JustUs is an electronic system accessible from the website with the URL http://www. JustUs.co (“Website”) which system facilitates lending between lenders and borrowers (“Platform”). The Platform is owned and operated by eMoneyHub Limited. eMoneyHub Ltd is Authorised and regulated by The Financial Conduct Authority. eMoneyHub Limited is registered in England and Wales 28B London rd Alderley Edge Cheshire SK9 7DZ . Company Number 08158588.
eMoneyHub Ltd is registered with the Information Commissioner number Z3292835. The Platform has been created to allow persons who wish to lend to be matched with persons who wish to borrow. The platform determines the financial standing of the borrowers and provides a risk grade for each eligible borrower. We do not provide loans ourselves, but we do provide Borrowers and Lenders with a facility, through the Platform for the placing of loans with each other (“Services”).
In return for our Services, Borrowers pay a commission.
In these terms and conditions, as they may be amended from time to time (“Terms & Conditions”) references to “we”, “us”, “our” and any similar expression shall be a reference to eMoneyHub Limited and (to the extent required where these terms are incorporated by reference in any other agreement) any of our subsidiaries. Unless the context otherwise requires, words denoting the singular shall include the plural and vice versa, words denoting any gender shall include all genders and words denoting persons shall include bodies corporate and unincorporated, associations, partnerships and individuals.
By agreeing to these Terms agreement you will have a “Membership” with us and therefore become a “Member”.
These Terms & Conditions are entered into between us and you, either in your capacity as a Lender pursuant to condition 3 or a Borrower pursuant to condition 4 (“you”), but always as a Member.
By agreeing to these Terms & Conditions and/or by continued use of the Services, you agree to be bound by these Terms & Conditions in their entirety and any other document that is incorporated into them by reference into these Terms & Conditions. If there is any inconsistency between these Terms & Conditions and any document incorporated by reference, these Terms & Conditions will prevail. We may make changes to these Terms & Conditions from time to time and will take steps to bring any such changes to your attention, by placing a notice of the change on a prominent position on the Website.
You agree that it is your responsibility to check these Terms & Conditions from time to time to ensure that you agree with them, and your continued use of the Services after any change to these Terms & Conditions will be deemed to be your acceptance of the change. If we make a change to these Terms & Conditions between the time you make an offer to lend or borrow through the Platform and the time that offer is accepted, the offer and any loan made further to it will be subject to these Terms & Conditions as they were before we made that change.
You will need to register with us to create a User Account before you are able to borrow or lend any money. We will need your correct e-mail address, current home address, your full name (including middle names) and correct date of birth and you agree to notify us within 30 days of any change in such information. To open a User Account you will need to have a bank account with a UK clearing bank. You agree to provide us with the correct bank account number and sort code. This account will be used to pay money to, and receive money from us (your “Nominated Bank Account”).
When you register, you will need to choose a username and provide an email, mobile telephone number and address. You will also need to choose a password and provide answers to three security questions. These are necessary to access the restricted areas of the Website. It is your responsibility to keep this information confidential so that it can only be used by you. We accept no liability whatsoever for any activity on your account by anyone using your logon information. If you suspect that there has been unauthorised use of your account of any kind whatsoever, or your login information has become known to anyone else, you must notify us of this immediately following the notification procedure set out in these terms.
You agree that you will not in any way change or attempt to change or avoid the login procedure used on our Website. In our absolute discretion, and for your protection, we will have the right to refuse to act on your instructions where we suspect that access has or is being gained by persons unauthorised to do so, or we suspect other illegal or fraudulent activity.
Before you can become a Lender, you must have first have deposited monies into your Nominated Bank Account. These monies are held on trust, for you, in a Barclays Bank PLC “Protected Client Account”. The Protected Client Account is a segregated account and is currently held by Barclays Bank plc. The Protected Client Account has been established so that in the event that we cease to trade, your monies do not form part of our assets and so are protected.
To become a Lender you can deposit monies into your Nominated Bank Account via bank transfer or standing order. For any bank transfer you will need to provide your User Account number as the reference.
As a Lender, you can select via ” Auto Bid” the amount you wish to “Bid” and the “Risk Rating” that you wish to bid on. The maximum amount you are allowed to Bid in relation to any one “Loan Request” is £25,000. The minimum amount you are allowed to Bid in relation to any one Loan Request is £1 0.
Once a Borrower has received enough Bids to fulfil their Loan Request, the Lender(s) who together fulfil the Borrowers Lending Request shall be deemed to be a “Successful Bid”.
“ Auto Bid” allows you to automatically Bid funds up to the amount that you specify (your “ Bid Capital”) on all available Loan Requests that match your Risk Rating criteria, but subject to the total credit in your User Account less any fees that would be payable to us in respect of each Loan Request that you Bid for .
“Auto Bid” will automatically bid on Loan Requests and on “ Micro Loans” (which are already lent from an existing Lender) listed for sale on the Platform that match your Risk Rating criteria.
Any offer to lend that you make must refer to a “Market” available on the Platform and include the rate at which you are prepared to lend.
Before you become a Borrower, you must apply for a JustUs “Risk Grade”. We may also need to speak to a proposed “Personal Guarantor” as a requirement of the Risk Rating. You will be provided a Risk Grade as a result of your own personal credit rating and if applicable that of your nominated Personal Guarantor. Your “Risk Rating” will determine the amount you can borrow and over what term.
In granting your Risk Rating, we will use a credit scoring system and also take other factors into consideration such as income, time in job, profession, and mortgage balance and house value for both you and your Personal Guarantor.
Once you have been provided with your Risk Rating you can complete your registration to become a Borrower.
The rate at which you are prepared to borrow (the “Borrower Rate”) will be represented by the annual percentage rate (“APR”) as required by The Financial Conduct Authority from time to time.
Any offer to borrow that you make, must refer to a Market available on the Platform and include the rate at which you are prepared to borrow.
When a Loan Request is fully funded by Bids, the Platform shall facilitate the entry by the Borrower and each of the individual Lenders into multiple bi-lateral agreements (“ Micro Loans”) which combined form a “Peer to Peer Micro-Loan Agreement” for the full amount of the loan requested. The Peer to Peer Micro-Loan Agreement shall regulate that part of the loan which is being loaned by each Lender to the Borrower (each an “ Micro Loan”) ; and
The Platform shall generate a “Confirmation of Loan Acceptance”, which confirmation shall record amongst other things details of each overall Peer to Peer Micro-Loan Agreement, the Borrower, all of the Lenders (with reference to a unique membership number), the total amount being borrowed by the Borrower (being the amount of all of the Micro Loans aggregated together), and the amounts repayable by the Borrower.
Each Peer to Peer Micro-Loan Agreement is deemed to be a 36H Agreement as per The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013
If you purchase an Micro Loan from another Lender (‘the Transferee’), you will take an assignment of the Transferees rights and interest in the Micro Loan you have purchased.
In the various documents, the Lender’s address may be stated as “c/o JustUs” and our registered office address. Each of the Lender’s agree that any form of communication with it may be sent to JustUs’s postal address.
The Borrower and each of the Lenders will signify their acceptance and execution of each Micro Loan making up a Peer to Peer Micro-Loan Agreement (and its terms and conditions) by ticking an appropriately marked acceptance box within the Platform, when prompted to do so.
Upon each Peer to Peer Micro-Loan Agreement being executed, that part of the Loan which the Lender agreed to lend to the Borrower (“ Micro Loan”) will be debited from the Lenders User Account, which shall in turn be credited to the Borrower’s User Account. The day on which this takes place shall be “the Advance Date”.
In the event that a Borrower fails to make a payment when due or defaults in meeting any material obligations of each Peer to Peer Micro-Loan Agreement, we will ensure the payments are made up to date on behalf of the Lender. Where payments are not made up to date we will serve notices on behalf of the Lenders.
Where entry into a Peer to Peer Micro-Loan Agreement is stated to be conditional upon some form of security, including without limitation an all assets security agreement, assignment, legal charge, legal mortgage and/or a chattels mortgage, debenture, personal guarantee or such other form of security as the Lender may reasonably require (“Security”) the following provisions will apply to you in your capacity as a Lender.
In the event that a Borrower fails to make a payment when due or defaults in meeting any material obligations of each Peer to Peer Micro-Loan Agreement, you agree to instruct us (as security holder on your behalf as a Lender) to enforce any such Security.
You agree that we will act on your behalf as security trustee in respect of the any Borrower's liabilities to you under each Peer to Peer Micro-Loan Agreement. All communications to a Borrower in connection with any such Security will be made through us.
Where we have been provided with information by a relevant Borrower, we may provide to you as Lender certain information about the assets of that Borrower.
We will hold the assets charged under any security upon trust for ourselves and for all Lenders to that Borrower (including you). From time to time we may perform (before or after any enforcement under the terms of the Security) all obligations, rights and benefits given to us by any Security.
We shall have certain powers and discretions conferred upon trustees and may also rely on (i) any representation, notice or document believed by us to be genuine correct and appropriately authorised and (ii) any statement made by any director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify.
Where we are required to enforce any Security and any proceeds of recovery become available (after allowing for all of the costs of enforcement) it is possible that the available proceeds will not be sufficient to discharge all obligations owed by the Borrower at that time to Lenders on the Platform. If that is the case, then the Lenders shall only be entitled to recover their proportionate share of such recoveries. In addition, it is possible that there may be other creditors of the borrower that have claims that may be recovered in priority to us and the Platform Lenders, so the existence of such Security should not be considered to be a guarantee of certain repayment in the event of failure by the Borrower in meeting its payments.
You agree that we shall be entitled to be repaid and reimbursed out of the proceeds of any recovery under any Security and that you will pay all reasonable costs incurred by us in enforcing the Security or in complying with any instructions from you in connection with any Security. You will only be responsible for payment of such costs out of the proceeds of any recovery and to the extent that such costs cannot be recovered by us, from the relevant Borrower.
Where entry into a Peer to Peer Micro-Loan Agreement is stated to be conditional upon some form of security, including without limitation an all assets security agreement, assignment, legal charge, legal mortgage and/or a chattels mortgage, debenture, personal guarantee or such other form of security as the Lender may reasonably require (“Security”) the following provisions will apply to you in your capacity as a Borrower.
In the event that you fail to make a payment when due or defaults in meeting any material obligations of each Peer to Peer Micro-Loan Agreement, you agree we shall have the right to enforce any such Security on behalf of the Lenders.
Interest on the Loan will be deemed to accrue from the first business day following the Advance Date.
Each Peer to Peer Micro-Loan Agreement sets out the terms and regulates the payment of the Loan repayments.
Repayments of a loan and payment of interest shall be made from the Borrower’s Nominated Bank Account by standing order to the Protected Client Account. The Borrower shall therefore ensure that their Nominated Bank Account has sufficient funds to process the standing order each month. The standing order will be created by the Borrower on completion of the Loan.
If a Lender would like to sell an Micro Loan (known for the purpose of this clause as “ the Transferor”) they may do so to other Lenders.
On transfer of the Micro Loan, the accrued interest on the capital outstanding shall belong to and be paid to the buyer of the Micro Loan (known for the purpose of this clause as “the Transferee”).
A Transferor can set the amount that they want to raise in total from selling the selected Micro Loan. We will publish on the Platform a list of the Micro Loan’s with a total sale value to the amount the Transferor wishes to raise.
The Micro Loans that a Transferor wishes to sell can be selected on the “Dashboard” and they will then be listed for sale.
On the sale of any Micro Loans, the proceeds will be credited to the Transferor’s User Account and debited from the Transferee’s User Account.
Micro Loans for sale will be listed on the Platform for sale for an indefinite number of business days.
The capital and interest repayment is paid to the incumbent owner of the Micro Loan on the day the repayment is processed.
For providing you with a platform that enables you to lend or borrow money, we will be paid a commission to administer the loans and from time to time may levy other charges.
The commission payable to us by a Lender is 0% (nil) of what the Lender earns. The charges taken by us are taken before the interest is paid to the Lender.
The commission payable to us by the Borrower, will be clearly set out at the point that each Borrower makes their offer to borrow. The length of time a Loan is borrowed and the Risk Rating determines a variable commission payable. Commission is payable for the duration of the Loan and is calculated daily and deducted before interest is paid to the Lender.
There is an arrangement fee payable by the Borrower upon Unsecured and Guarantor Loan completions and added to the total charge for credit. The fee payable is determined by the Borrowers Risk Grade.
G1 = 3% of the Loan amount
A1, A2, A3 = 2.5% of the Loan amount
B1, B2, B3 = 3.25% of the Loan amount
C1, C2, C3 = 4% of the Loan amount
There is a Legal Fee payable by the Borrower upon Secured Loan completions and added to the total charge for credit. The fee payable is determined by the Borrowers Risk Grade.
S1 = £995, S2 = £795, S3 = £595
F1 = £995, F2 = £995, F3 = £995
All charges and fees due, will be paid to the relevant recipients from the Protected Client Call Account. If a Borrower does not make the contracted payments, then JustUs will not be paid a commission.
The “Rainy Day Pot ” monies are held for the additional protection of all Lenders of unsecured loans. The funds can be called upon in the event of non-payment of a Borrower. From each monthly payment received from all unsecured Risk Grade borrowers, a contribution to the Rainy Day Pot will be made from the interest payable. The contribution is determined by the borrowers Risk Grade and is a percentage of the Loan balance outstanding and calculated monthly.
A1 = 2.5% p.a.
A2 = 3% p.a.
A3 = 3.5% p.a.
B1 = 4.5% p.a.
B2 = 6% p.a.
B3 = 8% p.a.
C1 = 15% p.a.
C2 = 19% p.a.
C3 = 25% p.a.
In the event of a client not making a Loan repayment, we will put a claim in, on behalf of the Lenders, to make up that months monthly payment. The Rainy Day Pot is NOT an insurance policy and JustUs reserves the right to use discretion in its operation.
If you no longer want to be a Member you can let us know and we will end your membership as soon as any current Peer to Peer Micro-Loan Agreements are repaid and/or come to an end.
We shall in our absolute discretion end your membership. The reasons for doing that can include, but are not limited to the following:
Each Lender agrees that we ( JustUs) (including our officers, employees, agents or consultants) give no warranty or representation about the ability of any Borrower to re-pay any Loan made by you to them. Whilst we may provide some help in reaching a view about a Borrower’s credit worthiness, our charges and commissions in connection with each Loan are not in return for us sharing with you the risk of making a Loan which would be much higher if that was the case.
On that basis each Lender acknowledges that they are bidding and lending entirely at their own risk. If you are unsure about whether entering into a loan using the Website or Platform is suitable for you, you should contact an Independent Financial Adviser.
Any guidance that we make available on the Website or in any other marketing materials, detailing the possible rate of return on a Loan, are for guidance purposes only and are not guaranteed. The particular rate of return on any Loan will be set out in each Peer to Peer Micro-Loan Agreement.
The information we make available on the Website does NOT constitute advice, recommendation or an endorsement of any Loan Requests, of Micro Loans or of the Borrower.
The information we make available on the Website is not intended to be relied upon as a sole basis for deciding whether or not to lend to a particular Risk Graded borrower.
We make no representation, warranty nor give any guarantee;
That a eMicroLoan which is put up for sale will be purchased.
This Website is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to applicable law or regulation.
You are permitted to download and print the content on the Website for your personal use or in the course of your business, but only to the extent required to use the services provided on the Website. You must not use the content of the Website for any other purpose without our express written consent.
We will endeavour to facilitate uninterrupted access to the Website. Access to the Website may be suspended, restricted or terminated at any time.
You agree to use the Website only for lawful purposes and in a way which does not infringe the rights of anyone else or restrict or inhibit anyone else’s use and enjoyment of the Website.
You warrant and represent that you have taken all reasonable precautions to ensure that any data you upload to the Website is not infected with any virus or anything else which may have a destructive effect on any part of the Website. We use secure socket layer (SSL) encryption to encrypt information communicated between a User’s browser and the Website. We take reasonable precautions to prevent the existence of computer viruses or other malicious programs on the Website, but we accept no liability for them if they do exist. It is your responsibility to use, update and maintain appropriate antivirus software on your computer.
Information transmitted via the Website will be via public telecommunications networks. We accept no liability if communications sent via the Website are intercepted by third parties or incorrectly delivered or not delivered.
The Website may contain links to other Websites. We accept no responsibility or liability for any material supplied by or contained on any third party Website which is linked from or to the Website, or any use of personal data by such third party.
We shall not be liable to you for any loss or damage which you may suffer as a result of being a Member or using the services provided via the Website, except where such loss or damage arises from our breach of these terms and conditions or was caused by negligence, wilful default or fraud by us or our employees.
Our total liability to each Lender in connection with these terms and conditions, your Membership and your use of the services provided via the Website shall not exceed the balance of the Loan pursuant to which the liability arises.
Our total liability to the Borrower in connection with these terms and conditions, your Membership and your use of the services provided via the Website shall not exceed the greater of the aggregate of the fees paid by the Borrower to us in connection with the Loan pursuant to which the liability arises.
Nothing in these terms and conditions shall limit our liability for personal injury or death, fraud, nor for any other liability is the exclusion or limitation of which not permitted by applicable law or regulation.
For Borrowers, we will obtain information about you from credit reference and fraud prevention agencies to help make decisions about you and we will record information about you with them. We may search your record at one or more credit reference agencies who will keep a record of the search. These details will be seen by other organisations that make searches. Information held about you by credit reference agencies may be linked to records relating to one or more of your partners, which is known as “association”. If you give us false or inaccurate information and we identify fraud, we will record this with fraud prevention agencies. Law enforcement agencies may access and use this information. We may use a scoring or other automated decision making system to assess your application and to verify your identity. We will also record with credit reference agencies any default or failure on your part to keep to the terms and conditions of this agreement and any change of name or address. Account information given to credit reference agencies remains on file for 6 years after your account is closed, whether settled by you or upon default.
Whether or not a Loan Request proceeds, the credit reference agency will place a record of our search on your file. This record (but not our name) will be seen by other organisations when you apply for credit in the future. Large number of applications within a short period of time could affect your ability to obtain credit. Whether or not this application proceeds, the agencies will link your records and those of your financial associates, including any previous and subsequent names. The agencies may supply us with credit information, such as previous applications, the conduct of accounts in your and your financial associate’s name, any business accounts you have, fraud prevention information and public information such as County Court Judgments, bankruptcies and the electoral register.
Some information held by the credit reference and fraud prevention agencies will be disclosed to us and other organisations to prevent fraud and money laundering, to recover debts that you owe and trace your whereabouts, to manage credit accounts and other facilities, to verify your identity, make decisions on credit and to carry out statistical analysis to help with decisions about credit and account management.
We may transfer your personal data to third parties acting on our behalf for administrative purposes and whomever we instruct to enforce any terms of this agreement. We may also disclose your details and/or transfer your personal data to third parties to whom we propose to assign our rights under this agreement. We may also disclose your personal data to any party who may acquire any interest or right of any kind pursuant to this agreement whether through an assignment or otherwise.
You have the right to request a copy of the information that we hold about you if you apply to us in writing. A reasonable fee will be payable to cover our costs. Any such requests must be made to us in writing at the following address: 28B London Alderley Edge Cheshire SK9 7DZ
Communications and notices to be given under these Terms & Conditions (other than those exchanges of information occurring in the normal operation of the site) should be sent to us via email to firstname.lastname@example.org
These Terms and Conditions are subject to English law and the exclusive jurisdiction of the English Courts.