A. TERMS OF BUSINESS
1.1 The following terms of business (the “Terms”) form the basis of the agreement between Redbrick Wealth Ltd, a company incorporated in England under the Companies Acts (Company Number 04710464) and having its registered office at Unit 5 Mustard Way, Andover, Hampshire, SP 11 6FP (“Redbrick Wealth”) and You (the “Agreement”).
1.2 Redbrick Wealth acts as an intermediary and agent for property sellers and may provide You with the opportunity to hold, reserve and agree to purchase properties listed on www.redbrickwealth.com (the “Website”) from the seller.
1.3 Redbrick Wealth may also, but do not have to, provide additional advice and assistance to You after You have agreed with the seller to purchase a property.
B. REGISTERING AND OPENING AN ACCOUNT ON THE WEBSITE
To register to use the client area of the Website You must agree to be bound by these Terms by clicking the accept button at the end of the registration form.
3. Opening and Accessing Your Account
3.1 Once You have accepted these Terms Redbrick Wealth will open an account for You and e-mail Your password required for logging-in to Your account in the client area of the Website.
3.2 This Agreement will commence on the date that the e-mail containing Your password was sent by Redbrick Wealth.
3.3 Your account and password are personal to You and should not be disclosed to anyone. You are responsible for all holdings, reservations, actions and activities that take place on Your account and/or using Your password. If You think that someone may know Your password or have used Your account or password without Your permission, You must contact Redbrick Wealth immediately.
3.4 Access to the client area of the Website is currently free. Redbrick Wealth may, at any time, restrict access to the Website (including the client area), charge for access to the Website (including the client area), or withdraw, in whole or part, the Website.
C. INFORMATION CONTAINED ON THE WEBSITE
4. Information contained on the Website
4.1 The Website may contain information about properties available for purchase from a third party, the value of the properties and the level of investment required to purchase the properties (the “Property Information”), and the potential return that could be made by purchasing the properties (the “Financial Information”).
4.2 The Property Information is based on information from third parties such as sellers and their agents, surveyors and the like. The Financial Information is based on Redbrick Wealth’s research and analysis of the market place. As the Property Information is reliant on third party information and often time critical, and the Financial Information speculative in nature, and again often time critical, Redbrick Wealth do not guarantee the accuracy, reliability or completeness or otherwise of the Property Information or Financial Information.
4.3 For the avoidance of any doubt Redbrick Wealth is not a regulated or licensed investment or financial adviser. All Information provided by Redbrick Wealth is intended as general information regarding property matters and should never be treated as giving advice or making a recommendation.
4.4 If You are going to rely on any of the Property Information or Financial Information, especially if relying on it could change Your financial or legal position, Redbrick Wealth strongly advise You exercise the same care and caution as You would normally use when making a substantial financial investment. In particular You should verify the Information and carry out an independent legal and financial assessment of any proposed investment, before committing to it. PLEASE REMEMBER THAT THE PRICE AND VALUE OF ANY PROPERTY CAN GO DOWN AS WELL AS UP. THIS CAN MEAN THAT YOU MAY GET BACK LESS THAN THE AMOUNT YOU ORIGINALLY INVESTED.
5. Third Parties on the Website
5.1 The Website may contain recommendations about the services offered by solicitors, mortgage brokers, furniture suppliers, accountants, estate agents or other third parties (“Third Parties”).
5.2 Redbrick Wealth do not guarantee the competence and reliability of the Third Parties.
5.3 If You are going to instruct any of these Third Parties, or rely on any advice or information provided by them, especially if relying on it could change Your financial or legal position, Redbrick Wealth strongly advise You exercise the same care and caution as You would normally use when consulting such a Third Party.
D. USING THE SERVICES OFFERED BY Redbrick Wealth
6. Properties listed on the Website
6.1 Redbrick Wealth may through the Website, by e-mail, postal mail, telephone, or any other means provide You with Property Information and/or Financial Information about properties that are or may in the future be available for purchase (the “Property”) as agent for certain third parties.
6.2 Redbrick Wealth are relying on plans, designs, specifications, particulars, pictures and/or artists’ impressions of the Property provided by third parties, and these are only intended as a general guide. In particular, the seller of the Property (the “Seller”) may, at any time and without prior notice, alter any plans, designs, specifications, particulars, pictures and/or artists’ impressions for the Property.
6.3 Where the Property has either still to be built or is in the process of being built the Seller may make alterations to the plans, designs, specifications, particulars, pictures and/or artists’ impressions. The plans, designs, specifications, particulars, pictures and/or artists impressions (as may be revised from time to time) may be available for inspection on the site being developed or in the relevant regional office of the Seller.
6.4 Although Redbrick Wealth will let You know about any alteration to the plans, designs, specifications, particulars, pictures and/or artists’ impressions that they become aware of, it is Your responsibility to check the most up-to-date position with the Seller before committing to any Property and to continue to check what, if any, alterations have been made while the Property is being built.
6.5 You accept and agree that if You enter into an agreement to purchase a Property listed on the Website other than through Redbrick Wealth You will still be liable to pay the Redbrick Wealth fees (as set out on our website) in respect of that Property as we have introduced you to that property. We provide you with our chosen property investments via this website through hard work sourcing and carrying out due diligence on these properties and our fees are still payable if an attempt is made to contact and negotiate with the developer direct. In these circumstances You will pay the fees to Redbrick Wealth within 7 days of receiving an invoice from Redbrick Wealth otherwise legal action will be taken to recover these fees.
6.6 Clause 6.5 will not however apply if You or Redbrick Wealth have ended this Agreement under clause 12 before the Property is listed on the Website by Redbrick Wealth.
7. Holding and Reserving a Property
7.1 You may be able to hold a Property listed on the Website by clicking on the appropriate icon and submitting the requested information to Redbrick Wealth through the Website. This means that provided You comply fully with terms 7.3, 7.4, 7.5, 7.6 and 7.7 no other Redbrick Wealth client will be able to place that Property on hold.
7.2 Redbrick Wealth will confirm to you, details of any Property that You have placed on hold and the reservation fee payable. We will then send the reservation form to You by post, email or fax.
7.3 Redbrick Wealth must receive as agent for the Seller Your reservation fee in the form of a bacs transfer or credit card payable to the Seller (unless otherwise stated on the Website) on the same day as reservation in order to put a hold on the Property. The Redbrick Wealth finders fee is also payable in order to hold your chosen property.
7.4 As soon as You have posted Your reservation fee please email Redbrick Wealth at firstname.lastname@example.org to confirm that Your reservation fee has been posted. If Redbrick Wealth do not receive Your reservation fee or payment is rejected, Your hold placed on the Property will be removed and the Property will be re-listed for sale on the Website.
7.5 Your reservation form must be signed and returned to Redbrick Wealth as soon as possible; in any event Redbrick Wealth must receive Your reservation form within two business days of the Property being held through the Website. If Redbrick Wealth do not receive Your reservation form within the required two business days, Your hold placed on the Property will be removed and the Property will be re-listed for sale.
7.6 It is Your responsibly to obtain a decision in principle from Your mortgage broker and provide copies to Redbrick Wealth within a reasonable time and in any event within 7 business days of the Property being held through the Website. If Redbrick Wealth do not receive the documentation within the required 7 business days, Your hold placed on the Property may be removed and the Property will be re-listed for sale on the Website. In such circumstances Redbrick Wealth are not obliged to return Your reservation fees to You. This only applies to properties that are less than 6 months from completion and require a mortgage in place in order to complete.
7.7 Once Redbrick Wealth have received as agent for the Seller:-
7.7.1 Redbrick Wealth’s finders fees (these are non refundable after any cooling off period stated in the reservation form and are not dependent on any future change in the original deal sourced. Any further changes or alterations in the future by the developer or any other party will have no bearing on the finders fee paid which will still remain non-refundable. The finders fee is charged at the time the property is presented to the client and Redbrick Wealth accept no liability for any future change of circumstance in relation to that property purchase, clients must ensure they carry out all necessary due diligence before reserving a property and paying the finders fees.);
7.7.2 Your reservation fee;
7.7.3 Your signed reservation form; and
7.7.4 written confirmation from Your mortgage broker that You have a decision in principle from them or written confirmation from You that You do not require a decision in principal.
Your reservation form and deposit payment will be sent to the Seller.
7.8 Once Redbrick Wealth have confirmed Your reservation form and cheque have been received and accepted by the Seller, the Property will be reserved (the “Reservation”) (subject to the Seller’s usual practice) for a reasonable period for You to be able to enter into a legally binding contract with the Seller to purchase the Property (the “Contract”), for example exchange contracts in England or conclude missives in Scotland. Usually this occurs within 28 days from the initial deposit payment being received.
7.9 For the avoidance of any doubt, in the event that no Contract is entered into within a reasonable period, Your Reservation may (subject to the Seller’s usual practice) be canceled by the Seller and Your reservation fee may be retained by the Seller. Redbrick Wealth cannot be held liable for a developer retaining a non refundable deposit in this situation.
7.10 Unless You inform Redbrick Wealth otherwise in writing, You are responsible for instructing your solicitor to act on your behalf for your chosen property. If you would like Redbrick Wealth to advise of a suitable solicitor this should be requested in writing at the time of reservation.
8. Redbrick Wealth’s Fees
8.1 Redbrick Wealth’s finders fees (the “Fees”) for providing the services set out in section D in relation to each Property will be set out on the Website.
8.2 The Fees become chargeable and are required to be paid by You within 7 days of Your reservation.
8.3 Once the Fees become payable, no act or omission of You or the Seller will affect Redbrick Wealth’s entitlement to be paid the Fees on time.
8.4 Redbrick Wealth finders fees are non refundable after exchange of contracts or after the 14 day cooling off period whichever is the sooner and are not dependent on any future change in the original deal sourced – any further changes or alterations in the future by the developer or any other party will have no bearing on the finders fee paid. The finders fee is charged at the time the property or deal is presented to the client and Redbrick Wealth accept no liability for any future change of circumstance for any party in relation to that property purchase. This includes the clients mortgage circumstances and the developer’s individual circumstances and build schedules. Clients must ensure they are happy with any due diligence provided or carry out all necessary due diligence themselves before reserving a property and paying the fees. The finders fee IS fully refundable for the duration of a 14 day cooling off period or before exchange of contracts whichever is the sooner. However, the holding deposit passed onto the developer and processing fees (£495) are not refundable at any point after reservation.
9. Consequences of Non-Payment of Fees
Any Fees outstanding after the due date will bear interest from that date until payment is received by Redbrick Wealth at 4% over Barclays Bank Plc base lending rate from time to time, accruing daily and compounded monthly on the first day of each month.
F. CHANGING AND ENDING THE AGREEMENT
10. Changing these Terms
10.1 Redbrick Wealth may change these Terms from time to time on giving no less than 30 days notice. You will be notified of any change to these Terms by email and an announcement will be posted on the Website.
10.2 If You decide not to accept any change made to these Terms You must inform Redbrick Wealth, in writing, within 3 working days of receiving the e-mail, otherwise You will be deemed to have accepted the change.
11. Ending the Agreement
11.1 Either You or Redbrick Wealth may end the Agreement immediately on giving written notice.
11.2 For the avoidance of any doubt, if You choose to end the Agreement this will not affect any Reservation or Contract You have already entered into prior to ending the Agreement. You will still be liable to pay Redbrick Wealth any Fees due in relation to any such Reservation or Contract, including any fees due to Redbrick Wealth under clause 6.5.
12. Redbrick Wealth’s Liability
12.1 Redbrick Wealth’s entire liability for any loss, harm or damage suffered by You as a result of Redbrick Wealth’s breach or non-observance of the Agreement is:
12.1.1 unlimited in the event of death or personal injury; and
12.1.2 limited to the higher of (i) £500 or (ii) the amount of Fees (if any) actually paid by You in the preceding twelve months, for any other loss, harm or damage.
12.2 In addition, Redbrick Wealth will only be responsible for direct loss, harm or damage, and so will not be responsible for any loss, harm or damage which is not reasonably foreseeable by Redbrick Wealth and which is not a direct and immediate result of Redbrick Wealth’s breach of the Agreement.
13. Your Personal Information
13.1 Your personal information collected by Redbrick Wealth may be used to enable Redbrick Wealth to deal with any request You have made using the Website. Redbrick Wealth will also use and analyse the information collected so that Redbrick Wealth can administer, support, improve and develop Redbrick Wealth’s business.
13.2 Redbrick Wealth may use Your personal information to contact You for Your views on the services provided by Redbrick Wealth and to notify You occasionally about important changes or developments to these services. Further, Redbrick Wealth may also use Your information to let You know about other products and services which Redbrick Wealth offer which may be of interest to You and Redbrick Wealth may contact You by e-mail, post, telephone or fax. If You do not want to be contacted by Redbrick Wealth, please let Redbrick Wealth know in writing.
13.3 Redbrick Wealth may allow carefully selected third parties to contact You about products and services which may be of interest to You. They may contact You by e-mail, post, telephone or fax. If You do not want to be contacted by these companies, please let Redbrick Wealth know in writing.
13.4 If any of Your personal details change You should let Redbrick Wealth know as soon as possible. You can do this by sending an email to email@example.com
13.6 When we send emails to our own customers, we’ll sometimes track who opened the emails and who clicked on any of the hyperlinks. This allows us to measure the performance of our Email Campaigns, and as such to improve our service and product offering to specific customers.
You accept and agree that You will not disclose or use or cause to be disclosed or used, at any time during or after this Agreement has, any secret or confidential information of Redbrick Wealth, their clients or customers or any other non public information relating to Redbrick Wealth’s business, financial or other affairs acquired under this Agreement. That confidential information includes any price, discount or other financial information about any Property.
If any Term of this Agreement is held by a competent authority to be invalid or unenforceable in whole or in part, the validity of the other Term of this Agreement and the remainder of the Term in question shall not be affected.
16. Entire Agreement
16.1 It is intended that this Agreement contains the entire Agreement between You and Redbrick Wealth and supersedes any previous Terms in relation to the matters with which it deals, including Redbrick Wealth’s Website Terms and conditions.
16.2 Other than as expressly set out in this Agreement, You accept and agree that You were not induced to enter into this Agreement in reliance of any statement, warranty or representation which is not repeated in this Agreement.
16.3 If this Agreement does not set out all of the terms of Redbrick Wealth’s agreement with You, You must notify Redbrick Wealth in writing within 5 days of any such statement being made.
16.4 If during the course of this Agreement Redbrick Wealth have made any additional statements on which You are relying, You must notify Redbrick Wealth in writing within 5 days of any such statement being made.
17.1 Any notice to be given to You under this Agreement can only be:
17.1.1 delivered to You personally at the address provided by You in Your Registration Form; or
17.1.2 e-mailed to You at the e-mail address provided by You in Your Registration Form.
17.2 Any notice to be given to Redbrick Wealth under this Agreement can only be:
17.2.1 delivered to Redbrick Wealth at the above address; or
17.2.2 e-mailed to Redbrick Wealth at firstname.lastname@example.org
17.3 A notice is deemed to have been served if:
17.3.1 personally delivered, at the time of delivery;
17.3.2 send by e-mail, 12 hours after the e-mail was sent.
17.4 In proving service it is sufficient to prove that personal delivery was made, or that the print of the e-mail containing the notice was properly addressed.
18. Governing Law
This Agreement is governed by the laws of the UK.