Brokerage Terms and Conditions (currently inactive - we operate on a non-charging basis)
Thank you for visiting the LoanBookers website, below you'll find a few important things you need to know about us and your use of our services. Please read the terms and conditions carefully before you start to use any service offered on our website.
Information about us
LoanBookers is the trading name of LoanBookers Limited (“We, Our, Us”), which is a limited company registered in England and Wales with Company No. 07387297 and has its registered office at 5th Floor, 89 New Bond Street, London, W1S 1DA.Our main trading address is LoanBookers, 28-32 Wellington Road, London NW8 9SP.
We are registered under the Data Protection Act 1998 with Data Protection No: Z2406944 and licensed under the Consumer Credit Act with Consumer Credit License No: 0639708.
The LoanBookers service
We provide a number of services via telephone and online and other means. In asking LoanBookers to provide you with a service(s) you are also entering into an agreement with LoanBookers.By entering into an agreement with LoanBookers you are accepting our terms and conditions relating to the agreement and also are agreeing to abide by them.
LoanBookers acknowledges its obligations to this agreement by performing the service you have requested. In doing so we are the service provider and you are our client.
We deal directly with the client and have no obligation to any party other than our client. If you are accessing our service on behalf of a 3rd party our obligation is still with you, the client. And as our client the terms and conditions of this agreement apply to you, the client and no other parties or agents connected to you.
Service Limits
LoanBookers acts as a loan broker to our clients. On behalf of the client we locate lenders and providers of financial services which offer loans or offers of finance.LoanBookers works alongside a number of loan and finance providers. These are the companies and organisations that we use to help find loans and offers of finance for our clients.
LoanBookers does not provide loans or finance and does not represent the interests of or act on behalf of any individual lender or financier.
Once a client enters into an agreement with LoanBookers and accepts the terms and conditions, LoanBookers acts as the client’s broker for a period of 6 months. This period allows us the chance to try and find a loan or offer of finance required by the client.
Our clients are protected under the Consumer Credit Act 1974 (as amended) (“Credit Act”) and all of the lenders and financiers we work with to find loans for our clients are licensed by the OFT.
To find out more information about how the Credit Act protects the rights of consumers contact the Trading Standards Institute www.tradingstandards.gov.uk or the Citizens Advice Bureau www.citizensadvice.org.uk.
As LoanBookers does not provide loans or finance we do not set or exert any influence over the rates of interest charged for financial products. Interest rates are set by the lenders and financiers who will also make the decision as to the provision of loans of finance to the clients of LoanBookers.
Examples of rates, amounts borrowed and repayment periods given on the LoanBookers website are provided by way of offering a representative example of the product to help the client understand the products on offer.
LoanBookers does not provide the representative examples as any form of warranty of what any lender or financier will actually offer the client or as any guarantee that the client will be approved for finance by lenders.
The decision to provide clients with loans or offers of finance lies with the lenders and financiers alone and will depend on many things including a lender’s assessment of a client’s credit history.
Communications from or on behalf of LoanBookers
We will assume until told otherwise that the client agrees to LoanBookers using telephone, SMS, email, fax and post to alert the client to products and services related to LoanBookers and its associated companies.Checks and references
LoanBookers itself does not carry out credit checks on clients when loan and finance applications are made or when clients register with the LoanBookers service.However, the lenders and financiers that we use to try to find loans and finance on behalf of clients may use external credit reference agencies and credit scoring services to ascertain that the client is eligible for a loan or finance and meets the criteria of the lender or financier.
Credit checks and credit reference agencies can also help prevent fraudulent applications so we ask clients to agree to using data provided for the purpose of preventing fraud and ensuring the clients identity is as claimed.
Information provided by the client must always be true and accurate as misleading information will be regarded as a breach of the terms and conditions of your agreement with LoanBookers and is likely to breach any agreement you have entered into with the lenders and financiers LoanBookers works alongside. Furthermore, misleading information may also result in the instigation of criminal procedures against the client.
If the client has authorised any 3rd Parties to access the service on behalf of the client instructions issued by authorised 3rd parties will be contractually binding on the client on whose behalf the 3rd Party is acting.
Should the client choose to make a joint application for a loan or finance via the LoanBookers site each party will be dealt with as a client acting with the consent of the other and if correspondence is entered into with one party of the joint application it shall be assumed that the communication is with both parties.
Fees for the brokerage service (inactive)
LoanBookers may in the future charge a fee for providing a finance and loan brokerage service. The amount charged for this service will be clearly specified in all communications with the client.Should the client not enter into an agreement with any lender or financier within the 6 month period during which LoanBookers is acting as a broker on behalf of the client, the client will be refunded the fee payment less a £5.00 service charge in line with the requirements of the Credit Act.
To request a refund the client must apply in writing to ensure that all payments are made correctly and all communications sent and received at the correct address.
To further ensure prompt and accurate payments and refunds LoanBookers will require the client to provide authorisation of credit cards and debit cards related to the service provided by LoanBookers.
Other taxes and costs may be incurred by you in connection with using our service which are not imposed by us or paid through us.
Cancellation
All clients have the right to cancel applications for 14 days from the day they receive the terms and conditions of the agreement. This is in accordance with the Financial Services (Distance Marketing) Regulations 2004.Cancellations should be made in writing and payment will be returned in full to the client within 30 days of receipt of the client’s request. Cancellation requests should be sent to:
Compliance Manager
LoanBookers
28-32 Wellington Road
London NW8 9SP
Exclusions
The obligations and responsibilities of any breach of contract of or by LoanBookers do not extend beyond the agreement with the client and do not include any obligation to any bank, counterparty, intermediary or other third party connected to the client.The client takes full responsibility for any loss or damage incurred through the provision of misleading or incorrect information to LoanBookers by the client.
Should loss arise from non-performance of LoanBookers there will be no liability held against LoanBookers if this is caused by something beyond our reasonable control, including changes in the law or regulations affecting LoanBookers normal operations.
Apart from provisions expressly covering associate companies, nothing in these terms is enforceable by anyone who is not a party to them.
Complaints
LoanBookers aims to offer an excellent service to all its clients. If you feel that LoanBookers has failed to provide its service or wish to make a formal complaint of any kind, write to:Compliance Manager
LoanBookers
28-32 Wellington Road
London NW8 9SP
Email: feedback@loanbookers.com
A response to your complaint will be provided within 8 weeks of receipt of the letter of complaint.
Should you wish to pursue your complaint further or should you be unhappy with the response you have received you can refer your complaint to the Financial Ombudsman Service:
Financial Ombudsman Service,
South Quay Plaza,
183 Marsh Wall,
London E14 9SR.
Financial Ombudsman Service