Terms & conditions
Qualification is subject to the following terms & conditions:
In the event of any of the following, we reserve the right to remove or amend the offer at any time. The following is inclusive of, but not exhaustive:
• Further local or national lockdowns where it becomes more difficult or impossible to conduct a physical valuation
• Where physical valuations are delayed due to a difficulty in sourcing the necessary personal protective equipment (PPE)
We reserve the right to withdraw or amend the service promise at any time, however any affected advisers will be given as much notice as possible.
1. The service promise applies to all new applications submitted on the more2life fastpath portal dated from 00:01 on Monday 20th July 2020.
2. A ‘qualifying application’ is one which meets criteria set out in these terms and conditions. Please see Point 5 for property types which are specifically EXCLUDED from qualifying for the service promise and Point 6 for further exclusion details.
In order for an application to be eligible for the offer, the adviser must ensure all information and documentation is provided for the application to be able to proceed to the offer stage of the process.
Where it is not possible to carry out a remote valuation or, due to risk assessment reasons, a full physical valuation, the offer does not apply.
3. For the avoidance of doubt, the ‘date of application’ is the digital time stamp applied to an application in the more2life fastpath portal once an adviser has clicked the ‘submit’ button. The service promise applies to the fourteenth working day from this date (i.e. excluding weekends and Bank Holidays).
4. The service promise will only apply to application that result in completion, and payment of any compensation, if due, will be made after completion has taken place (see Point 7 for more details).
5. We are unable to include all applications on ALL properties in the service promise. This is due to the more complex nature of lending on certain property types and the inevitable additional timeframes required to complete underwriting and issue and Offer on such properties which are beyond our reasonable control. The following property types are specifically EXCLUDED from the service promise:
i. Properties subject to a leasehold agreement
ii. Properties that require additional specialist reports, works, warranties and/or further investigation as a result of valuation queries such as unadopted roads, flooding, proximity of commercial premises, leased solar panels etc.
iii. Properties subject to Title queries
iiii. Properties in the Scottish highlands or on Scottish Islands
6. In the case of a physical valuation we reserve the right to exclude compensation in cases where our valuer has been unable to gain reasonable access to the property for the purposes of conducting a market valuation within 14 working days of the date of application. This would include:
i. An inability to speak to the client to arrange a suitable valuation appointment despite several attempts (see notes at the foot of this document relating to our Valuations Service Level Agreement)
ii. An inability to arrange an earlier appointment for example as a result of illness, holidays or local/national COVID lockdowns.
iii. An inability, due to restrictions or resource issues caused by events beyond our control that prevent our valuation partner making a prompt call to the client to book a valuation appointment.
In the case of a remote valuation we reserve the right to exclude compensation in cases where there is an insufficient digital footprint to obtain a valuation or where additional photographs or a property questionnaire is required, which could delay the issue of an offer.
7. Payment of compensation for breaches of the service promise will be made by way of a cheque issued to the customer within 14 working days of completion and will be detailed in the letter.
8. more2life adheres to the principles of Treating Customers Fairly and the service promise is an example of this approach. Applications which fall outside of the 14 working day deadline and which are not excluded by the terms and conditions detailed above will qualify for the stated compensation. However, if an adviser feels a client has been unfairly denied compensation under this service promise, they should contact our Director of Sales, Paul Glynn ([email protected]
) with full details of the case and the stated reasons for compensation qualification. An investigation and decision on appeals will be made within 10 working days of receipt of this communication.
Our Valuation Service Level Agreement (SLA)
We work closely with our valuation partners to agree service standards that ensure a speedy, efficient and accurate valuation process. When an application is submitted on our fastpath portal, our valuers are automatically instructed to carry out a valuation and they will begin attempting to make contact with the client using the details provided on the application.
In respect of Point 6.i. (above), our current agreed SLA with our valuation partners dictates that they will attempt to make contact with the client at least once per day in the first fourteen working days following an instruction from us and will regularly refer back to us during this time for alternative contact details if they are unable to get through. Due to current ongoing resource difficulties caused by Covid-19, some calls to customers to book a valuation appointment may be delayed by up to 3 days and in such cases the Service Promise does not apply (see Point 6.iii. above).