Terms and Conditions

The small print!

1. Terms of Business

1.1. This agreement is made this day of Monday the 06th of September 2010 between Eland Business Services Limited situated at 57 Eland Way,Cherry Hinton, Cambridge CB1 9XQ ("The Company") of the one part and Client Co. of Client Address ("The Borrower/Lessee") wherein the company has agreed to advise on and arrange a business loan thereof.

1.2. Upon completion of this form and where a lender has made a firm offer, should your application not proceed to completion (i.e. you decline the lenders offer) you will still be under an obligation to pay our administration fee. Where Applicable Only See FAQ.

1.3. Upon completion of this application form, the information which you provide or which we obtain through our dealings with you or in connection with your account will be held on our records even if your application does not proceed to completion. In particular:

• We will use the information to aid us to provide you the service(s) you are applying for.
• We will record at a credit reference agency/ies who will supply the lender with information from the electoral register. The agencies will then record this search whether or not your application proceeds. The lender may use automated credit scoring methods to assess this application and verify your identify. Information held about you at credit reference agencies may already be linked to records relating to one or more of those with whom you are or have been financially linked and your application will be assessed with reference to any "associated records".
• Where you apply jointly with another applicant your financial details may be linked with theirs. This link will continue until you successfully file a disassociation with the relevant credit agency/ies. The credit agency will add to their records our search regarding your application.
• The bank or any other lending institution that we may instruct, will be authorised to undertake all the aforementioned credit searches pursuant to this agreement. In addition we are authorised to release any information in our knowledge that we deem necessary to further this application to completion. A photographic or faxed copy of this authorisation shall be as valid as the original.
• To prevent or detect fraud, or to assist in verifying your identity, the lender may instruct searches with fraud prevention agencies who will supply information. This information may thereon be passed to other organisations to protect ourselves and other clients against fraud. If you give us false information or inaccurate information and we suspect fraud, we will record this. We and other companies may search these records and use this information if decisions are made about you and others at your address related to any financial or insurance service. It may also be used for debt recovery, identity verification and claims assessment.
• You have a legal right to this information and you may telephone us should you want to assess it.
• Your information may be passed onto your solicitor, financial or any organisation that may be instructed to assist in furthering your loan application. This may include any previous employer, accountant bank landlord or mortgagee or other appropriate person that the lender seeks a reference from.

2. Data Protection Data Protection Act Declaration By signing this document

• I/We confirm that I have read clause 1.3 and agree that the information I have provided in this application, and any other information relating to my account(s), may be processed and disclosed in the ways described.
• I/We agree that my/our personal data may be shared with any company from time to time together with the introducer and any associated companies (if applicable) and Insurers (if applicable) who may also use it in the ways described in Section 1.
• I/We agree that information on the performance of my/our account(s) may be shared with Credit Reference Agencies and may be used by other lenders for credit assessment.
• I/We agree that any sensitive information obtained will only be processed in order to provide the service requested.
• I/we are entitled to disclose information about any co-applicant or guarantor and/or any one else referred to by me/us and I authorise any bank or lending institution to search and/or record the information at Credit Reference Agencies about each of us. I/We understand that an "association" will be created at the Credit Reference, which will link our financial records.
• "This association" will remain between the bank or lending institution and credit agency until one of us successfully applies for disassociation with the Credit Reference Agency Do not sign this form unless you are satisfied that the contents are accurate UNDER NO CIRCUMSTANCES SHOULD YOU SIGN THE FORM IF BLANK. The contents of this form will be the basis of any contract between the lender and you and in signing you are certifying that the information additional information attached, is correct.

3. Declaration

3.1. I/We authorise any bank or other lending institution to obtain such references as deemed necessary for purposes of confirmation and credit assessment from my/our employer(s), banker(s), accountant(s), previous mortgage lender(s), landlord(s), credit reference agencies or such other parties as you may consider appropriate.

3.2. I/We accept that Eland Business Services Limited may, at anytime before any loan has offered to me/us is completed, withdraw revise or cancel with any lender without stating a reason. If this application is successful the provisions of this declaration will continue to apply after the completion of the transaction.

3.3. I/We have not arranged for any other loan in connection with the business without prior notification to Eland Business Services Limited, and obtaining the companies prior written consent.

3.4. I/We certify that the business accounts provided are accurate and our income is sufficient to meet the payments agreed with the lender thereof.

3.5. I/We waive the right to claim solicitor/client confidentiality or legal privilege in respect of all information relevant to the lenders decision to lend and generally in respect of the transaction if the loan is secured.

3.6. If you are a lessee, the undersigned, the terms of this contract oblige you to reimburse any actual expenses within ten days of the invoice (delete if not applicable).

3.7. Unless otherwise stated, by me/us, all existing loans and mortgages have been conducted in a satisfactory manner and are currently up to date.

3.8. Any misinterpretation or mis-statements in or omission from information given by me/us may result in the Lender demanding the immediate repayment of the loan enforcing its rights under the loan agreement.

3.9. No warranty, representation or assurance is given by Eland Business Services Limited or by the lender that the statements, comments or conclusions expressed or implied in any valuation report are accurate.

3.10. If a Lender declines my/our application, the Company may instruct another lender for consideration without prior notification.