Disclosure

Introduction 

The purpose of this Disclosure is to explain who we are, what we do and how we’ll work with you, including our services, how we get paid, how we process your data, and what to do if you’d like to make a complaint. It’s important that you read and understand this document.  

The term ‘Funding Friends’ (or ‘us’, ‘we’, ‘our’) refers to the owner of the service. 

The term ‘you’ or ‘your’ refers to the user of the service.  

Who we are 

Funding Friends Limited is registered in England and Wales (Company No. 12693505) and has its Registered Office at Office 4, 219 Kensington High Street, Kensington, London, W8 6BD.   

Funding Friends Limited is registered with the Information Commissioner’s Office (reference number ZA794106). 

Provision of services 

1).What products do we offer? 

We broker a wide range of commercial financial products including: 

Property related products: Bridging Loans, Buy-to-Let, Commercial Investment Property loans, Commercial Property Mortgages, Development Finance, HMO Funding, Holiday Let Funding, Property Refurbishment Loans, Auction Property Funding. 

Day-to-day business finance: Invoice Finance, Merchant Advance, Unsecured Busines Loans, Working Capital Loans, Trade Finance, Tax Loans 

Asset Finance: Finance Leases, Operating Leases, Hire Purchase 

Government backed loans: CBILS, Bounce Back loans, Recovery Loan scheme etc. 

Specialist funding: MBO Finance, Pension loans, Private Equity raising, Venture Finance Loans, Structured Debt, Asset Based Lending, Cashflow multiple loans. 

We do not provide personal finance brokering or advice, however we do work with other brokers who we will refer you to if you need personal mortgages and insurance. 

We do not directly provide finance or financial or insurance products. 

2) Whose products do we offer? 

We work with a limited number of lenders, primarily because not all lenders work with brokers like Funding Friends. We can provide you with details of who we are currently working with and if you want us to engage a lender that is not listed we can do so. If the lender is not open to working with Us we will let you know. You are welcome to approach lenders directly but may not be able to access the terms and products available to Us. 

3) Which service will we provide you? 

We will advise and make a recommendation for you after we have assessed your needs and it is your choice to proceed with this recommendation. You are not obliged to act on anything we say nor take any products or services we recommend. 

We do not work with every lender and service provider in the market, primarily because some lenders and service companies do not work with brokerage business like Funding Friends Ltd. 

When we recommend a product or service it is not guaranteed to be the cheapest, because the market for products is vast and changes constantly, we will recommend a product where we both have a relationship with the lender and understand how they operate and where the product or service meets your needs. If there are several products or services we will tell you and you can choose which one you’d like to progress with. 

The best fit product does not mean the cheapest. You may be able to find products advertised at lower headline rates, particularly teaser interest rates, teaser loan-to-value rates and teaser speed of delivery standards – however when you come to apply for the product these often are not available. We find that when you engage with a lender and get into the detail of an application, lenders have quirks in their policies that may or may not be disclosed to the public which may well preclude the product from being offered, or mean that the product is offered at a higher rate or takes a lot longer to be delivered. Our experience of these behind-the-scenes realities can mean we recommend a product based on real-life ability to deliver the product or service in the quantum or speed you want. 

You should read the information provided by us and any third party (for example lenders) carefully. If you have questions on suitability you should refer to your accountant, solicitor and other professional advisers before you proceed. 

Our normal working hours for the provision of our services are 9am – 5pm Monday to Friday. If you have made an enquiry with us that we believe we are able to progress you will be assigned a Funding Friend to manage your case and they will normally be your main point of contact throughout the lending process and thereafter. You can also contact us by email on hello@fundingfriends.co.uk. 

There are many factors that mean our response times can vary and we make no guarantee as to the availability or response time of the service, and we have the right to withdraw provision of services at any time. 

4) What will you have to pay us for our service? 

4.1 We will normally charge youfor the provision of our services. We’ll normally have a broad initial conversation for free, but if you want us to spend time and effort on your proposal and complete an initial assessment and engage with lenders we will normally charge an initial assessment fee. 

    4.2 Where we believe we can source the product or service you require we will issue a Terms of Business Letter which sets out what we are expecting to do for you and how much we expect to charge. 

      4.3 If we believe there is work to shape your proposal into a format that is ready to find funding we may charge you an Appraisal Fee which covers the cost of our work before we engage with lenders. This fee can vary and is tailored to the amount of work required. You are not obliged to accept our terms and conditions, nor take any product or service we identify for you, however we will only proceed on receipt of the signed terms and conditions document and the initial assessment fee. 

        4.4 If we successfully source the funding or services you require, we may charge you an Offer Fee at point of offer from the lender, this will be payable whether you decide to proceed or not because we will have undertaken significant work to get the offer for you. 

          4.5 Where a product or service is taken up from a provider we will normally charge a Success Fee which will be payable within 14 days of the date of the Finance offer.  

            4.6 We may receive Commission from the Lender as well as receiving Fees separately from You; for the avoidance of doubt these sums are subject to the terms of Our arrangements with the Lender who pays that Commission.  

              4.7 You are aware that We are required to disclose the nature of Commission in Our communications, as well as when making a recommendation to You. The existence and nature of Commission arrangements where the Commission varies depending on the Lender, product or other permissible factors will always be disclosed. The disclosure will also cover how the arrangements could affect Our recommendations to You. Such disclosures will be made in Our Statement of Suitability issued to You. 

              5) Who we are

              5.1 Funding Friends” is a trading style of Funding Friends Limitedregistered at Office 4, 219 Kensington High Street, Kensington, London, England, W8 6BD.  

              5.2 Our Company Registration number is 12693505. 

              5.3 We work with Appointed Representatives who may be individuals or companies who are authorised by Us to act on Our behalf in the provision of Our brokerage services. 

              5.4 We are a broker, not a lender. 

              6) Who regulates us?  

              Funding Friends Limited is authorised and regulated by the Financial Conduct Authority (FCA) and we are 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 here: https://www.nacfb.org 

              7) What to do if you have a complaint? 

              If you wish to register a complaint, please contact us either 

              • By post: Funding Friends Limited, Office 4, 219 Kensington High Street, Kensington, London, England, W8 6BD 
              • By email: hello@fundingfriends.co.uk  

              You can find our complaints procedure on our website fundingfriends.co.uk/complaints. 

              If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. 

              Address: Financial Ombudsman Service, Exchange Tower, London, E14 9SR. 

              Contact: 0800 0234567, 0300 1239123. Website: www.financial-ombudsman.org.uk  

              Your Consent  

              • We take your continuing use of our service as your consent to our terms of business as outlined in this document and as issued to you when you engage with us. 
              • If you do not consent to these terms please notify us immediately and we will stop providing our services.  
              • For your own benefit and protection you should read any terms and conditions issued by us or third parties carefully. If you do not understand any point please ask for further information or consult your advisors. 

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