Last updated May 2014
If you are using our Website as a potential borrower, please note that you should always think very carefully before you commit to taking out a loan. Before proceeding with a loan, please make sure you read the pre-contract disclosure document and loan agreement provided to you and seek advice if you are unclear about any of the terms.
1. Information about us
www.lendable.co.uk is a website operated by Lendable Ltd (we, us). We are a Private Limited Company, registered in the United Kingdom under company number 08828186 and have our registered office at 128 Shoreditch High Street, London, E1 6JE.
2. Other applicable terms
3. Accessing our Website
Access to our Website is permitted on a temporary basis, and we reserve the right to withdraw or amend the service we provide on our Website without notice (see below). We do not guarantee that our Website, or any content on it, will always be available or be uninterrupted. We will not be liable if for any reason our Website is unavailable at any time or for any period. You are responsible for making all arrangements necessary for you to have access to our Website.
4. Eligibility and Fees - Borrowers
To subscribe to the lending services we provide through our Website, you must meet our eligibility criteria.
To be eligible as a borrower you must:
- be an individual residing in the UK;
- be at least 18 years old; and
- have a current account at a UK bank or building society.
As a borrower, if you meet our eligibility criteria set out above, you will be able to set up an account with our Website and may apply for a loan through our Website. As part of our loan approval process we may:
- make identity, fraud and credit checks;
- obtain a credit rating for you from the credit reference agency We use; and
- carry out anti-money laundering checks on you.
All loan applications are subject to our approval and we can decline a loan application for any reason. If we approve your application for a loan, you will need to enter into a loan agreement with us. We will not lend any money to you until you enter into such loan agreement.
Our loan agreement will clearly set out the fees that will apply to your loan. If you have any questions about our fees, please contact us at firstname.lastname@example.org.
If we are not able to approve your loan application, we may, should you wish, introduce you to our partners TotallyMoney.com, the trading name of Media Ingenuity Ltd. They will search for other lenders who may be able to meet your requirements.
5. Eligibility - Investors
To be eligible as an investor one of the following must apply to you:
- You are an investment professional
- You represent a company, partnership, or trust
- You are a self-certified sophisticated investor
You may contact us by emailing email@example.com so that we may establish whether you qualify as an investor in loans made by Lendable. No part of the Website constitutes an inducement or offer to buy securities
6. Your account and password
When you subscribe to our Website, as part of our security procedures be provided with, a user identification code and password. You must treat such information as confidential and must not disclose it to any third party.
When you use our Website we will check your identity by asking for your user identification code and password. If the correct user identification code and password are provided, we will assume that you are the person giving instructions and making transactions. You will therefore be liable for such instructions and transactions.
If you know or suspect that anyone other than you knows your user identification code or password, you must promptly notify us at firstname.lastname@example.org.
We may refuse to act on any instruction that we believe:
- was not submitted by you;
- was not clear;
- might cause us to breach a legal or other duty; or
- suggests that our Website is being used for an illegal purpose or a purpose that is in breach of our regulatory obligations.
7. Our site changes regularly
We aim to update our Website regularly, and (provided such changes do not adversely affect you) may change the content at any time without notice by posting such changes on our Website. If the need arises, we may suspend access to our Website, or close it indefinitely without notice. Any of the material on our Website may be out of date at any given time, and we are under no obligation to update such material. We do not guarantee that our site, or any content on it, will be free from errors or omissions.
8. Termination of your account
If you open a borrower account with us, once you have repaid all of the loans that we have granted to you, you may terminate your account with us by sending us an email to email@example.com.
Following notice of termination of your account, we will provide you with limited access to our Website and the “My loans” area of the Website for seven days so that you can download any of your account content or information relating to your loan(s). After the end of the seven day period, you will no longer be able to access the “My loans” area of our Website. However, we and our collections agency will continue to maintain records regarding you to the extent that we are required by law to do so.
We may either terminate or suspend your account immediately and without notice if we are aware or reasonably suspect that you are engaged in, or may be the victim of, any fraudulent activity. We will then notify you of any such termination or suspension as soon as is reasonably practicable, to the extent we are permitted to do so by applicable law.
9. Our liability
- death or personal injury resulting from our negligence;
- fraud or fraudulent misrepresentation; or
- any other liability that cannot be excluded or limited by English law.
10. Intellectual property rights
We or our licensees are the owner or the licensee of all intellectual property rights in our Website, and in the material published on it. You must not use any part of the materials on our Website for commercial purposes without obtaining a licence to do so from us or our licensors.
11. Reliance on information posted
Commentary, information and other materials posted on our Website are not intended to amount to advice on which reliance should be placed. The material displayed on our Website is provided without any guarantees, conditions or warranties as to its accuracy. We therefore disclaim all liability and responsibility arising from any reliance placed on such materials by any visitor to our Website, or by anyone who may be informed of any of its contents.
12. Uploading content to our Website
Whenever you make use of a feature that allows you to upload content to our Website, or to make contact with other users of our Website, you must comply with the content standards which we upload to our Website from time to time.
You warrant that any such contribution complies with those standards, and you will be liable to us and indemnify us for any breach of this warranty. If you are a consumer user, 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 Website will be considered non-confidential and non-proprietary, and we have the right to use, copy, distribute and disclose to third parties any such content for any purpose.
We also have the right to disclose your identity to any third party who claims that any content posted or uploaded by you to our Website constitutes a violation of their intellectual property rights, or of their right to privacy.
We will not be responsible, or liable to any third party, for the content or accuracy of any content posted by you or any other user of our Website.
We have the right to remove any posting you make on our Website if, in our opinion, your post does not comply with our content standards.
The views expressed by other users on our Website do not represent our views or values
13. Information about you and your visits to our Website
14. Viruses, hacking and other offences
In the event that you knowingly place viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful on to our Website, your right to use our Website will cease immediately.
We will not be liable for any loss or damage caused by a distributed denial-of-service attack, viruses or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our Website or to your downloading of any material posted on it, or on any website linked to it.
15. Linking to and from our Website
You may link to our Website, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but 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. 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 which we upload to our Website from time to time.
Where our Website contains links to other websites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those websites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them.
16. Referral policy
Referral bonus valid for new loan applications before 30th November. Maximum total referral bonus £2,000. Referral bonus will be transferred to referrer account following referees first repayment after the cooling-off period providing both loans are in good-standing. Neither loan is affected by this bonus. Personal invite links should only be used for personal and non-commercial purposes. This means that you can share your invite link with your personal connections via email, Twitter feeds, Facebook pages, personal blogs, etc. where you are the primary content owner. However public distribution on sites where you are a contributor but not the primary content owner (e.g., Wikipedia, voucher websites) is not allowed. Promoting your referral code via Search Engine Marketing (e.g., AdWords/Yahoo/Bing) is also not allowed. Lendable reserves the right to revoke any and all referral credits at any time if we feel they were earned inappropriately.
17. Jurisdiction and applicable law
20. Your concerns
If you have any concerns about material that appears on our Website, please contact us at firstname.lastname@example.org.