As a firm, we take very seriously the requirements of the Financial Conduct Authority (FCA), in particular, the requirements to treat our customers fairly. We strive to do this in all that we do.
We undertake that all of our actions will be guided by the principle that the interests of our customers are paramount. Our systems and procedures are designed to place our customers at the heart of our business.
In our dealings with you, clients can expect that:
- We will be open and transparent in the way we deal with you;
- We will not place our interests before yours;
- We will communicate clearly and without the use of jargon;
- We will inform you of our charges before undertaking any work for you;
- We will deal with any complaints promptly and fairly
As examples of how the principle and guidelines mentioned above work in practice in our business, we set out below details of what you can expect from us in various areas of our business.
Who we are
Bridgewater Acceptances Limited are processors and underwriters of Non-Regulated Commercial Mortgages and Bridging Loans. We offer a fast and professional processing and underwriting service to clients of professional intermediaries, brokers and financial advisers. We do not offer any advice to our customers and only offer a range of mortgage and loan products exclusive to Bridgewater.
In cases where the products available to ourselves don’t fit our customer’s loan requirements or status, we will endeavour with your agreement to find alternative sources of funding which may require any information we have on file being made available to other funders for their consideration.
Should you not require us to seek alternative finance or provide other funders with any information we have on file regarding yourself (selves) please confirm this to us either by telephone (0161 767 9393) or email ([email protected]).
Bridgewater Acceptances Limited is regulated by the FCA (No. 7242177) for the purpose of the non-regulated mortgage introduction we do not process regulated first or second charge mortgages or loans secured on owner-occupied residential dwellings.
We can accept applications for loans were the security is a second charge over the borrowers’ residential home providing;
- The funds being raised are to be used for business purposes only.
- The borrowers or their immediate family do not live in more than 40% of the overall area of the security and the remaining security is used for commercial/business purposes.
No loans will be made to applicants who clearly are not in a financial position to repay the loan or their application is not viable. We will always try to provide applicants with a loan facility and will not hold any past historic adverse information against them providing full disclosure is provided at the time of application.
Our customers must use their own choice of solicitors to act for them solely. Customer solicitors must have 3 or more regulated partners, in some cases 2 or more may be acceptable providing they know the customer and have acted for them previously. All legal costs are payable by the customer. Our funders will use its’ own legal team.
We are happy to discuss the products we offer and the terms we can offer however in all cases our customers must make their own decision if they wish to proceed forward. We trust your experience with Bridgewater Acceptances will be pleasant and rewarding.
Charges and Fees
Prior to receiving a loan application, the client’s broker will have received “In Principle Terms” based on the initial information provided. These terms do not constitute a formal offer and are subject to underwriting, valuation (when required) and approval. Stated within the terms will be processing and valuation costs, approx legal costs, Bridgewater arrangement fee which is deducted from loan plus any other costs. No valuation costs are payable to Bridgewater. All valuation costs are payable direct to the panel valuer instructed by Bridgewater.
When things go wrong
If a customer wishes to make a complaint about any aspect of our service then they can expect that their complaint will be dealt with professionally, impartially and in accordance with the rules laid down by the Financial Conduct Authority (FCA).
Any complaint should be addressed to Customer Services at Bridgewater Acceptances Limited, First Floor, 118 Bury New Road, Whitefield, Manchester, M45 6AD.
If a customer is in need of financial advice we will refer them to a non-profit debt advisory agency.
Important time scales
Within 4 weeks of receiving a complaint we will send the customer the following:
- A letter confirming receipt of their complaint
- No more than 14 days later we will either provide the customer with a final response or provide an explanation why we are not yet in a position to resolve the complaint and provide an indication when we will be making further contact.
- We will aim to resolve the customer complaint as quickly as possible but in any event no longer than 8 weeks from first receiving the complaint.
- In the event of any complaint not being resolved to the customer’s satisfaction, we will inform the customer that they may refer their complaint to the Financial Ombudsman Service and will enclose a copy of their explanatory leaflet.
We hope that you find using our services a pleasant and straightforward experience. We always welcome comments and observations from our customers regarding our procedures and would encourage you to contact us if you have any comments relating to the way your application has been processed.