Sourcing T&Cs

These Terms and Conditions (the “Terms”) govern the relationship between us and you. Please read these terms carefully.

Trading with Prosperty Group Limited is subject to these Terms and Conditions. References to “we”, “us” and “our” are references to Prosperty Group Limited incorporated and registered in England and Wales with Company Number 13131891 whose registered office is 85 Great Portland Street, First Floor, London, W1W 7LT.

The terms “you”, “your” and “investor” refer to any individual, company or business to whom we provide our services by any means including, but not limited to, email, telephone, face-to-face contact, postal correspondence or via our website https://www.prospertygroup.co.uk.

We provide a non-advised property information and property sourcing service for property and property related goods and services in the UK hereon referred to as the “Service” or “Services”.

Registering your details with us

We are only able to keep you fully informed on current and future opportunities if the details that you provide at registration are complete and correct. Please inform us immediately of any changes to your information by sending an email to info@prospertygroup.co.uk or calling us on 0203 490 9965.

Information provided by us

We provide information about investment opportunities in the form of, but not limited to market research, statistics, forecasts, reports, herein referred to as “Information”. We provide Information obtained from a number of third party sources including developers, valuers, estate agents and letting agents. Whilst we endeavour to provide accurate, up-to-date and complete Information we make no warranties or representations as to the accuracy, reliability, completeness or otherwise of the Information and assume no responsibility or liability for any omissions or errors contained in the Information.

Your participation in investment opportunities

We will offer you opportunities for investment and we will endeavour to provide you with opportunities of a sound and reliable nature. We will speculate on both the level of investment required and the potential returns. This is based on our research and analysis. Due to the speculative nature of such opportunities, the information we provide should be considered our ‘opinion’ and in no way implies we are providing advice of any kind and you are not our advised client in any matter or transaction.

Investors are advised to carry out their own analysis and judgment of the investment being offered and to independently verify the Information and our speculative analysis through your own research. You are advised to carry out an independent legal and financial assessment of any opportunity offered to you, before making any commitment to participate. Please remember that the price and value of any investment and income generated from it can decrease as well as increase. If you are in doubt about any investment decision you should seek the advice of a suitably qualified person.

We are not a mortgage broker and any reference to mortgage products, terms and rates are for example purposes only and cannot be construed as an offer or a fundamental component of the investment opportunity that we are offering. Please seek financial advice from a mortgage broker who can confirm the current availability of mortgage products and their terms. Any indication of a level of cash investment required for a property is purely an example and could vary significantly per investor or over time.

Valuation information provided by us from sources like Land Registry, Rightmove and other property price and rental data sources are provided ‘as is’ and for information purposes only. RICS valuations carried out by us or on our behalf or via third parties are provided to you for information purposes and valuation opinions can vary between valuers and between dates. We cannot take responsibility for a valuer changing their opinion over time or a different valuer providing a different opinion.

You acknowledge and agree that:

  • All information sent to you by us is private and confidential and should not be discussed with any third party unrelated to the agreement between you and us;
  • Not all the properties introduced to you by us will match your requirements in every respect;
  • A property may be withdrawn from the market before you receive details of it from us;
  • The details contained and any information provided to you are for guidance only. Any photographs, floor plans, sizes and specification are subject to changes and only give a general indication of a property. The Market Value of the property is an estimated value. It is based on comparable properties for sale or sold in the area as well as local agents’ opinion.
  • You shall satisfy yourself as to the correctness of any information provided by us before purchasing a property;
  • The seller may withdraw from the sale or change the price of a property at any time;
  • We do not offer any legal, surveying, financial, tax, accounting or other specialist advice;
  • We have recommended that you take appropriate legal and other advice and to use the services of solicitors, surveyors, valuers, financial advisers and other specialists, for whose fees you are solely responsible;
  • The choice of property is your responsibility;
  • You should declare all the incentives You are to receive or have received in connection to the purchase of a property to your mortgage lender. You acknowledge and understand that a lender might reduce the amount You can borrow based on the incentives You are to receive or have received;
  • You are required to exchange contracts within 6 weeks of your solicitors receiving contracts unless otherwise stated. This requirement applies to the Buyer only. Failure to do so could result in the vendor withdrawing a property and our reservation fee being lost. We cannot foresee any delays that may be caused by the Vendor,  however, both sides are required to act promptly, avoiding any delays during conveyancing. Any delays on either side should be justified, and the reason for it to be communicated immediately to Us at all times;
  • You must instruct a solicitor and provide us with your solicitors details within 5 days of reserving the property. Failure to do so could delay the property transaction and could result in the vendor pulling out of the sale entirely;
  • You must instruct a mortgage broker and provide us with your mortgage broker details. The mortgage application must be applied for within 5 days of reserving the property. Failure to do so could delay the property transaction and could result in the vendor pulling out of the sale entirely;
  • You understand that should the vendor decide to pull out of the sale of the property as a result of you not respecting the property transaction time frames as listed above, we reserve the right to charge you an administration fee of £1,000. However, we agree that the Finder’s fee paid remains transferable to an alternative property;
  • You understand that we might receive a referral fee from our panel of recommended brokers and solicitors for successfully referring You as a client;
  • You must not contact a developer, vendor or any of its agents regarding a property by us other than to confirm specific information such as floor plans, sizes and specifications etc. and only with prior written authorisation from Prosperty Group;
  • In accordance with Anti Money Laundering Regulations, you must supply Prosperty Group with photographic identification, proof of address and proof of funds prior to Us conducting business.
Use of our services 

“An opportunity introduced by us” means any investment opportunity which may include, but is not limited to land, property, apartments, homes, entire developments, whether constructed or not at the time of introduction.

Property Sourcing Fee, Additional Costs & Payment

We will charge the Investor a non-refundable holding deposit of £1,500. This non-refundable holding deposit is to take the property that they wish to buy off the market that we have sent out to our mailing list. We agree to take the property off the market and will mark it sold. The non-refundable holding deposit will be deducted from the final fee that we will invoice you for if you exchange and complete on a property purchase that we introduced to you. If you do not exchange and complete in the agreed time frame at which case it goes back on the market and you lose your non-refundable holding deposit. However, this non-refundable holding deposit can be used on one other property within 12 months from the date you put down the non-refundable holding deposit on another property that we introduce to you that you wish to take off the market to purchase.

You will only become liable to pay us a fee if you successfully exchange contracts on a property introduced to you by us. A fee of £2,795 plus VAT at the rate prevailing on the day of contracts being exchanged (currently 20%) is payable by you to us for each property introduced to you by us that you agree to purchase and that proceeds to a successful exchange and completion.

Our fee will always be disclosed to you before you commit to purchase by way of an arrangement fee agreement form. Signing of this form confirms your acceptance of these Terms and Conditions and that any disclosure or otherwise is adequate for your purposes.

You confirm that the total fees payable by you to us is acceptable to you, that you have made any enquiries you wish to make and it is on this basis that you have assessed the suitability of the investment for your purposes in terms of the total acquisition price including all fees.

Unless otherwise agreed in writing by us, our fees are payable upon exchange of contracts to purchase a property.

What to do if you have a complaint

Please contact the Property Investment Consultant you have been dealing with. Alternatively, please contact our Customer Care Team either in writing to Prosperty Group Limited, 85 Great Portland Street, First Floor, London, W1W 7LT or by email to info@prospertygroup.co.uk.

We are members of the Property Redress Scheme, independent dispute resolution service. If we have given you our final response and you are still dissatisfied, you can refer your case to PRS. Details of how to do this are contained within the Managing Director’s final letter, Property Redress Scheme consumer guide or online at https://www.theprs.co.uk/.

Restrictions

If you, without notifying us and within one year of the date an opportunity was originally introduced to you by us

  • engage in any capacity directly with a seller introduced to you by us

  • or engage with the seller over new opportunities

  • or if you or a member of your family or someone else known to you refers an opportunity introduced to you by us to another person, or body and that person or body engages in any capacity directly with the seller of the opportunity

When you will be liable to pay our fee of £2,795 per property plus VAT at the prevailing rate.

Third parties introduced to you by us

We will endeavour to suggest solicitors, mortgage brokers, furniture suppliers, letting agents and estate agents or other third parties (“Third Party” or “Third Parties”) of good calibre, who offer a service or product deemed to be of good quality and reasonable cost. However, we make no warranties or representations as to the reliability of the services provided by Third Parties and assume no responsibility or liability for their actions, omissions or errors. If you make any arrangements with a Third Party found suggested to you by us, it is at your sole risk and responsibility.

Limitations of Liability

You agree and acknowledge that to the extent permitted by law, and in view of the numerous sources from which we obtain the Information, the impracticality of verifying the sources.

We are not authorized by the Financial Conduct Authority to provide investment or financial advice. By signing seller reservation forms and/or our Finders or Arrangement Fee agreements you acknowledge that we have not provided you with financial or investment advice.

Loss of profit, revenue, goodwill, or anticipated savings. Neither party shall under any circumstances whatsoever be liable to the other, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for:

  1. any loss of profit sales, revenue, or business;

  2. any loss of expected profit;

  3. any loss of expected income;

  4. loss of anticipated savings;

  5. loss of or damage to goodwill;

  6. loss of use or corruption of software, data or information;

  7. any loss arising out of the lawful termination of this agreement or any decision not to renew its term, or

  8. any loss that is an indirect or secondary consequence of any act or omission of the party in question.

Limited Scope of Authority

We shall have no authority, and shall not hold itself out, or permit any person to hold itself out, or otherwise create the impression that it is authorised to bind the Investor in any way apart from to negotiate the price of a property for sale, and shall not do any act which might reasonably create the impression that we are authorised.

We have the right to negotiate with the property vendor, seller, agent or developer on the sale price. However, the Investor does not have to accept the price that has been agreed by us.

Third Party Rights

No one other than a party to this agreement shall have any right to enforce any of its terms.

Governing Law 

This agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales.

Jurisdiction 

Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this agreement or its subject matter or formation (including non-contractual disputes or claims).

This agreement has been entered into on the date stated at the beginning of it.

Variation

No variation of this agreement shall be effective unless it is in writing and signed by the parties.

Termination

Without affecting any other rights or remedy available to it either party may terminate this agreement with immediate effect by giving written notice via email to the other party. All fee/commissions/payments will still be due as per this contract to us on all properties we introduce to the Investor before the termination, no matter how far into the future they are if they exchange and complete any of these properties.

Entire Agreement

These Terms constitute the entire agreement between you and us, supersede any previous agreement or understanding and may not be varied except in writing between us. All other Terms and Conditions, expressed or implied by statute or otherwise, are excluded to the fullest extent permitted by law.

Data Protection

We will respect your personal information and comply with all applicable UK Data Protection legislation and rules currently in force. We will use any information provided by you to us to constantly monitor and improve our services to you and for marketing purposes. We may also use such information to send specific correspondence which, in our opinion, may be of interest to you.

Laws Applicable

These Terms shall be governed by and construed in accordance with the laws of England and Wales and all disputes arising in connection with them shall be submitted to the exclusive jurisdiction of the English Courts.

Prosperty Group Limited (trading as Prosperty Group)
85 Great Portland Street, First Floor, London, W1W 7LT
0203 490 9965
info@prospertygroup.co.uk 
https://www.prospertygroup.co.uk

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