Terms of Business, Privacy & Disclaimers

Conditions for Access and Use of Site Conditions for Access and Use of Site Conditions for Access and Use of Site Ubiquitous Mortgages endeavours to provide accurate information but disclaim all warranties with regard to the information contained on these pages. In no event or circumstance shall Ubiquitous Mortgages be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use or performance of this information. Ubiquitous Mortgages checks the information contained in these pages for accuracy but recommends that professional and legal advice is taken before entering into any form of transaction or contract.

Ubiquitous Mortgages does not take any responsibility for the accuracy of the information contained in these web pages and documents and recommend that all particulars are verified independently prior to entering into any form of transaction or contract.

In accordance with law concerning Data Protection of a personal nature, we inform you that the personal data you are about to, or may provide will be incorporated into a data file owned by Ubiquitous Mortgages who, as responsible party for the file, will use the data in order to provide you with personalized attention in its offering of products and services, as well as inform you about news and specials associated with these products and services. WE DO NOT SELL YOUR DATA TO 3rd PARTIES. The present Legal Notice regulates the access and use of the resources and services offered on the Internet website the "site")

Access and use of the Site attributes you the role of Site User which implies complete acceptance of each and every point included in this Legal Notice, without reservation. As a consequence, the User should carefully read the Legal Notice each time the User makes use of the Site because the Site may undergo modifications. The use of certain services offered to Users of the Site is subject to its own set of conditions which, depending on the case, substitute, complete and/or modify the present Legal Notice.

Conditions for Access and Use of Site

Ubiquitous Mortgages provides use of the Site at no charge to Users. Nevertheless, the services it offers through the Site, directly, indirectly or through 3rd parties, are subject to the payment of fees determined in the Conditions corresponding each (please see services and fees below). To this end, the User guarantees the authenticity of all data communicated in emails, fax, post. Likewise, the User will be responsible for maintaining all information provided to Ubiquitous Mortgages is up to date and in accordance with the actual situation of the Applicant. Above all, the Applicant will be the sole responsible party of false or imprecise statements made and the damage they may cause to Ubiquitous Mortgages or 3rd parties.

All charges and fees paid for services, or pending services (including valuation fees) paid to Ubiquitous Mortgages or any other third party are non refundable under any circumstances if you decide not to proceed with an application for any reason. We may, at our discretion, in the event that you are unable to proceed with a valuation on your chosen property allocate funds towards the application of an alternative property, provided that the application is made within a period of forty five days. Please remember that there are no guarantees that you will be granted a remortgage, mortgage or other loan. Without prejudice to the other clauses herein, in the event of a breach of these terms and conditions of use by the Applicant, Ubiquitous Mortgages reserves the right to suspend or terminate the Agreement without notice.

Documents Required

It is at all times the Applicants responsibility to provide, where required, documents to support the mortgage application such as wage slips, p60's, p45's, audited accounts, a copy of the nota simple or escritura, banks statements, your nie/nif certificate and passport copies.

Fees and Charges

For smaller loans below one million Euros, GBP Pounds or US Dollars we charge no fees whatsoever but the ENTIRE application process, due to the popularity of the service, is handled online by EMAIL ONLY! Applications will be attended to in a timely manner and emails will be responded to within 48 hours.

Valuations

Automated valuation modules (AVM's) are used to value properties for these products. AVM is the name given to a service that can provide property valuations using mathematical modelling combined with a database. Most AVM's calculate a property’s value at a specific point in time by analysing values, current and future trends. As well as this some look at previous surveyor valuations, historical house price movements and user inputs. These valuations are performed by an independent third party.

Jackie Bennet "Head of Policy" for CML (Council for Mortgage Lenders) the UK governing body states "Automated Valuations bring benefits for consumers" Please read the pdf file below for the report:

AVM's - a real alternative? The Council of Mortgage Lenders predicts that the use of AVMs will increase by 55 per cent for mortgages and remortgages by 2011.

Applications generally take 3-6 weeks (excluding notary completion). However, an 10 working day fast track service is available. This excludes holidays, public holidays and any extra days where the application is in transit to and from the ultimate lender. Although we strive to provide an answer within this period no guarantees are given.

All charges and fees paid for services are non-refundable under any circumstances. Although the mortgage applicant/s are paying the valuation fee it's for and on behalf of the the client, ie: "ultimate lender" and they have absolute title to the product and reserve judgment for lending purposes. It is important to understand that a lender valuation will typically be conservative as their valuation interest is in the price the property would readily sell for in case you could not meet repayments, not the maximum price it will achieve after a smart advertising campaign.

Lenders reserve the right (at their discretion) to reduce the the percentage of any advance against the value of the property in question. This may conflict with any earlier financial illustration provided by us and we cannot be held responsible for this decision under any circumstances.

Valuation Disputes

In our experience AVM valuations prove to be considerably accurate. However, if after an AVM valuation has been conducted there is a disagreement as to the value of the property for mortgage purposes the mortgage applicant/s agrees that any dispute shall be resolved in the following way:

Ubiquitous Mortgages will arrange for the property to be visited personally and a full formal survey carried out. This service will be provided by a surveyor nominated by them and all costs and charges are to be paid for this service in full prior to the survey by the applicant/s. This survey must be conducted within 30 days after the applicant has received notice that their application was declined. This is accepted as fair and reasonable by the applicant to ensure that the property is valued while values are consistent.

If the revised professional valuation values the property at an amount considerably higher, more than 15% higher than the AVM valuation the broker or lender who arranged for the AVM valuation to be carried out may do one of two things;

1) Consider granting a mortgage based on the revised professional valuation or:

2) Decline to grant a mortgage but if this is the case return in full the original AVM valuation fee paid excluding the broker application and banking fees. This will be refunded within 28 days.

Any further professional on site valuation conducted following an AVM valuation will become the property of the mortgage applicant for him to use elsewhere in obtaining a mortgage.

Self Certification Mortgages

A self certification mortgage works like any other type of house loan, other than that it doesn't ask for proof of employed income status. These mortgages are usually taken up by self employed Applicants. However, lenders may request site of some financial information (bank statements etc) to ensure that you are likely to make the repayments. They may also ask to see sight of a brief business plan showing forward projections for a new or existing business with some cashflow predictions. Typically, the information that any lender would require befor granting a loan. The lender may still carry out ID and credit checks on you, and they will still expect you to meet your repayments or risk repossession. They may also want to ensure that you are legally working in the EEC (European Union), and may ask to see sight of your social security paperwork.

They offer competitive rates of interest which can be fixed for a set period of time. Like a normal mortgage, a self certificate mortgage allows you to choose how long you want to pay the loan back. Not all banks and building societies offer these sorts of loans, and sometimes they're hard to find. There are a limited number of lenders beyond the high street that offer a type of self certification mortgage.

Obligation to Make Proper Use of Site and Content

The User agrees to use the Site and its Content within the confines of the law, this Legal Notice, Conditions as applied to specific Content and other notices, rules of use and instructions made known, as well as the moral and good practices generally accepted, and in line with the keeping of public order. For this reason, the User will assume full, personal responsibility, in all possible cases, of civil and or penal actions, which are the consequence of the User's actions.

Modification and Updating of Site

Ubiquitous Mortgages reserves the right to modify or delete parts of the Site or information contained in these parts or modify the configuration of the Site with the objective of improving its accessibility or presentation.

Mortgage rates, Taxes, Lawyer & Notary fees, Stamp duty and Registry fees

All interest rates and monthly repayments for loans are given in good faith by Ubiquitous Mortgages and can vary (go up and down)) at any time. Rates quoted by us are valid for a period of 14 days. The applicant acknowledges that all errors and ommissions on our part are accepted.The interest rate we quote for monthly payments is the lowest and most competitive rate available at any one time and may well refer to a particular lender. If that particular lender is unable to offer you a mortgage, other lenders reserve the right to charge a higher rate, and may not offer you a mortgage at all. Interest rates may also vary depending on an Applicants credit history. Interest rates for other lenders may be higher.

Applicants should allow for additional costs such as lawyer and notary fees, stamp duty, registry taxes etc. Therefore, we always recommend that Applicants contact their own professional advisor for advice on these.

Intellectual and Industrial Property Rights

All content of the Site, to be understood for expository purposes herein as text, photographs, graphics, images, icons, technology, software, and other audiovisual or audio content, as well as the Site's graphic design and software structure, is intellectual property of Ubiquitous Mortgages or 3rd parties, access to which cannot be understood as the ceding to the User of any rights beyond those strictly necessary in order for the Site to be used properly. Ownership of logos, brand names or distinct signs belongs to Ubiquitous Mortgages or 3rd parties, access to which cannot be understood as the ceding to the User of any rights concerning the use of said logos, brand names or distinct signs. All rights pertaining to the documentation contained in each and every one of the pages that form an integral part of the Site are reserved.

Policy of Personal Data Protection and Confidentiality

Ubiquitous Mortgages in accordance with existing legislation, informs and guarantees you the confidentiality of your personal data, and full compliance with the Spanish law of Data Protection of a Personal Nature. Ubiquitous Mortgages has adopted the security measures of personal data protection required by this law, installing the technical and organizational means necessary in order to avoid data loss, inappropriate use, alteration, unauthorized access, and other possible risks. Ubiquitous Mortgages handles and conserves information in compliance with the secrecy requirements concerning data contained in its files in order to guarantee the proper carrying out of its services and commercial objectives. WE DO NOT SELL YOUR DATA TO THIRD PARTIES. Our web page does not use cookies when the User surfs through different screens and pages of the Site nor do we keep records of this nature about said visitors.

The privacy policy of Ubiquitous Mortgages assures the User, in all cases, the right to access, rectify, cancel and oppose, within the confines of existing legislation, directing any message of this nature to our postal address. Content and services accessed through the links to 3rd parties that Ubiquitous Mortgages maintains operative within its Site are not under the control of Ubiquitous Mortgages and therefore the company cannot be held responsible for the information offered by 3rd parties. Ubiquitous Mortgages reserves the right to modify or delete parts of the Site or information contained herein or modify its configuration with the aim to improve accessibility or presentation.