Terms of Business

Business Helpline, Gable House, 239 Regents Park Road, London, N3 3LF (THE BROKER)

Defined terms

The AgreementMeans the Agreement by and between The Broker and The Client, that comprises these terms and conditions
CompletionThe date any Finance Agreement with a Lender becomes effective following a Lending Proposal
Credit Broking ServicesThe Services Which We provide to You under this Agreement
CommissionA sum of money paid upon completion to The Broker
Commencement of this AgreementThe date on which We commence providing Credit Broking to You
Confirmation of InstructionA confirmation that You instruct the Broker to engage with Brokering services via email, phone or letter
Fee, FeesThe Appraisal Fee, the Broker Arrangement Fee or the Renewal Fee as the case may be
Financial Conduct AuthorityThe conduct regulator for financial services firms and financial markets in the UK and the prudential supervisor (FCA Number: 670648)
Finance AgreementA loan, lease, credit or hire agreement
Finance OfferA written offer setting out proposed terms of finance issued by a Lender
Financial Services RegisterThe register helps consumers to confirm the authenticity and contact details of regulated financial services firms
Lender, LendersAny lender to whom the Lending Proposal is presented
Lending ProposalThe proposal prepared by us setting out your requirements for a finance offer
Loan AmountThe sum of any amounts payable by a lender to you
Parties to The AgreementA party to a contract is one who holds the obligations and receives the benefits of a legally binding agreement
Privacy NoticeThe notice provided to you about how we process your personal data
ContractA written agreement that is intended to be enforceable by law
Funding StructureThe mix of debt and equity that a company uses to finance its operations
The CodeThe Code of practice of the National Association of Commercial Finance Brokers
The BrokerBusiness Helpline / Money Advice Direct Limited - 03245896
The OmbudsmanThe Financial Ombudsman Service, Exchange Tower, London, E14 9SR
The Regulated Activities OrderThe Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
Unsecured LendingA loan that is issued and supported only by the borrower's creditworthiness, rather than by any type of collateral
We, Our, UsThe Broker as referred to above
You, YourThe Client as referred to above

1. Appointment of the Broker

1.1 This document sets out how We will deal with You in the provision of Credit Broking Services.

2. Standards Statement

2.1 Business Helpline / Money Advice Direct Limited is Authorised and Regulated by the Financial Conduct Authority 670648, and is an authorised Credit Broker. We work with a panel of Lenders. Our authorisations and permitted activities can be viewed on the Financial Services Register by visiting the FCA’s website: https://register.fca.org.uk/.

2.2 Business Helpline / Money Advice Direct Limited is a member of the National Association of Commercial Finance Brokers (NACFB). We adopt a strict Code of Practice and Minimum Standards set by the Association. You can check Our membership status by contacting the NACFB on the below link: https://www.nacfb.org/.

3. Client Acknowledgement

You acknowledge that:

3.1 Where necessary You will seek separate independent advice before signing any finance agreement.

3.2 We source Lending Proposals from a panel of lenders whose details will be supplied upon request. In this role, We are doing no more than effecting an introduction between You and the Lender(s) to enable You to choose a Finance Product which, in your sole opinion, is suitable for You. We are not Your agent or otherwise acting on Your behalf, and there is no duty upon Us to provide You with impartial advice, information or any recommendation relating to a Finance Product.

3.3 We will receive Commission from the Lender for any successful Finance Agreement. We will not know the value of any Commission until we have a Finance Offer. You can request details of any Commission as soon as we have a Finance Offer.

3.4 You have read The Brokers terms and conditions set out below and agree that they form part of this agreement.

3.5 You agree to act in good faith in the provision of information to Us. The duty is continuous and applies to all the information You provide whether We have asked for it or whether You have provided it voluntarily. You agree not to withhold relevant information from Us.

3.6 You agree to take all reasonable steps and use best endeavours to comply with and satisfy any condition imposed by the Lender who has made a Finance Offer.

3.7 You agree to notify Us if at any time You appoint an additional or alternate Broker. As such We will be entitled to terminate this Agreement.

3.8 If You fail to notify Us that You intend to appoint an alternate or additional Broker or intermediary and if We obtain a Finance Offer from any Lender. You agree that We will be solely responsible for processing that Finance Offer with that Lender should you proceed. If You fail to do so You will be responsible for paying our Commission as set out in the Finance Offer.

Brokers Terms and Conditions

4. Introductory Commission

4.1 We do not charge you a fee for our broking services, so our income is from the lender when agreements are taken out. This is how we pay fixed and variable overheads including compliance and insurance services. Different Lenders pay different amounts. For transparency we work with the following commission models: fixed fee, fixed rate or a percentage of the amount you borrow.

4.2 Lenders set a maximum interest rate for your agreement and we have a limited amount of discretion to offer a rate lower than this. Under some commission models we operate under, the more you pay the Lender the more we may receive by way of commission. If we set a lower rate than the maximum, we earn less commission. These arrangements affect the total amount payable under the agreement and help to ensure that the commission we earn fairly reflects the work we will carry out to meet your requirements.

4.3 When a finance request has been referred to us by a 3rd Party Introducer or a Supplier, the Introducers or Suppliers may receive a fee from Business Helpline / Money Advice Direct Limited. This is taken out of Our commission received from the Lender.

4.4 Utilising our knowledge of the market and our approach to broking, we consider we have found a competitive and suitable finance solution. We, however, cannot guarantee that we have found the best or the most suitable deal that might be available to you from any Lender in the market.

5. Termination

5.1 The Broker or the Client may terminate the Agreement by giving 14 days written notice.

6. National Association of Commercial Finance Brokers – The Code

6.1 The Broker agrees to act on behalf of the Client in accordance with the terms of the Code of Practice of the National Association of Commercial Finance Brokers (NACFB) as amended (the Code) and a copy of the Code is available on request from the Association or on the NACFB website www.nacfb.org.

6.2 In the unlikely event that you have a complaint about the service provided by Business Helpline / Money Advice Direct Limited, please contact us:

6.3 The Broker will investigate and deal with any complaints raised by The Client concerning the services provided under the Agreement promptly and reasonably but if The Broker is unable to resolve any complaint to The Client’s satisfaction the Code of Practice stipulates the procedures available to The Client including NACFB Mediation.

6.4 If The Client is unhappy with The Broker’s response to their complaint, and the complainant falls within the regulated activities, they may be able to complain to the Financial Ombudsman Service at:

6.5 The Ombudsman will be able to confirm whether he can look at the complaint. If The Client is entitled to make a complaint to the Ombudsman, then they are not bound to follow any alternative procedure and can make their complaint to the Ombudsman within the timescales set down by the rules applicable to that scheme, details of which will be provided to the Client by Us on request.

7. Consumer Duty

7.1 Business Helpline / Money Advice Direct Limited is bound by the principals of Consumer Duty as set out by the Financial Conduct Authority. This ensures we aim to deliver good outcomes for retail customers. These outcomes relate to:

  • Products & services
  • Price & value
  • Consumer understanding
  • Consumer support

We will consider the needs, characteristics & objectives of their customers and aim to deliver good customer outcomes at every stage of a Financial Agreement. We will also aim to evidence whether these outcomes are being met via random customer surveys and service agreement reviews.

8. Privacy Notice and Data Protection

8.1 A Privacy Notice has been issued separately from the Terms of Business. Being transparent and providing accessible information to individuals about how We will use Your personal data is a key element of the EU General Data Protection Regulation (GDPR).

8.2 Our Privacy Notice may change at any time in the future – we will keep it up-to-date on our website for you to access at any time: Privacy Policy.

8.3 If you have not received or seen the Privacy Notice, contact us before signing to this Agreement.

8.4 If an application requires personal credit checks to be run, you will be asked to complete a Consent Form. By signing this form, you consent to how we use your data as outlined in our Privacy Policy, and that we may share your personal data with third parties listed within our Privacy Policy. Your agreement to the Consent Form permits these third parties to conduct personal credit checks on you and any other individuals named in the form.

8.5 Each of our Lenders have their own internal processes when conducting credit searches. As such, Business Helpline / Money Advice Direct Limited cannot guarantee whether these checks will occur before or after a lending decision is made.

8.6 If your application is approved and you accept the Lender’s offer, the Lender will continue with their internal procedures. The completion of this offer is subject to final deal-critical checks which vary by lender. If these checks are not satisfied, the payout maybe delayed or withdrawn entirely. While Business Helpline / Money Advice Direct Limited makes every effort to ensure all preliminary checks are completed, we do not have control over the final payout decisions made by the Lender.

9. Assignments and third-party rights

9.1 This agreement is personal to the Client and a person who is not a party to this agreement may not enforce any of its terms under the Contracts (Rights of Third Parties) Act 1999.

10. Professional Indemnity

10.1 The Broker will maintain professional indemnity insurance cover in respect of its business with and on standard terms offered by reputable insurers.

11. Exclusions

11.1 The Client accepts that the Broker shall have no liability for any economic loss (whether direct, indirect or consequential) insofar as it relates in any way to loss of business, loss of Client data, interruption of business or loss of profits or goodwill because of the manner of performance by The Broker of any obligations arising under the agreement. This exclusion of liability will not, however, otherwise affect any statutory rights of The Client.

12. Choice of Law

12.1 The Agreement shall be construed in accordance with English Law and the parties irrevocably agree to submit to the exclusive jurisdiction of the English Courts.

Business Helpline / Money Advice Direct Limited will receive a commission from the Lender for placing this funding. Where applicable, a 3rd party Introducer/Supplier may receive a fee for referring this application requirement. This fee will be taken out of the commission Business Helpline / Money Advice Direct Limited receive.