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Terms and Conditions

Terms and Conditions

When we refer to Opal Loans, ‘we’ or ‘our’ in our Terms & Conditions we mean Opal Loans & Mortgages

Opal Loans & Mortgages is a trading name of Aspire Money Limited registered in England & Wales as a Limited Company our registration number is 06457376. We are authorised and regulated by the Financial Conduct Authority our reference number is 681346.

We are registered as a Data Controller with the Information Commissioner’s Office (ICO) and our reference number is Z1262766.

Opal Loans is a mortgage broker who provide advice on First and Second charge mortgage products from a limited number of lenders after we have assessed your needs.

We will assess your application, based on the information you have provided, to determine a suitable mortgage product for you. Our experience in the mortgage market allows us to provide our customers with the best possible journey from the moment you enquire about our services right through to the completion of your mortgage. You are the main focus of what we do as a business.


Cost of our service

First Charge Mortgage

You will be charged a fee for the service that we provide. The fee is 7.5% of the loan amount (up to a maximum of £1975.00), payable on completion of your loan, for example a fee of £1125.00 will be payable on a loan amount of £15,000.

This fee will include: -

• Initial fact find review

• Product research

• Affordability assessment

• Presentation & recommendation

• Application submission to the lender

• Suitability report

• Progressing the application with the lender

• Keeping in regular contact with you, providing any assistance and advice you require through to completion


The lender may require an upfront valuation and lender fee, where this applies, you will be notified of this before you complete a mortgage application.

We will also be paid a % of the loan amount as commission from the lender on completion of your mortgage.

If your mortgage does not complete, no fee will be charged by us.

All fees and costs associated with a mortgage will be provided to you before you complete a mortgage application.

Cost of our service

Second Charge Mortgage

You will be charged a fee for the service that we provide. The fee is 9.5% of the loan amount (up to a maximum of £3750.00), payable on completion of your loan, for example a fee of £1425.00 will be payable on a loan amount of £15,000.

This fee will include: -

• Initial fact find review

• Product research

• Affordability assessment

• Presentation & recommendation

• Application submission to the lender

• Suitability report

• the cost of any valuation and mortgage reference required in relation to the loan

• Progressing the application with the lender

• Keeping in regular contact with you, providing any assistance and advice you require through to completion


We will also be paid a % of the loan amount as commission from the lender on completion of your mortgage

If your mortgage does not complete, no fee will be charged by us.

All fees and costs associated with a mortgage will be provided to you before you complete a mortgage application.

Alternative finance options

We will disclose to you the availability of alternative finance options, where you are looking to increase your borrowing. We will tell you what alternative options may be available and more appropriate as below:

We will inform you that you may wish to consider:

1. A further advance from your existing lender, unless we know your existing lender will not do this.

2. An unsecured loan – We will not provide you with any personal product recommendation, we will only provide you with loan options so that you can make an informed decision on which is the right loan option for you.
We will not charge you a fee for this service. If we are successful in finding you an unsecured loan, our income will be derived from commissions paid by the lender which will be a % of the loan amount paid out to you.

We need to provide you with certain information and have provided this in summary disclosure, should you wish to see our full disclosure, please click on: Full Disclosure Document

Companies and individuals who process and retain personal data about their customers under the Data Protection Act are required to tell customers how their information will be used and for what purposes. Our Privacy Policy describes how your personal data is processed and your rights relating to that personal data. We will use the information you provide to us for the purposes stipulated in our Privacy Policy , this is important information that you should read carefully before you submit your application.

When dealing with customers, Opal Loans will disclose any conflict, where it arises and becomes apparent, to a customer prior to undertaking business or in the event that disclosure is not appropriate to manage the conflict, Opal Loans will decline any transaction that gives rise to a conflict of interest.

We may disclose your information to a lender or lenders in accordance with your application, another broker if we are not able to arrange finance for you, other carefully selected product providers and regulatory bodies to ensure we process information correctly and are complying with regulatory requirements and other legal authorities if required by law.

We regularly review the information on our website to ensure that it is up to date.