These declarations apply to everyone named in the loan application or on the loan account, jointly and severally, whether as applicant or as guarantor.
In these declarations you are making a number of statements of truth and are accepting that you understand that we will be applying for certain information from other people in order to assess and process your application.
It is important that you read these declarations carefully, and ensure that you understand them, before submitting your application and signing it.
You make the following declarations to us:
1. The information given by you to us is true, accurate, complete and up-to-date. You confirm and acknowledge that our decision to lend is based on this information, even where we have undertaken our own due diligence.
2. You confirm that if your application has been completed on your behalf, for example, by your broker or intermediary, you have reviewed and verified the information before signing this declaration and the information is true, accurate, complete and up-to-date.
3. If we suspect fraud or that any information you have given us is false, inaccurate or misleading, you acknowledge that we may withdraw or vary our offer to lend, demand repayment or make reasonable changes to the terms of your loan.
4. You also acknowledge that it is a criminal offence to knowingly or recklessly provide false, inaccurate or misleading information when applying for a loan and that if you do provide any such information you may be reported to the relevant authorises and face criminal and/or civil proceedings.
5. You agree to let us know if any of your circumstances change at any time, including after completion of your loan.
6. You understand that if your circumstances change or if the nature of the transaction changes, we may at any time before any loan to you is completed, withdraw, revise or cancel our offer to lend.
7. You confirm that the proposed loan is intended wholly or predominantly for business purposes.
8. You further confirm that neither you nor any “Connected Person” within the meaning of Section 252 of the Companies Act 2006 or section 96(B)(2) and schedule 11B of the Financial Services and Markets Act 2000, are currently residing, will be residing, or are permitted to reside in the property to be used as security for the loan at any time, now or in the future. (“Connected Person” includes anyone who is a spouse, parent, brother, sister, child, grandparent or grandchild, or any other person whose relationship with you has the characteristics of the relationship of husband and wife).
9. You acknowledge that KSEYE Group Ltd and its group companies are not authorised or regulated by the Financial Conduct Authority or the Consumer Credit Act 1974 (as amended from time to time) and that, in this regard, the proposed loan is an unregulated loan.
10. You authorise us to write to your existing lender to confirm the amount required to pay off your existing loan. You agree to pay any charges made by your existing lender for this (where appropriate).
11. You authorise us to write to other third parties to verify the information provided in, or in support of, your loan application. For example, we may write to other lenders that have provided you with loans secured against other properties that you have an interest in, but which are not the subject of your loan application with us.
12. You authorise your solicitor to disclose to us any information relevant to our decision to grant you the loan and you agree to waive your claim to legal privilege over this information.
13. You authorise us to send a copy of our approval in principle to your broker/intermediary if you have one, and to provide your broker/intermediary with any further information regarding your loan and loan application that they may require, including after completion of the loan.
14. You authorise us to disclose details of arrears which might arise in documents we need to send to Court. You also authorise us to enter details of any property of yours that we may repossess on the possessions register which is maintained by credit reference agencies.
15. You confirm that we may use and process the personal information that you provide to us in line with our prevailing Privacy Notice and in accordance with the Data Protection Act 2018 (as amended from time to time).
16. You confirm that you have read our Privacy Notice, a copy of which is available online at www.kseye.co.uk/privacypolicy/, and that you understand the rights that you have in relation to your personal information.
17. You agree that credit searches will be made against you and that we will also share information about you with credit reference agencies, including but not limited to payment history, settled accounts, arrears and defaults. Please refer to the Credit Reference Agency Information Notice below for further information.
18. You agree that separate identity checks will also be carried out against you. These may leave a search footprint on your credit file that may be seen by other lenders.
19. You understand that we may decline your application if it does not meet our lending criteria.
20. You agree that by taking up all or part of any loan offered to you, you accept all the conditions set out in the approval in principle. You agree that if you receive more than one approval in principle, the version showing the latest date will be that which applies, unless otherwise agreed with us.
21. You confirm that you are able to meet all of your current financial commitments as well as the financial commitments of the loan that has been applied for, including any interest and other payments associated with it.
22. You confirm that no party to this application has ever been refused credit, been bankrupt, or failed to keep up regular mortgage or rental payments. (If this declaration cannot be made, full details must be given).
23. You agree that before signing this application you have read our Tariff of Fees, a copy of which is available online at www.kseye.co.uk/tariff-of-fees/, and you understand that these can be changed by us.
24. You agree that if a loan has been applied for and/or made in joint names, we shall be entitled to accept the signature, instruction or authority of either of you, unless you advise us otherwise.
In order to process your application, we will perform credit and identity checks on you with one or more credit reference agencies (“CRAs”). We may also make periodic searches at CRAs to manage your account with us.
To do this, we will supply your personal information to CRAs and they will give us information about you. This will include information from your credit application and about your financial situation and financial history. CRAs will supply to us both public (including the electoral register) and shared credit, financial situation and financial history information and fraud prevention information.
We will use this information to:
- Assess your creditworthiness and whether you can afford to take the product;
- Verify the accuracy of the data you have provided to us;
- Prevent criminal activity, fraud and money laundering;
- Manage your account(s);
- Trace and recover debts; and
- Ensure any offers provided to you are appropriate to your circumstances.
We will continue to exchange information about you with CRAs while you have a relationship with us. We will also inform the CRAs about your settled accounts. If you borrow and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs.
When CRAs receive a search from us they will place a search footprint on your credit file that may be seen by other lenders.
If you are making a joint application, or tell us that you have a financial associate, we will link your records together, so you should make sure you discuss this with them, and share with them this information, before lodging the application. CRAs will also link your records together and these links will remain on your and their files until such time as you or your associate successfully files for a disassociation with the CRAs to break that link.
The identities of the CRAs, their role also as fraud prevention agencies, the data they hold, the ways in which they use and share personal information, data retention periods and your data protection rights with the CRAs are explained in more detail at www.experian.co.uk/crain CRAIN is also accessible from each of the three CRAs.
If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and fraud prevention agencies, and your data protection rights, can be found at www.cifas.org.uk/fpn