The Terms On Which We Accept Business From You

You agree that TFC Secured Loans will process your applications strictly on the following basis:

This agreement is between: The Company – TFC Secured loans
And Yourself – (Appointed introducer)

1. The Company reserves the right to alter the terms and conditions under which commissions shall be paid to the introducer without giving prior notice. All stationery, advertising material or the like remain the property of and for the exclusive use of the company.

2. The application submitted by the introducer on behalf of a client will form the basis of the loan terms offered and the introducer warrants the application to be a true and correct reflection of the clients circumstances and no information will knowingly be withheld that may affect the approval and granting of a loan.

3. The introducer must be licensed under the Consumer Credit Act 1974 and as amended and must strictly adhere to all provisions of the Act. Where the introducer wishes to carry out the selling of non investment insurance products or Payment Protection Insurance, the introducer must also be authorised and regulated by the FSA.

4. The introducer agrees to abide by the regulations as contained in the Consumer Credit Act 1974 and 2006 and any such amendments to the Act, the Financial Services Authority regulations concerning advertising, the selling of non investment insurance products and any other legislation that governs the marketing and administration of consumer finance and related insurance products and also the Data Protection Act. Particular importance should be placed upon:- a) prior written invitations before visiting a client's home, b) adhering to the advertising regulations c) adhering to the consideration periods as laid down in the Consumer Credit Act for regulated transactions i.e. the introducer must not contact the client with regard to their loan application for 17 days after we have received the application at our offices. d) Complaints received in relation to the financial product or it’s administration procedures should be directed to the ‘Complaints Department’ at TFC Secured Loans. e) Treating the Customer Fairly (TCF), FSA regulation provides that each person dealing with the public in relation to any financial products treats that person in accordance with TCF guidelines.

5. Under the terms of the Consumer Credit Act, it is illegal to make any charges to the customer (this includes survey fees, process charges and other costs) prior to or after completion of the loan. In most cases a fee will be charged by this company to defray setting up and administration costs and part of this fee will be paid to you. In certain cases where you have agreed with the customer an additional fee may be charged and paid in full to you providing we have the customers written consent and subject to our approval. This extra fee will be added to the fee we may charge and included in the total cost of the loan, these charges are then reflected in the APR shown to the customer on the credit agreement. 

6. The introducer agrees that he is responsible for his own incidental costs in procuring secured loan business, whether the application is successful or not, for example items such as advertising, travelling expenditure, telephone and other office costs etc. The cost of processing applications will be met by TFC unless otherwise stated and will include, valuations, searches, legal and reference costs etc.

7. For the sake of definition the relationship between TFC and the introducer is one where TFC are appointed by the introducer to process a secured loan application in an administrative capacity only where advice or recommendation is not given to a client. On receipt of an application TFC understands the introducer has already completed the sales process and agreed specific terms with the client as instructed to TFC.

8. The introducer must at no time attempt to contract or bind TFC or its Lending Principals nor incur any liability on behalf of them. The introducer must at all times respect and work within the confines of the Consumer Credit Act, FSA and other relevant legislation and underwriting criteria as laid down by the Lending Principals of TFC.

9. The introducer agrees to indemnify TFC (as appropriate) from and against any and all loss damage or liability suffered by TFC resulting directly or indirectly from any wrongful act, neglect, default or fraud of the introducer .

10. Either party may cancel this agreement by giving one month's written notice, unless there has been a breach of these terms when notice may be forfeited.

11. The company will pay agreed commission within 48 hours of receipt from the lending company. All or part of the commission may be refunded at the discretion of the lender or the company and will be required to be refunded within 30 days of the request. Refund of commission usually occurs in the event of fraud, returned cheque, premature redemption, early repayment arrears. In all events, the introducer indemnifies the company in respect of their share of the commissions reclaimed. Responsibility for returned commissions will be effective for up to the first six months from the start date of the loan.

12. The Loan Products stated represent a cross section of those available, each individual case is underwritten on it’s own merits and the terms offered will be the best available based on the circumstances of the client. Interest rate and commission payable will be confirmed once an application is received, commission can sometimes vary up to the time of completion based on the changing circumstances of a customer (applicable to ALL loan products).

13. Where a customer has cause for complaint this will be dealt with under FSA regulation for ‘complaint handling’ every effort will be made to resolve the matter however, where in our opinion the introducer is responsible for the complaint the matter will be referred to them to be resolved directly with the customer. A copy of our complaints procedure is available on request

14. By submitting secured loan business you agree to and are bound by the terms and conditions herein.

You may wish to apply for registration to the Finance Industry Standards Association (FISA). FISA is the voluntary body assigned as industry regulator to the secured loans industry. For information on how to be registered and help with compliance and marketing, go to the FISA website at: www.fisa.co.uk You may also wish to seek information from the FSA, go to www.fsa.gov.uk

TFC Secured loans are administered exclusively by Guardian Homeloans Limited.

NOT FOR PUBLIC DISTRIBUTION
rev. Jul 07