Terms

Legal & Valuation Terms and Conditions

Basis of proposed Legal and Surveyor Fee Reimbursement (‘Offer’)

 

Terms & Conditions

 

1. These Terms and Conditions apply between GFS 1 Limited and all affiliated entities corporately known as “Glenhawk” (“The Lender”) and you, the “Borrower”, in respect of the Offer and shall apply in all instances, unless specifically amended in writing.

 

2. Glenhawk shall refund to the Borrower, the Lender’s legal fee and cost incurred for undertaking the surveyor(s) not exceeding in total the sum of £5,000 (excluding VAT) (“Reimbursement”) in so far as such legal and surveyor’s fees have been directly incurred by the Borrower in connection with the Borrower’s completion of a secured unregulated mortgage with Glenhawk (“Mortgage”).

 

3. The Reimbursement shall be of the Lender’s legal fee and surveyor’s fees actually incurred and may therefore be less than £5,000 where the sum actually incurred is less than this sum. Glenhawk shall not be liable to refund any legal and surveyor fees in excess of the sum of £5,000 (excluding VAT).

 

4. Glenhawk’s agreement to make Reimbursement arises only upon:

 

a. the Borrower’s solicitors confirming to Glenhawk the drawdown of the Mortgage and its completion,

b. Glenhawk receiving an undertaking from such solicitors to register a charge in Glenhawk’s favour at HM Land Registry and

c. upon production of such evidence as Glenhawk may require as to the legal and surveyor’s fees actually incurred by the Borrower.

 

5. The Offer shall apply to new loan enquiries received on or after 13:00hrs on the 16 September 2018 where completion of the Mortgage arising from such enquiry occurs prior on or prior to 31 December 2018. Any loan request received before 13:00hrs on the 16 September 2018 will not qualify for the Offer.

 

6. Glenhawk reserves the right to withdraw the Offer at any time without giving notice.

 

7. If the Borrower fails to complete a Mortgage for whatever reason (including the Borrower’s failure to meeting Glenhawk’s underwriting/credit or other loan criteria) having incurred legal and/or surveyor’s fees, Glenhawk shall not be liable to refund such fees.

 

8. The Reimbursement shall be paid to the legal representative acting upon registration of the Mortgage at HM Land Registry within [30] days of completion of the Mortgage. Such legal representative shall be responsible for arranging payment to the Borrower’s solicitor. Glenhawk shall not make any payments directly to the Borrower.

 

9. These Terms and Conditions constitute the entire agreement between the parties in respect of the Offer and supersede and extinguish all previous agreements, and understandings between Glenhawk and the Borrower.

 

10.  If any part of these Terms and Conditions is unenforceable for any reason whatsoever, if such term or provision shall be divisible from the other terms and conditions, it shall be deemed to be deleted from them.

 

11. No one other than a party to this agreement shall have any right to enforce any of its terms.

 

12. These Terms and Conditions, and any dispute or claim arising out of or in connection with them or their subject matter or formation, shall be governed by and construed in accordance with the law of England and Wales. The courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms and Conditions or their subject matter or formation.