Terms Of Business Policy

By asking us to quote for, apply or arrange Broker Services, you acknowledge and agree they will be processed by us in accordance with these terms.

SCOPE

We are a credit broker and not a lender. We can introduce you to a panel of lenders.

Whichever lender you choose, we receive commission from them (either a fixed fee or a fixed % of the amount you borrow), and different lenders pay different rates.

For certain lenders, we do have influence over the interest rate, and this can impact the amount you pay under the agreement. Whichever lender you choose, we receive commission from them, and this is included in the amount you pay. The commission is only payable by the Lender to us if you decide to accept the Finance Offer and proceed to enter into a Finance Agreement.

We agree to submit Lending Proposals to Lenders on behalf of you in order to procure, so far as we can do so, an offer of finance to you (“Broker Services”).

We offer a wide range of commercial financial products, including leasing and asset finance, commercial mortgages, property development finance, cashflow finance, etc.

We will source finance from the market that is suitable to the requirements you disclose to us. We will advise and make a recommendation for you after we have assessed your needs.

We are not an independent financial advisor. We may advise you on the products, subject to your personal circumstances, though you are not obliged to take our advice or recommendation. When the preferred option has been agreed, we will provide you with information about the Finance Offer and the Lender to ensure you understand your responsibilities and commitments before proceeding.

You wish to engage us for such Broker Services and are willing for the Lender to pay to us commission in relation to the provision of such Broker Services.

STATUS DISCLOSURE

Pinks Asset Finance Ltd is an Appointed Representative of Moorgate Finance Limited T/A MBN, which is Authorised and Regulated by the Financial Conduct Authority, firm number 662419. Pinks Asset Finance Ltd is incorporated in England and Wales

Pinks Associates Ltd (we or us). We are registered in England and Wales under company number 15916322, and we have our registered office at 4 Kings Avenue, Chichester, West Sussex, PO19 8EA.

DEFINITIONS

  • Advance Amount: The amount to be advanced to you by way of credit under a Finance Agreement following your acceptance of a Finance Offer and, in relation to a Finance Agreement which is a hire agreement, the total amount of the rentals due from you to the Lender under the Finance Agreement.

  • Agreement: This document together with a Confirmation of Instructions and any other schedules and documents specifically referred to herein as being incorporated within this agreement between the Parties and as may be updated or amended from time to time.

  • Broker Services: Our agreement to submit Lending Proposals to Lenders on behalf of you in order to procure, so far as it can, from such Lenders an offer of finance to you.

  • Code of Practice: The Code of Practice of the NACFB as may be amended or updated from time to time.

  • Commission: A sum of money that is paid upon completion of a task from a Lender.

  • Completion: The date of your Finance Agreement with a Lender.

  • Credit Search: A search carried out on your credit report to understand your financial behaviour.

  • Credit History: A record of your responsible repayment of debts.

  • Credit File: A list of credit arrangements, including bank and credit card accounts, loan agreements, and/or utility company payment records.

  • Data Protection: The UK Data Protection Legislation relating to personal data and all other legislation and regulatory requirements in force from time to time which apply to a party relating to the use of personal data.

  • FCA: Financial Conduct Authority – the conduct regulator for financial services firms and financial markets in the UK.

  • Fees: Appraisal, Broker Arrangement Fee or Renewal Fee as the case may be.

  • Finance Agreement: A loan, credit, or hire agreement of any type which is entered into by you with a Lender following the provision by us of the Broker Services.

  • Finance Offer: An offer by the Lender to enter into a Finance Agreement with you, including where such an offer is conditional or unconditional or a replacement of any Finance Offer previously made.

  • Lender: Any creditor or owner to whom we have presented a Lending Proposal.

  • Lending Proposal: A proposal presented by us to the Lender containing details of you and your finance needs.

  • ML Regulations: Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as may be updated or amended from time to time.

  • NACFB: National Association of Commercial Finance Brokers.

  • Parties: Us, the Broker, and you, the Client.

  • Permitted Recipients: The Parties to this Agreement.

  • Privacy Notice: A notice to you as required by UK Data Protection Legislation informing you how your Personal Data will be dealt with.

  • RAO: The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.

  • Regulated Agreement: An agreement between two parties, one of whom (the debtor) is an individual, and the other of whom (the creditor) is “any other person,” in which the creditor provides the debtor with credit not exceeding £25,000.

  • UK Data Protection: All applicable data protection and privacy legislation in force from time to time in the UK.

  • We, Our, Us: Moorgate Finance Limited registered in England and Wales (No.09250316).

  • You, Your: The Client.

INTERPRETATION

  1. A person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality).

  2. A reference to a Party includes third parties to which it has outsourced activities, agents, successors, and permitted assigns.

  3. A reference to a statute or statutory provision is a reference to it as amended, re-enacted, or updated. Subordinate legislation made under that statute is included.

  4. Any words following terms such as “including,” “include,” “in particular,” or similar expressions are illustrative and do not limit preceding terms.

  5. A reference to writing or written includes fax and email.

  6. Data Controller, Data Processor, and other related terms shall have the same meanings as in the Data Protection Legislation.

REGULATED CREDIT AGREEMENTS (LOAN OR HIRE PURCHASE) USED TO FINANCE MOTOR VEHICLES

For Regulated Agreements used for the finance of motor vehicles, we disclose the nature of Commission arrangements where applicable. This disclosure includes how Commission arrangements could affect our recommendations.

DOCUMENTATION FEES

Document and Option to Purchase Fees vary between Lenders. Details will be disclosed within your Finance Offer.

EARLY SETTLEMENT

All agreements are subject to early settlement charges. These differ depending on whether the agreement is regulated or non-regulated. Full details can be found within each lender's Terms & Conditions.

YOUR REPRESENTATIONS AND ACKNOWLEDGEMENTS

You represent and acknowledge that:

  • You have been advised to seek independent advice before signing any Financial Agreement.

  • We source Lending Proposals from a panel of lenders, which will be supplied upon request.

  • You are aware that Lenders may undertake a credit search to assess your credit history.

  • You are aware we may receive commission from a Lender for introducing you to them.

  • You have read and agree to the terms and conditions of this Agreement and wish to proceed.

You also agree to act with the utmost good faith in providing accurate information to enable us to complete the Lending Proposal.

RENEWAL OF THIS AGREEMENT

This Agreement is for six months or until you enter into a Finance Agreement with a Lender. You may request renewal if required.

TERMINATION OF THIS AGREEMENT

Either Party may terminate this Agreement with 30 days’ notice. We may terminate immediately under specific circumstances, including breaches or false information.

DATA PROTECTION

We comply with all applicable Data Protection Legislation. Personal Data is handled as outlined in our Privacy Notice, available at https://pinksassetfinance.com.

MISCELLANEOUS

This Agreement is governed by English Law, and disputes are subject to the exclusive jurisdiction of English Courts.