Terms & Conditions
1. INFORMATION ABOUT US
The Site is operated by ST Loan Services Ltd, a company registered in England & Wales with company number 12050100) with the registered address 34 New House, 67-68 Hatton Garden, London EC1N 8JY – (“Saxon Trust”/”we”/”us”/”our”). Saxon Trust is a trading name and registered trademark of the Saxon Trust group of companies. Reference to Saxon Trust may relate to ST Loan Services Ltd where it relates to specific investment activity or may relate to another member of the Saxon Trust group. Further details are available on request and if you require confirmation you should ask before transacting.
The Site provides you with information on investments, which, should you decide to do so, you may invest in on the terms shown on the Site (an “Investment”). We do not and are not providing any advice on the quality or viability of any Investment and we do not provide general or specific investment advice. Any decision to invest in an Investment advertised on the Site is solely your own and you must only do so after conducting sufficient due diligence and seeking your own independent advice. Please remember, property prices and investments in general can go down as well as up and any estimated, targeted or other specified yields or returns are purely indicative based on our estimations of the market and expected returns. Unless otherwise specified, any yields or returns are not guaranteed by us and are subject to the performance of the property market.
The Site also provides details of loan products offered by Saxon Trust and its funding partners. These loan products are described and offered as an advertisement only and do not form part of any contract to transact. The loan terms displayed are subject to change and availability without notice and the final terms of any loan offered will be provided to you in writing as part of the offer letter.
2. ACCESSING OUR SITE
Access to the Site is permitted by us on a temporary basis and we reserve the right to withdraw or vary the Site without notice. We will not be liable for any loss, damage, costs, expenses or any other thing whatsoever (including special damages and consequential loss) (together “Damages”) if the Site is unavailable at any time or for any period.
We reserve the right to restrict your access to the Site from time to time for any reason.
You are responsible for the security of your login details and you must ensure that any persons who accesses the Site through your login or internal connection are aware of the Terms and agree to be bound by them. We shall not be liable for any Damages caused by unauthorised access to the Site using your login save in the case of our own gross negligence.
3. OVERSEAS USERS
The Site is only intended for use by people resident in the United Kingdom and, subject to clause 3.2 below, any investors from other jurisdiction warrant that they agree with the terms of this clause.
The Site is not to be accessed from the United States of America and may not be used by any resident of the United States of America or any country outside of the United Kingdom. No offer made on the Site is intended or authorised to be made inside or to any resident of the United States of America or any other country.
Should an overseas user be authorised to use the Site, it is the responsibility of the overseas user to meet any taxes, charges, banking fees, currency exchange fees, forex rate charges or any other costs in making a subscription through the Site and we reserve the right to refuse to issue any investment to an overseas user until the full subscription price, including any sum required to cover such additional third party fees, is received in the Client Account.
4. USER REGISTRATION
By using and/or registering with the Site, you confirm and warrant to us that:
You fully understand accept and agree to be bound by the Terms and our privacy statement which can be found on the Site and have fully read and understood our risk warning which can be found on the Site;
You are eighteen years of age or older;
You are legally capable of entering into binding contracts in your own capacity and no other authorisation or permission is required to enable you to do so; and
You are resident in the United Kingdom and are accessing the site from the United Kingdom.
You are not a resident of the United States of America.
You agree that you shall comply with such identification and other anti-money laundering requirements that we may from time to time require. In particular, we may require identification of investors and information about the sources of funds being provided by the investor in investments Saxon Trust considers in its sole discretion to be substantial.
You may only invest in an investment in your own name and shall ensure that all orders for shares made through the Site are made exclusively on your own behalf.
5. HIGH NET WORTH INDIVIDUALS AND SOPHISTICATED INVESTORS
Our site is only available to investors who join as a High Net Worth Individual and/or Sophisticated Investor and by doing so you are confirming to us and warranting that you meet the requirements set out at Schedule 5 Part I and/or Part II of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and that you have printed, signed and retained a copy of that certificate for your records. A copy of any certificate completed electronically on the Site is available on request.
6. SITE CONTENTS
Any information, commentary, figures, percentages, indications, estimations or any other material contained on the Site are not intended to be financial advice to you and you are solely responsible for seeking your own independent financial advice and satisfying yourself with your own due diligence before investing through the Site.
7. CLIENT CATEGORISATION
All investors will be classified as retail clients unless they expressly request to be treated as elective professional clients and can meet the relevant requirements of the FCA COBS sourcebook. As such all investors have the benefit of the usual complaints procedures afforded to clients of authorised firms. investors may refer any complaint to the Financial Ombudsman Service. However, investors may not make a claim to the Financial Services Compensation Scheme in the event that the company or an investment vehicle fails.
You acknowledge that Saxon Trust will not supply any additional confirmations of any orders, and or resulting transactions, and that the investment confirmation email shall be sufficient and adequate reporting of the service of arranging the reception and transmission of orders and the arranging of resulting transactions, provided by Saxon Trust in accordance with the FCA Handbook, Conduct of Business Rules, Rule 16.1.1, and hereby consents to the same.
Only those potential investors who are High Net Worth Individuals or Sophisticated investors are permitted to receive the financial promotions relating to, and invest in, the investments shown on the Site. If you do not fall within one of these categories you will not be permitted to invest via the Site.
8. INVESTMENT RISK
Investing in loans carries certain risks and it is your responsibility to satisfy yourself that this risk is acceptable to you. Saxon Trust and the Site offers no guarantees or assurances as to the performance of any investment offered on the Site and your capital and interest is at risk if you invest.
9. OUR CHARGES
We do not generally charge investors a fee for investing through the Site. However, ISA Transfers are subject to a £25 charge made by Reyker Securities plc on any transfer in of existing ISA funds. For transfers of £10,000 and over, Saxon Trust will pay this fee on the investor’s behalf.
If we are required to seek additional information to comply with our legal obligations (including anti-money laundering and fraud checks) and this information is not provided within 30 days of request, we reserve the right to charge £100 per month (plus any VAT payable) as an administration fee until such information is provided and the checks can be completed to our reasonable satisfaction.
Should additional work be required of Saxon Trust in the administration or dealing of any account that goes beyond the usual account activities and operations, it may be necessary to charge an hourly rate of £125 per hour (plus any VAT charged). Such charges shall be notified to the investor before being charged. Examples of when this may apply would be if an account is subject to legal proceedings and requires Saxon Trust to work with the Court to deal with the investments.
10. CLIENT MONEY
We accept payment by debit cards in British pounds sterling. Any bank charges or other charges raised by third parties or our own bank in respect of bank transfers shall be paid for by the investor.
Any investment funds transferred by debit card in respect of an Investment will be held in a segregated client account held with Mango Pay (www.mangopay.com) and transferred to Reyker Securities plc to be held in a pooled client account on behalf of the investor (the "Client Account").
Upon an investment completing, any funds held in the Client Account in respect of the investment made will be transferred to an account on behalf of the issuer of that investment.
You acknowledge that no interest will be paid on any sums in the Client Account. To avoid banking charges being passed on to the Investment, Saxon Trust may from time to time receive interest payments in respect of the Client Account and you agree and undertake that Saxon Trust shall be under no obligation to pass on such interest payments to you.
All payments made to you from time to time will be made to your Saxon Trust account and such sums shall be held in the Client Account on your behalf until you either (i) re-invest the monies, or (ii) request that such monies be withdrawn and paid to you via electronic bank transfer. Such payment to you may incur additional fees for services that are non-standard.
You acknowledge that:
our affiliates, and/or the proprietors, officers or employees of Saxon Trust and/or such affiliates may consider expressing an interest or subscribing for an Investment. If you become aware of this, you agree not to rely upon the same in making a decision whether to invest in an Investment, and you confirm that any decision to invest in an Investment is not based upon any representation, information, action, omission or otherwise of Saxon Trust, its subsidiaries or affiliates or the proprietors or employees of Saxon Trust, its subsidiaries or its affiliates.
our affiliates, and/or the proprietors, officers or employees of Saxon Trust may seek to list or sell a property or shares in an Investment on the platform for such price as they may set. Such Investments will be subject to the same rigorous due diligence as any other Investment, the results of which will be provided to you within a listing in the usual way.
Members are encouraged to ensure that arrangements are put in place for their next of kin to be informed of their order and the Saxon Trust process, and that instructions are provided to enable the member’s order to be withdrawn before it is converted to a irrevocable order on the occurrence of the member’s death, insolvency or incapacity. Saxon Trust accepts no responsibility or liability for orders not being withdrawn before being converted to a firm order through the failure of the member to put in place such an arrangement, or the failure of the next of kin to communicate a withdrawal.
Members, or in accordance with clause 11.2, their next of kin, are entitled to withdraw their order at any time prior to it becoming a firm order upon the expiry of the 5 working day confirmation email.
12. INVESTMENT STRUCTURE
When investing with Saxon Trust, you receive an interest in the Investment via the issue of shares, debentures and/or loans (which shall include bonds). These investments are held by the Reyker Securities plc (or a nominated member of its group) on your behalf and on trust for you as your nominee (the “Nominee”). Reyker Securities plc are authorised and regulated by the Financial Conduct Authority (FRN: 115308).
By investing with Saxon Trust, you authorise and agree that the Nominee shall hold the shares, debentures and/or loans (which shall include bonds) on your behalf. The Nominee shall be entitled to rely on your instructions at any time and act accordingly and you agree to indemnify the Nominee and ST Loan Services Ltd against any claims, losses, expenses, costs, actions or any other things incurred or caused by the Nominee acting on your instructions. Nothing in this clause shall limit the Nominee’s liability to you for fraud or its own gross negligence. By investing you are confirming you have read and agree to be bound by the Nominee’s terms and conditions which can be found at www.reyker.com/termsandconditions
13. REGULATION AND LIABILITY
You, as a member of Saxon Trust, acknowledge and accept that you must make your own assessment of the viability, accuracy and prospects of the Investments and any relevant investment propositions and should consult your professional advisers should you require any assistance in making such an assessment or should the investor require any services whatsoever in connection with Saxon Trust. In particular, the attention of the investors is drawn to the disclaimer, risk warning and regulatory notice.
You acknowledge that Saxon Trust does not provide any financial advice or personal recommendations in relation to investments.
In accordance with the 2013 Consumer Contracts Regulations, you are entitled to a 14 working day cancellation period following the provision of services by Saxon Trust in accordance with these Terms. Cancellation of this agreement within the period allowed must be effected in writing and served on us at our registered address. Such period shall begin at the point of making an investment being the point at which payment is made via the Site in relation to an investment advertised on the Site.
You are responsible for any taxation payable in respect of any payments you receive from us or the Site and you indemnify us against any taxes, charges or claims made against us in respect of the non-payment of your individual tax and other social security liabilities.
16. OUR LIABILITY
The material displayed on the Site is provided without any guarantees, conditions or warranties as to its accuracy. To the extent permitted by law, we, other members of our group of companies and third parties connected to us hereby expressly exclude:
All conditions, warranties and other terms that might otherwise be implied by statute, common law or the law of equity;
Any liability for any direct, indirect or consequential loss or damage incurred by any user in connection with our site or in connection with the use, inability to use, or results or the use of this Site, any websites linked to it and any materials posted on it, including, without limitation any liability for:
Loss of income or revenue;
Loss of business;
Loss of profits or contracts;
Loss of anticipated savings;
Loss of any other opportunity;
Loss of data;
Loss of goodwill;
Wasted management or office time; and
For any other loss or damage of any kind, however arising and whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable.
Any limitations contained in this clause 16 do not limit our liability for death or personal injury arising from our negligence, nor our liability for fraud or fraudulent misrepresentation, nor any other liability which cannot be excluded or limited under applicable English law.
Where the Site links to other sites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them.
You acknowledge and agree that:
We are making no warranty or representation as to the ability of the Investment to pay and its credit risk and we are not underwriting any debt or credit risk of the Investment and will not be liable in any way;
You are investing entirely at your own risk and by investing confirm you have sought independent advice and conducted your own due diligence;
You agree to keep confidential and not to use, disclose or communicate any and all content of the Site (except in the course of obtaining professional advice in respect of the same or with our written consent or as required by law). This restriction will continue to apply after any termination of membership;
Calculations or financial indications provided on the site are for guidance purposes only and are not guaranteed;
The information on the Site does not constitute advice, recommendation or an endorsement of investment requests or investment vehicles. The information is not intended to be relied upon as a sole basis for deciding whether or not to invest in an Investment;
We make no representation or warranty as to the accuracy of any data displayed on an investment page, nor whether it is up to date or error free; and
We do not guarantee that there will be sufficient bids to fully fund an investment in an Investment or that there will be sufficient investments for you to invest in.
18. INTELLECTUAL PROPERTY RIGHTS
We are, and you acknowledge and agree that we are, the owner or licensee of all intellectual property rights in the Site, and the material published on it (including the Saxon Trust logo and branding). These rights are protected by copyright laws and treaties around the work and all such rights are reserved.
You are not authorised to copy or download any extracts from the Site unless expressly authorised by us to do so.
No warranty is given by us that the contents of the Site do not infringe the rights of any third party.
19. VIRUSES, HACKING AND OTHER OFFENCES
You must not misuse the Site by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful (together “Viruses”). 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 the Site. You must not attack this Site via a denial-of-service attack.
By breaching this provision, you may 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 rights to use the Site will cease immediately.
We will not be liable for any loss or damage caused by a denial-of-service attack or Viruses that may infect your computer equipment, computer programs, data or other proprietary material due to your use of the Site or to your downloading of any material posted on it, or on any website linked to it.
20. INFORMATION ABOUT YOU AND YOUR VISITS TO OUR SITE
You agree and confirm to us that you accept and authorise us to serve any written communication on you electronically using the email address associated with your membership of the Site. You agree to this electronic means of communication in respect of the Site and any Investment you have invested in and you acknowledge that all contracts, notices, information, documents and other communications in relation to your Investment that we provide to you electronically comply with any legal requirement that such communications be in writing. This condition does not affect your statutory rights.
In addition, you agree and confirm that we may contact you by telephone or other means (including SMS) to inform you about your investments and changes to the service. You have the right to opt out of any or all of these communications at any time by contacting us in writing at email@example.com.
All notices served on us must be in writing and served on us at our address registered with Companies House from time to time. We do not accept any notice electronically or by fax.
Notices will be deemed to be received:
Four clear business days after posting by recorded, special or registered post by Royal Mail;
When received by a statutory director of Saxon Trust if posted by any other means.
No failure or delay by a party to exercise any right or remedy provided under this agreement or by law shall constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that or any other right or remedy.
24. NO PARTNERSHIP OR AGENCY
Nothing in this agreement is intended to, or shall be deemed to, establish any partnership or joint venture between any of the parties, constitute any party the agent of another party, nor authorise any party to make or enter into any commitments for or on behalf of any other party.
25. ASSIGNMENT AND VARIATION
Your membership in Saxon Trust is non-transferable, and the provisions of this agreement shall not be assigned, transferred, mortgaged, charged or otherwise encumbered without the written consent of Saxon Trust.
If any of these terms and conditions or any provisions of any other document featured on the Site are determined by any competent authority to be invalid, unlawful or unenforceable to any extent, such term, condition or provision will to that extent be severed from the remaining terms, conditions and provisions which will continue to be valid to the fullest extent permitted by law.
27. ENTIRE AGREEMENT
These terms and conditions constitute the whole agreement between us and supersede all previous discussions, correspondence, negotiations, previous arrangement, understanding or agreement between us relating to the subject matter of any contract.
We each acknowledge that neither of us relies on, or will have any remedies in respect of, any representation or warranty (whether made innocently or negligently) that is not set out in these terms and conditions or the documents referred to in them.
Each of us agrees that our only liability in respect of any representations and warranties that are set out in this agreement (whether made innocently or negligently) will be for breach of contract.
Nothing in this clause limits or excludes any liability for fraud.
28. OUR RIGHT TO VARY THESE TERMS AND CONDITIONS
We have the right to revise and amend these terms and conditions from time to time.
You will be subject to the policies and terms and conditions in force at the time that you apply to become a member, unless any change to those policies or these terms and conditions is required to be made by law or governmental authority (in which case it will apply to orders previously placed by you), or if we notify you of the change to those policies or these terms and conditions before we send you the membership acceptance (in which case we have the right to assume that you have accepted the change to the terms and conditions, unless you notify us to the contrary within seven working days of receipt by you of the services we provide or services provided by members of our group).
28. LAW AND JURISDICTION
This agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales.
The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this agreement or its subject matter or formation (including non-contractual disputes or claims).