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PropertyInvestment.co.uk - "General Terms and Conditions"

This document sets out the terms and conditions upon which PropertyInvestment.co.uk ("the Company") provides an interactive business and information service.

 

Terms & Conditions of Sale

Trading with Propertyinvestment.co.uk Limited is subject to these Terms and Conditions. References to "we", "us" and "our" are references to Propertyinvestment.co.uk Limited. The terms "you", "your" and "investor" refer to any individual, company or business (whether registered with us as an investor or not) to whom we provide our Services by any means including, but not limited to, email, telephone, face-to-face contact, postal correspondence or via our web site www.propertyinvestment.co.uk or any other propertyinvestment.co.uk sub domain or related web site operated by the group of Propertyinvestment.co.uk companies.

These Terms and Conditions (the "Terms") govern the relationship between us and you and shall prevail and have priority regardless of the existence of any printed or other conditions even if such conditions purport to take precedence. Please read these terms carefully. Your attention is in particular drawn to the clause on Liability below.

We provide advice and a sourcing service for property and property related goods and services in the UK and abroad referred to hereon as the "Service" or "Services". 

 

Your Registration With Us

The details that you provide at registration are important and must be complete and correct. You must immediately inform us of any changes to your information by sending an email to info@propertyinvestment.co.uk or telephoning us on 0845 505 1514. If you do not keep us informed of any changes, we will be unable to keep you fully informed on current and future development information. 

 

Information Provided by Us

We provide details about investment opportunities, in the form of, but not limited to market research, statistics, forecasts, reports, herein referred to as "Information". We provide Information obtained from a number of third party sources including developers, valuers, estate agents and letting agents. Whilst we endeavour to provide accurate, up-to-date and complete Information we make no warranties or representations as to the accuracy, reliability or completeness or otherwise of the Information and assume no responsibility or liability for any omissions or errors contained in the Information. 

 

Your Participation in Investment Opportunities

We will offer you opportunities for investment, by using email, our web sites, post, telephone, or other appropriate means. We will endeavour to provide you with opportunities of a sound and reliable nature. We will speculate on the level of investment required, and the potential returns. This is based on our research and analysis, which may include the advice and guidance of qualified third parties (such as a RICS registered surveyors, accountants or solicitors). Due to the speculative nature of such opportunities the information we provide should be considered our 'opinion'.

Investors are advised to carry out their own analysis and judgment of the investment being offered and to independently verify the Information and our speculative analysis through your own research. You are advised to carry out an independent legal and financial assessment of any opportunity offered to you, before making any commitment to participate. Please remember that the price and value of any investment and income can go down as well as up. If you make an investment you may get back less than the amount you originally invested. If you are in doubt about any investment decision you should seek the advice of a suitably qualified person.

Mortgage products referred to in the web site can be withdrawn by the lender for those products, or have rates or other terms changed, without notice and any reference to any products in any of our marketing collateral, whether printed, by email or verbal does not imply they are certain to be available in the future. Mortgages referred to may also have certain applicant restrictions and are for indicative purposes only although reasonable endeavours have been used to ensure that they are available at the time of publication and are applicable to a significant number of investors. Propertyinvestment.co.uk Limited is not a mortgage broker and any reference to mortgage products, terms and rates are for example purposes only and may not be construed as an offer or a fundamental component of the investment opportunity that we are offering. Please seek financial advice from a mortgage broker who can confirm the current availability of mortgage products and their terms. Any indication of a cash investment required for a property is purely an example and could vary significantly per investor or over time.

Valuation information provided by us from sources like Land Registry, Rightmove and other property price and rental data sources are provided 'as is' and for information purposes only. RICS valuations carried out by us or on our behalf or via third parties are provided to you for information purposes and valuation opinions can vary between valuers and between dates.

We cannot take responsibility for a valuer changing their opinion over time or a different valuer providing a different opinion. 

 

‘In The Know’ Membership

The ‘In The Know’ Membership fee is annual and currently £150 + VAT. Propertyinvestment.co.uk Limited may change the Membership fee at any time, but changes will apply only to new and renewal Memberships.  The ‘In The Know’ membership fee is non-refundable irrespective of whether or not a member qualifies or receives funding under the Scheme or changes are made to any associated ‘In The Know’ membership benefits.  

To qualify and participate for the ‘In The Know’ funding Scheme, members will be subject to the use of a nominated Lawyer and Mortgage Broker chosen by Propertyinvestment.co.uk Limited from their list of panel Lawyers and Mortgage Advisors. Using nominated Lawyers and Mortgage Brokers help ensure that associated documentation is carried out in an efficient manner. 

 

Term: ‘In The Know’ Membership; Billing

The initial term of an ‘In The Know’ Membership shall commence on the date it is purchased and continue until one year from the last day of the calendar month in which the Membership was purchased. 

 

Termination of ‘In The Know’ Membership

(a)   Under the Consumer Protection (Distance Selling) Regulations 2000, the service will not commence until the end of the cooling off period of seven days, during which time the consumer may cancel their subscription by informing us by sending an email to info@propertyinvestment.co.uk, in which case a full refund will be made. Please note if the consumer immediately activates the service by logging onto the website the Consumer Protection (Distance Selling Regulations) does not apply and the cooling off period will be waived.

(b)  Subscription costs may be changed by Propertyinvestment.co.uk Limited at any time. Prior to any changes in fees, all information will be published on the Propertyinvestment.co.uk website.

(c)   We may terminate your Membership, including any associated accounts, without notice, for any reason in our sole discretion, including without limitation our belief that continued use of such Membership would violate any provisions of this Agreement, applicable law, or otherwise be harmful to our interests. In the event of any such termination, you will be entitled to a pro rata refund of your Membership fee.

(d)  We may terminate any or all of the benefits available under the ‘In The Know Membership’ Scheme at any time without notice. 

 

Use of Our Services, Agents and Suppliers

"An opportunity or supplier introduced by us" means any investment opportunity which may include, but is not limited to land, property, apartments, homes, entire developments, whether constructed or not at the time of introduction, both in the UK and abroad, or supplier of the same, including but not limited to developers, estate agents, or other intermediary agents, that have been researched, negotiated or procured by us, or in the case of suppliers are persons or companies with whom we have an established relationship (contractual or otherwise), and would not otherwise have been known to you. 

 

Advisory Fees for Property

Fees for participation in investment opportunities introduced to you by us, may vary per opportunity, but will always be disclosed to you before you commit to participate in any such opportunity by way of a reservation.  All investment opportunities are available on a strictly ‘first come, first served’ basis. To reserve a property, our advisory fee, which is quoted exclusive of VAT, is payable immediately upon the day of reservation. Upon reservation the investment opportunity will be taken off the market.

Where applicable, you may be additionally required to pay a reservation fee (typically £1,000) which is passed to the vendor.  This will form part of the final contract purchase price and as such will be deducted from the deposit required at completion. If you withdrawal from a purchase after reservation for any reason other than the failure to qualify for a minimum mortgage of a 65% loan-to-value of the agreed purchase price, all fees paid will be non-refundable.

The deposit to exchange is payable to a solicitor who will hold the monies until such time as legal ownership of the property is transferred to you (usually on exchange of contracts). This system aims to protect both you, and us. We reserve the right to withdraw the opportunity to purchase a property procured by us, if you fail to pay our fees in full and at the appropriate time. 

 

Restrictions

If you, without notifying us, and within one year of the date an opportunity was originally introduced to you by us

  • engage in any capacity directly with a supplier or developer originally introduced to you by us,
  • or engage with the supplier or developer over new opportunities,
  • or if you or a member of your family or someone else known to you refers an opportunity introduced to you by us to another person, or body and that person or body engages in any capacity directly with the supplier or developer of the opportunity,

then you will be liable to pay our fee at the prevailing rate. 

 

Third Parties Recommended to You by Us

We will endeavour to recommend solicitors, mortgage brokers, furniture suppliers, and estate agents or other third parties ("Third Party" or "Third Parties") of good calibre, who offer a service or product deemed to be of good quality and reasonable cost. However, we make no warranties or representations as to the reliability of the services provided by Third Parties and assume no responsibility or liability for their actions, omissions or errors. If you make any arrangements with a Third Party found on or via our web site or recommended to you by us, it is at your sole risk and responsibility. 

 

Descriptions of Property, Homes, Buildings, Locations or Developments

Particulars, specifications, pictures and artists impressions of any property, home, building, location or development are given in good faith and believed to be correct, but they do not form part of any offer or solicitation and are intended only as a general guide. We will make reasonable endeavours to ensure that a property will be built in all material respects in accordance with plans and designs as may be revised from time to time and which are available for inspection on the site being developed or in the relevant regional office of the developer.

You acknowledge that developers reserve the right to alter plans, designs and specifications at any time without prior notice. We therefore will not be responsible for any such changes. All descriptions are intended only as a general guide and are not to be relied upon by you or other interested parties as a statement or representations of fact but you should satisfy yourself by inspection or otherwise. No warranties or representations are given that the contents of the website or information otherwise distributed will reflect the most recent plans, designs or specification. 

 

Confidentiality

Confidential Information means all information relating to current or prospective investment opportunities, our customers and prospective customers, current or projected financial or trading situations, business plans, business strategies, developments and all other information relating to our business affairs including any Information of a confidential nature imparted by us to you during the use of our Services.

You undertake to us that in consideration of us making such information available to you:

  1. all Confidential Information disclosed to you by or on behalf of us or which may at any time come into your knowledge, possession or control, shall be kept secret and confidential and shall not be used for any purpose other than that required or permitted for the use of our Services, and shall not be disclosed to any third party except insofar as this may be required for the proper use of our Services and then only under appropriate confidentiality provisions approved by us.
  2. you shall promptly notify us if any Confidential Information is required by law to be disclosed by you or any other person receiving it under or pursuant to these Terms and shall co-operate with us regarding the manner of such disclosure (but without prejudice to any obligation to comply with any legal requirement).


Intellectual Property

All design, copyright, trade marks and all other intellectual property rights in or relating to the web site or information otherwise distributed by us, shall remain our property or, where applicable, are reproduced with the permission of the rights' owner, such as content suppliers, Third Parties and/or users. On the web site you may browse the contents, use any facilities and download a single copy of any material to the extent that it is expressly made available to you, but this is solely for your own personal use and you must not remove any copyright or trade mark notices. You may not modify, reproduce, distribute, republish, display, post, transmit or sell any such material for any commercial or business purpose, without our prior permission or the permission of the rights’ owner. 

 

Liability

You agree and acknowledge that to the extent permitted by law, and in view of the numerous sources from which we obtain the Information, the impracticality of verifying the sources. We are not authorized by the Financial Services Authority to provide investment or financial advice. By signing reservation forms and/ or Finders Fee agreements you acknowledge that we have not provided you with financial advice.

We are providing Information "as is", on a "with all faults" basis and we make no representations or warranties of any kind with respect to:

  • The web site and content contained on the web site;
  • The truth, accuracy, or completeness of any Information distributed to you by us, by any means;
  • The condition, quality, performance, accuracy, suitability, fitness for purpose, completeness, or freedom from viruses of the web site;

We are not responsible for your ability to use the web site or that it will be available in its current or any other format. We have no control over the Information that can be accessed through, downloaded from or uploaded to the web site. We are not responsible or liable to you for any loss of content, or material that you upload or download or transmit through the web site. We will not be responsible or liable to you or any third party for any Information, modification, suspension of or discontinuance of our Services.

It is your decision, where applicable, to use, post, submit, remove or alter information and material to us, or on, to or from the web site and we are not responsible or liable for any loss or damage incurred by you or any third party as a result of your doing or failing to do the same. We exclude all liability of any kind including invasion of privacy, defamation, or negligence.

The following provisions set out our entire financial liability (including any liability for the acts or omissions of its employees, agents and sub-contractors) to you in respect of:

  • any breach of these Terms;
  • or any representation, statement or omission, including negligence arising under or in connection with these Terms;
  • or your access to, or use of, or inability to use our Services whether via the post, telephone, the web site or otherwise;
  • or any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure or postal errors;
  • or any action or decision taken as a result of using our Services

All warranties, conditions and other terms implied by statute or common law (save for the conditions implied by section 12 of the Sale of Goods Act 1979) are, to the fullest extent permitted by law, excluded from these Terms. Nothing in these Terms excludes or limits our liability for death or personal injury caused by our negligence or fraudulent misrepresentation.

 

Subject to the above two paragraphs

  • our total liability in contract, (including negligence or breach of statutory duty), misrepresentation, restitution or otherwise, arising in connection with the performance or contemplated performance of the Services shall be limited to £10,000; or the Finders Fee paid by you, whichever is the greater and
  • we shall not be liable to you for any indirect or consequential loss or damage (whether for loss of profit, loss of business, depletion of goodwill or otherwise), costs, expenses or other claims for consequential compensation whatsoever (howsoever caused) which arise out of or in connection with the provision of the Services. Where you the Investor are a consumer rather than a business no provision of this Liability clause or these Terms shall affect your rights as a consumer.

 

Suspension or Cancellation of Service

We reserve the right to cancel your access to our Services any time. We may suspend, restrict, reduce or cancel your access immediately if you breach or appear likely to breach any of these terms. You may cancel your registration at any time by writing to us, or emailing us. Upon cancellation you will become liable to pay any outstanding fees, monies or costs owed to us immediately. 

 

Amendments to these Terms

We reserve the right to change these Terms at any time. We will give you 7 days notice by posting notice on the web site and sending you either postal notification or an email. If you do not want to accept any new terms you must inform us immediately of your intention by writing or emailing us, otherwise you will be deemed to have accepted such new terms. 

 

Invalidity

If any provision of these Terms is held by any competent authority to be invalid or unenforceable in whole or in part, the validity of the other provisions of these Terms and the remainder of the provision in question shall not be affected. 

 

Waiver

No waiver by us of any breach of the Terms by you shall be considered as a waiver of any subsequent breach of the same or any other provision.

 

Entire Agreement

These Terms constitute the entire agreement between you and us, supersede any previous agreement or understanding and may not be varied except in writing between us. All other Terms and Conditions, expressed or implied by statute or otherwise, are excluded to the fullest extent permitted by law. 

 

Notices

Any notice to be given under these Terms by either party to the other must be given in writing, in English, and shall be deemed to be served:

  • in the case of us communicating with you, twelve hours after we send an e-mail to the e-mail address specified by you during registration on our website/s or any changed e-mail address subsequently notified to us by any means;
  • or 48 hours after posting correspondence to the address specified by you during registration or any changed address subsequently notified to us; and
  • in the case of you communicating with us, twelve hours after an email is sent to info@propertyinvestment.co.uk

or 48 hours after a Recorded Delivery Letter is sent to Propertyinvestment.co.uk Limited, C/O Tamasa Business Services Limited, Suite 117-118, 11 Burford Road, Stratford, London E15 2ST

 

Data Protection

We will respect your personal information and comply with all applicable UK Data Protection legislation and rules currently in force. We will use any information provided by you to us to constantly monitor and improve our services to you and for marketing purposes. We may also use such information to send specific correspondence which, in our opinion, may be of interest to you. 

 

Third Party Rights

A person who is not a party to these Terms has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of these Terms, but this does not affect any remedy or right of any third party, which exists or is available apart from that Act. 

 

Laws Applicable

These Terms shall be governed by and construed in accordance with the laws of England and Wales and all disputes arising in connection with them shall be submitted to the exclusive jurisdiction of the English Courts.