We are a small, independent mortgage brokers with over 20 years experience in the business. We are a family run firm with Barry starting the business with his wife, Dee, in 1997.

Our head office is based in Shaftesbury, Dorset and in the last few years we have expanded to have a broker based in Salisbury, Wiltshire. We look to expand further afield in the future, although already offer impartial mortgage advice to people all over England.

Commercial Terms of Business Agreement

This is an agreement between: 

The Mortgage Exchange, 1 Bell Street Shaftesbury, Dorset, SP7 8AR 


The Mortgage Exchange who are authorised and regulated by the FCA (Financial Conduct Authority), registration number 301029. 
You can confirm this and our own company's details on the FCA's website http://www.fca.org.uk/register or by contacting the FCA on 0800 111 6768. 
We will look at the majority of the lenders available to us in the market place to find you the most competitive and suitable Business Buy to Let Mortgage, Commercial and Development finance and Bridging finance. In addition, we have access to a range of insurers so we can advise and assist you with property insurance so that you have peace of mind that you are covered.
We can also refer you to other parts of our business who can help you with a wide range of other mortgages and insurance, including Residential Mortgages, Life and Critical Illness and Income Protection. 

Services and Fees 

Mortgage - Initial Evaluation Stage:  

No charge 

  • We will consider your financial circumstances and requirements then provide you with information on the most competitive lenders and product options suited to you for your property purchase;
  • We will provide you with an illustration to outline in writing all the features and costs associated with any mortgage we recommend;
  • We will arrange an initial decision in principle with the recommended lender. This means the lender confirms they are willing to lend subject to receipt of a satisfactory valuation and supporting application documentation;
  • If required, we will make a recommendation to you of a competitive solicitor to facilitate the legal work required for your property purchase

Mortgage - Application Processing Stage:  

Fee of £200 payable with your application  

  • On receipt of your application fee we will start the process by completing the application form and putting it together with any other documentation required by the lender and then submit to them on your behalf;
  • We will communicate to you, in a timely fashion, any supporting information the lender requires in conjunction with your application;
  • We will check documentation you supply is consistent with the expectations and requirements of the lender;
  • We will ensure the lender application is monitored and is progressing, for example checking that valuations are instructed and lenders are working within their published timescales;
  • We will update you fully on the progress of the application until the lender issues the formal mortgage offer.

Mortgage - Offer Stage:  

Typical fee of £495 payable on production of a mortgage offer/facility letter 

  • We will check the mortgage offer to ensure it is correct. At this point our offer fee, for successfully securing you the lender offer, becomes payable;
  • We will assist you if required with meeting any offer conditions such as arranging property insurance;
  • We will liaise with your legal representative to ensure they have received a copy of the offer and assist them where needed;
  • We will liaise with the lender if any offer amendments are needed, for example if there is a change to the purchase price or mortgage amount required;
  • We will continue to monitor and assist with your application until your purchase is successfully completed. 

Insurance – Advising and Arranging:  

No charge 

  • We do not charge a fee for advising and arranging insurance policies. We will receive commission from the Insurer we place your business with.


It is our intention to provide you with a high level of customer service at all times. If there is an occasion when we do not meet these standards and you wish to register a complaint please contact us by writing to: The Mortgage Exchange, 1 Bell Street, Shaftesbury, SP7 8AR. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service www.financial-ombudsman.org.uk 

Instruction to Proceed 

Please sign this document to confirm you would like to proceed with our services. Where we recommend a product from a lender who wishes to deal directly with you or you chose yourself to deal directly with a lender we have recommended, our fees as detailed on page 1 and 2 still apply. Where speed is required, we will consider accepting your verbal instructions to proceed and in this circumstance you understand that instructing us to proceed is your acceptance of these terms and conditions. 

Data Protection 

We will store and use any personal information about you to fulfil your instructions and in accordance with the Data Protection Act 1998 ("the Act").  This information may be made available to certain third parties such as regulatory authorities and our auditors who may also be bound by the Act.  If you have been introduced to us by a third party, we will keep private from the third party all personal information, although we may provide to them updates on the progress of your application unless you specifically request us not to. 

Following completion of your mortgage, and to ensure we can assist and maintain your financial borrowings on the most competitive terms, we need your permission to contact you in the future. Please select which method of contact you wish us to use. Please note this permission relates only to The Mortgage Exchange and relates to your borrowings and any associated insurance as set up by the company.  

If you wish us to review your ongoing financial needs please indicate at least one contact method inserting your email, or phone numbers as appropriate. 


Restrictions and Legal Jurisdiction 

Please be aware that the FCA does not regulate most Buy to Let, Commercial and Overseas Mortgages or development finance and bridging finance. Where they do fall under regulation we will notify you of that fact.  We are committed however to providing the same high standards even when dealing with your requirements for non-regulated products. This agreement will be governed by and construed in accordance with the laws of England and Wales and any dispute will be subject to the exclusive jurisdiction of the courts of England and Wales. 

Payment of Fees 

Payable by cash, transfer or cheque.  

We reserve the right to charge interest at the rate of 8% per annum for any amounts due to us which remain unpaid after the due date. 

Are we covered by the Financial Services Compensation Scheme (FSCS) 

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. Insurance advising and arranging is covered for 90% of the claim, without any upper limit. Regulated Mortgage advising and arranging is covered up to a maximum limit of £50,000. 

The FSCS does not cover most forms of Buy to Let, Commercial Lending, Development lending or Bridging. 


I/we understand and agree to the terms and conditions and information outlined in this document and I/we wish to proceed with instructing The Mortgage Exchange to assist me/us with my/our mortgage or loan and/or insurance requirements. 

I/we understand that when The Mortgage Exchange approach a lender on my behalf for an application or a decision in principle that the lender may undertake a credit search.  I/we agree and understand that the credit search will be performed to determine my/our credit worthiness for any loan and that the details of this search will form a permanent part of my/or credit record.  I/we also understand that repeated searches of this nature can have an adverse effect on my/our credit record. 

I/we give our authority for The Mortgage Exchange to provide progress updates to the person or company that introduced us to The Mortgage Exchange where applicable or to the Estate/Property Agent who is selling the property. 

If for any reason our fee is not paid before completion of the loan, I/we give my/our irrevocable authority for our solicitor to deduct the fee from the completion funds and forward this directly to Trinity Specialist Finance. 

I/we understand as part of the underwriting process, the mortgage or loan provider and/or Connect IFA Ltd and or The Mortgage Exchange may need to contact third party institutions such as your current or previous employers, mortgage providers, accountants, banks and the Inland Revenue to confirm the completeness and accuracy of any information supplied in relation to my/our mortgage application. I/we understand and authorise such enquiries. 

Data Protection Act Declaration 

This is to authorise the nominated lender for The Mortgage Exchange to make such enquiries and searches about us and any person connected with the business (including, in the case of a corporate application the company’s officers signing this authority), as you consider necessary from any person including any credit reference agency. These searches will be recorded by the agency and will be seen by other organisations that make searches. 

It is important that you give us accurate information. The nominated lender will check your details with Fraud Prevention agencies and if you provide false or inaccurate information and they suspect fraud they will record this. 

Your records will be shared with other organisations and used by them to help make decisions about credit for you and members of your household.  The nominated lender, the credit agencies and fraud prevention agencies will us your records for statistical analysis about credit, insurance and fraud. 

Fraud prevention records will also be shared with other organisations to help make decisions on motor, household, credit, life and other proposals and insurance claims, for you and members of your household. 

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Signed by Barry Fitzgerald
Signed On: 05/03/2018

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Document name: Commercial Terms of Business Agreement
lock iconUnique Document ID: 2430d023ccee32e2b157848039557b8654021359
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01/03/2018 10:18 BSTCommercial Terms of Business Agreement Uploaded by Barry Fitzgerald - barry@themortgageexchange.co.uk IP

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