PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE USING THIS SITE

WHAT’S IN THESE TERMS?

These terms tell you the rules for using our website www.propfin.com (our site).

Click on the links below to go straight to more information on each area:


WHO WE ARE AND HOW TO CONTACT US

www.propfin.com is a site operated by Propfin Ltd (”We” or “PropFin”).

PropFin is a private limited company registered in England and Wales under company number 09885474. We have our registered office at 20-22 Bedford Row, London, WC1R 4JS, United Kingdom. Our VAT number is GB254558876.

To contact us, please email info@propfin.com or telephone our customer service line on 0203 893 7970.

A reference to our “Affiliates” in these terms of use is a reference to any subsidiary of PropFin, any holding company of PropFin and any other subsidiary of any such holding company, and reference to a “holding company” or a “subsidiary” means a holding company or (as the case may be) a subsidiary within the meaning of section 1159 of the Companies Act 2006.

WHAT WE DO

PropFin provides advisory services in relation to secured bridging loans for real estate purchase (“Bridging Loans”) and secured loans to acquire/refinance real estate for development (“Development Loans” and, together with Bridging Loans, “Loans”). We will only provide our services to lenders (“Lenders”) making Loans. We only deal with Loans which meet the following conditions (“PropFin’s Conditions”):

  1. the borrower must be a professional developer resident in the United Kingdom with a track record of real estate development;
  2. the borrower must be an individual or an incorporated entity (e.g. a company or English law limited liability partnership) entering into the loan agreement for its own account (and must not be acting as a trustee or as an agent for anyone else);
  3. the Loan and any other sums due under the agreement under which the Loan is advanced (the “Loan Agreement”) must be secured by a first legal mortgage on land in the United Kingdom (the “Property”); and
  4. if the borrower is an individual:
    1. the Loan Agreement must be entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower;
    2. the borrower must be acting for the purposes of his or her trade, business or profession; and
    3. less than 40 per cent. of the Property is used, or intended to be used, as or in connection with a dwelling by the borrower or any Related Person.

A “Related Person” in relation to the borrower means (i) the borrower’s spouse or civil partner, (ii) a person (whether or not of the opposite sex) whose relationship with the borrower has the characteristics of the relationship between husband and wife or (iii) the borrower’s parent, brother, sister, child, grandparent or grandchild.

WHAT WE DO NOT DO

PropFin is not regulated by the Financial Conduct Authority and does not, and may not, carry on any activities which would require it to be authorised under the Financial Services and Markets Act 2000.

PropFin does not provide advice, assistance or any kind of service to borrowers or potential borrowers. If a borrower uses our site to make an application for a Loan, PropFin will act exclusively for the Lender and the borrower will not be PropFin’s customer for any purpose. PropFin does not make Loans itself and is not empowered to commit any Lender to make a Loan. PropFin is also not empowered to take steps to perform the duties of a Lender, or to exercise or enforce the rights of a Lender, under any Loan Agreement with a borrower who is an individual.

PropFin does not deal in any way with Regulated Credit Agreements or Regulated Mortgage Contracts (as defined in the Financial Markets and Services Act 2000 (Regulated Activities) Order 2001). PropFin will only deal with Loans of over £25,000 and the PropFin Conditions are intended to ensure that no Loan applied for through the site will be a Regulated Credit Agreement or a Regulated Mortgage Contract. In entering into a Loan Agreement, a borrower will be required to represent and warrant certain factual matters about the borrower’s compliance with the PropFin Conditions. Accordingly, it is essential that borrowers only make the requested representations and warranties if they are certain that the representations and warranties are correct. If you have any questions about the PropFin Conditions or how they apply to you, you must raise this with PropFin immediately.

If the borrower is an individual, the borrower should note that, as a result of the Loan Agreement not being a Regulated Credit Agreement or Regulated Mortgage Contract:

  1. the borrower will not have the benefit of the protection and remedies that would have been available to them under the Financial Services and Markets Act 2000 or under the Consumer Credit Act 1974 if the Loan Agreement had been a regulated agreement under those Acts (i.e. a Regulated Credit Agreement or a Regulated Mortgage Contract);
  2. powers of the court to make an order under section 140B of the Consumer Credit Act 1974 in relation to a credit agreement where it determines that the relationship between the lender and the borrower is unfair to the borrower are unaffected;
  3. if the borrower is in any doubt as to the consequences of the Loan Agreement not being regulated by the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974, then the borrower should seek independent legal advice; and
  4. the borrower will, in the Loan Agreement, be required to make a formal declaration acknowledging the statements at (a) to (c) above.

PropFin does not provide any price comparison or similar tools and our site will only provide information on, and facilitate application for, our clients’ products. Currently, PropFin only acts for one Lender and it does not anticipate ever acting for more than a limited number of Lenders. Potential borrowers should consider all potential Loan products available to them (whether through our site or any other source) before selecting a product.

THE PURPOSE FOR WHICH THIS SITE MAY BE USED

This site may be used by potential borrowers for the purpose of making an application for a Loan meeting PropFin’s Conditions (or assessing whether to make such an application). It may not be used by any other person or for any other purpose.

Please note that the Lender (and not PropFin) will assess and decide whether or not to make a Loan available. In addition to the PropFin Conditions, the proposed Loan must meet the Lender’s own threshold product specification (the “Lender’s Conditions”). The Lender’s Conditions are not exhaustive and the Lender will exercise its own independent judgement as to whether to make a Loan available and may refuse an application or impose additional requirements even if the Lender’s Conditions are met. Neither our site nor any other system provided by PropFin is capable of determining whether a Lender will make a Loan available.

Our site facilitates online Loan applications by potential borrowers to a Lender. If the Lender’s Conditions are met (on the basis of the information provided by a potential borrower) our site will generate a document entitled “Offer in Principle”. Please note that any Offer in Principle is indicative only and subject to contract. Neither any Offer in Principle nor any other communication received on or through our site or otherwise made by PropFin constitutes an offer or commitment to make a Loan available or a commitment or an indication that a Loan will be made available. The Lender will only be committed to make a Loan if and when a legally binding Loan Agreement is entered into between the Lender and the borrower (and any such commitment will be subject to the conditions precedent and other terms set out in the Loan Agreement). The terms of any Loan Agreement (including commercial terms such as the amount and duration of the Loan and the applicable interest rate) may differ from those referred to in any Offer in Principle. Once the Offer in Principle has been received, the borrower will be required to provide further information to complete the application process and the Loan application will be subject to further due diligence including a valuation by a valuer appointed by the Lender.


BY USING OUR SITE YOU ACCEPT THESE TERMS

By using our site, you confirm that you accept these terms of use and that you agree to comply with them.

If you do not agree to these terms, you must not use our site.

We recommend that you print a copy of these terms for future reference.


THERE ARE OTHER TERMS THAT MAY APPLY TO YOU

These terms of use refer to the following additional terms, which also apply to your use of our site:

  • Our Privacy Policy which sets out the terms on which we process any personal data we collect from you, or that you provide to us. By using our site, you consent to such processing and you warrant that all data provided by you is accurate.

If you receive an Offer in Principle and wish to progress your application you will be required to agree to the Lender’s Standard Terms of Business. A link to the Lender’s Standard Terms of Business will be provided with the Offer in Principle.


WE MAY MAKE CHANGES TO THESE TERMS

We may amend these terms from time to time. Every time you wish to use our site, please check these terms to ensure you understand the terms that apply at that time.


WE MAY MAKE CHANGES TO OUR SITE

We may update and change our site from time to time to reflect changes to our products, our users’ needs, our business priorities and the requirements of Lenders.


WE MAY SUSPEND OR WITHDRAW OUR SITE

Our site is made available free of charge.

We do not guarantee that our site, or any content on it, will always be available or be uninterrupted. We may suspend or withdraw or restrict the availability of all or any part of our site for business and operational reasons. We will try to give you reasonable notice of any suspension or withdrawal.

You are also responsible for ensuring that all persons who access our site through your internet connection are aware of these terms of use and other applicable terms and conditions, and that they comply with them.

Our site is directed to people residing in England and Wales. We do not represent that content available on or through our site is appropriate for use or available in other locations.


YOU MUST KEEP YOUR ACCOUNT DETAILS SAFE

If you choose, or you are provided with, a user identification code, password or any other piece of information as part of our security procedures, you must treat such information as confidential. You must not disclose it to any third party.

We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these terms of use.

If you know or suspect that anyone other than you knows your user identification code or password, you must promptly notify us at support@propfin.com.


HOW YOU MAY USE MATERIAL ON OUR SITE

We are the owner or the licensee of all intellectual property rights in our site, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

You may print off one copy, and may download extracts, of any page(s) from our site for your personal use and you may draw the attention of others within your organisation to content posted on our site.

You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.

Our status (and that of any identified contributors) as the authors of content on our site must always be acknowledged.

You must not use any part of the content on our site for any purpose other than as permitted in THE PURPOSE FOR WHICH THIS SITE MAY BE USED without obtaining a licence to do so from us or our licensors, or unless expressly authorised by us.

If you print off, copy or download any part of our site in breach of these terms of use, your right to use our site will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.


DO NOT RELY ON INFORMATION ON THIS SITE

The content on our site is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date.

Where you make an application for a Loan via our site, your use of any Offer in Principle or other information or content supplied to you as a result of such enquiry or request shall be governed by the Lender’s Standard Terms of Business in addition to these terms of use.


WE ARE NOT RESPONSIBLE FOR WEBSITES WE LINK TO

Where our site contains links to other sites and resources provided by third parties, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them.

We have no control over the contents of those sites or resources.


USER-GENERATED CONTENT IS NOT APPROVED BY US

This website may include information and materials uploaded by other users of the site, including to bulletin boards and chat rooms. This information and these materials have not been verified or approved by us. The views expressed by other users on our site do not represent our views or values.

If you wish to complain about information and materials uploaded by other users please contact us.


OUR RESPONSIBILITY FOR LOSS OR DAMAGE SUFFERED BY YOU

Our site is intended for business users only.

We exclude all implied conditions, warranties, representations or other terms that may apply to our site or any content on it.

We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with:

  • use of, or inability to use, our site; or
  • use of or reliance on any content displayed on our site.

In particular, we will not be liable for:

  • loss of profits, sales, business, or revenue;
  • business interruption;
  • loss of anticipated savings;
  • loss of business opportunity, goodwill or reputation; or
  • any indirect or consequential loss or damage.


CONFIDENTIALITY UPLOADING CONTENT TO OUR SITE

Whenever you send us information via our site (including in connection with an application for a Loan), make use of a feature that allows you to upload content to our site, or to make contact with other users of our site, you must comply with our Content Standards.

You warrant that any such Contribution does comply with those standards, and you will be liable to us and indemnify us for any breach of that warranty. This means you will be responsible for any loss or damage we suffer as a result of your breach of warranty.

Any content or information you upload to our site, or otherwise provide or make available to us, our Affiliates, a Lender or our respective partners, suppliers or agents for the purposes of a Loan application will be governed by the Lender’s [Standard Terms of Business] in addition to these terms of use. We may make all such information and content available to Lenders, any other person proposing making, acquiring, financing or having any economic interest in a Loan and their respective advisers.

Any other content or information you otherwise upload to our site, or otherwise provide or make available to us, our Affiliates, Lenders or our respective partners, suppliers or agents will be considered non-confidential and non-proprietary.

We also have the right to disclose your identity to any third party who is claiming that any content posted or uploaded by you to our site constitutes a violation of their intellectual property rights, or of their right to privacy.

We have the right to remove any posting you make on our site if, in our opinion, your post does not comply with our Content Standards.

You are solely responsible for securing and backing up your content.


PROHIBITED USES

You may use our site only for lawful purposes. You may not use our site:

  • In any way that breaches any applicable local, national or international law or regulation.
  • In any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect.
  • For the purpose of harming or attempting to harm minors in any way.
  • To send, knowingly receive, upload, download, use or re-use any material which does not comply with our Content Standards.
  • To transmit, or procure the sending of, any unsolicited or unauthorised advertising or promotional material or any other form of similar solicitation (spam).
  • To knowingly transmit any data, send or upload any material that contains viruses, Trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware.

You also agree:

  • Not to reproduce, duplicate, copy or re-sell any part of our site in contravention of the provisions of these terms of website use.
  • Not to access without authority, interfere with, damage or disrupt:
  • any part of our site;
  • any equipment or network on which our site is stored;
  • any software used in the provision of our site; or
  • any equipment or network or software owned or used by any third party.


INTERACTIVE SERVICES

We may from time to time provide interactive services on our site, including, without limitation:

  • Chat rooms.
  • Bulletin boards.

(“Interactive Services”).

Where we do provide any interactive service, we will provide clear information to you about the kind of service offered, if it is moderated and what form of moderation is used (including whether it is human or technical).

We will do our best to assess any possible risks for users (and in particular, for children) from third parties when they use any interactive service provided on our site, and we will decide in each case whether it is appropriate to use moderation of the relevant service (including what kind of moderation to use) in the light of those risks. However, we are under no obligation to oversee, monitor or moderate any interactive service we provide on our site, and we expressly exclude our liability for any loss or damage arising from the use of any interactive service by a user in contravention of our content standards, whether the service is moderated or not.

The use of any of our interactive services by a minor is subject to the consent of their parent or guardian. We advise parents who permit their children to use an interactive service that it is important that they communicate with their children about their safety online, as moderation is not foolproof. Minors who are using any interactive service should be made aware of the potential risks to them.

Where we do moderate an interactive service, we will normally provide you with a means of contacting the moderator, should a concern or difficulty arise.


CONTENT STANDARDS

These content standards apply to any and all material which (i) you contribute to our site, or (ii) otherwise provide or make available to us, our Affiliates or our respective partners, suppliers or agents, including for the purposes of a Loan Enquiry, (“Contributions”), and to any Interactive Services associated with the same.

You must comply with the spirit and the letter of the following standards. The standards apply to each part of any contribution as well as to its whole.

Contributions must:

  • Be accurate (where they state facts).
  • Be genuinely held (where they state opinions).
  • Comply with applicable law in the UK and in any country from which they are posted.

Contributions must not:

  • Contain any material which is defamatory of any person.
  • Contain any material which is obscene, offensive, hateful or inflammatory.
  • Promote sexually explicit material.
  • Promote violence.
  • Promote discrimination based on race, sex, religion, nationality, disability, sexual orientation or age.
  • Infringe any copyright, database right or trade mark of any other person.
  • Be likely to deceive any person.
  • Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
  • Promote any illegal activity.
  • Be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety.
  • Be likely to harass, upset, embarrass, alarm or annoy any other person.
  • Be used to impersonate any person, or to misrepresent your identity or affiliation with any person.
  • Give the impression that they emanate from us, if this is not the case.
  • Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.


SUSPENSION AND TERMINATION

We will determine, in our discretion, whether there has been a breach of these terms of use (including, in particular the Content Standards through your use of our site. When a breach of this policy has occurred, we may take such action as we deem appropriate.

Failure to comply with these terms of use may result in our taking all or any of the following actions:

  • Immediate, temporary or permanent withdrawal of your right to use our site.
  • Immediate, temporary or permanent removal of any posting or material uploaded by you to our site.
  • Issue of a warning to you.
  • Legal proceedings against you for reimbursement of all costs on an indemnity basis (including, but not limited to, reasonable administrative and legal costs) resulting from the breach.
  • Further legal action against you.
  • Disclosure of such information to law enforcement authorities as we reasonably feel is necessary.

We exclude liability for actions taken by us in response to breaches of these terms of use by you. The responses described in this policy are not limited, and we may take any other action we reasonably deem appropriate.


WE ARE NOT RESPONSIBLE FOR VIRUSES AND YOU MUST NOT INTRODUCE THEM

We do not guarantee that our site will be secure or free from bugs or viruses.

You are responsible for configuring your information technology, computer programmes and platform to access our site. You should use your own virus protection software.

You must not misuse our site by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful. You must not attempt to gain unauthorised access to our site, the server on which our site is stored or any server, computer or database connected to our site. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our site will cease immediately.


RULES ABOUT LINKING TO OUR SITE

You may link to our home page, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it.

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.

You must not establish a link to our site in any website that is not owned by you.

Our site must not be framed on any other site, nor may you create a link to any part of our site other than the home page.

We reserve the right to withdraw linking permission without notice.

The website in which you are linking must comply in all respects with our Content Standards.

If you wish to link to or make any use of content on our site other than that set out above, please contact support@propfin.com


WHICH COUNTRY’S LAWS APPLY TO ANY DISPUTES?

These terms of use, their subject matter and their formation (and any non-contractual disputes or claims) are governed by English law. We both agree to the exclusive jurisdiction of the courts of England and Wales.


OUR TRADE MARKS ARE REGISTERED

PropFin and the PropFin logo are UK registered trade marks of Propfin Ltd. You are not permitted to use them without our approval, unless they are part of material you are using as permitted under How you may use material on our site.