Terms of Business

The Financial Services Authority (FSA)

You should be aware that foreign mortgages do not fall within the regulatory responsibilities of the Financial Services Authority (FSA).  This means that if you choose to take up a foreign mortgage (via any broker or lender) you will not have the means of redress offered by regulated mortgage contracts in the event that you have a complaint.

However, if your request requires us to look at UK mortgage advice then our sister company Simplicity Financial Services would be used.  Simplicity Financial Services is authorised and regulated by the Financial Services Authority (Firm reference number 412774). This may be checked by visiting www.fsa.gov.uk/register

Whose mortgages do we offer?

We offer mortgages from every available lender in Bulgaria actively lending to foreigners. Via Simplicity Financial Services we offer whole of market UK mortgage advice.

Which Service will we provide you with?

We offer full advice and recommendation service in all cases in order that we can give you an informed decision on the choice of your new mortgage.  We will also provide you with information relevant to your mortgage needs, covering such items as an explanation of the main repayment methods and the implications of taking out a mortgage.

What will you have to pay us for this service?

An initial engagement fee of £200 is payable by you on giving us your authority to act on your behalf.  If we are unable to obtain a solution for you (in Bulgaria or UK) based on the information that you supplied, a full refund of the £200 initial engagement fee will be made.  If you decide not to proceed prior to BulgarianHomeLoans.Com Ltd finding a solution, this fee is not refundable.

A fee of £400 is payable on full application.  This fee is non refundable if the mortgage does not proceed as it is for our administration and costs associated with processing your mortgage and not completing it.  BulgarianHomeLoans.Com Ltd cannot be held responsible if a property is down valued.

A completion fee of 0.5% of the loan amount (minimum £200) is payable immediately prior to completion.  This fee will be refunded if completion does not then take place.

WE CANNOT OFFER A REFUND IF THE MORTGAGE DOES NOT COMPLETE DUE TO THE LENGTH OF TIME THAT THE APPLICATION TAKES, WE WILL DO OUR BEST TO EXPEDITE YOUR APPLICATION BUT MUCH OF THE PROCESS IS RELIANT ON 3RD PARTIES WHICH WE HAVE LITTLE CONTROL OVER.

Tax

We do not provide advice on tax matters relating to foreign property purchase, or taxation queries for foreign countries.  We could recommend a specialist tax adviser in Bulgaria who is qualified to provide this advice.

Currency Exchange

The currency exchange service is on a referral only basis.  No advice is given as to the appropriate time to purchase a particular currency.  Information on rates available at the time will be supplied for you to choose when you make your foreign currency purchase.  Currency Exchange is regulated by Customs & Excise.  We refer our currency exchange business to TTT MoneyCorp Ltd.

What if you have a complaint?

Our aim is to provide you with a first class professional service and should a complaint arise, in the first instance, you should contact the Compliance Officer;

In writing to:              
BulgarianHomeLoans.Com Ltd,
Nursery Works,
100 Little London Road,
Sheffield,
South Yorkshire,
S8 0UJ,
England

By Email to:   info@bulgarianhomeloans.com

We will treat all your personal information as private and confidential (even when you are no longer a customer) except where we are permitted by law or where the disclosure is made at your request or with your consent in relation to arranging a mortgage.

Data Protection

In order to provide you with advice our advisers will need to collect information about you, which they will hold as Data Controllers under the Data Protection Act 1998.  Our advisers will use these details to understand your needs and preferences so that they can tailor their advice to your particular circumstances.  This will either be in response to your specific request for advice or, generally, to keep you informed about financial services and products, which they feel may be of interest to you.  For this purpose, they may want to contact you by letter, phone, e-mail, fax, text or in person, and you will be asked for your consent for them to do this.  You will also be asked for your consent to allow your introducer / sales agent / developer (where applicable) to receive information regarding the progress of your application.

Your details may have to be passed to another of our advisers so that you can continue to receive advice, for example if your adviser is ill or stops being your adviser or for the processing of your mortgage in our Bulgarian office.

Any personal details given to us may need to be retained for record purposes, even if you do not apply for any mortgage or plans.

You have the right to see the personal data (as defined by the Act) that is held about you.  You can ask us not to contact you about other products and services and you can ask us to correct your details if they are wrong.  If you would like to exercise any of your rights under the Act you should contact out Data Protection Officer in writing at BulgarianHomeLoans.Com Ltd, Nursery Works, 100 Little London Road, Sheffield, South Yorkshire, S8 0UJ, England.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

BE SURE YOU CAN AFFORD THE REPAYMENTS BEFORE ENTERING INTO ANY CREDIT AGREEMENT. ANY QUOTATION SUPPLIED IS NOT AN OFFER OF A MORTGAGE.

THE STERLING EQUIVALENT OF YOUR LIABILITY UNDER A FOREIGN CURRENCY MORTGAGE MAY BE INCREASED BY EXCHANGE RATE MOVEMENTS.

BULGARIANHOMELOANS.COM LTD CAN NOT ACCEPT RESPONSIBILITY FOR DECISIONS MADE BY ANY OF OUR LENDERS OR ANY PRODUCT CHANGES THAT THEY MAY MAKE.