- 1.1 Credit Peers Limited ("Credit Peers", "us", "we") is a limited liability company registered in England and Wales, number 09750433. Our registered office address is Devonshire House, 60 Goswell Road, London, United Kingdom EC1M 7AD. We are an appointed representative of Resolution Compliance Limited, which is authorised and regulated by the Financial Conduct Authority ("FCA") under firm reference number 574048.
- 1.2 We provide a platform (the “Platform”) via www.creditpeers.com (the “Website”). The purpose of the Platform is to facilitate the arrangement of secured credit agreements to finance or refinance the purchase or development of real estate assets (“Loan Agreements”) between borrowers and lenders. Lenders can be individuals or corporate bodies. Borrowers cannot be individuals.
- 1.4 We can make changes to these Terms, the Lender Terms and/or to the way we operate the Website or Platform from time to time and will take reasonable steps to bring any material changes to your attention. If you do not agree to these Terms or to any changes made to them, you must not use, and must cease using, the Website and the Platform.
These Terms are governed by the laws of England and Wales and the courts of England and Wales will have exclusive jurisdiction in relation to any and all disputes arising from them. If we have a dispute regarding your use of the Website, the Platform or these Terms, the courts will use English law to determine that dispute, and you and we will submit to the exclusive jurisdiction of the English courts. However, if you are using this Website as a consumer, you will have the right to have your dispute or claim heard by the courts in your home jurisdiction.
The information and services provided on the Website are not provided to, and may not be used by, any person or entity in any jurisdiction where the provision or use thereof would be contrary to applicable laws, rules or regulations of any governmental authority or where Credit Peers is not authorised to provide such information or services. Some products and services described in the Site may not be available in all jurisdictions or to all clients.
If any provision of these Terms is or becomes illegal, invalid or unenforceable that will not affect the legality, validity or enforceability of any other provision of these Terms.
- 1.7 A person who is not a party to these Terms has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of these Terms.
- 1.8 These Terms apply to your use of the Website and the Platform generally and unless otherwise stated apply equally to lenders and borrowers.
- 1.9 These Terms and conditions apply howsoever you decide to access the Platform (including through the Website or through any mobile device application).
If you are lending through the Platform, these Terms should be read in conjunction with the Lender Terms which will be presented to you for acceptance before you deposit funds to lend or, for corporate lenders, with any terms individually negotiated with us.
If you are borrowing through the Platform, these Terms should be read together with the terms and conditions contained in your Loan Agreement and ancillary documents.
- 1.12 If you have any questions about these Terms, please contact our Customer Services team via www.creditpeers.com/contact or by email at firstname.lastname@example.org.
2. ACCESS TO AND USE OF THE WEBSITE
- 2.1 We do not guarantee that the Website, or any content on it, will always be available or be uninterrupted. Access to the Website is permitted on a temporary basis and we may need to suspend access to the Website, or any part of it, without notice where we are required to do so by any Applicable Law or where the Website is unavailable through no fault of our own. In other circumstances we will give you at least 14 days prior notice by posting such notice on the Website before it will be unavailable.
We will not be liable to you if, for any reason (other than our negligence, breach of contract, wilful default or fraud), the Website is unavailable at any time or for any period.
- 2.3 You are responsible for making all arrangements necessary for you to have access to the Website.
You will not access or use the Website or the Platform except for their intended purpose and will not attempt to:
- a) gain unauthorised access to, make unauthorised alterations to, or introduce any kind of malicious code to the Website, the Platform or Credit Peers by any means;
- b) reverse engineer or decompile (whether in whole or part) the Platform or any software available through the Website;
- c) make copies, modify, reproduce, transmit, alter or distribute all or any part of the Platform or Website or any material or information contained in them, other than as permitted by law;
- d) use the Website or Platform for any purpose that is unlawful under any Applicable Law;
- e) use the Website or Platform to commit any act of fraud;
- f) use the Website or Platform to simulate communications from us or another service or entity in order to collect identity information, authentication credentials, or other information (‘phishing’) ; or
- g) use the Website or Platform in any manner that disrupts their operation.
You will not disguise or interfere in any way with the IP address of the computer you are using to access the Website or otherwise take steps to prevent us from correctly identifying the actual IP address of the computer you are using whilst accessing the Website.
- 2.7 The Website may contain hyperlinks or references to third party websites. Any such hyperlinks or references are provided for your information and convenience only. We have no control over third party websites and accept no legal responsibility for any content, material or information contained in them. The display of any hyperlink and reference to any third party website does not mean that we endorse that third party's website, products or services. Your use of a third party site will be governed by the terms and conditions of that third party site.
We do not guarantee that the Website will be secure or free from bugs or viruses.
You are responsible for configuring your information technology, computer programmes and platform in order to access the Website and the Platform. You should use your own virus protection software.
3. YOUR CREDIT PEERS ACCOUNT
By making an application to borrow or registering as a lender on the Platform, you agree and confirm:
- a) all the information you have provided is accurate and correct and you are the person whose details you have provided;
- b) you can enter into a legally binding agreement with us;
- c) you will only use the Platform for lending or borrowing purposes as envisaged by these Terms and the applicable Lender Terms or Loan Agreement;
- d) you have provided a current address, telephone number and e-mail address and will notify us immediately if your contact details change;
- e) in the case of an individual, you are 18 years of age or over and capable of taking responsibility for your own actions;
- f) in the case of a company, LLP or partnership, you are duly authorised to act on its behalf;
- g) you hold a current account at a UK bank or building society; and
- 3.2 You must provide us with all information requested during the application process and comply with all our identification and anti-money laundering requirements to enable us to comply with all laws, regulations, rules and regulatory guidance applicable to the Platform.
- 3.3 We reserve the right, in our sole discretion, to refuse to register you as a member of the Platform for any reason.
- 3.4 When you register as a Lender, you will need to be classified as an investor type. You will need to provide the relevant information to us, which you warrant to be truthful and accurate, in order that we can classify you. Please follow the steps when signing up to complete this process. If you no longer fall into at least one of the categories of investor available, you will give immediate notice to Credit Peers and you will not access, or try to access the service unless and until you fall into one or more of these categories again.
- 3.5 When you register as a lender or apply to borrow on the Platform you will be given a Credit Peers account (“Credit Peers Account”) and asked to set a password. You agree to keep your password and Credit Peers account number strictly confidential and you must not disclose them to any third party. You agree to protect them in the same way as you would details of your bank account or your bank cards. Any failure to do so will be at your sole risk and expense.
- 3.6 You agree that we are entitled to assume all correspondence, orders, transfers and instructions made by reference to your password and account number are made by you. You agree to inform us immediately by e-mail and by telephone if you know or suspect that any of your account information or password has been compromised or are being misused so that we may suspend your account.
We have the right to disable any Credit Peers Account or password at any time if, in our reasonable opinion, you have failed to comply with any material provisions of these Terms.
- 3.1 By making an application to borrow or registering as a lender on the Platform, you agree and confirm:
There are two ways to lend money on the Platform: As a lender, no fees are payable by you to use the Platform, other than any Mangopay transaction fees incurred in connection with clause 3.6 of the Lender Terms.
As a borrower, various fees will be payable to Credit Peers and its affiliates for their roles in arranging loans and administering the Platform. Such fees will be set out in the term sheet for your proposed loan.
- 4.3 We can waive or offer discounts on any of our fees to any person at any time in our sole and absolute discretion, taking into account our regulatory obligations at all times.
- 4.4 We can change any of our fee rates from time to time to reflect legitimate cost increases or reductions in operating the Platform or providing any services under these Terms or the Lender Terms. We will give you at least 30 days' notice of any change in our fees in accordance with Clause 1.4. Any such changes in fees will only affect borrower requests and Loan Agreements made on and after the date on which the change is stated to take effect.
All fees are exclusive of any applicable value added tax or other taxes, for which the person paying the relevant fee will be liable.
5. DATA ACCURACY AND ERRORS
You agree to inform us as soon as possible if any information provided by you or contained in your Credit Peers account changes and/or if you become aware of any errors with respect to your Credit Peers account.
The content on the Website is provided for general information only and is not intended to amount to advice on which you should rely. Although we make reasonable efforts to update the information on the Website, we make no promises that the content on the Website is accurate, complete or up to date.
- 5.3 We reserve the right to remove from the Platform any loan offers which are the subject of any error or for any other reason.
6. INTELLECTUAL PROPERTY
We are the owner or the licensee of all intellectual property rights in the Website and the Platform and in the material published on them. These works are protected by copyright laws and all such rights are reserved.
- 6.2 Credit Peers and the Credit Peers logo are trade marks of Credit Peers Holdings Limited. Credit Peers Holdings Limited is the sole owner of the same. You will not make any unauthorised use of the Credit Peers trade marks and any unauthorised use can result in legal action being taken against you.
www.creditpeers.com is the uniform resource locator ("URL") of our Company. You will not make any use of this URL (or any other URL owned by us) on another website or digital platform without our prior written consent.
- 6.4 Credit Peers owns all rights in any price data and related content on the Platform. Your registration and use of our Platform does not transfer any rights to the content and related intellectual property rights contained in our Platform. Except as otherwise permitted by law, you agree not to monitor, use or copy our web pages or any content on the Platform, including without limitation, any price data without our prior consent. Any unauthorised use or reproduction can be prosecuted.
- 6.5 Any data licensed to Credit Peers from third parties is provided for use on the Website only and may not be used for any commercial purposes without the consent of such third parties.
7. OUR LIABILITY TO YOU
- 7.1 Nothing in these Terms excludes or limits either our, or your, liability for fraud (including fraudulent misrepresentation or concealment), breach of contract, wilful default, negligence or any other liability which cannot be lawfully excluded or limited (including any liability with respect to death and personal injury resulting from our negligence, or that of our employees, agents or subcontractors). Nothing in these Terms will limit our liability owed by us to you under the Financial Services and Markets Act 2000 (“FSMA”) or the Handbook of the FCA available at http://fshandbook.info/FS/html/FCA/ ("FCA Rules"), and in the event of any conflict between the these Terms and FSMA or the FCA Rules then FSMA or the FCA rules (as the case may be) will prevail.
We can’t guarantee that this Website will be:
- a) compatible with all or any hardware and software which you use;
- b) available all the time or at any specific time; or
- c) accurate and up to date.
We provide a service and platform to facilitate access to finance. The content and material available via the 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. If you are unsure about whether a product is suitable you should contact an independent financial adviser.
Any liability arising out of a breach of these Terms will be limited to any loss or damage that is a reasonably foreseeable consequence of such a breach and which arises directly from the actions of the defaulting party. Neither party shall be liable for any loss of profits, sales business or revenue.
We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty or otherwise, arising under or in connection with your:
- a) use of, or inability to use, the Website and/or the Platform; or
- b) use of or reliance on any content displayed on the Website and/or the Platform, except where such liability arises as a result of our breach of contract, negligence or fault.
- 7.6 We will not be liable for any loss or damage that you may suffer because of any abnormal or unforeseeable circumstances outside our reasonable control which would have been unavoidable despite all efforts to the contrary, for example, delays or failures caused by problems with another system or network, any breakdown or failure of transmission, communication, data processing or computer facilities, mechanical breakdown, an act of state or government, war, riot or terrorism, any act of God, the suspension of any market, postal or other strikes or similar industrial action or any prevention from or hindrance in obtaining any materials, energy or other supplies necessary for the performance of our obligations under these Terms.
- 7.7 We use industry standard techniques to protect our Website from viruses and attacks but cannot guarantee that our Website will be free from viruses or other malicious software. We will not be liable for any loss or damage caused by a virus, distributed denial-of-service attack, or other technologically harmful material that infects your computer equipment, computer programs, data or other proprietary material due to your use of our Website or to your downloading of any content on it, or on any Website linked to it.
We will have no liability for not displaying on the Website, for withdrawing or for not matching with any prospective lender or borrower, any offer to lend or application to borrow which you submit to us.
Credit Peers and you will keep confidential and will not disclose to any third party any information that is marked or otherwise indicated as being confidential, except information that any of us is bound to disclose under any related amendment, re-enactment, subordinate legislation and regulations ("Applicable Law") or by order or request of any regulatory authority or by a court of law, or to our respective professional advisers for the purposes contemplated in these Terms, or in our cases, where disclosure is necessary to exercise any of our rights or perform any of our obligations under these Terms.
We can terminate the Terms by notice in writing to you at any time in the event that:
- a) you are in material breach of any term of these Terms; and/or
- b) you breach any term of any Loan Agreement or related agreement to which you are a party; and/or
- c) we suspect that you have used the Platform or the Website, or intend to use the Platform or the Website, for the purpose of an illegal activity.
- 9.2 You can terminate these Terms by providing 7 days' written notice to us, provided you have no loan offers outstanding or borrowers’ requests to borrow money via the Platform open to offers on the Platform at the time of your request.
- 9.3 On termination of these Terms, any of your funds linked to your Credit Peers Account will, subject to any restriction under Applicable Law, be returned to you.
- 9.4 Following termination of these Terms, we will provide you with limited access to the Website and your Credit Peers Account for a period of 7 days to download any of your user content or information relating to loans made by or to you via the Platform. Upon the expiry of that 7 day period, your access to your Credit Peers Account and the Platform will be terminated and we will have no obligation to store or provide you with access to any information relating to your activity on the Platform.
- 9.1 We can terminate the Terms by notice in writing to you at any time in the event that:
- 10.1 We can link to other websites which are not within our control. Once you have left our Website, we cannot be responsible for the content of other websites or for the protection and privacy of any information which you provide on these websites. Please note that these websites have their own privacy policies and website terms and conditions. We do not accept any responsibility or liability for these policies, nor do we endorse the content of these websites. Please check their privacy policies and their website terms and conditions when you visit them and before you submit any personal data to these websites.
You may link to this Website from another website without our consent in writing if you:
- a) link only to the homepage of the Website at www.creditpeers.com;
- b) don’t create frames or any other border around the Website;
- c) comply with all relevant laws and regulations on the website or platform you are linking from; and
- d) don’t imply that we endorse or are associated with your (or any other) website, product or service.
- 10.3 You may not link to this Website from another Website which contains inappropriate or distasteful content which reflects badly on us.
- 10.4 You may not link to this Website from another Website which contains inappropriate or distasteful content which reflects badly on us.
- 11.1 We consider a complaint as being defined as an expression of dissatisfaction made by you in relation to any of the services we provide. In the event that you make a complaint, we will make every effort to rectify the problem as soon as practicably possible. If you have any complaint about this Website or any of the goods or services we provide, you should contact our complaints department via email@example.com and we will try and resolve it as soon as possible.
- 11.2 If you feel that your complaint or grievance has not been dealt with satisfactorily, you have the right to take your complaint to the Financial Ombudsman. If you have not received a final response letter from us within eight weeks of raising your complaint, or the final response letter has been received but is not satisfactory to you, you will need to bring your complaint to the Financial Ombudsman within six months. You can contact the Financial Ombudsman at The Financial Ombudsman Service, Exchange Tower, London, E14 9SR or by calling them on 0800 023 4 567.
- 11.3 If you do refer your complaint to the Financial Ombudsman Service, this will not affect your right to take legal action
- 12.1 The provisions of these Terms are personal to you and you cannot assign or transfer any of your rights or obligations under these Terms.
- 12.2 We can assign our respective rights and obligations under these Terms.