Castlefree

Castlefree Terms of Business

1. The Financial Services Authority (FSA)
You should be aware that foreign property sales do not fall within the regulatory responsibilities of the Financial Services Authority (FSA).
We do not offer any advice or recommendation as to whether property is a suitable investment for any purpose. If you would like investment advice then you should consult an Independent Financial Adviser regulated by the FSA.
If you are going to use a Self-Invested Personal Pension (SIPP) to purchase an overseas property you will be required to take advice from a suitably qualified Independent Financial Adviser who will assess whether your risk profile is suitable for the purchase.
We act as introducers for Overseas Property Purchase & Mortgages and are Unauthorised Professional Introducers for regulated business to an FSA authorised Independent Financial Advisor Firm.
2. Which properties do we offer?
We offer properties from a limited number of companies/developers in a limited number of countries and act as agents.
We constantly review the property market in line with market conditions via our agency connections. All properties are offered through the companies/developer and your purchase contract and any agreement to purchase is with the companies/developers and not Castlefree or its providers.
Should you decide not to proceed with a purchase then the developer may not refund any deposit paid. You should check your purchase contract carefully prior to signing.
Please be aware Castlefree takes no responsibility for any advice given by developers or Independent Financial Advisers.
Should a developer go into administration for any reason Castlefree takes no responsibility for any purchase losses that you may incur. We act purely as an introducer to the provider/developer.
3. Which service will we provide you with?
We will provide you with the range of products available to us and the various options on how to purchase to enable you to make your own informed decision on the best way for you to purchase an overseas property. We are unable to offer any advice on which is the best way for you to purchase your overseas property.
4. What will you have to pay us for this service?
You will not pay us any fees for this service; however, we will receive a fee from the developer who provides you with a property.
5. Tax
We do not provide advice on tax matters relating to foreign property purchase, or taxation queries for foreign countries. We would recommend that you source specialist tax advice from an independent tax advisor who specialises in the country in which you are purchasing.
6. What to do if you have a complaint?
Our aim is to provide you with a first class professional and confidential service. However, should you have a complaint, please contact the Compliance Officer in the first instance: In writing to: Castlefree 8 Rookery Close Gillingham Dorset SP8 4LH or by phone 07880 528538.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
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.
8. Funding Options
Cash from savings
100% of the property is purchased outright using savings. The overseas property is owned outright with no lending secured on it.
Secured or Unsecured Loan
Secured lending can be either on the overseas property or on another property, unsecured could be via a personal loan. Both options will impact on your monthly outgoings and you should be aware that if payments are not kept up on loans then property could be repossessed or your credit history could be adversely affected. You are usually required to make some form of cash deposit; please ensure you do not borrow more than you can afford to pay back.
Pension
Money from a pension fund can be used to purchase some overseas property; you must seek Independent advice on the suitability and risks involved with this funding option.
Data Protection
In order to provide you with relevant information Castlefree representatives will need to collect personal data about you, which they will hold as Data Controllers under the Data Protection Act 1998. Our representatives will use these details to understand your requirements so that they can ensure the information given is relevant to your particular circumstances. This will either be in response to your specific request for information 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, 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 Castlefree and its representative’s access to case progress information.
Your details may have to be passed to other companies and their advisers so that you can receive financial advice.
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 our 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 our Data Protection Officer at Castlefree.

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.

PURCHASING OVERSEAS PROPERTY CAN BE A HIGHER RISK PURCHASE THAN IN THE UK AS PROPERTY LAW WILL OFFER DIFFERENT PROTECTION TO THE PURCHASER IN DIFFERENT COUNTRIES.

Please also read our Terms and Conditions for Property Purchase