Commercial Mortgage & Finance Service

General Terms and Conditions

Together the Client Fee Agreement and the terms and conditions form the basis upon which you agree to engage our Firm (referred to in the Commercial Mortgage & Finance Service as ‘we’ ‘us’ or the ‘firm’) to provide certain services (‘the services’) to you.

Authorisation

Number One Mortgages Ltd is Authorised and Regulated by the Financial Conduct Authority (FCA) for mortgage sales. Our Financial Services Register number is 670793.

Please note that Commercial mortgages & finance are not regulated by the FCA and therefore the provision of our service does not hold this additional level of consumer protection, unlike residential mortgages. We will however ensure when dealing with you, we act in your best interests and apply the regulatory standards for the introduction of this type of business by our regulator (FCA).

What service & products do we offer?

We act as an Independent commercial finance broker. We specialise in helping businesses, investors, and developers secure the right funding solutions tailored to their needs.

We provide independent advice on commercial mortgages and finance, helping you navigate the options available and make informed decisions.
We assist with a wide range of commercial finance solutions, including:

• Commercial mortgages (owner-occupier & investment)
• Buy to let portfolio finance
• Bridging loans & development finance
• Semi-commercial mortgages

We provide clear and tailored advice to help you make informed decisions, but the final choice on how to proceed is always yours. We recommend seeking independent legal and tax advice where necessary.

What will you have to pay us for our services?

At Number One Mortgages Ltd, we believe in being transparent about our own charges so that you know exactly what to expect. However, it’s important to note that lenders, solicitors, and surveyors set their own fees, which can vary significantly and may not always be clear upfront.

Processing Fee of £500

Payable to submit the application. This covers the work involved in assessing your case and managing the application process.

Offer Acceptance Fee is typically £1,499

This fee does vary depending on the loan size and complexity it is payable once a formal offer has been issued by the lender.

These fees cover the time, expertise, and administration involved in securing your finance and are non- refundable unless otherwise agreed in writing.

We will not commence any substantive work for which we will charge you a fee until we have agreed the applicable fee with you and such fee is recorded in a binding Client Fee Agreement.

We will not exceed any limits on any fee set out in the ‘Client Fee Agreement’ without your agreement.

We do not accept cash as a form of payment. Any payment to a third party must be addressed to that third party. We do not accept Client Money (as that term is defined by the FCA).

Lender & Third-Party Fees (outside of our control)

In addition to our fees, other costs may apply depending on the lender and the complexity of your case. These may include lender arrangement fees, valuation fees & legal fees.

We will always do our best to outline potential costs in advance and ensure you are informed at every stage. However, lenders, solicitors, and surveyors set their own charges, and we cannot guarantee their transparency. If anything is unclear, we strongly recommend asking for a breakdown of costs before committing.

Risk

Please be aware property values and prices fluctuate according to market conditions and the value of your property may go down as well as up. In the future, this could mean that your loan exceeds the property’s current market value, that is, you could be in ‘negative equity’ situation.
Please be aware you may have a tenant that does not pay their rent or a period where the property is not rented. If you do not meet the monthly mortgage payments, then the property could be repossessed and future mortgage applications may be affected due to any missed payments incurred.

Your Responsibilities

To ensure the best possible outcome we ask you:

• Provide full and accurate information about your circumstances (more details in the Your Duty of Disclosure section below.
• Review all finance terms carefully before committing.
• Respond promptly to requests for documentation to avoid delays.

Seek independent legal or tax advice if you are unsure about any aspect of your financial commitments.

Your Duty of Disclosure

It is your responsibility to provide complete and accurate information to us, or to any product provider, at every stage of the relationship. It is important that you ensure all statements that you make to us or any provider, are true and accurate and that you fully disclose all material information when requested to do so.
If you fail to disclose any material information to us or to any provider, this could invalidate the product that we arrange for you. We cannot be held responsible for your failing to disclose relevant information when requested to do so.
We are entitled to rely on the information that you have disclosed to us and cannot be held responsible for any consequences arising from the information held on your file becoming inaccurate due to a change in your circumstances if you fail to inform us of such changes.

Credit Searches & Data Sharing

When applying for finance, lenders may conduct credit, and affordability checks with credit reference agencies. A single check, or even a couple, is unlikely to have any impact on your credit score. However, multiple credit searches within a short period could negatively affect your score.
By proceeding with us, you consent to us and lenders carrying out these necessary checks. We take data protection seriously and will only share your information with:

• Lenders and financial institutions
• Credit reference agencies
• Solicitors, surveyors, and other relevant third parties

We handle all personal data in line with the UK General Data Protection Regulation (UK GDPR). You can find more details in our Privacy Policy on our website.

Cancelling or withdrawing from an application

You are free to withdraw from the process at any stage before accepting a formal lender offer. However, please note:

• The £500 Processing Fee is payable when an application is submitted and is non-refundable.
• The Offer Acceptance Fee (typically £1,499) is payable once a lender has issued a formal offer and remains due even if you later decide not to proceed.
• Third-party costs (such as valuation or legal fees) may still be payable if work has already been undertaken.

If circumstances change and you need to pause your application, we encourage you to discuss this with us as soon as possible, and we’ll do our best to assist.

Dissatisfaction with our Service

We hope that you will always be satisfied with the Service we provide. In the unlikely event that you wish to register a complaint, then the relevant contact details are as follows:

In Writing: Kevin Dunks, Number One Mortgages Ltd, 378 Brighton Road, Shoreham By Sea, BN43 6RE

By Telephone: 01273 736536

By Email: info@numberonemortgages.co.uk

Amending these Terms and Conditions

We reserve the right to amend these terms of business without your consent. In this event, we will provide you with reasonable notice of changes. As a consequence of any such change you may choose to terminate the relationship, and, if you do so this will be without cost to you, provided always that you acknowledge you do at all times remain responsible for making payments that may be due under a Client Fee Agreement.

Termination of the Relationship Between Us

Either party has the right to terminate our relationship at any time without penalty. Notice of this termination should be provided in writing and sent to the usual address of Number One Mortgages as set out below, as this will ensure that no confusion arises between us. Should we decide to give you notice, it will be provided in writing by email or to the most recent correspondence address Number One Mortgages has on file for you.

Governing Law & Jurisdiction

These general terms and conditions are governed by and shall be interpreted in accordance with the laws of England. Any dispute arising in connection with these shall be subject to the exclusive jurisdiction of the English courts.