Crisp Capital Limited trading as crispcap (The Broker)
Terms of Business
For commercial Finance
Date – 10th June 2023
1. Service-
Our aim is to provide you with a professional and confidential service that delivers the highest possible standards.
In assessing your loan application we will make enquiries about you including searching records held by credit reference agencies and fraud prevention agencies. If you give us false or inaccurate information and we suspect fraud, we may record this. Law enforcement agencies may access and use this information. The credit reference and fraud prevention agencies will keep details of any searches. We may also use your credit scoring methods to assess your application and to verify your identity. In addition, whilst assessing your application, this may also be used for debt tracing, prevention of money laundering as well as the on-going management of your account.
Information held about you by the credit reference agencies may already be linked to other addresses and records relating to another person, for example your spouse. For the purpose of your application you may be treated as financially linked and your application will be assessed with reference to any “associated” records. By signing the Loan Application Form you are confirming that you are entitled to disclose information about any joint applicant or “financial associate” for the purpose of this application.
We are not authorised and regulated by the Financial Conduct Authority, as we do not arrange finance for consumers, we are solely a commercial finance broker.
Commercial finance arrangements are outside the scope of the Financial Conduct Authority regulatory framework and the Financial Ombudsman scheme.
2. Keeping you informed
• We ascertain the appropriateness of the requested service for all new client’s prior to accepting a deal, ensuring it is in line with their knowledge and experience.
• We continually aim to understand the needs of our clients.
• We aim to keep our clients fully informed in a clear and fair manner that is unambiguous and not misleading.
• We ensure our services are delivered with clarity and transparency and do not contain hidden conditions or rely on complex technical definitions.
• We will keep an accurate and comprehensive record of all our dealings with a client, so that in the event of any dispute or discrepancy, we will be able to provide a full breakdown of interchanges between all parties.
• We make certain our clients understand the risks associated with our services at the outset of an instruction, where appropriate.
• We work hard to ensure that service and risk information remains clear and prominent at all times.
• In the unlikely event that there is a conflict of interest, we will inform our customers as soon as possible once we become aware of it.
3. Appraisal and arrangement fees
Any fees payable will be communicated with you and written into the terms of business letter that will be provided to you when you are ready to proceed.
Currently we do not charge a fee for arranging finance, in some circumstances we may, if we do we will tell you before you proceed to application.
We receive commission payments from lenders and master brokers for arranging finance. All lenders pay commissions, this is for the work we undertake on the lenders behalf; this commission does not impact your loan payments.
4. Finance arrangements
We provide commercial finance for limited companies only, we maintain a panel of lenders and master brokers so that we can find a solution to meet your needs.
We provide financial solutions wholly or predominantly for business purposes.
I have been made aware that commercial mortgages entered into by the way of business are not regulated as a residential mortgage and therefore does not hold the additional level of consumer protection as for regulated finance.
You will be made aware that if I am in any doubt as to the consequences of this agreement not being regulated then I should seek independent legal advice,
In order to prevent delay, you must confirm that any information requested will be submitted as soon as possible.
You should seek separate legal and tax advice regarding your responsibilities of owning this type of property. Please note our service does not consider the suitability of you purchasing a property for business purposes.
5. Data protection.
We are registered with the ICO as a data controller ZB564324, when we complete information and submit the application to the lender, they are acting as the data controller and we are the data processor.
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 us to unsubscribe.
6. Complaints
We endeavour to resolve all complaints within (5 days) if we require further information from you or third parties we aim to fully close complaints within 8 weeks from receiving them.
If you have a complaint please send to:
The Director – 3 Brindley Place, Birmingham, B1 2JB
Or email –team@crispcap.co.uk
