These terms apply to anyone who introduces a firm to Refresh Mortgage Network Limited ("Refresh") under the introducer scheme described on this website. By registering as an introducer, or by being named as the introducer on a firm's application, you accept them.
1. Who can be an introducer
Any individual or firm may be an introducer, except: employees, officers and contractors of mortgage lenders, product providers and their groups; anyone subject to financial sanctions; and anyone we have previously removed from the scheme. You must not be, or hold yourself out as, our agent, employee or representative, and you have no authority to bind us.
2. What counts as an introduction
A firm is introduced by you if it applies to join the network through your tracking link or names you as its introducer on its application, and it has not been in contact with us about joining in the six months before that application. One firm, one introducer: the first qualifying introduction stands. Introducing your own firm, or a firm you or your close family own or control, does not qualify.
3. What you earn
For each introduced firm that becomes a member, you earn 25% of the net contribution that firm makes to the network each month, for as long as it remains a member and these terms remain in force. Net contribution means the retention we actually collect from that firm's commission in the month, less that firm's attributable regulatory costs (FCA fees, levies and professional-indemnity insurance) as calculated under the tariff schedule in the Appointed Representative Agreement. If the net contribution for a month is nil or negative, nothing is payable for that month and no deficit carries forward.
4. How and when we pay
We pay monthly in arrears, by bank transfer, within 30 days of the month end, against a self-billing statement we issue to you. We pay only from cash we have actually collected; sums later clawed back, refunded or written off are deducted from future payments. You are responsible for your own tax, and you must tell us if you are VAT-registered. Payments stop when the introduced firm ceases to be a member for any reason, or when these terms end.
5. One public rate
The rate is the same for everyone and is not negotiated. We may change the rate or these terms on 60 days' notice, but changes apply only to firms introduced after the change takes effect; introductions already made continue on the terms in force when they were made.
6. How you must behave
You must: describe the network accurately and only using material we have published or approved; not make, approve or circulate any financial promotion on our behalf; not offer or accept any inducement to or from a firm or its clients in connection with an introduction; comply with the Bribery Act 2010 and data-protection law, and pass personal data to us only with the individual's knowledge; and not do anything that could damage our reputation or regulatory standing. You must not disclose confidential information about the network, its members or its terms other than published material.
7. Our decisions
Whether to accept any firm is entirely our decision, and we owe you no payment or explanation if a firm is declined, withdraws, or later leaves. We will not disclose to you the details of any firm's application, membership or earnings beyond what is needed to calculate your payment.
8. Ending the arrangement
Either of us may end these terms on 30 days' written notice; payments already earned on firms introduced before the notice continue unless we end the terms for your breach. We may end the terms immediately, and withhold or recover payments, if you breach section 6, if an introduction was obtained by fraud or misrepresentation, or if continuing would put us in breach of our regulatory obligations.
9. General
These terms are the whole agreement between us about introductions and replace anything said or written before. We may set off sums you owe us against payments due to you. Neither of us is liable to the other for indirect loss or loss of profit, except for fraud. These terms are governed by the law of England and Wales and the courts of England and Wales have exclusive jurisdiction.