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  • LETTER OF ENGAGEMENT

    MORTGAGE CAPACITY ASSESSMENT
    1. This agreement (referred to as this "Agreement" or "Letter of Engagement" herein) sets out the basis on which we charge for our services.
    2. This document will confirm the terms of our recent conversation regarding the mortgage capacity assessment services we provide. 
    3. As a first step, the client or legal representation will provide complete and up-to-date information of their personal and financial circumstances. This may be completion of forms(s) we provide, a Form E or verbal discussions.
    4. The client or legal representation shall provide to the Firm such information as the Firm shall request to enable the Firm to provide the information requested.
    5. The Firm shall provide to the client or legal representation the following service ("the service"): Provision of a Mortgage Capacity Assessment Report
    6. We are not authorised or qualified to give legal advice or to prepare legal documents for you.
    7. Our initial charge will be invoiced when the report is completed, but prior to issuing the report; and is charged to meet the costs of gathering information, researching and writing the report.              
    8.  If our agreed fee is not paid by the due date, we reserve the right to take reasonable steps to recover the outstanding amount. This may include engaging a debt collection agency or initiating legal action. In such cases, you will be liable for all additional costs incurred in the recovery process, including but not limited to legal fees, collection agency charges, and administrative costs. Continued non-payment may also result in the suspension or termination of our services.
    9. Should further work be required following production of our report, which may include (but is not limited to) amendments to the report, additional scenarios in the report or our attendance at any meetings or proceedings, either with or without legal professionals involved; this will be chargeable at £100 per hour. Where practicable an estimate of costs to be incurred will be provided, however in some cases this is not possible and a final invoice on completion will be issued.
    10. This Letter of Engagement will continue until terminated, by notice given in writing by either you or us. Termination shall take place without penalty, subject to any outstanding fees being paid. All monies received up to this point will remain the property of the firm.
    11. This Agreement shall terminate automatically, following conclusion of our work.
    12. If you understand the above terms and agree to them, please sign this Letter of Engagement, and retain a copy for yourself.
    13. You shall not be entitled to assign or transfer the benefit of this Agreement.
    14. Any notice to be given under this Agreement shall be in writing and shall be deemed to have been duly given if left or sent by email or post. Notice will not be accepted verbally.
    15. The validity, construction and performance of this Agreement shall be governed by English Law.
    16. Save where with reasonable foresight the breach could have been avoided, neither party shall be liable to the other for any loss or damage outside the reasonable control of both parties.
    17. We are a VAT exempt company, and therefore there is no VAT chargeable at this stage.
    18. Nothing in this Agreement shall exclude or restrict any duty or liability we may have to you under the regulatory system.  To the extent that provisions in this Agreement are found to be unenforceable, this Agreement shall take effect as if such terms had been deleted.
    19. The report will be compiled using various research tools. The firm cannot be held responsible if a mortgage is later unobtainable by the individual in question due to criteria changes by lenders in the future or factors which later come to light.
    20. The figures quoted are subject to satisfactory credit score, lender verification of the income and expenditure, suitability and valuation of the property in question & any other information that may be required.
    21. The figures quoted are not guaranteed and no lender underwriting has taken place.
    22. We recommend that an Agreement in Principle is obtained to further the individuals search for a suitable mortgage in future.

  • I/We have read the above Terms of Business and are aware ofthe services to be provided and, if relevant, the costs payable and the amount and timing of these. Having read the document, I/we agree to engage with J Finance Ltd.

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