Lender Terms and Conditions from 11th April 2024
IT IS IMPORTANT THAT YOU UNDERSTAND THE FOLLOWING RISK WARNING AND THAT YOU READ THESE TERMS CAREFULLY:
1 RISK WARNING
Peer-to-Peer (“P2P”) lending is not covered by the Financial Services Compensation Scheme (FSCS). Consequently, your capital may be at risk if a Borrower fails to repay a Loan that you have participated in.
We do not provide any advice, nor do we make any recommendations to our Lender Members. We solely perform, on an “execution only” basis, the matching of business Borrowers to you as lender at your request.
For the avoidance of doubt, any information provided on the Website does not constitute a personal recommendation as defined under the FCA Handbook. If you have any questions on whether a loan is a suitable investment or any concerns you should obtain appropriate independent advice involving a personal recommendation. The information is not intended to be relied upon as a sole basis for deciding whether or not to commit to lending via the Platform. 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 participate in any particular loan or loans or otherwise buy or sell investments, securities or any other financial services or banking product. If you are unsure about whether a participation in a loan is suitable you should contact an independent financial adviser.
You should consider whether our lending Services meet your acceptable risk levels and investment objectives and you should only commit such funds for which you are able to financially bear the risk of loss considering all other financial commitments.
Any due diligence that we may perform on a Borrower or their related property is not an endorsement by us of such Borrower and should not be relied upon when considering a Loan Opportunity.
By using our Services, you confirm that you have the necessary experience and knowledge in order to understand the risks involved in the transaction or are able to take advice from a relevant qualified investment professional or advisor to assist your understanding of the risks involved.
We will not be responsible for the suitability of any Loan Opportunity for you or any purpose for which you subscribe for it. You should consider carefully the terms of the risk statement before making a Loan Commitment.
2. INTRODUCTION
2.1 We provide a Platform via our Website. The purpose of the Platform is to facilitate the arrangement of secured credit agreements to finance commercial Loans between Lender Members and Borrowers.
This agreement outlines the terms and conditions (“Terms”) between you and MORGAN Loans Ltd (“we”, “us”) and forms the basis of your relationship with us and the terms on which you will participate in Loans.
2.3 Your agreement to these Terms shall be indicated by way of acceptance via our Platform. We will send a confirmation email to the email address you provide us during registration that marks the start of the agreement between you and us. You must read these conditions carefully before agreeing and retain a copy for future reference. Please refer to clause 28 for information regarding amendments to the Terms.
2.4 Where we have published a document which is referred to within these Terms (such as a policy statement), the content of the document shall also form part of this agreement and shall be deemed as being accepted by you. In the instance of any inconsistencies or contradictions between these Terms and a document referenced within them, the meaning taken from the Terms shall prevail.
3. LEGAL & REGULATORY
3.1 We are required to inform you of the measures we take to ensure that any Loan Agreements in which you participate continue to be managed and administered, in accordance with the terms of the Loan Agreements and these Terms, if we cease to operate the Platform. At all times we manage our Loans in such a way to ensure that income we earn from Loan Agreements is sufficient to cover our costs of managing and administering those Loan Agreements during any winding down process, taking into account the reduced number of Loans and reduced fee income from them.