Company Information:
Weston and Wellington Ltd is an independent property and financial consultancy company owned and operated by Paula ter Brake, Managing Partner.
Paula ter Brake is a property and financial services specialist with 15 years practical working experience, 14 of which have been spent in Ireland. Prior to establishing her own company, Paula worked in senior management positions and at board level in a number of financial institutions including KBC, IFG, permanent TSB, and GE where she retained a global management role up to 2007.
Home Brokers, a trading entity of Weston and Wellington Ltd provides property and financial intermediation to domestic clients. Following its establishment in early 2008, Home Brokers forged a name for itself by representing off plan purchasers and renegotiating their purchase contracts with property developers across Ireland and the UK.
In addition to contract negotiation, Home Brokers offers a range of financial and property services to clients including but not limited to:
- Property sourcing, negotiation, letting and management consultancy
- Buildings, Contents and Landlords Insurance
- Mortgages and Commercial Finance
- Life Assurance, Illness and Income Protection
- Debt Management
- Private Client Portfolio Management
Fees:
1. Retainer - €495.00 + vat @ 21% = €598.95
Important information regarding the payment of retainers:
The retainer payment is payable prior to commencement of any service and is non refundable. The retainer is not deducted from the final success fee.
2. Valuation Fee (if applicable) - €107.43 + vat @ 21% = €130.00
Important information regarding property valuations:
The valuation fee is only payable in the event a property valuation is required. The valuation will be instructed by Home Brokers with a valuer operating within a 25 km radius of the property. Where possible and/or applicable we will rely on the valuation completed by your mortgage lender and or instruct a valuer who in addition to the following criteria is on your mortgage lenders valuation panel. The valuer will be required to be suitably qualified; being a member of at least one of the industry bodies listed below with adequate Professional Indemnity Insurance:
· IAVI, IPAV, SCS, RIAI, IEI, ACEI, CIOB, IBCI, CIAT
3. Success Fee - Subject to vat @ 21%
Important information regarding the calculation of and payment of success fees:
Success Fees are payable in addition to the retainer. Success fees are charged where negotiations result in a price discount off the advertised asking price or the price that you have already negotiated directly, whichever is the lower. Success fees are charged at a minimum of €1,600.00 + vat. Success fees will be invoiced when you pay your booking deposit or are in receipt of a contract revision. The success fee is payable within 30 days, irrespective of whether the sale has formally concluded or not. For sums due over €1,600.00 we may agree to payment terms over 3 months.
The success fee is calculated as a percentage of the discount secured. We will through through the various percentages when we conduct our intial consulation, which is complimentary. If a price discount is secured and the property sale falls through for any reason the success fee remains payable but is capped at €1,600.00 + vat. We will continue to deliver service on an alternative property and in the event a second property is booked and a further discount secured the success fee will be calculated on the higher of the two discounts secured less the €1,600.00 + vat already paid.
Standard Conditions of Service
1. Interpretation:
In these conditions of service:
"Supplier" means Weston and Wellington Ltd t/a Home Brokers of Cian House, 1 Cian Park, Drumcondra, Dublin 9.
"Customer" or “Client” means the person who purchases the Services.
"Services" means any of the services described herein.
Any business undertaken by the Supplier with the Customer is transacted subject to the terms and conditions hereinafter set out.
2 Performance Dates:
The Supplier shall use reasonable efforts to meet any stated dates for performance but shall not be liable (in contract, negligence or otherwise) for any loss or damage resulting from its failure to do so, howsoever caused.
3. Payment Terms:
The initial consultation is free of charge. The retainer is payable upfront and is non refundable. There is no guarantee of success however we will continue to work with you on your project until we agree we have exhausted all avenues. The success fee is payable upon completion of price negotiations, irrespective of whether you conclude the transaction or not.
4. Expenses:
Unless expressly quoted as including all expenses, all prices are exclusive of the Supplier's reasonable out-of-pocket expenses in providing the Services. The Customer shall reimburse the Supplier for such expenses, subject to the Supplier properly vouching for them.
5. VAT:
Unless expressly quoted as including VAT at 21%, all prices are exclusive of value added tax or any other government taxes or duties which, if applicable, shall be paid by the Customer.
6. Time of Invoice:
Unless otherwise agreed in writing, the Supplier may invoice the Customer at regular intervals with a final invoice upon completion of the Services.
7. No Deductions:
The Customer shall make all payments in Euros, without set-off or counterclaim and free and clear of all taxes, deductions, withholdings and other charges.
8. Interest:
The Customer shall pay to the Supplier interest on any overdue amount at a rate of 5% per annum above the refinancing base rate of the European Central Bank, from the due date for payment until payment, calculated on a daily basis and compounded monthly. Interest will be payable both before and after judgment.
9. Cancellation:
In the event that the Customer seeks to cancel the arrangement with the Supplier, the Customer acknowledges that the retainer paid is non-refundable. In the event of cancellation prior to the successful conclusion of negotiations resulting in a price reduction or limited liability or another such agreement the Customer will pay to the Supplier the minimum success fee of €1,600.00 + vat along with all expenses incurred by the Supplier up to the time of cancellation and any outstanding fees payable to the Supplier. The Suppliers estimated expenses incurred shall be conclusive and final.
10. No Other Liability:
The Supplier shall have no further liability to the Customer, whether under these conditions of service or on any other basis including liability in tort as a result of the sale of the Services.
11. Consequential Loss Etc:
The Supplier shall not under any circumstances be liable to the Customer by reason of any representation or warranty, condition or other term or any duty of common law, or under the express terms of these conditions or service, for any consequential, special, incidental or punitive loss or damage (whether for loss of current or future profits, loss of enterprise value or otherwise) and whether occasioned by the negligence of the Supplier, its employees or agents or otherwise, even if advised of the possibility of such damages.
12. Non-Excludable Liability:
Nothing in these conditions of service shall exclude or limit the liability of the Supplier for death or personal injury resulting from the negligence of the Supplier or any of its employees or agents, nor shall they operate to exclude or limit any statutory rights which cannot be legally excluded or limited, including the statutory rights of a consumer.
13. Sub-Contracting:
The Supplier may in its discretion delegate any of its duties in the provision of the Services.
14. Application:
No other terms shall apply to the sale of the Services.
15. Severability Clause:
In the event that any clause or part of a clause contained herein is struck down as being inoperable or invalid, it shall not affect the validity of the remainder of the terms and conditions.
16. Governing Law:
The validity and construction of these terms and conditions of sale shall be governed by the laws of the Republic of Ireland and the parties submit to the exclusive jurisdiction of the Republic of Ireland.
Regulatory Terms of Business:
Authorised and Regulatory Status:
Weston and Wellington Ltd t/a
Home Brokers is regulated by the Financial Regulator as a mortgage intermediary authorised under the Consumer Credit Act, 1995 and as an insurance intermediary registered under the European Communities (Insurance Mediation) Regulations, 2005. Our regulator number is C50429.The Financial Regulator holds registers of regulated firms. You may contact the Financial Regulator on (01) 410 4000 or alternatively visit their website on www.financialregulator.ie to verify our credentials.
Services:
These terms of business set out the basis on which Weston and Wellington Ltd t/a Home Brokers will provide services to you as a client of the firm. Please take some time to read through these and should you have any questions, we will be happy to answer them. The services this firm is authorised to provide are:
- Advising you in relation to the nature of each of the products and advising you as to which is most suitable for your needs
- Receiving and transmitting orders on your behalf for a product(s).
Weston and Wellington Ltd t/a Home Brokers has appointments to act in relation to mortgages.
Mortgage Undertakings:
Weston and Wellington Ltd t/a Home Brokers hold a letter of appointment from AIB Bank, KBC Homeloans, ICS Building Society, Haven Mortgages, Savills Private Finance Limited, PIBA Network Services Ltd and Solbank (Banco de Sabadell).
Weston and Wellington Ltd t/a Home Brokers has appointments to act in relation to insurance.
Insurance Undertakings:
Weston and Wellington Ltd t/a Home Brokers hold a letter of appointment from Canada Life, Hibernian Aviva, Proassured Ltd, Friends First, and Zurich Life Assurance plc.
Remuneration Policy and Fees:
Mortgage Business
Weston and Wellington Ltd t/a Home Brokers may receive commissions to the value of 1% of the value of the amount borrowed.
1. Mortgage Arrangement Fee
All mortgages applicants are subject to an upfront mortgage arrangement fee of €495.00 + vat @ 21% (€598.95) for arranging mortgage finance. This fee is refundable in the following circumstances:
- In the event that we are unable to secure you mortgage approval except in the event of non disclosure of material facts by you, the applicant.
2. Specialist Mortgage Arrangement Fee
All specialist mortgages applicants are subject to an upfront mortgage arrangement fee of €795.00 + vat @ 21% (€961.95) for arranging mortgage finance. This fee is refundable in the following circumstances.
- In the event that we are unable to secure you mortgage approval except in the event of non disclosure of material facts by you, the applicant.
3. Commercial Mortgage Arrangement Fee
Commercial Mortgage Arrangement Fees are determined by the amount required and the complexity of the application. In all cases a non refundable fee of up to a maximum of 0.5% of the loan amount + vat @ 21% will be charged.
In the event that we secure you mortgage approval and you decide not to proceed with the application the fee is not refundable.
Conflict of interest:
It is the policy of Weston and Wellington Ltd to avoid a conflict of interest when providing services to clients. Where an unavoidable conflict arises we will advise you of this in writing before providing any business services. If you have not been made aware of any such conflict you may assume that none arises.
Complaints Procedure:
Weston and Wellington Ltd has in place a written procedure for the handling of complaints. This procedure ensures that all complaints are recorded and acknowledged within 5 business days. All complaints are fully investigated and the complainant updated at intervals of not greater than 20 business days. We will attempt to investigate and resolve a compliant within 40 business days.
All complaints should be directed in writing to Ms Paula ter Brake, Complaints Officer. In the event that a client remains dissatisfied with the handling of and/or response to a complaint they may refer the matter to The Financial Services Ombudsman.
Default Remedies:
Weston and Wellington Ltd action in the event of default by the client is outlined below:
Product providers are entitled to withdraw benefit or cover on default of any payments due under any products arranged for your benefit. It is therefore critical to the guaranteed continuance of your insurance that your premium is paid in full. Some insurers may include as a term of the insurance a settlement due date or in some cases a warranty under the terms of which the premium must be paid to them by a certain date. We inform our clients of such requirements and the relevant date in good time to allow the payment terms to be met. Failure to comply with the terms of the warranty may mean that the insurers’ obligation under the policy will be terminated. We will automatically advise you of any payments outstanding on your policy and the consequences of failure to pay premiums.An outline of the action and remedies which the relevant product producers may take in the event of default by a client is included in the product producers’ policy document.
Consumer Protection:
Weston and Wellington Ltd is a member of the Investor Compensation Scheme established under the Investor Compensation Act 1998. The legislation provides for the establishment of a compensation scheme and to the payment in certain circumstances, of compensation to clients of firms covered by the Act. However you should also be aware that a right to compensation would only arise where money or investment instruments held by this company on your behalf cannot be returned either for the time being or for the foreseeable future and where the client falls within the definition of eligible investor as contained in the Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of the clients loss, which is recognised as being eligible for compensation or €20,000.
