hbf

Terms and Conditions


1. HBF Investments Ltd (HBFI) provides all information and supporting photographs properties through the Investor Website and emails in good faith. HBFI will not accept any responsibility or liability for misinformation supplied and the Investor must ensure that the content of such information is correct and must carry out their due diligence.
 
2.

Reservation Fee:

2.1. A Reservation Fee must be paid to reserve a property.
2.2. By paying the Reservation Fee, the Investor is agreeing to our Terms and Conditions
2.3. HBFI reserve the right to return a Reservation Fee to the Investor for any reason and at any stage of the purchasing process to cancel a sale. HBFI will not be liable for any losses or costs incurred by the Investor in such a case.
2.4. The Reservation Fee will not be refundable in any circumstances when HBFI deem the Investor to be at fault for a purchase being aborted or should the investor refuse, or be unable, to complete their purchase for any reason after the RICS valuation has been carried out and the purchase price has been agreed with the Investor, the Vendor and HBFI.
2.5. The Reservation Fee will not be refundable in any circumstances when the Investor cannot complete their purchase, or their purchase is delayed, because the Investor is unable to obtain a mortgage, is refused a mortgage or has a mortgage withdrawn. Should an investor be relying on obtaining mortgage finance the Investor must satisfy all their lenders terms and conditions. This includes Investor’s being able to prove their income and deposit, and that the source of their deposit is acceptable to their lender. Reservation fees will not be refundable in any circumstances when Investors are refused a mortgage or have their mortgage withdrawn because they are unable to satisfy these terms and conditions of their mortgage provider.
2.6. The Reservation Fee will not be refundable in any circumstances should the Investor take an unreasonable length of time to complete their purchase thereby putting the purchase at risk. HBFI at its sole discretion may cancel an Investors purchase in these circumstances and HBFI will not be liable for any losses or costs incurred by the Investor in such a case.
2.7. If the sale is aborted through no fault of the Investor, HBFI may refund the Reservation Fee at its own discretion. HBFI will not be liable for any losses or costs incurred by the Investor in such a case. HBFI will not be liable for, and will not refund, any legal fees, valuations fees and other fees that may have been paid by Investors, or by HBFI on behalf of the Investors from their Reservation Fees. Below some of the examples when a refund of Reservation Fee (less and any fees paid by HBFI on behalf of the Investor) may be considered:
2.7.1. The vendor’s redemption fees are greater than the price being paid by the Investor and the Investor is unable and/or unwilling to buy at the price required to redeem the secured debt on the property and/or the vendor is unable to repay the additional amount monies required to redeem their secured debt on the property.
2.7.2. There is an irresolvable problem associated with the property ownership and/or Title.
2.7.3. The vendor goes missing and/or refuses to sell their property for any reason that cannot be quickly and easily resolved.
2.8. The Reservation Fee will form part of Investors Finder’s Fee which may be payable in full on completion.
 
3.

Properties from 3rd Parties

3.1. HBFI is not liable for refunding any Reservation Fees, costs or losses which may be incurred by the Investor during the purchasing of any properties from 3rd Parties introduced by HBFI. This includes any losses resulting from monies paid by the Investor, and by HBFI on behalf of the Investor from their Reservation Fees, to 3rd Parties and/or 3rd Party solicitors and/or 3rd Party brokers.
3.2. HBFI strongly recommends that Investors do not pay any fees to 3rd Parties and/or 3rd Party solicitors and/or 3rd Party brokers under any circumstances and they do so entirely at their own risk.
 
4.

Due Diligence and Refunding of Reservation Fees and RICS Valuation Fees:

4.1. Investors paying to reserve a property are assumed to have carried out their own due diligence and are in full agreement with the purchase price and estimated open market valuation of the property (other than as in points 4.2 and 4.5).
4.2. Investors have a 5 day ‘cooling off period’ in which to view the property and to request a full refund if they decide not to proceed with the purchase of the property at the agreed price. Refunding of Reservation Fees will revert to standard HBFI Terms and Conditions after the 5 day ‘cooling off period’ expires.
4.3. The RICS valuation must be carried out and/or instructed within 7 days of Investor reserving the property. The RICS valuation will be non-refundable in any circumstances.
4.4. Investors have the opportunity to visit the property at any time once Reservation Fee has been paid but should the Investor choose not to view the property within the ‘5 day cooling off period’, they will be deemed to be satisfied with the valuation, purchase price and condition of the property and Investors will be unable to subsequently renegotiate the purchase price unless the RICS valuation is returned lower than requested in the mortgage application.
4.5. Should the RICS valuation be insufficient to meet mortgage lender criteria, HBFI will endeavour to resolve through negotiation between Vendor and Investor. Should the matter not be resolved to the satisfaction of the Investor their Reservation Fee will be transferred to another HBFI Ready Made Deal or it may be refunded at the sole discretion of HBFI, less the costs of any fees paid out by HBFI on behalf of the Investor.
4.6. Once a RICS valuation comes back satisfactorily and/or if a new price has been renegotiated following a lower than expected RICS valuation (as in point 4.5) and the Investor agrees to proceed, the Reservation Fee will be non-refundable (other than as in point 2.7).
 
5.

Mortgage Brokers and Fees:

5.1. Investors will use one of HBFI’s panel mortgage brokers unless agreed otherwise in writing with HBFI.
5.2. Broker fees will be specified at the time of reserving a Ready Made Deal.
5.3. Investor must be in a position to provide the following information to lender:
5.3.1. Proof of deposit and/or acceptable source of deposit.
5.3.2. Proof of income.
5.3.3. In some cases, provide tax accounts (e.g. if self employed).
5.3.4. Other criteria/demands, not listed above, as introduced or requested by lender.
5.4. Investor will pay for the RICS valuation and broker fees directly or HBFI may pay for these fees on behalf of the Investor from their Reservation Fee.
5.5. If Investor is unable to obtain a mortgage, or has a mortgage withdrawn they will be liable for all broker and valuation fees.
5.6. HBFI is not liable for refunding broker fees or valuation fees in any circumstances.
 
6.

Solicitors & Legal Fees:

6.1. Investors will use one of HBFI’s panel solicitors.
6.2. HBFI will have authority to speak to Investor’s solicitor for updates at any time during the process.
6.3. Investors commit to paying all their legal fees + VAT + disbursements and also the legal fees of the vendor.
6.4. Investors are required to return all legal documentation, proof of identification and any other such information requested by their solicitors as quickly as possible so not to delay their purchase and/or to put their purchase at risk.
6.5. Should the Investor be at fault for an abortive purchase, for example Investor delays returning documentation to their solicitor, is unable to obtain a mortgage or the Investor wishes to cancel the purchase, the Investor will be responsible for their abortive legal costs and also the vendor’s legal fees and any legal fees incurred by HBFI.
6.6. Should HBFI deem the Investor is not at fault for an abortive purchase, the Investor will only be responsible for their own abortive legal costs.
6.7. Where HBFI deem the Vendor is at fault for an abortive purchase, HBFI will endeavour to recoup Investor’s abortive legal costs from the Vendor. HBFI accept no liability or responsibility for costs incurred by the Investor should these fees not be recovered from the Vendor.
6.8. Investor will pay their legal fees directly or HBFI may pay for these fees on behalf of the Investor from their Reservation Fee. HBFI will not be liable for any abortive legal fees for the Vendor or the Investor in any circumstances.
6.8. Investor may be required to pay any stamp duty in addition to all fees and deposits.
 
7.

Lettings Agents and Fees:

7.1. HBFI may recommend lettings agent’s services through 3rd Parties.
7.2. It is the sole responsibility of the Investor to ensure that all contracts (e.g. AST’s) and safety certificates have been obtained and that all rents and deposits are being collected by their letting agent.
7.3. HBFI is not responsible for ensuring letting agents obtain contracts and safety certificates or that they collect rents and deposits and HBFI will not be liable for any losses or costs incurred by the Investor in such a case.
 
8.

Building & Refurbishment Services and Fees:

8.1. HBFI may recommend building and refurbishment services through 3rd Parties.
8.2. It is the sole responsibility of the Investor to ensure that any work carried out by 3rd Parties builders recommended by HBFI is to their satisfaction in terms of both quality and costs. Furthermore, it is the responsibility of the Investor to ensure that all work carried out by 3rd Party builders meets all requirements specified in RICS valuations and any other building surveys and that may be needed for mortgage offer and mortgage retention purposes.
8.3. HBFI will not accept any liability or responsibility for the quality of work, standard of service, or any losses or costs incurred by the Investors using 3rd Party building and refurbishment services.
 
9. A Cost Illustration will be provided for guidance purposes only.
 
10. HBFI reserve the right to amend these Terms and Conditions at any time and without notice.