration even if you cancel a
product acquired pursuant to that advice.

33. Right to Withdraw. In the case of many packaged products – such as life assurance contracts, a right to
withdraw or cancel the contract within a specified period is normally provided. Details of such rights are
ordinarily contained in the product literature (e.g. Key Features document) and/or we may provide details of
such rights in a separate communication.

Client Risk

34. Your home may be repossessed if you do not keep up repayments on your mortgage or other loans
secured on it.

Accounting to You

35. We will confirm to you in writing the basis of our reason for all recommendations we have made to you for
both mortgage and protection products. The Suitability Letter for Mortgages and the Demands and Needs
Letter for Protection will either be emailed to you if you have provided us with a valid email address, otherwise
it will be posted. This should be checked, and a copy kept for your records.

Mode of Communication

36. We will enter into communication with you through whatever means are convenient to you and us, including
face-to-face, telephone, e-mail and other acceptable electronic communication methods.

Companies Act Disclosure

37. Registered Office: Yorkshire Mortgage Solutions Limited, Barnsley Business & Innovation Centre, Innovation
Way, Barnsley, S75 1JL. Registered in England and Wales under Company No. 10596215

Clients Consent

38. This is our standard client agreement upon which we intend to rely. For your own benefit and protection, you
should read these terms carefully before signing them. If you do not understand any point, please ask for
further information before signing.

I/we confirm that I/we have read, understood and accept both the Terms of Business and the
“About Our Services and Costs” disclosure document.

Signature ____________________________________
Print Name
______________________________________
Signature ____________________________________
Print Name
______________________________________
Dated this _____________ day of _________________________________________________ 20______________