Please read these terms and conditions carefully and print a copy for your future reference. It is important that you understand that peer-to-peer lending is not covered by the Financial Services Compensation Scheme (“FSCS”) and therefore your capital may be at risk if a borrower fails to repay a loan that you have lent to. We strongly recommend that you seek independent financial and tax advice when considering whether to lend your funds through LandlordInvest Limited (“LLI”, “Company”, “we”, “us”).
References to "you" and "your" mean a user of the lending platform and the services provided via our lending platform, whether as an individual or on behalf of an entity which meets the criteria set out in clause 3 below.
1. About us
1.1 LandlordInvest Limited is a company incorporated in England and Wales, whose registered number is 09245725 and whose registered office and principal place of business is at Braitrim House, 98 Victoria Road, London, NW10 6NB, United Kingdom.
1.2 LandlordInvest Limited is authorised and regulated by the Financial Conduct Authority (FCA) (FRN 660926).
1.3 LandlordInvest Limited is registered with the Information Commissioner (ZA099073).
1.4 LandlordInvest Limited is not covered by the Financial Services Compensation Scheme (“FSCS”). You may be entitled to compensation from the FSCS in respect of any money held by LandlordInvest Limited on your behalf if the bank or credit institution holding the money becomes insolvent. Further information is available at www.fcsc.org.uk and we would advise you further if this event were to occur.
2. Our service
2.1 We provide the following services:
- introductory services for borrower and lenders;
- stream-lined process for entering into loans;
- facilitate and collect payments from borrowers and allocate them to lenders.
2.2 We are acting as an agent to Loan Facility Agreements, and all other relevant loan documents, originated through our lending platform and do not perform any management or advisory services.
2.3 As part of the services, as specified in clause 2.1 above, we do perform credit underwriting on borrowers and assign them credit ratings. However, our credit ratings are only informative and should never be construed as an advice.
2.4 Although we endeavour to verify all information provided by a borrower and with which we conduct our underwriting process and assign a credit rating, we accept no responsibility and disclaim all liability for any such information.
2.5 We may, after a loan request has been posted, modify, change or delete any borrower or loan information after a loan request has been posted on our loans market place. Material changes will be communicated to you.
2.6 For the avoidance of any doubt, we are not a lender or a borrower.
3. Become a lender
3.1 To open a lending account with us you must meet the following conditions:
- be an individual, limited company or LLP;
- as an individual you must be over 18 years old;
- if you are a limited company, you must be registered with Companies House;
- if you are an LLP, you must have a permanent place of business in the UK (excluding the Channel Islands and the Isle of Man);
- you must have a valid UK bank or building society account;
- you must register your details on the website www.landlordinvest.com, and;
- you have carefully considered the risks involved with using our lending platform and also the risks associated with peer to peer lending, including but not limited to, the possibility of losing the money you invest.
3.2 If you are a limited company or a LLP, you must satisfy one of the following:
(a) You must not be in the business of lending as part of your ordinary course of business; or
(b) If you are in the business of lending as part of your ordinary course of business, you must be authorised and regulated by the Financial Conduct Authority (and the PRA where applicable) to carry on the regulated activities set out in Article 60B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (“Lending business”).
3.3 If you are a Lending business, you must ensure that you have, at the time of becoming a lender on our lending platform and at all times whilst you are a lender on our lending platform, proper authorisation from the FCA (and PRA where applicable). You must also notify us of this status and provide us with your authorisation number before you become a lender on our lending platform.
3.4 If you are a Lending business you must ensure that you comply with all your legal and regulatory obligations at all times. You cannot delegate such responsibilities to us.
3.5 You must immediately notify us if:
(a) you are a Lending business and your authorisation has been cancelled, suspended or varied by the FCA or at your own initiation;
(b) you are a Lending Business and have had requirements or limitations added to your Part 4A Permission or you are involved in or subject to FCA (and/or where relevant, PRA) enforcement action; or
(c) the status of your company at the time of registering as a lender met the condition set out within clause 3.2(a) but now meets the condition set out within clause 3.2(b). Where this is the case you must not use our lending platform until you satisfy the criteria set out in clause 3.3.
3.6 You warrant that all information that you provide about yourself is accurate and true to the best of your knowledge.You will update us if any of the information you provide to us changes.
3.7 You warrant that by entering into this agreement, you are not breaking any laws or regulations that are applicable to you nor is any company, trust or partnership upon whose instructions you are acting upon.
3.8 We will carry out identity and fraud checks on you, using credit reference agencies such as Call Credit, Equifax or Experian, to comply with our regulatory requirements.
3.9 We have complete discretion as to if to allow you to be a lender on our lending platform.
3.10 If we cannot obtain satisfactory information from the credit reference agency then we will ask you to provide us with copies of the relevant passports or other identification documents plus a proof of address and anything else that we may require.
3.11 We may at any time suspend or place limitations on trading on your account if we believe it is appropriate in order to comply with our legal and regulatory obligations.
3.12 You can transfer money into your lending account by bank transfer. You need to quote your unique account number if you transfer money using a bank transfer so that we can identify and allocate your transfer to your lending account.
3.13 We require you to use an account held with a UK bank or building society maintained in your sole or joint name.
3.14 You can start lending as soon as we receive and allocate funds to your lending account. Setting up a lending account is free of charge.
3.15 Money in your lending account will be held by us in a segregated client account with a bank (currently the Royal Bank of Scotland) selected by us until or unless it is lent to a borrower at which time it will be transferred to the relevant borrower’s account.
3.16 You may withdraw money from your lending account by making a request in writing to us. Money will only paid into a UK bank or building society account held in your name or a joint name. When making your first withdrawal request, you need to provide us with a bank or building society statement showing your name and address before we can process your withdrawal request to meet current UK regulation. You may upload a statement directly on our lending platform or by sending it to [email protected].
3.17 Please keep in mind that while we believe that access to the assets of a borrower via the secured loan may provide additional comfort as to the likelihood of repayment, we accept no additional responsibility for the likelihood of a borrower meeting its financial obligations to lenders through our lending platform in circumstances where such recourse to the assets of the borrower is available.
3.18 You have the right to cancel this agreement, without giving any reason, within 14 days beginning on the day after the date on which you register as a lender on our lending platform. You can do this by emailing [email protected].
4. Lending account
4.1 You must provide a username and email address, enter a password and provide answers to two security questions when registering as a lender with us.
4.2 Each time you access your lending account you will need to enter your email address and password. Your username and password are unique to your lending account and are not transferable without our written consent.
4.3 You must keep your username, password and the answers to security questions secure at all times. You are responsible for all information and activity on our lending platform by anyone using your username and password.
4.4 If you authorise anyone to use your lending account you will be responsible for their activity on the platform.
4.5 Any breach of security, loss, theft or unauthorised use of a username, password or security information must be notified to us immediately using the contact details here (www.landlordinvest.com/contact)
4.6 You agree not to adapt, bypass or manipulate the systems in place in connection with the platform, nor access our systems other than by using the credentials assigned to you and by following the instructions that we have provided for that type of connection.
4.7 We reserve the right not to act on your instructions where we suspect that the user logged into your lending account is not you or we suspect illegal or fraudulent activity or unauthorised use.
5. How to lend
5.1 All applications by borrowers are carefully reviewed by us, and classified at the initial application stage into assigned risk ratings based on various variables including data from a credit referencing agency that we work with and the borrower’s application.
5.2 A loan request page is created by us for borrowers that meet our criteria and pass through our underwriting process.
5.3 Certain loans may be classified as “Pending underwriting”, meaning that the loan meets our criteria and certain checks have been made but a final check (often a valuation report) is required before the loan will be classified as an underwritten loan.
5.4 Loan requests are posted to our loans market place which you may only access if you have a lending account.
5.5 Once you have decided which borrower(s) you want to lend to, you choose the amount of money that you want to commit. The minimum amount that you can commit into each loan is £100, in increments of £1.
5.6 You may withdraw your commitment to a loan request at any time provided that the loan request has not reached its funding target.
5.7 A loan must be fully funded to complete. A completed loan will be made up of the sum of the commitments sufficient to fully fund the loan request at the time the borrower accepts the loan or the funding period expires. The borrower can then either accept the loan or allow the loan offer to lapse in which case no loan is made.
5.8 We reserve the right to place any restriction or condition on which lenders may become lenders or and/or the maximum or minimum amount a single lender is permitted to bid and lend to a particular borrower or in aggregate.
5.9 You can monitor and review details of your loan portfolio in the “My Account” section of our lending platform.
6. Loan Facility Agreement
6.1 LLI enter into a Loan Facility Agreement on your behalf as agent with the borrower once a loan request is fully funded and the borrower accepts the aggregated loan request offer. Your money is then transferred from your lending account to the account of the borrower.
6.2 The Loan Facility Agreement will include the relevant contract terms, setting out the specific details of the loan (interest rate, term etc.) and to incorporate our standard loan conditions.
6.3 You appoint LLI or such other entity to which any of its rights and obligations are assigned under Clause 6.4 from time to time to act as agent on your behalf in relation to the loan and instruct LLI to sign the Loan Facility Agreement, any Security Documents and any other relevant loan documents as agent on your behalf.
6.4 LLI may assign any or all of its rights and obligations under its agreement with you and any Loan Facility Agreement, any Security Document and supplemental documentation. If a novation of all or any of LLI’s rights and obligations is required by LLI, you agree to enter into such documentation as is required by LLI to give effect to the novation and thereupon LLI shall be released from all further liability in respect of its obligations so assigned. The expression “LLI” in these terms and conditions shall where the context permits include any entity to which any of its rights and obligations are assigned.
6.5 No interest will be earned by you until the loan request has completed.
6.6 Where there is more than one Lender lending under the Loan Facility Agreement, the total Loan to the Borrower will be made up of various loan parts, each loan part representing a separate loan made to the Borrower by the Lender of each loan part. Where this is the case, under the Loan Facility Agreement, you will be deemed to enter into a separate Loan Contract with the Borrower in respect of your loan part for the amount of your loan part and on the same terms as the Loan Facility Agreement.
6.7 If you purchase a loan or part of a loan from another lender, you will become a party to the Loan Facility Agreement and your money will be transferred from your lending account to the transferring lender’s lending account.
6.8 Each time you purchase or sell a loan or a loan part, you will be sent a transfer certificate, which will set out the legal terms of your purchase or sale.
6.9 You agree that all notices and communications given to a borrower may be sent by us on your behalf.
7. Interest and principal payments
7.1 Interest and principal payments due to you on each loan or loan part can be viewed in the “My Account” section of our lending platform. The Loan Facility Agreement governs the payment of these amounts.
7.2 All interest accrued and principal payments will be credited to your lending account.
7.3 Each loan will have its time period and maturity date specified in the Loan Facility Agreement applying to it.
7.4 All interest and principal payments will be made to lenders without deduction of income tax. It is your responsibility to account for any income tax and other personal taxes that may be payable to the appropriate authorities.
7.5 We will, for tax purposes, provide you with an annual statement of interest earned.
8. Selling or buying a loan or loan part on the secondary market
8.1 You may list your loan or loan part for sale, using the secondary market function on the platform. The minimum amount that you may list for sale is £100 and you may only list loan or loan parts at par value. If you want to sell a loan or loan part of £1,000, the sale price will be £1,000.
8.2 To list your loan or loan part on the secondary market, you will need to choose the loan and loan amount that you wish to make available for sale by going to the “My investments” tab in your account. You may list your entire outstanding investment in a loan or loan part.
8.3 Please keep in mind that there is no guarantee that there will be a buyer for your loan or loan part as it is outside LLI’s control. It is solely up to platform lenders if they wish to bid on your loan or loan part.
8.4 You will not be able to a list loan or loan part if the relevant loan is in (1) arrears (a borrower has missed one or several interest payment/s, or only made a partial payment), or (2) if the loan is in default, or (3) there is only one interest payment remaining for the loan.
8.5 Once you have listed a loan or loan part, it will appear on the secondary market. A loan or loan part listing is listed on the secondary market for 14 days, beginning from the time that you listed it. You may at any time remove your listing.
8.6 Lenders may purchase a loan or loan part by pressing the “buy” button for the relevant loan or loan part and submit a bid.
8.7 An LLI administrator must approve each secondary market sale before it is completed. If the administrator approves a bid, both the seller and buyer will be notified via email and their respective records will be updated to show when the purchase is completed. If the administrator does not approve a bid, the listing will appear again on the secondary market.
8.8 Secondary market listings will only be processed between the hours of 9.30am and 5pm, Monday to Friday and 12am to 4pm Saturday.
8.9 When a secondary market sale occurs prior to a scheduled interest payment, the seller will receive the daily accrued interest until the day that sale is completed, payable to the seller upon the next scheduled interest payment for the relevant loan. The buyer will receive accrued interest from the day after the purchase is completed.
8.10 The sale of listing will be completed by using an Assignment Agreement. The Assignment Agreement will be completed once the LLI administrator has approved a sale. Upon the sale, the seller and buyer will have entered into a legally binding contract for the purchase and sale of the loan or loan part (“Secondary market sale”). Upon the Sale being agreed, both the selling lender and the purchasing lender irrevocably and unconditionally appoint the LLI as their agent to execute the Assignment Agreement on their behalf. A copy of the Assignment Agreement will be made available, to each lender, on written request.
8.11 An administration fee of 0.25% will be deducted from the seller’s sale proceeds upon a completed secondary market sale (“Secondary market sale fee”). We may at our absolute discretion waive the Secondary market sale fee in part or in whole as part of a promotion or for any other reason.
8.12 A secondary market listing will be on an "as is basis", with no representations and warranties provided by the selling lender, the borrower, any member of LandlordInvest or any other entity. Only limited information is likely to be available and no information is provided by the platform. Prospective purchasers can use the platform to research the information provided at the time of the original loan listing, including reviewing the payment schedule for the relevant loan.
8.13 You would not be able to sell and loan or loan parts if LLI assigns any of its rights and obligations as set out in Clause 6.4 and/or Section 16.
9.1 You accept that borrowers are entitled to, without any prepayment penalties or any other claims arising from a prepayment, prepay their entire loan prior to the maturity date set out in the Loan Facility Agreement.
9.2 We will notify you if a borrower choses to prepay a loan to which you have lent to. Proceeds from a prepaid loan will be credited to you lending account after we have received the prepayment proceeds from the borrower.
10.1 We charge an annualised fee of up to 5% of the outstanding principal ("Servicing Fee") (or such other amount as shall be notified by us to lenders and borrowers from time to time) by increasing the interest rate charged on any loan to cover our role in providing intermediary services in relation to the introduction of you and the Borrower and the costs of running the website and administering the loans.
10.2 The Servicing Fee is included in the rate of interest stated in the Loan Facility Agreement for the relevant loan and will be taken directly from loan repayments.
11. Security and security enforcement
11.1 All loans are secured by a first or second legal charge over the borrower’s property (“security”) and held by Street (UK) C.I.C. ("Street UK"), or any other firm appointed by us at our sole discretion to hold such security on your behalf.
A reference to "Security Agent" is a reference to Street UK or any firm instructed by us, in its capacity as security holder on your behalf.
11.2 You agree that the Security Agent will act on your behalf as Security Agent in respect of the any borrower's liabilities to you under each loan. Communications to a borrower in connection with any such security will be made through us or through the Security Agent.
11.3 You agree that we may at our sole discretion appoint another Security Agent in the event of a Security Agent's insolvency.
11.4 Any valuation of the security will be indicative of the value and realisation on enforcement in connection with the sale of such security may be lower (or higher) than the value set out in the valuation. We, nor the Security Agent, can guarantee the realisable value of the security.
11.5 The Security Agent will pay back to lenders in their proportionate share any funds successfully recovered, less its costs incurred during that recovery.
11.6 The Security Agent will act in a fair and equitable manner to achieve maximum recovery for all affected lenders, which may include extending payment terms or selling the debt to a third party.
11.7 The Security Agent may perform all obligations, rights and benefits given to the Security Agent by assignments, legal mortgage and by any future security that the Security Agent may take in respect of the debt due under the loan or under any document entered into pursuant to such assignments, legal mortgage and/or future security.
11.8 Where the Security Agent holds an assignment and/or legal mortgage in respect of a particular loan of a particular borrower that an assignment and/or legal mortgage will generally operate to secure all monies due from that borrower to lenders.
11.9 If the Security Agent is required to enforce any security agreement, and any proceeds of recovery become available (after allowing for all of the Security Agent’s costs of enforcement), it is possible that the available proceeds will not be sufficient to discharge all obligations owed by the borrower at that time to lenders. Lenders shall only be entitled to recover their proportionate share of such recoveries in such case.
11.10 You agree that the Security Agent shall be entitled to be repaid and reimbursed out of the proceeds of any recovery under any security agreement, assignment and/or legal mortgage and that you will pay all reasonable costs incurred by the Security Agent in enforcing the security or in complying with any instructions from you in connection with any security agreement. You will only be responsible for payment of such costs out of the proceeds of any recovery and to the extent that such costs cannot be recovered by the Security Agent from the relevant borrower.
12.1 You agree that in the event of arrears on a loan, we may take the steps as set out below (clause 12.2-12.9) on your behalf.
12.2 We may act outside and/or ahead of the process referred to in clause 12.1 above to pursue arrears or loans where we consider this to be in the best interests of lenders. We may recover our reasonable costs from any amount recovered.
12.3 If the borrower misses a payment or only partially pays, the amount due to you and the other lenders, we ourselves or through an agent acting on our behalf, will contact the borrower to inform them that we will reattempt to collect the outstanding payment in respect of that loan.
12.4 If our reattempts to collect the funds fails 3 working days after the payment was due, the borrower's account will be treated as an overdue account and we will continue to attempt to collect the funds.
12.5 We may refer any missed payment to a debt collections agency (the "Collections Agency"), who will attempt to collect the money on your and any other lenders’ behalf and you authorise us to use such Collections Agency on your behalf.
12.6 Any reasonable fees that the Collections Agency charges for this initial debt chasing will be added to the loan amounts that they are seeking to collect and will not reduce the amount available for distribution to lenders.
12.7 We may engage field agents to attempt to collect the total loan amount outstanding if a loan placed in default.
12.8 Any reasonable fees that the field agents charges for debt chasing will be added to the loan amounts that they are seeking to collect and will not reduce the amount available for distribution to lenders.
12.9 We will keep you up to date with the progress of its efforts to collect arrears and to recovery defaulted debt.
13. Closing your lending account
13.1 If you no longer want to be a lender on our lending platform, and provided that you have no Loan Facility Agreements currently in force, you can let us know in writing and we will close your lending account.
13.2 We reserve the right to close your lending account at any time and for any reason, including but not limited to if:
- you breach these terms and conditions;
- you breach any Loan Facility Agreement;
- we suspect that you have committed fraud, been involved in money laundering or other criminal activities;
- you use our lending platform or any information accessible on or obtained from it for the purpose of canvassing or soliciting any person or enticing any person away from us;
you use our lending platform in any of the following ways:
- in any way that causes, or is likely to cause, the platform or access to it to be interrupted or damaged in any way;
- for fraudulent purposes, or in connection with a criminal offence;
- to send, use or reuse any material that is illegal, offensive, abusive, indecent, defamatory, obscene or menacing; or in breach of copyright, trademark, confidence, privacy or any other right; or is otherwise injurious to third parties; or objectionable; or which consists of or contains software viruses, political campaigning, commercial solicitation, chain letters, mass mailings or any “spam”;
- to cause annoyance, inconvenience or needless anxiety; or
- there is no activity in your lending account within a 12 month period.
13.3 On termination we will credit your bank or building society account with any funds left in your LLI lender account or send a cheque to the address last provided by you.
14. Deceased lender
14.1 Upon the death of a lender, LLI will temporarily block access to the lender’s account. The account will continue receive interest and loan repayments on outstanding loans (if any).
14.2 After the account has been temporally blocked, LLI will only accept instructions from a legal representative (per clause 14.3) how to deal further with the account, including liquidating the account, selling outstanding loan or loan parts (subject to clause 8.1) and releasing the fund to a UK bank or building society account.
14.3 The legal representative of the account will need to provide LLI with a copy of the death certificate and a certified copy of the Grant of Probate or Grant of Letters of Administration (as applicable) before being able to deal with the deceased’s account.
15. Client Money
15.1 We shall treat money that we receive from you or hold on your behalf as Client Money in accordance with the FCA’s Client Money rules (CASS). Client Money held for you will be subject to internal control mechanisms and accounting procedures in accordance with the Client Money rules.
15.2 You are hereby notified, in accordance with Rule 7.10.7B of the FCA Client Assets sourcebook, that we have elected to hold monies held in relation to lenders and prospective lenders under non-P2P agreements (corporate bodies and partners in partnerships of four or more partners) in accordance with the FCA’s Client Money Rules with effect from 7 February 2017.
15.3 We will make arrangements for your money to be held in a segregated account separately from our own funds with a bank appropriately authorised, in line with our FCA requirements ("Client Bank Account") and in accordance with the Client Money rules and maintained specifically for you or for our lenders generally. Your money may be held with other lenders’ money in a pooled account and you consent to such pooling.
15.4 Client Money will be held on an omnibus basis which means that if the bank were to fail, your funds would be affected by any shortfall in proportion to the value of your funds relative to the total sum of Client Money held in this way. We will not be responsible for any acts, omissions or default of any bank with which your money is held and in the event of insolvency of such bank, we would not be liable for any shortfall unless we had failed to comply with any duty of care or obligation to which we were subject.
15.5 Client money may be placed in client transaction accounts with solicitors in order to complete certain transactions. These funds are held by the relevant solicitors under the Solicitors Regulation Authority (SRA) Client Money Rules.
15.6 LLI does not provide paper statements of client holdings. You can log into your accounts at any time and download a statement of your current loans and see your "available" and "pending investments" which together account for the client money we are holding for you.
15.7 We will not pay interest on balances held as Client Money.
16. Insolvency arrangements
16.1 If our platform were to fail or we become insolvent, we would transfer our loan servicing obligations to a third party back-up servicer (“Outsourced Servicer”), Street (UK) C.I.C. with whom we have entered into a back-up servicing arrangement.
16.2 Street (UK) C.I.C. is authorised and regulated by the Financial Conduct Authority under firm reference number (FRN 673046).
16.3 We reserve the right to use a back-up servicer prior to insolvency where such action is in the best interests of all of the lenders. If this happens:
- you would not be able to sell any loan or loan parts;
- you would receive distributions of funds to your external bank or building society account on a quarterly basis or semi-annual;
- our lending platform would not be available for access by you; and
- you would receive quarterly or semi-annual statements of repayments and continue to receive annual statements (for tax purposes).
16.4 Our Outsourced Servicer would continue to collect the Servicing Fee. Our outsourced servicer may charge an additional special situation fee which will be included in the interest rate paid by the borrower, and you consent to such fee.
17.1. If you have a complaint, then you can contact us by phone on: 020 3859 4611, by post at: LandlordInvest Limited, Braitrim House, 98 Victoria Road, London, NW10 6NB or by email at [email protected]. You may request a copy of our complaints handling procedure at any time.
18. Your agreement with us
18.1 You agree that LLI is making no warranty or representation as to the ability of borrowers to pay and their credit risk. You further agree that we shall have no obligation to reimburse or indemnify you for any cost, loss or liability which you incur as a result of the failure of any borrower to perform its obligations under the Loan Facility Agreement and any other relevant loan documents. You acknowledge that you are lending entirely at your own risk.
18.2 We do not perform any management functions on your behalf. You retain complete control and discretion over whether or not to make a loan to a borrower and on what terms and over all other aspects of its participation in LLI and loans made through it. Nothing we do and nothing on our lending platform is intended to operate or be construed as advice or recommendation by us to enter into a particular loan.
18.3 The information on our lending platform does not constitute advice, recommendation or an endorsement of loan requests or borrowers. The information is not intended to be relied upon as a sole basis for deciding whether or not to lend to a particular borrower or loan.
18.4 We do not guarantee that there will be sufficient bids to fully fund loans and allow your funds to be lent out, that there will be sufficient borrowers for you to lend to or that there are sufficient other lenders to buy your loan or loan parts should you wish to sell them.
19. General terms
19.1 The information provided on our lending platform is directed solely at and is for use solely by lenders that meet the criteria set out in clause 3 above. The content provided through our lending platform is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be unlawful.
19.2 Our supplied content on our lending platform must not be copied or reproduced, modified, redistributed, used or otherwise dealt with for any other reason without our express written consent.
19.3 We are not responsible for content downloaded or posted by lenders or borrowers on the platform.
19.4 We will endeavour to allow uninterrupted access to the platform, but access to the platform may be suspended, restricted or terminated at any time at our sole discretion.
19.5 You agree to use our lending platform only for lawful purposes and in a way which does not infringe the rights of any anyone else or restrict or inhibit anyone else's use.
19.6 You warrant that you have taken all reasonable precautions to ensure that any data you upload or otherwise submit to our lending platform is free from viruses and anything else which may have a destructive effect on any part of our lending platform or any other technology.
19.7 The content and material available through our lending platform is for informational purposes only and should not be regarded as an offer, solicitation, invitation, advice or recommendation to buy or sell investments, securities or any other financial services or banking product. You should seek independent financial or tax advice if you are unsure about whether a product is suitable.
19.8 You are responsible for all costs incurred by you in accessing the platform.
19.9 We accept no responsibility or liability for your use of content on the platform and such use is entirely at your own risk. While we take reasonable precautions to prevent the existence of computer viruses or other malicious programs on the platform, we accept no liability for them if they do exist. It is your responsibility to use, update and maintain appropriate antivirus software on your computer.
19.10 Information transmitted via our systems will pass over public telecommunications networks. We accept no liability if communications sent via the platform are intercepted by third parties or incorrectly delivered or not delivered.
19.11 The platform may contain links to third party websites. We accept no responsibility or liability for any material supplied by or contained on any third party website which is linked from or to the platform, or any use of personal data by such third party.
20. Your liability
20.1 You shall be liable to us for any loss or damage suffered by us as a result of any breach of these terms and conditions or any Loan Facility Agreement by you, or any fraudulent use of our lending platform.
21. Our liability
21.1 We shall not be liable to you for any loss or damage which you may suffer as a result of being a lender on our lending platform or using the services provided via our lending platform, except where such loss or damage arises from our breach of these terms and conditions or was caused by negligence, wilful default or fraud by us or our employees.
21.2 We are not responsible for any breach of these terms and conditions arising from circumstances outside our reasonable control. Our total liability to you in connection with these terms and conditions and your use of the services provided via our lending platform shall not exceed the amount of money you have lent giving rise to the liability.
21.3 Nothing in these terms and conditions shall limit our liability for personal injury or death, fraud, nor for any other liability is the exclusion or limitation of which not permitted by applicable law or regulation.
22. Amendments to these terms and conditions
22.1 We do need to update or amend these terms and conditions from time to time due to business changes or to comply with law. We may make such changes without your specific agreement if those updates are, in our reasonable opinion, of an immaterial and routine nature and may not always be able to give you advanced notice of such updates or amendments but we will post them on our lending platform.
22.2 By continuing to use our lending platform, or our services in allocating funds you have deposited, you agree to be bound by the terms of any updates and amendments implemented in accordance with clause 22.1.
22.3 These terms and conditions were last updated on 12 October 2017.
23. Other important terms
23.1 If any of these terms and conditions is found to be illegal, invalid or unenforceable by any court of competent jurisdiction, the remainder shall continue in full force and effect.
23.2 All disclaimers, indemnities and exclusions in these terms and conditions shall survive termination of the agreement between us.
23.3 We may, in whole or in part, release, compound, compromise, waive or postpone, in our absolute discretion, any liability owed to us or right granted to us in these terms and conditions without in any way prejudicing or affecting our rights in respect of that or any other liability or right not so released, compounded, compromised, waived or postponed.
23.4 No single or partial exercise, or failure or delay in exercising any right, power or remedy by us shall constitute a waiver by us of, or impair or preclude any further exercise of, that or any right, power or remedy arising under these terms and conditions or otherwise.
23.5 These terms and conditions and the Loan Facility Agreements set out the entire agreement between you and us with respect to your use of our lending platform and the services provided via our lending platform and supersede any and all representations, communications and prior written or oral agreements made by you or us.
23.6 We may exercise any of its rights under these terms and conditions by ourselves or through any company or other legal entity which is under the control or ownership of us.
23.7 These terms and conditions are governed by English law. In the event of any matter or dispute arising out of or in connection with these terms and conditions, you and we shall submit to the non-exclusive jurisdiction of the English courts.