MarvelSuccess

Terms and Conditions (General)

Last updated: 30 July 2021

Who we are and how to contact us

https://www.marvelsuccess.co.uk/ is a site operated by Marvel Property Consultancy Ltd. (“We”). We are registered in England and Wales under company number 13517291 and have our registered office at 20-22 Wenlock Road, London, N1 7GU. Our VAT number is [VAT NUMBER].

We are a limited company providing an independent platform to enable prospective investors who are looking to purchase an investment property in the United Kingdom to connect with qualified property sourcing agents (“Services”). We connect prospective investors with qualified property sourcing agents to facilitate enquiries, viewings and negotiation enabling prospective investors to secure an investment property.

To contact us, please email hello@marvelsuccess.co.uk.

By using our site you accept these terms

These terms regulate your use of and access to our website found at https://www.marvelsuccess.co.uk/. By using our site, you confirm that you accept these terms of use and that you agree to comply with them. If you do not agree to these terms, you must not use our site.

We recommend that you print a copy of these terms for future reference.

There are other terms that may apply to you

These terms of use refer to the following additional terms, which also apply to your use of our site:

  • Our Privacy Policy [INSERT AS https://marvelsuccess.co.uk/privacy-policy/. 
  • Our Cookie Policy [INSERT AS https://marvelsuccess.co.uk/cookies-policy/, which sets out information about the cookies on our website.

Registering a user account

You must register for a Marvel account in order to use certain features of the site and Services. You may register as either an investor or property sourcing agent. If registering as an investor, you will be required to provide certain information, including (but not limited to), your first name, last name, nationality, e-mail address, residential address and telephone number. For those users registering as a property sourcing agent, you will be required to provide information relating to (but not limited to) your experience, types of property deals you focus on, your first name, last name, name of business, business e-mail address, username and telephone number. 

Further information may be required from you when you access or use certain features of our site or Services. For more information on what data we collect from you and how we use it please refer to our Privacy Policy and Cookie Policy.

We may make changes to these terms

We amend these terms from time to time. Every time you wish to use our site, please check these terms to ensure you understand the terms that apply at that time.

We may make changes to our site

We may update and change our site from time to time to reflect changes to our products, our services, our users’ needs and our business priorities. We will try to give you reasonable notice of any major changes.

We may suspend or withdraw our site

Our Site is made available free of charge. We do not guarantee that our site, or any content on it, will always be available or be uninterrupted. We may suspend or withdraw or restrict the availability of all or any part of our site for business and operational reasons. We will try to give you reasonable notice of any suspension or withdrawal.

You are also responsible for ensuring that all persons who access our site through your internet connection are aware of these terms of use and other applicable terms and conditions, and that they comply with them.

We may transfer this agreement to someone else

We may transfer our rights and obligations under these terms to another organisation. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the contract.

You must keep your account details safe

If you choose, or you are provided with, a user identification code, password or any other piece of information as part of our security procedures, you must treat such information as confidential. You must not disclose it to any third party.

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 terms of use.

If you know or suspect that anyone other than you knows your user identification code or password, you must promptly notify us at hello@marvelsuccess.co.uk.

How you may use material on our site

We are the owner or the licensee of all intellectual property rights in our site, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

You may print off one copy, and may download extracts, of any page(s) from our site for your personal use and you may draw the attention of others within your organisation to content posted on our site.

You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.

Our status (and that of any identified contributors) as the authors of content on our site must always be acknowledged.

You must not use any part of the content on our site for commercial purposes without obtaining a licence to do so from us or our licensors.

If you print off, copy or download any part of our site in breach of these terms of use, your right to use our site will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.

Do not rely on information on this site

The content on our site is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date.

We are not responsible for websites we link to

Where our site contains links to other sites and resources provided by third parties, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them.

We have no control over the contents of those sites or resources.

User-generated content is not approved by us

This website may include information and materials uploaded by other users of the site, including to bulletin boards and chat rooms. This information and these materials have not been verified or approved by us. The views expressed by other users on our site do not represent our views or values.

How to complain about content uploaded by other users

If you wish to complain about content uploaded by other users, please contact us on https://marvelsuccess.co.uk/contact-us/.

Our responsibility for loss or damage suffered by you

Whether you are a consumer or a business user:

  • We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors and for fraud or fraudulent misrepresentation.

If you are a business user:

  • We exclude all implied conditions, warranties, representations or other terms that may apply to our site or any content on it.
  • We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with:
  • use of, or inability to use, our site; or
  • use of or reliance on any content displayed on our site.
  • In particular, we will not be liable for:
  • loss of profits, sales, business, or revenue;
  • business interruption;
  • loss of anticipated savings;
  • loss of business opportunity, goodwill or reputation; or
  • any indirect or consequential loss or damage.

If you are a consumer user:

  • Please note that we only provide our site for domestic and private use. You agree not to use our site for any commercial or business purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
  • If defective digital content that we have supplied, damages a device or digital content belonging to you and this is caused by our failure to use reasonable care and skill, we will either repair the damage or pay you compensation.

How we may use your personal information

We will only use your personal information as set out in our https://marvelsuccess.co.uk/privacy-policy/.

Uploading content to our site

Whenever you make use of a feature that allows you to upload content to our site, or to make contact with other users of our site, you must comply with the content standards set out in our Acceptable Use Policy https://marvelsuccess.co.uk/use-policy/.

You warrant that any such contribution does comply with those standards, and you will be liable to us and indemnify us for any breach of that warranty. This means you will be responsible for any loss or damage we suffer as a result of your breach of warranty.

Any content you upload to our site will be considered non-confidential and non-proprietary. You retain all of your ownership rights in your content, but you are required to grant us a limited licence to use, store and copy that content and to distribute and make it available to third parties. The rights you license to us are described in Rights you are giving us to use material you upload.

We also have the right to disclose your identity to any third party who is claiming that any content posted or uploaded by you to our site constitutes a violation of their intellectual property rights, or of their right to privacy.

We have the right to remove any posting you make on our site if, in our opinion, your post does not comply with the content standards set out in our Acceptable Use Policy https://marvelsuccess.co.uk/use-policy/.

You are solely responsible for securing and backing up your content.

We do not store terrorist content.

Rights you are giving us to use material you upload

When you upload or post content to our site, you grant us the following rights to use that content:

  • a worldwide, non-exclusive, royalty-free, transferable licence to use, reproduce, distribute, prepare derivative works of, display, and perform that user-generated content in connection with the service provided by the website and across different media including to promote the site or the service

We are not responsible for viruses and you must not introduce them

We do not guarantee that our site will be secure or free from bugs or viruses.

You are responsible for configuring your information technology, computer programmes and platform to access our site. You should use your own virus protection software.

You must not misuse our site by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful. You must not attempt to gain unauthorised access to our site, the server on which our site is stored or any server, computer or database connected to our site. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our site will cease immediately.

Rules about linking to our site

You may link to our home page, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it.

You must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists.

You must not establish a link to our site in any website that is not owned by you.

Our site must not be framed on any other site, nor may you create a link to any part of our site other than the home page.

We reserve the right to withdraw linking permission without notice.

The website in which you are linking must comply in all respects with the content standards set out in our Acceptable Use Policy [INSERT AS LINK TO ACCEPTABLE USE POLICY].

If you wish to link to or make any use of content on our site other than that set out above, please contact hello@marvelsuccess.co.uk.

Which country’s laws apply to any disputes?

If you are a consumer, please note that these terms of use, their subject matter and their formation, are governed by English law. You and we both agree that the courts of England and Wales will have exclusive jurisdiction except that if you are a resident of Northern Ireland you may also bring proceedings in Northern Ireland, and if you are resident of Scotland, you may also bring proceedings in Scotland.

If you are a business, these terms of use, their subject matter and their formation (and any non-contractual disputes or claims) are governed by English law. We both agree to the exclusive jurisdiction of the courts of England and Wales.

Absent Landlord

A landlord described as “absent” is one who cannot be contacted. If the lessees wish to create a Right To Manage Company but are unable to contact the landlord, they are free to make a legal application to acquire the right to manage.

Acceptance

The document you need to sign when accepting a lender’s mortgage offer.

Administration fee  

A payment which is charged to cover the costs of processing a property rental application. This is paid by the tenant and will be taken from the initial monies once the tenancy starts. 

Annual Percentage Rate (APR) 

The total cost of a loan, considering interest charges, arrangement fees and other costs, shown as a percentage.

Agreement Fee 

A payment which is charged to cover the costs of drawing up a tenancy agreement. This is usually shared between the landlord and tenant. 

ARLA Propertymark 

The ARLA Propertymark, formally the Association of Residential Letting Agents, is the UK’s foremost professional body for letting agents. 

Arrangement Fees 

These are fees charged by a mortgage lender or broker to arrange a loan. 

Assign

To transfer the right or interest in a property from one person to another.

Assured Shorthold Tenancy (AST) 

A widely used rental agreement where the tenant is an individual and net rent does not exceed £25,000 a year. It covers a fixed period, so both parties know the date the property will be vacated. 

Base Rate 

The rate of interest which the Bank of England charges for lending to other banks. These banks then use it as a benchmark for the interest rates they charge when lending money to consumers, often stipulating an interest rate “X% above the base rate”.

Break Clause 

A clause sometimes agreed between the landlord and tenant to be inserted in a fixed term agreement, typically if the initial fixed term is for a year or more. A break clause will usually allow either landlord or tenant to give written notice after a particular date or period of the tenancy in order to end the tenancy earlier than the original fixed term. 

Bridging Loan  

A temporary short-term loan enabling someone to purchase a property before selling his or her existing property. 

Building Inspection/Structural Survey 

A report on the physical condition of a property. The surveyor will look at all accessible parts of the property and give a written report on defects or issues affecting it. See also HomeBuyer Report. Not to be confused with a mortgage valuation (see below).

Bungalow 

A bungalow is usually a single-storey building detached from other structures. Fewer bungalows are being built as they are not space and cost-efficient for developers. The lack of stairs is a welcoming feature for the elderly or people with impaired mobility.

Buy-to-Let

It is the activity of purchasing a property specifically to rent it out rather than live in it yourself. Landlords can benefit from a stable income from rental receipts and rising house prices when they sell it out later.

Capital 

Capital, also known as equity, is an asset that is less liquid than cash. It represents the amount of money you have put into a property, investment or deposit.

Chain 

A chain is formed when several property sales and purchases are inter-dependent. A chain can be complicated but a good estate agent will be able to help keep it moving.

Closing Date (Scotland only) 

A time and date by which your solicitor must submit the buyer’s best offer in writing to the seller’s solicitor. 

Completion 

The point at which the sale of the property is concluded and the buyer receives the keys.

Completion Statement 

A document which your solicitor or conveyancer will provide as a record of all the financial transactions and costs. 

Conditions of Sale

The specific items in a sale contract that govern the rights of the buyer and the duties of the seller. 

Contract 

The legal document detailing the agreement of terms between the seller and buyer. When a sale is agreed, a draft contract is sent to the buyer by the seller’s legal representative and at exchange of contracts both parties are bound to a date on which to complete the sale.

Contract Race

Where two or more purchasers are given a draft contract and the first one to exchange contracts buys the property. 

Conveyancer 

A representative, solicitor or licensed conveyancer, who deals with the legal aspects of buying or selling a property. The buyer and seller will each appoint their own conveyancer.

Conveyancing 

The legal process of transferring the ownership of a property. 

Cottage 

A traditional and usually old type of building typically found in rural areas. This small and cosy structure is often used as a holiday home nowadays. 

Covenants 

Rules governing the property in its title deeds or lease. 

Credit Search References 

References requested for a tenant applying to take up rented accommodation. Many agents and individual landlords use external companies who will contact the applicant’s employer, landlord and check the tenant’s credit history, providing a report on their financial suitability to rent.

Date of Entry (Scotland only) 

The date on which you become the owner of the property and can move in, having paid all money due. 

Deeds 

The legal documents that prove the ownership of the property. 

Deposit 

When buying: The amount of money paid by the buyer on exchange of contracts, usually 10% of the purchase price.

When renting: A monetary sum held by the landlord or agent for security against damage to a property or a breach of the tenancy terms. This is usually the equivalent to six weeks’ rent but may vary. If the deposit is for an Assured Shorthold Tenancy (AST), then it must be protected by one of the approved tenancy deposit protection schemes. 

The Deposit Protection Service 

The DPS is the only custodial scheme authorised by the Government; it is free to use and open to all landlords and letting agents. It requires a tenant’s deposit to be paid over to the DPS for the duration of the tenancy. This amount is then paid back at the end of the tenancy when an agreement between both parties has been reached.

Detached House

A detached house is a single-family duplex house that does not share any walls with another structure. It is often the ideal solution for families with children because of the outdoor space and level of privacy it offers.

Dilapidations 

Items that have been damaged during a tenancy. The tenant is usually responsible for the cost of repair or replacement. 

Disbursements 

The items in addition to legal fees in conveyancing. These may include Stamp Duty Land Tax, Land Registry fees, search fees, mortgage redemption costs and any other expenses. All conveyancers should be able to estimate the likely level of disbursements before the transaction commences. 

Disposition (Scotland only) 

The new title deed, which is required in order to transfer the title of the property into your name. 

Draft Contract 

The initial version of the contract. This may be amended during the course of the sale but becomes final at the point of exchange of contracts. 

Easement 

A right that affects a property – such as the right of neighbours to pass over an access path or the right of the water company to have their pipes and drains running under the property. 

Enquiries

Questions which are raised by the buyer’s conveyancer, often about survey or property information forms. 

EPC 

The Energy Performance Certificate (EPC) shows the energy efficiency and carbon emissions of a property and gives an indication of the fuel bills. It is displayed as two graphs – the energy efficiency and environmental impact of the property. Each is graded from A (the best) to G (the worst). 

Equity 

Your equity in your property is how much of it you own. It is the difference between the value of your home and the mortgage you still owe. Negative equity occurs when you owe more to your lender than the sale price of the property.

Exchange of Contracts 

The buyer and seller both sign the contract for sale and at a certain time and date the conveyancers action the exchange. At this point, the sale is binding and no terms may be altered.

Fixed Price (Scotland only)

The price the seller should accept for their property, although there is no guarantee and it might be possible to negotiate. 

Fixtures and Fittings 

When buying: Fixtures are items that have become part of a building or land and are therefore included in the sale. Fittings are not attached to the building or land and so are not included in the sale unless otherwise agreed. The seller will complete a fixtures and fittings form that will confirm what is included in the sale, what isn’t included, and what is for sale separately. 

When renting: Items usually provided in a letting that may include curtains, carpets, blinds, light fittings, kitchen units and appliances. In some cases it may also include furniture. It is advisable to check what is provided and not to assume that items will be provided. 

Flat 

A flat is an individual housing unit within a single building. The lack of a large outdoor garden means it is easier to maintain and is ideal for single individuals or small families with a hectic schedule. 

Freehold 

The broadest form of property tenure guaranteeing that occupation continues for an indeterminate period of time. This contrasts with leasehold, which is always subject to a specified period of occupation. 

Gas Safety Record

A certificate that states all gas appliances, pipework and flues are safe. It is a legal requirement for all landlords and must be provided every year by a CORGI registered engineer after a safety check. 

Gazumping 

Where a sale is agreed to a buyer at a certain price and then the seller accepts a higher offer from another buyer. Note that until contracts are exchanged estate agents are bound by law to tell a seller about any offer they receive for a property. 

Gazundering 

Where a buyer reduces their offer just on the point of exchanging contracts.

Ground Rent 

The annual charge levied by the freeholder on the leaseholder of a property.

HomeBuyer Survey/Report 

A report designed in a standard and easily read format that tells a buyer about the physical condition of a property. Lists defects and grades their seriousness and need for attention. Not as detailed as a structural survey. Not to be confused with a mortgage valuation (see below). 

Home Report (Scotland only) 

Information on the property, which contains a property questionnaire prepared by the seller, a report on its condition and an energy report. 

House in Multiple Occupation (HMO)

An HMO is a property rented by at least 3 people who are not from the same family but share toilet, bathroom and kitchen facilities with other tenants. 

Inventory 

A list of the contents of a rental property. The inventory will note the condition of items and will form the basis of a dilapidation report at the end of the tenancy. It often includes photographs of specific items and existing damage/defects. 

Land Registry 

A government office which is responsible for holding records of land ownership and any charges, including mortgages, against the property.

Land Registry Fee

A fee charged by the Land Registry to record the change of ownership of a property. 

Lease 

The legal document governing the occupation by the tenant of a premises for a specific length of time. At the end of the period the property reverts to the owner. 

Leasehold 

The use and occupation of a property by way of a lease agreement for a certain period of time. A lease is frequently applicable to flats but can also apply to houses. The term of a lease varies but is commonly 99, 125 or 999 years.

Listed building 

Buildings of special architectural or historic interest. A listed building may carry certain obligations and restrictions governing its use, repair, and maintenance. 

Local Authority Search 

A buyer’s conveyancer makes a formal enquiry to the local authority to find out if there are any matters affecting the property that is being purchased.

Maintenance Charge or Service Charge 

Many leasehold properties (especially flats) are subject to such a charge which pays for items such as the insurance and maintenance of the building. 

Maisonette 

A maisonette is a two-storey, self-contained flat with its own staircase and entrance. It is not as big and pricey as a house while offering some level of privacy. 

Missives (Scotland only) 

At the point when you agree in writing via your solicitor to all the points in the contract, the agreement is known as the conclusion of missives and you are now bound by the terms of the contract. 

Mortgage Valuation

Very commonly and incorrectly referred to as a “mortgage survey”, the mortgage valuation is carried out by a surveyor acting on behalf of a lender to provide them with a professional report stating the value of the property. The purchaser usually pays the fee for this valuation.

Multiple agent instructions

Where more than one estate or letting agency firm is instructed by a seller or landlord to offer a property for sale or to rent. 

NAEA Propertymark

The NAEA Propertymark, formally the National Association of Estate Agents, the UK’s leading professional body for estate agency. 

Negative Equity

Where the sale value of a property is less than the amount outstanding on the mortgage. 

Note of Interest (Scotland only)

This registers your interest in a property so that you will be told if any other offers are made on it. It does not oblige you to buy the property. 

Open House (or Open Viewing)

A process, normally managed by an estate agent, where several house hunters are given a time of a few hours when they can all go and view a property for sale instead of separate, private viewings. 

Open Market Value

The likely sale price of a property assuming a willing seller and a willing buyer, with a reasonable period of publicity and marketing and no special factors affecting the property. 

Peppercorn Rent

A very low sum of rent or ground rent. In the past it was, literally, a peppercorn.

Preliminary Enquiries

When a sale is agreed, the buyer’s conveyancer will send the seller’s conveyancer a standard list of questions about the property.

Property Auctions

A sale conducted at a certain time by an auctioneer, either online or at a physical location, where competing buyers bid openly for a property and the highest bid wins. The purchase is binding on the fall of the hammer.

The Property Ombudsman

The Property Ombudsman offers a free and independent service for resolving disputes between sales and letting agents, which are members of The Property Ombudsman, and buyers/sellers of residential property in the UK.

Property Sourcing Agent

A property sourcing agent works for purchasers to find the property that meets the buyer’s needs.

Purchase Lease Option (PLO)

A PLO offers a tenant the option to buy a property at an agreed price at the end of a rental period without the need of a large deposit.

Purchaser

The person buying a property. 

Rent-to-Rent

This is the practice of renting properties from landlords and paying them a guaranteed rent, then rent the properties out to tenants for a higher rent than that being paid to the landlords.

Repossession

If a mortgage is not paid over a period of time, the lender may ultimately take ownership of the property by the process of repossession. 

Searches

These are conducted by your lawyer to check if there is anything that might affect the current or future value of the property. It is compulsory to have a local authority search before exchanging contracts. 

Semi-Detached House

A semi-detached house is a single-family duplex house that shares one common wall with an existing structure that is separately owned. While it is considerably cheaper, it does not offer the same level of privacy when compared to its fully detached counterpart.

Share of Freehold

This is when the freehold of the property is owned by a limited company and the shareholders are the owners of the property, usually the owners of flats within that building. 

Sole Agent

Where only one estate or letting agency firm is instructed by a seller or landlord to offer a property for sale or to rent. 

Sole Selling Rights

Where an estate agency or person is granted “sole selling rights” by the seller of a property, they will be able to claim an agreed fee regardless of who actually introduces the buyer.

Stamp Duty Land Tax (SDLT)

The tax paid to the government by the purchaser of a property. Rates of SDLT can vary. Changes in December 2014 mean that the tax rates are “banded” progressively in the same way as income tax. Nothing is payable on the first £125,000 of the purchase price. From £125,001 to £250,000 2% is payable and from £250,001 to £925,000 the rate is 5%. £925,001 to £1.5 million is 10% and over £1.5 million it is 12%.

The Chancellor of the Exchequer Philip Hammond has abolished stamp duty for first time buyers on homes worth up to £300,000. 

Subject to Contract

Where contracts are still not exchanged and nothing is yet legally binding on either seller or buyer.

Survey

This is a report prepared by a qualified building surveyor to check the structure for any faults. Home owners can choose from three main types of structural survey, depending on how much information they want.

Tenancy

Possession of a property by a tenant under the terms of a lease.

Tenancy Agreement

The legal agreement governing the occupation of a property by a tenant. 

Tenancy Deposit Scheme (TDS)

An insurance-based scheme run by The Dispute Service Ltd. for the protection of tenancy deposits and the resolution of disputes between landlords, agents and tenants concerning the return of deposits at the end of a tenancy. It is one of three schemes approved for tenancy deposit protection. TDS has recently launched a Code of Recommended Practice. This Code of Practice sets out the recommended requirements which letting agents and landlords should meet as members of the Tenancy Deposit Scheme.

Tenant

The person who has temporary possession of a property under a lease or tenancy agreement.

Tenure

The mode of holding ownership of a property: for example, leasehold or freehold. 

Terraced House

Terraced houses are a row of attached dwellings that share a common wall on either or both side(s). They are mostly found in urban areas and may come with a smaller garden, if any.

Title Burdens (Scotland only)

Conditions included in the title deeds, including restrictions on use, rights and obligations.

Title deeds

Documents detailing and confirming the legal ownership of a property. 

Transfer Document

The final legally binding document that transfers the property and all its rights from the seller to the buyer.

Under Offer

A property becomes “under offer” when a seller accepts an offer from a buyer and the legal processes of the transaction begin. 

Valuation (or Market Appraisal)

A term often used by estate agents to cover the process of them giving an opinion of the open market value of a property.

Vendor

The person selling a property