New T&Cs

10.8 In the event that a Loan Contract relates to a Loan that is being made to a Borrower that is a sole trader, unincorporated body or partnership, by entering into such Loan Contract the Borrower makes the following declaration:

"I am entering this agreement wholly or predominantly for the purposes of a business carried on by me or intended to be carried on by me. I understand that I will not have the benefit of the protection and remedies that would be available to me under the Consumer Credit Act 1974 if this agreement were a regulated agreement under that Act. I understand that this declaration does not affect the 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 creditor and the debtor is unfair to the debtor. I am aware that, if I am in any doubt as to the consequences of the Agreement not being regulated by the Consumer Credit Act 1974 I should seek independent legal advice."

10.8 If the Borrower is a sole trader, unincorporated body or general partnership, by entering into this Loan Contract the Borrower makes the following declaration:

"Declaration for exemption relating to businesses (articles 60C and 60O of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)

I am entering this agreement wholly or predominantly for the purposes of a business carried on by me or intended to be carried on by me/us.

I understand that I will not have the benefit of the protection and remedies that would be available to me under the Financial Services and Markets Act 2000 or under the Consumer Credit Act 1974 if this agreement were a regulated agreement under those Acts.

I understand that this declaration does not affect the 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.

I am aware that, if I am in any doubts as to the consequences of the agreement not being regulated by the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974, then I should seek independent legal advice."