General Terms and Conditions

Purpose and scope of application

This document sets out the general terms and conditions (hereinafter, the “GTC”) governing the relationship between Ferco Gestión, S.L. (hereinafter, “Ferco”) and the natural or legal persons who enter into a service agreement with Ferco for intermediation services aimed at obtaining mortgage financing (hereinafter, the “Client”).

These GTC are incorporated into the service agreement and become binding from the moment it is signed. They are published in compliance with Articles 27 and 28 of Law 5/2019 of 15 March, regulating real estate credit agreements. In the event of any discrepancy between these GTC and the individual agreement signed with the Client, the individual agreement shall prevail.

The scope of application is limited to intermediation services for the contracting of credit facilities or loans secured by a mortgage over residential real estate located in Spain.

Nature of the service and independence

Ferco acts as a non-tied real estate credit intermediary, within the meaning of Article 26 of the LCCI. Ferco has no exclusive relationship with any lending institution and works with a broad panel of financial institutions, enabling it to identify the options that best suit the Client’s profile and the market conditions at any given time.

The service includes analysing the Client’s financial situation, identifying available financing options, managing the submission of the file to the selected institutions and providing support throughout the entire process until the mortgage loan is signed, including the review of the European Standardised Information Sheet (FEIN) and advice on the conditions offered.

Ferco does not grant loans or act as a credit institution, will not be a party to the legal relationship between the financial institution and the Client, and does not provide legal, tax or investment advice.

Intermediary remuneration

In accordance with Article 28.2 of the LCCI, Ferco informs the Client of the nature and origin of its remuneration, which shall be specified in the individually signed service agreement:

External expenses associated with the transaction (valuation, notary, registry, administrative agency, taxes and insurance) are not included in Ferco’s fees and shall be borne by the party responsible for them under the applicable regulations.

The individual service agreement also governs cases of early termination and their possible financial consequences for the parties, which the Client must read and accept at the time of signing.

Right of withdrawal

In accordance with Article 10 of the LCCI, the Client has a period of fourteen (14) calendar days from the signing of the service agreement to withdraw from it, without having to state any reason and without any financial penalty.

To exercise this right, the Client must notify Ferco in a reliable manner within the stated period:

Once the withdrawal period has elapsed without the Client having exercised this right, the service agreement shall take full effect in accordance with its terms and these GTC.

Complaints policy

The Client may submit any complaint or claim relating to the services provided by Ferco through the following channels:

If the Client does not receive a satisfactory response or if the stated period elapses without a resolution, the Client may refer the matter to:

— The Complaints Service of the Bank of Spain (www.bde.es), as the supervisory body for real estate credit intermediaries registered in its registry, for complaints relating to compliance with transparency and conduct regulations.
— The Consumer Arbitration Board corresponding to the Client’s place of residence, or other alternative consumer dispute resolution mechanisms made available for contractual disputes.

The use of these out-of-court mechanisms does not prevent the Client from bringing the matter before the ordinary courts if deemed appropriate.

Personal data protection

In accordance with Regulation (EU) 2016/679 (GDPR) and Organic Law 3/2018 of 5 December (LOPDGDD), Ferco informs the Client of the following:

Data controller: Ferco Gestión, S.L. The Data Protection Officer may be contacted at dpd.cliente@conversia.es

Purpose and legal basis: Personal data shall be processed for the management of the contractual relationship (Art. 6.1.b GDPR), compliance with applicable legal obligations (Art. 6.1.c GDPR) and, where applicable, for sending commercial communications based on legitimate interest or the data subject’s consent (Art. 6.1.a and 6.1.f GDPR).

Data disclosure: Data may be disclosed to the financial institutions consulted during the intermediation process —including consultation of the Central Credit Register (CIR) of the Bank of Spain and common credit information systems— to the extent strictly necessary for the provision of the service, and to Ferco’s processors who access the data in the performance of their duties. No other disclosures shall be made without the express consent of the data subject, unless another lawful basis applies.

Retention: Data shall be retained for the term of the agreement and subsequently blocked for the limitation periods applicable to legal actions arising from the contractual relationship.

Rights of the data subject: The Client may exercise the rights of access, rectification, erasure, restriction, portability and objection by contacting dpd.cliente@conversia.es. The Client also has the right to lodge a complaint with the Spanish Data Protection Agency (www.aepd.es).

For additional information, please consult the full privacy policy at www.fercogestion.com.

Applicable regulations

These GTC are governed by Spanish law, in particular:

— Thew 5/2019 of 15 March, regulating real estate credit agreements (LCCI)
— Royal Decree 309/2019 of 26 April, partially implementing the LCCI
— Royal Legislative Decree 1/2007 (TRLGDCU)
— Thew 7/1998 of 13 April, on General Terms and Conditions
— Regulation (EU) 2016/679 (GDPR) and Organic Law 3/2018 (LOPDGDD)

For any dispute arising from the interpretation or performance of the service agreement or these GTC, the parties submit to the courts and tribunals with jurisdiction under the applicable procedural rules. In the case of consumer Clients, the court of the consumer’s place of residence shall have jurisdiction, in accordance with Article 52 of the Civil Procedure Act and the applicable consumer regulations.