Terms and Conditions
- 1.1 The definitions in this clause apply to these Terms:
- Force Majeure Event: shall have the meaning given in clause 9.
- Order: your order for the Services as set out overleaf.
- Order Confirmation: shall have the meaning set out in clause 2.5(b).
- Services: the services that we are providing to you as set out in the Order.
- Terms: the terms and conditions set out in this document.
- Deal: refers to the chosen property and any and all terms, services, conditions, materials pertaining the purchase of the property.
- Stock Property: A property where Exchange and completion will take place simultaneously.
- We/us: YourPropertyClub.com Ltd (Company Registration Number 5312201). Our registered office is Bank House, 81 St Judes Road, Englefield Green, Surrey, United Kingdom, TW20 0DF.
- Writing or written: includes faxes and e-mail.
- 1.2 Headings do not affect the interpretation of these Terms.
2. Basis of Sale
- (a) We consider these Terms and the Order to set out the whole agreement between you and us for the supply of the Services. These Terms only apply to our contracts with consumers.
- (b) Please check that the details in these Terms and on the Order are complete and accurate before you commit yourself to the contract. If you think that there is a mistake, please make sure that you ask us to confirm any changes in writing, as we only accept responsibility for statements and representations made in writing by our authorised employees and agents.
- (c) Please ensure that you read and understand these Terms before you sign the Order, because you will be bound by the Terms once a contract comes into existence between us, in accordance with clause 2.5.
- 2.2 Any samples, drawings, descriptions or advertising we issue or figures we quote, and any descriptions or illustrations contained in our websites, catalogues, worksheets, checklists or brochures, are issued or published solely to provide you with an approximate idea of the Services they describe. They do not form part of the contract between you and us or any other contract between you and us for the supply of the Services.
- 2.3 If any of these Terms are inconsistent with any term of the Order, the Order shall prevail.
- 2.4 The Order is an offer by you to enter into a binding contract with us, which we are free to accept or decline at our absolute discretion.
- 2.5 These Terms shall become binding on you and us when:
- (a) we issue you with written acceptance of an Order; or
- (b) we notify you that we are able to provide the Services,
- 2.6 A quotation from us shall be valid for a period of 7 calendar days from its date of issue, unless we notify you in writing that we have withdrawn it during this period.
- 2.7 We shall assign an order number to the Order and inform you of it in the Order Confirmation, this will normally be your Plot Number together with your Development Name. Please quote the order number in all subsequent correspondence with us relating to the Order.
- 2.8 We have the right to revise and amend these Terms from time to time to reflect changes in market conditions affecting our business, changes in technology, changes in payment methods, changes in relevant laws and regulatory requirements and changes in our system's capabilities. You will be subject to the policies and terms in force at the time that you order the Services from us, unless any change to those policies or these Terms is required by law or government or regulatory authority in which case it will apply to orders you have previously placed that we have not yet fulfilled.
3. Quality of services
- 3.1 Unless we are prevented from doing so by a Force Majeure Event, we will provide the Services.
- 3.2 Advice about your legal rights is available from your local Citizens' Advice Bureau or Trading Standards office.
- 3.3 These Terms apply to any replacement Services we supply to you in the unlikely event that the original Services do not conform with these Terms.
- 3.4 You must provide us, in sufficient time, with any information and instructions relating to the Services that is or are necessary to enable us to provide the Services in accordance with these Terms.
- 3.5 If you do not, or you provide us with incomplete, incorrect or inaccurate information or instructions, we may cancel the Order by giving you written notice, or we may make an additional charge of a reasonable sum to cover any extra work that is required.
- 3.6 We only supply the Services for domestic and private use, and you agree not to use the Services for any commercial purpose.
4. Provision of services
- 4.1 We will supply the Services to you from the date set out in the Order.
- 4.2 The Services will be supplied until otherwise terminated in accordance with these Terms.
- 4.3 We will make every effort to complete the Services on time but there may be delays due to circumstances beyond our control. In this case we will complete the Services as soon as reasonably possible.
- 4.4 We may have to suspend the Services if for example we have to deal with technical problems, or to make improvements to the Service. We will let you know in advance where this occurs, unless the problem is urgent or an emergency.
5. Defective services
- 5.1 In the unlikely event that the Services do not conform with these Terms, please let us know as soon as possible after we have carried them out.
- 5.2 These Terms will apply to any replacement Services we supply to you.
6. Intellectual property rights
- 6.1 The copyright, design right and all other intellectual property rights in any materials and other documents or items that we prepare or produce for you in connection with the Services will belong to us absolutely.
- 6.2 You may not use the materials, documents or other items detailed in clause 6.1 for any commercial purpose.
7. Price and payment
- 7.1 The price of the Services will be as set out in the quotation we provided to you or, if we have not provided a quotation or the quotation has expired, our normal price list will be in force at the time we confirm your Order. Prices are liable to change at any time, but price changes will not affect Orders that we have confirmed in writing.
- 7.2 These prices include VAT. However, if the rate of VAT changes between the date of the Order and the date of delivery, we will adjust the VAT you pay, unless you have already paid for the Services in full before the change in the rate of VAT takes effect.
- 7.3 We may invoice you for the Services at any time after we have provided the Services to you. The invoice will quote the Order Number. You must pay the invoice in cleared monies within 7 calendar days of the date of the invoice by bank trasnfer or telegraphic transfer only.
- 7.4 If you do not make any payment due to us by the due date for payment, we may charge interest to you on the overdue amount at the rate of 4% a year above the base lending rate of Natwest Bank PLC from time to time. This interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgment. You must pay us interest together with the overdue amount.
- 7.5 Without limiting any other remedies or rights that we may have, if you do not pay us on time, we may cancel or suspend our performance of the Services or any other outstanding Order until you have paid the outstanding amounts.
- 7.6 Reservation Deposit. A Reservation Deposit is payable on reservation of a given property. The amount will be given at the time of marketing launch. In the event that for any reason you do not proceed through to exchange any Reservation Deposit paid will be non-refundable. In the case where the developer pulls the deal prior to exchange you may receive the Reservation Deposit paid although this cannot be guaranteed, however in this case YPC will credit your YPC account with the amount of Reservation Fee paid.
- In some cases we may ask you to pay the Reservation Deposit directly to the developer.
- 7.7 Property Finders Fees. We will charge you a finders fee; this is normally 2.5% of the valuation or developer’s list price (plus any VAT) or minimum of £4000 (inclusive of VAT) or a maximum of £10,000 (inclusive of VAT). In consideration of the Property Finders Fee we undertake to source a property and to support you throughout the process of buying and holding your property. Property Finders Fees are non-refundable should the property fail to exchange or complete, regardless of the reason. However we will apply a credit to your YPC account equivalent to the finders fee paid. Should you choose to pull out of the purchase of a property after any cooling off periods, Property Finders fees will not be refunded.
- 7.8 Credit for costs incurred by you if a sale falls through or otherwise does not proceed.
- When a deal falls through or otherwise does not proceed through to legal exchange and where you have not pulled out or otherwise jeapodised the deal, YPC will apply a credit to your YPC Credit Account equivalent to the costs you incurred. This credit is limited to £3000 and will only cover direct out of pocket costs such as Valuation fees, Mortgage Application fees, Reservation Fees, Snagging Fees, and Solicitors Abortive fees.
- Credits do not attract any interest.
- 7.9 YPC Credit Account. Where a credit has been applied to your account you may use this credit towards the property finders fees on another property bought through YPC. Credits may be held on account indefinitely. Credits have no cash value. You may request the balance of your YPC credit account via email to firstname.lastname@example.org at any time.
- 7.10 Transfer of YPC credits held on Account to YPC Lettings. You may request, at our sole discretion, to transfer credits held on account to YPC Lettings for use towards management fees on a property that is managed by YPC Lettings.
- You will receive a confirmation that the transfer has taken place.
- 7.11 Introducer fees, Agency fees and Commissions. You agree we may in addition to Property Finders fees receive introducer fees, referral fees, agency fees, and / or commissions. This can include fees from developers and other third parties.
- 7.12 Allocation of monies received. All money received will be allocated to any expenses owed, followed by Reservation Deposits, followed by Finders Fees owed.
- Any excess monies paid may either be refunded, if requested within 14 days, or credits will be applied to your YPC account. These excess credits may, at our discretion, be transferred to YPC Lettings management fees.
- 7.13 What happens when a deal falls over, is pulled or otherwise doesn’t proceed…
- Where the developer pulls the deal — A credit will be applied to your YPC Account equivalent to the finders fees paid and your direct costs.
- Where we pull the deal — We will not normally pull a deal unless we consider it has become unreasonable to expect a client to proceed with the deal, in this case a credit will be applied to your YPC Account equivalent to the finders fees paid and your direct costs.
- Where you pull out of a deal after paying fees but before exchange — You have a 7 day cooling off period after which point you will lose your fees.
- Where you are unable for whatever reason to complete on the property after exchange has taken place — you will not receive any fees back under any circumstances.
- 7.14 What happens if you cannot get a mortgage and are unable to complete?
- Within 14 days of reservation and before exchange — Where you are purchasing a stock property you will be covered by our 5 Property Guarantees and therefore you will be refunded any of the fees that you have paid on a stock property as detailed in those guarantees as long as you have not provided misinformation or jeapoldised the deal in any way. Otherwise a credit will be applied to your YPC Account equivalent to the Finders Fees paid.
- After 14 days and before exchange — You will receive a credit to your YPC Account equivalent to the Finders Fees paid.
- After exchange and before completion — you will not receive back any of your fees and you are still legally bound to complete. If you find yourself in this situation you should consult competent authority as soon as possible.
- 7.15 What happens if my property goes down in value?
- Before Exchange/Completion — We may be able to renegotiate the price that you will pay for the property. If we cannot then you have the choice of proceeding at the lower value or pulling out and choosing another property.
- After Exchange — You will normally be required to complete on the property at the price negotiated and that is contained in the contract.
- After Completion — Whilst this may be frustrating you will simply need to hold the property and continue paying the mortgage and costs of holding the property.
- 7.16 What happens if my property goes up in value?
- Before exchange — The Developer may choose to raise the price of the property, although this is rare. In which case you can proceed at the higher price or pull out and choose another property.
- After Exchange and before Completion — You will still pay the price negotiated and that is detailed in the Contract. Depending on the terms of the contract you may also be able to sell or assign your interests in the property for a profit. YPC do not assist in the sale of properties.
- After Completion — You may be able to go back to your existing lender or a different lender and borrow more money through a refinance or remortgage.
- 7.17 What happens if I miss a mortgage payment? This is very serious and may affect your ability to get credit in the future. Normally if you miss one payment the lender will not repossess the property but you should contact them or a financial professional as soon as possible.
- 7.18 What happens if I cannot pay my mortgage? This is very serious and will affect your ability to get credit in the future. You will need to contact a financial professional as soon as possible to discuss your options.
- 7.19 What happens if interest rates go up? Where you have a mortgage against the property and you do not have a Fixed Interest Rate mortgage then your mortgage payments will normally rise. You should allow for this before you commit to buying a property; ensuring you have a comfortable margin for interest rate increases.
8. Limitation of liability
- 8.1 Subject to clause 8.2, if either of us fails to comply with these Terms, neither of us shall be responsible for any losses that the other suffers as a result, except for those losses which we or you could reasonably foresee would result from the failure to comply with these Terms.
- 8.2 Neither of us shall be responsible for losses that result from our
failure to comply with these Terms including, but not limited to, losses
that fall into the following categories:
- (a) loss of income or revenue;
- (b) loss of business;
- (c) loss of anticipated savings; or
- (d) loss of data.
- 8.3 We disclaim to the maximum extent permitted by law all representations, warranties (express or implied) regarding products, services, quantities, pricing, information, published on our website, in our brochures or other documents or in any other form or location. Data is constantly updated and therefore is not necessarily accurate, current or complete. By use of our Service, you agree to bear full responsibility for your own investment research and investment decisions. You also agree that we shall not be liable for any decision made or action taken based upon reliance on news, information, or any material published or provided in any media by us.
- 8.4 Disclaimer: While every effort has been made to accurately represent our products and their potential there is no guarantee that you will earn any money using the techniques and ideas in these materials. Examples in these materials are not to be interpreted as a promise or guarantee or earnings. Earning potential is entirely dependent on the person using the products, the ideas and the techniques. We do not purport this as a “Get Rich Scheme”. Any claims made of actual earnings or examples of actual results can be verified upon request. Results are not typical. Your level of success in attaining the results claimed in our materials depends on the time you devote to the program, ideas and techniques mentioned, your finances, knowledge and various skills. We cannot guarantee your success or income level.
- 8.5 We make no promises that out content or the service itself will be delivered in an uninterrupted, timely, secure or error-free fashion.
- 8.6 No decisions, No responsibility. You agree that we, our directors, employees or shareholders have given no advice as to the suitability of your investment. They have only relayed their own personal experiences and those of its employees and clients in property. You further agree that you have made all decisions and take full responsibility for those decisions. In the case where you had questions or were unsure you consulted competent authority and those questions have been answered to your full satisfaction prior to proceeding.
- 8.7 Changes in the market and criteria. You accept that whilst we present various possible structures to purchase property that we cannot be held responsible for changes in lenders criteria, law society guidelines, government legislation or in the market which affect your property.
- 8.8 This clause does not include or limit in any way our liability for:
- (a) death or personal injury caused by our negligence; or
- (b) fraud or fraudulent misrepresentation; or
- (c) any breach of the obligations implied by section 12 of the Sale of Goods Act 1979 or section 2 of the Supply of Goods and Services Act 1982; or
- (d) losses for which it is prohibited by section 7 of the Consumer Protection Act 1987 to limit liability; or
- (e) any other matter for which it would be illegal or unlawful for us to exclude or attempt to exclude our liability.
- 8.9 Mortgage Product. You have NOT been advised by anyone associated with us, apart from an independent mortgage adviser, that you can get, are likely to get, will be eligible for, approved for, a particular product, a particular interest rate or a particula r loan-to-value.
- 8.10 Remortgaging or Refinancing your property after completion. You have not been promised by anyone associated with us that you will be able to remortgage your property, no guarantees have been given and you realise that it may not be possible and therefore you proceed on the basis that you can afford the property regardless. You have also not been assured a length of time before a remortgage will / may be / or is possible.
- 8.11 Your Buy-to-Let Investment is NOT Regulated. Some elements of your purchase may fall under a regulated framework but you understand that the purchase of a Buy-to-Let property is not within a financially regulated framework and therefore may be considered as a high-risk investment.
- 8.12 Affordability. You agree that you have looked over the cash flow illustrations provided on our website and confirmed all figures and calculations through your own research and feel that it is well within your financial means to purchase and service this property on an ongoing basis including any allowances for changes in the market.
- 8.13 It is up to you to conduct sufficient due dilligence and research into the property including seeking competent authority prior to making any financial decision, this includes undertaking a property valuation, researching the area and market rent. We make no claims as to the specification sheet for the individual plots. You are aware that property values and rents can go up as well as down and that if you do not keep up payments on loans or mortgages secured on your property it may be repossessed and you may ultimately be faced with bankruptcy.
- 8.14 It is up to you to make any necessary insurance arrangements in place and to obtain adequate cover.
- 8.15 Our 5 Property Guarantees: if your property benefits from one or all of our guarantees the specific terms and conditions are available on our website at www.yourpropertyclub.com/our-guarantees
- 8.16 Incentives. You agree that all incentives have been clearly explained to you and you accept that should incentives become unacceptable at any time you may still be required to proceed with the purchase.
9. Events outside our control
- 9.1 We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under these Terms that is caused by events outside our reasonable control (Force Majeure Event).
- 9.2 A Force Majeure Event includes any act, event, non-occurrence,
omission or accident beyond our reasonable control and includes, in
particular (without limitation), the following:
- (a) strikes, lock-outs or other industrial action; or
- (b) civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war; or
- (c) fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster; or
- (d) impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport; or
- (e) impossibility of the use of public or private telecommunications networks.
- (f) Developer or Builder going bust, going into administration causing delays or cessation in the build program.
- 9.3 Our obligations under these Terms are suspended for the period that the Force Majeure Event continues, and we will extend the time to perform these obligations for the duration of that period. We will take reasonable steps to bring the Force Majeure Event to a close or to find a solution by which our obligations under these Terms can be performed despite the Force Majeure Event.
10. Property Consultant/Portfolio Manager Availability
- You have been given access to your Property Consultant and Portfolio Managers after hours contact number who will be available to you during normal office hours (which are Monday to Friday 9am – 6pm) and at other times at their discretion. You understand that at times outside office hours it is a privilege given freely by the individual person and does not form part of the Services with us or any party.
11. Sleep Test (24 hour cooling off period)
- The purchase of property is a big decision and we accept that so you have to sleep on a decision prior to making it. As part of our commitment to you sleeping soundly with all your decisions you have a full 24 hours cooling off period from the point of confirming your reservation. During this time you may choose not to continue with this purchase. You must phone or email us with this information within the time frame in order to cancel. This does not affect your statutory rights.
- You may not transfer any of your rights or obligations under these Terms to another person without our prior written consent, which we will not withhold unreasonably. We can transfer all or any of our rights and obligations under these Terms to another organisation, but this will not affect your rights under these Terms.
- All notices sent by you to us must be sent to us at the following address, Chief Executive Officer, YPC Group, 4 – 8 Rodney St, Islington, London, N1 9JH or email address, email@example.com. We may give notice to you at either the e-mail or postal address you provide to us in the Order. Notice will be deemed received and properly served 24 hours after an e-mail is sent or three days after the date of posting of any letter. In proving the service of any notice, it will be sufficient to prove, in the case of a letter, that the letter was properly addressed, stamped and placed in the post and, in the case of an e-mail, that the e-mail was sent to the specified e-mail address of the addressee.
14. Data protection
- 14.1 We will only use the personal information you provide to us to provide the Services, or to inform you about similar services which we provide, unless you tell us that you do not want to receive this information.
- 14.2 You acknowledge and agree that we may pass your details to third parties including but not limited to credit reference agencies, mortgage brokers, solicitors, letting agents, snagging, curtains, furniture and flooring contractors and we are permitted to discuss particulars of the service we provide with third parties.
- If you have a complaint about any part of the service please contact us in writing to: Chief Executive Officer, YPC Group, 4 – 8 Rodney St, Islington, London, N1 9JH or telephone +44 (0)207 812 1255.
16. Further Explanation
- If for any reason you are unsure about any of the above please contact us for clarification.
17. Consumer Protection
- As the contract for our services may have been made other than in person (for example by telephone, fax or e-mail) the Consumer Protection (Distance Selling) Regulations 2000 may apply (“the Regulations”). In addition The Cancellation of Contracts Made In a Consumer’s Home or Place of Work etc Regulations 2008 may apply. These Regulations oblige us to give you certain information, much of which is contained above. Additionally, please note that you have the right to cancel this contract. To do so you must give us written notice within seven (7) working days starting from the day after you receive these Terms and Conditions.
- 18.1 If any court or competent authority decides that any of the provisions of these Terms are invalid, unlawful or unenforceable to any extent, the term will, to that extent only, be severed from the remaining terms, which will continue to be valid to the fullest extent permitted by law.
- 18.2 If we fail, at any time while these Terms are in force, to insist that you perform any of your obligations under these Terms, or if we do not exercise any of our rights or remedies under these Terms, that will not mean that we have waived such rights or remedies and will not mean that you do not have to comply with those obligations. If we do waive a default by you, that will not mean that we will automatically waive any subsequent default by you. No waiver by us of any of these Terms shall be effective unless we expressly say that it is a waiver and we tell you so in writing.
- 18.3 A person who is not party to these Terms shall not have any rights under or in connection with them under the Contracts (Rights of Third Parties) Act 1999.
- 18.4 These Terms shall be governed by English law and you and we both agree to the non-exclusive jurisdiction of the English courts.