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Terms of Business – Product Transfer Experts

Terms of Business

Mortgage PTX Ltd is an Appointed Representative of City Finance Brokers Ltd who is Authorised and Regulated by the Financial Conduct Authority (the FCA).

Our Financial Services Register Number is 1008205.

You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 111 6768.

The FCA does not regulate some types of mortgages and loans, such as Buy to Let or Commercial Finance.

Mortgage PTX Ltd is a non-advised service only whose sole purpose is to access and provide information on your Product Transfer/Product Switch options with your existing lender(s) and, following your consent, to arrange and process the transfer(s) on your behalf.

Cashback will be paid to you following the completion of your transfer within 5 working days of receipt of the commission by Mortgage PTX Ltd.

Mortgage PTX Ltd gives no advice in respect of your product transfer options and if you require advice, then we encourage you to speak to an independent mortgage adviser.

For processing your transfer, we will receive commission from your lender, the amount of which will be disclosed to you in your mortgage illustration. We will then share a portion of this as your Cashback. We will never charge any additional fees.

Identification

To comply with Anti-Money Laundering Regulations (AMLR) we will need to verify your identity and by agreeing to these terms, you consent to us using electronic identity verification systems.

Complaint Handling

Mortgage PTX Ltd strives to provide excellent service and customer care. However, if something goes wrong, we are committed to handing complaints quickly and efficiently. If you wish to register a complaint, please contact us in writing to:

Compliance Officer,
Mortgage PTX Ltd/City Finance Brokers Ltd,
Tower 42,
25 Old Broad Street,
London. EC2N 1HN;

or by phone to 020 3950 2985.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4567.

Force Majeure

Mortgage PTX Ltd shall not be in breach of terms 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.

Law

These terms are governed and shall be construed in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English Courts.

Declaration

By agreeing to these terms, you confirm that I/we:

  • Are acting wholly or predominantly for business purposes and the property has been purchased with the sole intention of letting it out.  
  • Are not in breach of any of my/our existing mortgage terms and conditions, or missed/defaulted on any mortgage payments.
  • Do not require any restructure of my/our existing mortgage, such as increasing or reducing the loan size, altering the term or changing the repayment type.
  • Have been made aware that Buy to Let mortgages entered into by the way of business are not regulated by the FCA as a residential mortgage and therefore does not hold the additional level of consumer protection as for Consumer Buy to Let mortgages. 
  • Have been made aware that if I/we are in any doubt as to the consequences of this agreement not being regulated then I/we should seek independent legal advice.
  • That the information I/we have provided is an accurate reflection of my/our circumstances. 
  • Should seek separate legal and tax advice regarding our responsibilities of owning this type of property.  Please note our service does not consider the suitability of you purchasing a Buy to Let property for business purposes.

By ticking the relevant box on our website, you hereby consent to our Terms of Business.