Intermediary Terms & Conditions

Terms of Business for Registered Intermediaries (the “Terms”).

These Terms are effective from 17th November 2021.

These Terms define the basis of the business relationship between The Cambridge Building Society (“We”, “us”, “our(s)” or “The Cambridge”) and the Employee of the Principal, or, the Principal (if such Principal is a sole trader) who submitted an Application to become an Intermediary (“Intermediary” or “You” or “your(s)”). They also set out the basis upon which you are permitted to access our Website.

We will only accept Applications from Intermediaries who are sole traders acting as Authorised Persons, Appointed Representatives and Registered Firms (as defined below) or Employees of Authorised Persons, Appointed Representatives and Registered Firms.

By agreeing to be bound by these Terms and submitting Mortgage Applications to us you are contracting with The Cambridge for yourself as Intermediary, and also for and on behalf of the Principal as its agent in respect of those provisions of these Terms applicable to the Principal.



1.1 Definitions

Applicant means the individual(s) whose Mortgage Application you submit to The Cambridge;
Application means the application form completed by the Intermediary, a copy of which is held on the Online Intermediary Portal;
Applicable Laws means:
(a) any statute, regulation, by law, ordinance or subordinate legislation which is in force for the time being to which you or The Cambridge is subject;
(b) any applicable policy, rule or guidance of any regulatory body (in particular the principles (including but not limited to those relating to treating customers fairly), rules, guidance and evidential provisions issued by the FCA or any industry code or standard required by any commonly recognised relevant trade body including the FCA Guidance on the fair treatment of vulnerable customers)
Appointed Representative as defined by section 39(2) of the Financial Services and Markets Act 2000;
Authorised Person means a person authorised as defined in Section 31(2) of the FSMA and holds all authorisations and permissions required under the FSMA (and/or any rules or regulations made under it) in order to submit Mortgage Applications to The Cambridge pursuant to these Terms;
Business Day means a day other than a Saturday, Sunday or public holiday in England when banks in London are open for business;
Commencement Date means the date that the Application is accepted by The Cambridge;
Data Protection Legislation means all applicable data protection and privacy legislation in force from time to time in the UK including the General Data Protection Regulation ((EU) 2016/679) (“GDPR”); the Data Protection Act 2018; the Privacy and Electronic Communications Directive 2002/58/EC (as updated by Directive 2009/136/EC) and the Privacy and Electronic Communications Regulations 2003 (SI 2003/2426) as amended. The terms “personal data”, “controller”, “processing or process” and “personal data breach” shall have the meanings given to them in the GDPR;
Employee(s) means directors, partners, employees, contract staff, independent contractors and other individuals engaged to fulfil the Principal’s duties in connection with these Terms;
FCA means the Financial Conduct Authority;
FSMA means Financial Services and Markets Act 2000;
Mortgage Application means an application for a new mortgage, product transfer, further advance, or other material change to an Applicant’s mortgage;
MCD Order Mortgage Credit Directive Order 2015
Online Intermediary Portal means the online portal, if any, provided by The Cambridge for use by the Intermediary to submit Mortgage Applications in accordance with these Terms;
Principal the Authorised Person, Appointed Representative or Registered Firm set out on the Application;
RAO means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544);
Registered Firm means a person who is named on the register of consumer buy-to-let mortgage firms maintained under Article 8 of the MCD Order and holds all authorisations and permissions required under the FSMA (and/or any rules or regulations made under it) in order to submit consumer buy to let Mortgage Applications to The Cambridge pursuant to these Terms;
Regulated Mortgage Contract means a mortgage contract falling within article 61(3) of the RAO;
Website means our website (as amended from time to time) or any successor website or other URLS notified to you from time to time, and includes the Online Intermediary Portal.

1.2 In these Terms (except where the context otherwise requires) use of the singular includes the plural (and vice versa) and use of any gender includes the other genders.
1.3 General words are not to be given a restrictive meaning because they are followed by particular examples, and any words introduced by the terms 'including', 'include', or any similar expression shall be construed as illustrative and the words following any of those terms shall not limit the sense of the words preceding those terms.
1.4 All references to any statute or statutory provision shall be deemed to include references to any statute or statutory provision which amends, extends consolidates or replaces the same and shall include any orders, regulations, codes of practice, instruments or other subordinate legislation made under it.
1.5 Clause and paragraph headings are included for convenience only and are not to affect the construction or interpretation of these Terms.


2.1 These Terms apply to your appointment as an Intermediary and all Mortgage Applications submitted by you, whilst your appointment continues.
2.2 You acknowledge and agree that your continued status as an Intermediary is dependent upon your adherence, and the Principal’s adherence to these Terms, and that every Mortgage Application you submit is subject to these Terms.
2.3 You acknowledge that your appointment as an Intermediary is not exclusive, and we may appoint others to provide services similar to those you provide.
2.4 You and the Principal acknowledge that we make no commitment as to fees the Principal may earn under these Terms.
2.5 Once your Application has been accepted, you may submit Mortgage Applications on behalf of Applicants to us via the channels that we may make available to you (which may be paper-based or electronically via the Online Intermediary Portal).
2.6 We may from time to time make such relevant searches and checks in respect of you and/or your Principal (including in relation to credit worthiness) as we see fit and you will provide us with any information requested in order to satisfy us under this clause 2.6.


3.1 You shall have no authority, and shall not hold yourself out, or permit any person to hold themselves out, as being authorised to bind The Cambridge in any way, and shall not do any act which might reasonably create the impression that you are so authorised.
3.2 You agree that any decision in principle (DIP) issued is not binding on either us or you. A DIP is only valid for 30 days, after which time a revised approval must be obtained and a new credit search will be undertaken.
3.3 You understand and agree that for a Mortgage Application that is for a product switch, an index-linked valuation will be used to determine the mortgage products that are available to an Applicant, unless The Cambridge holds a confirmed valuation of less than 90 days old in which case the confirmed valuation will be used instead.
3.4 If making a Mortgage Application that is for a product switch via the Online Intermediary Portal, the products for which the Applicant is eligible will be displayed in the portal.
3.5 Once you submit a Mortgage Application that is for a product switch, the product switch cannot then be cancelled or amended.
3.6 In accordance with industry best practice, we may request sight of the Principal’s customer files, on reasonable notice, to audit compliance with Regulated Mortgage Contract disclosure obligations by you and the Principal. You shall procure such access as is necessary to fulfil the requirements of this clause 3.6. You acknowledge that we may be obliged to report any adverse findings identified from an audit to the FCA. You shall allow us or our authorised representatives or agents to have access to your Principal’s premises at all reasonable times in order to review and take copies of any relevant information, books and records related to your obligations under these Terms, including to ensure your compliance with Applicable Laws.
3.7 You acknowledge that we may change our mortgage products, criteria and rates at any time without prior notice to you. You are aware that the product applied for will only be reserved once a fully completed Mortgage Application has been received by us and The Cambridge may withdraw a product at any time before a Mortgage Application has been agreed by The Cambridge.
3.8 Notwithstanding anything else in these Terms we reserve the right, at our sole discretion at any time, to decline any Mortgage Application submitted by you with or without giving prior notice.
3.9 We will not ask you or the Principal to hold Applicant monies in connection with a Mortgage Application at any time.
3.10 On completion of a Mortgage Application the Applicant will become a member of The Cambridge, and you acknowledge that we may enter into correspondence and communication with them without your knowledge or approval. We will send the Applicant a copy of our Privacy Policy promptly upon receipt of the relevant information about the Applicant.

4.1 You warrant, represent, and undertake that you are not currently, nor have you ever been, subject to any disciplinary action by your Principal of a nature which might impair your integrity as a Mortgage Adviser/Introducer.
4.2 You warrant, represent and undertake that by agreeing to these Terms and submitting Mortgage Applications you are authorised to enter into this contract on behalf of your Principal, and thereby bind your Principal to these Terms.
4.3 The Principal warrants, represents, and undertakes that it is not currently, nor has it ever been:
4.3.1 deregistered or removed from a lender panel/network or mortgage club;
4.3.2 subject to any regulatory sanction.
4.4 You will inform us immediately in writing if any of the events contemplated by clause 4.1 and/or 4.3 arise.
4.5 The Principal warrants, represents and undertakes that it:
4.5.1 maintains professional indemnity insurance cover of at least £1 million for claims arising from a single event or series of related events in a single calendar year, and you agree to promptly provide us with, or procure for us, a copy of the relevant policy if requested. You or the Principal will notify us immediately if any policy is (or will be) cancelled or its terms are (or will be) subject to any material change; and,
4.5.2 has all permissions, licences, consents or authorisations required under the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974, or any other Applicable Law.
4.6 You warrant, represent and undertake, as at the date of your Application, and at all times thereafter whilst you are an Intermediary:
4.6.1 that the information you provide regarding your Application, and any subsequent information you give to us during your appointment is accurate and not misleading in any way;
4.6.2 with respect to each Mortgage Application you submit to us that: you act with the authorisation of the relevant Applicant(s) and have all necessary and relevant consents and notices in place to share Applicant data with us (including Personal Data); where such Mortgage Application is submitted on an execution-only basis, you have explained the consequences of this to the Applicant in accordance with Applicable Laws; you are an Employee of the Principal, authorised to act on behalf of such Principal as agent, or you are the Principal (as the case may be); if you submit consumer buy-to-let Mortgage Applications, you are an Employee of a Registered Firm (or a sole trader acting as a Registered Firm); you are suitably skilled, qualified and experienced to provide mortgage advice to Applicants, arrange Mortgage Applications, and fulfil all obligations under these Terms; you have all permissions, licences, consents or authorisations required under the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974, or any other Applicable Law; and (if you are an Employee of a Principal who is an Appointed Representative, or are a Principal who is an Appointed Representative) you have all permissions or authorisations required from the Authorised Person on whose behalf you act as agent.
4.7 You and the Principal will:
4.7.1 conduct all business pursuant to these Terms with reasonable skill and care, and at all times in accordance with good industry practice;
4.7.2 comply with Applicable Laws;
4.7.3 comply with our policies and procedures provided to you from time to time;
4.7.4 obtain and ensure the continued validity of any necessary authorisation, licence, consent, permit, registration, permission or approval required by you in connection with these Terms or the activities to be carried out pursuant to it and provide such evidence of these as we may at any time request;
4.7.5 ensure that all information supplied in a Mortgage Application is full and complete and that all Mortgage Applications include any required supporting documentation;
4.7.6 use best endeavours to ensure that information supplied to you by an Applicant and submitted to us is accurate;
4.7.7 where applicable, disclose to the Applicant the fact and amount of any procuration fee the Principal will receive in respect of the Mortgage Application;
4.7.8 inform all Applicants, prior to submitting any Mortgage Application, that we will carry out a soft credit search on them, and that if the Mortgage Application proceeds, a further hard credit search will be made. Your explanation to Applicants should include the difference between the soft credit search and the hard credit search. If any Applicant objects to this, you must not submit the Mortgage Application;
4.7.9 ensure that the product applied for is suitable for each individual Applicant;
4.7.10 inform Applicants whose Mortgage Application relates to a product switch that: once submitted, a product switch application cannot be cancelled or amended; and, any fees payable in relation to a product switch application are non-refundable.
4.7.11 only submit Mortgage Applications after you have fully complied with the pre-sale disclosure requirements contained within the FCA Rules relating to Regulated Mortgage Contracts;
4.7.12 take all reasonable steps to ensure that each Mortgage Application meets our lending criteria (current at the time of such Mortgage Application) as we will not accept any responsibility for delays caused by incomplete or inaccurate information supplied by you;
4.7.13 verify and record the identity of all Applicants in accordance with the Money Laundering Regulations 2007 (and any future amendments to them) before submitting a Mortgage Application and/or forwarding any supporting documentation to us and be solely responsible for carrying out Applicant due diligence checks as required by Applicable Law. We may rely on your due diligence (including verification of identity) for the purposes of fulfilling our own requirements to undertake Applicant due diligence;
4.7.14 keep all records of Applicant due diligence for the period specified by Applicable Law, and provide to us, on request, copies of all data and documents related to any Applicant due diligence that we require from time to time.
4.8 You will not do, or omit to do, anything, which will or is likely to:
4.8.1 adversely affect any authorisation, licence, consent or permission necessary or desirable for the conduct of our business; or
4.8.2 cause us to breach any Applicable Laws; or
4.8.3 have an adverse impact upon our reputation;
4.8.4 circumvent our procedures and requirements for processing Mortgage Applications nor to influence our choice of valuers and solicitors should the Mortgage Application proceed;
4.9 Neither You, nor the Principal shall produce any marketing material for our services, or use our name, logo or trade marks on any marketing material for your services without our prior written consent.
4.10 Where a digital valuation is carried out as a means of assessing whether a property will be suitable mortgage security, the information obtained is for our use only. Information on the property appraisal or value used for lending purposes will not be disclosed to you.

5.1 We will only accept Mortgage Applications from Intermediaries who are appropriately qualified to provide later life lending advice.
5.2 You warrant, undertake and represent that you are appropriately qualified to provide later life lending advice.

6.1 We will process Personal Data of Intermediaries in accordance with our Privacy Notice for Intermediaries which is available on our Website.
6.2 The Intermediary acknowledges that the Principal is acting as a controller in relation to the Processing of Applicants’ personal data by the Intermediary, and warrants that it shall procure that the Principal shall comply with all of the obligations imposed on a controller under the Data Protection Legislation, including but not limited to ensuring that:
6.2.1 it has all necessary notices and consents in place to enable lawful transfer of the Applicant’s Personal Data to The Cambridge; and
6.2.2 it has in place appropriate technical and organisational measures to protect against unauthorised or unlawful processing of Applicants’ personal data and against accidental loss or destruction of, or damage to, Applicants’ Personal Data.
6.3 The Cambridge shall notify the Principal and the Intermediary shall procure that the Principal shall notify The Cambridge:
6.3.1 without undue delay on becoming aware of any Personal Data Breach arising in connection with the transfer of Applicants’ Personal Data between them including via the Online Intermediary Portal and provide reasonable co-operation in the investigation, reporting and management of such a Personal Data Breach; and
6.3.2 of any rectification or erasure of Applicants’ personal data or restriction of Processing of Applicants’ Personal Data carried out in accordance with Articles, 16, 17 or 18 of the GDPR.


7.1 In consideration for the submission of Mortgage Applications to us, on successful completion of a Mortgage Application (but only where such application is for a new mortgage, product transfer, or further advance) we will pay the Principal (or the Principal’s Network/Mortgage Club as applicable) a procuration fee in accordance with either our prevailing tariff as amended from time to time (and as specified within any accepted offer of mortgage that we may issue), or in accordance with any agreed written terms that we may have entered into with any Network or Mortgage Club of which the Principal is a member.
7.2 We will only ever pay procuration fees into a UK business bank account electronically and we will not pay procuration fees into a private bank account. From time to time we may ask you to provide evidence of the Principal’s business bank account details for verification purposes.
7.3 With regards to a product switch, a procuration fee is only payable on the balance of the segment(s) that is being switched, and no procuration fee is payable if a procuration fee has previously been paid on this segment(s) within the last six months.
7.4 If any dispute arises as to the amount of procuration fees payable by The Cambridge to the Principal or any Network or Mortgage Club, the same shall be referred to our risk team for settlement and their decision, save in the case of manifest error, shall be final and binding on both parties.
7.5 We will use reasonable endeavours to give you 30 days’ notice of any change in the prevailing tariffs (such notice may be sent by email to the email address used to register your account) and you shall procure that such notice is passed on to the Principal.


8.1 All of our intellectual property rights (including all images, copy, underlying source code and downloadable content on our website) together with all information and services provided on our Website remains our property at all times and may only be used or reproduced with our express permission and for the sole purpose of generating and submitting Mortgage Applications to us.
8.2 You must not misuse our Website by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful. No unauthorised access will be permitted, and any identified access of this nature may be subject to legal proceedings.
8.3 Products, services, lending criteria and policies are subject to availability, change, amendment or withdrawal without notice.
8.4 We will make every effort to ensure that:
8.4.1 the Website information is accurate and kept up to date; and
8.4.2 the Website is error, virus and bug free but we accept no liability (whether in contract, tort, negligence breach of statutory duty or otherwise) for any direct, indirect or consequential loss or damage in the event of any error, virus or bug or any inability to use the Website (including the website being unavailable for technical reasons) or any omissions or inaccuracies of the website information or the services provided on it.
8.5 We cannot guarantee that our Website can be used on all computers or browser software. It is your responsibility to ensure that your equipment is compatible with the services available from our Website and you are responsible for any costs that you may incur to ensure that compatibility is maintained in the future.
8.6 You must treat your user identification code, password or any other piece of information used to access any part of the Website as confidential. You must not disclose it to any third party.
8.7 We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these conditions of use.
8.8 If you know or suspect that anyone other than you knows your user identification code or password, you must promptly notify us at
8.9 We may withdraw or suspend access to the Online Intermediary Portal:
8.9.1 at any time for security reasons; or
8.9.2 upon the termination of your status as an Intermediary; or
8.9.3 where we believe that the service is being misused; or
8.9.4 if you have not logged in and used the Online Intermediary Portal for 12 consecutive months.


9.1 We may immediately terminate these Terms if:
9.1.1 you do not place any new Mortgage Applications with us during any 12 month period;
9.1.2 the Principal ceases to be appropriately insured (or you fail to provide us with evidence of annual renewal upon request);
9.1.3 you and/or the Principal are declared bankrupt or subject to any other financial arrangement with your/their creditors;
9.1.4 we become aware that your and/or the Principal’s regulated status with the FCA has been ended (for whatever reason) or if you or the Principal become subject to regulatory sanction;
9.1.5 you breach the conditions of use of our website or any of the other Terms;
9.1.6 we consider that you have abused the privilege of being our Intermediary; or
9.1.7 we have any other business reason to cancel any or all Intermediary registrations.
9.2 Either party may terminate these Terms for convenience by giving 30 days’ notice in writing to the other.
9.3 Consequences of termination:
9.3.1 Following termination of these Terms, you are no longer entitled to submit Mortgage Applications to us, and your login details for the Online Intermediary Portal will be deactivated.
9.3.2 If we terminate these Terms pursuant to clause 9.1.4, we will not be liable for any procuration fees for Mortgage Applications submitted on or after the date you and/or your Principal ceased to be an Authorised Person, Appointed Representative or Registered Firm as the case may be.
9.3.3 Subject to clause 9.3.2, we will pay any procuration fees due for successful Mortgage Applications (but only where such applications are for a new mortgage, product transfer, or further advance) submitted prior to the date of termination.
9.3.4 Any provision of these Terms that expressly or by implication is intended to come into or continue in force on or after termination of these Terms shall remain in full force and effect.
9.3.5 Termination of these Terms shall not affect any rights, remedies, obligations or liabilities of the parties that have accrued up to the date of termination, including the right to claim damages in respect of any breach of these Terms which existed at or before the date of termination.


10.1 Changes. We may revise these Terms at any time and will give you notice before they take effect by either notifying you or posting an amended copy of these Terms on the Website. By submitting Mortgage Applications to us, you accept the most recent version of these Terms as available on the Website or as otherwise notified to you.
10.2 Governing law and jurisdiction. These Terms 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) are governed by and construed in accordance with English law, and the courts of England shall have exclusive jurisdiction to settle such disputes or claims.
10.3 No partnership or agency between the parties. Nothing in these Terms is intended to, or shall be deemed to, establish any partnership or joint venture between any of the parties, constitute any party the agent of another party, or authorise any party to make or enter into any commitments for or on behalf of any other party.
10.4 No automatic waiver. No failure or delay by a party to exercise any right or remedy provided under these Terms or by law shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.
10.5 Severance. Deemed modification or deletion. If any provision or part-provision of these Terms is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of these Terms.
10.6 Third party rights. No one other than you and The Cambridge shall have any right to enforce the terms of these Terms.
10.7 Entire Agreement. These Terms and the Application constitute the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.