Terms and Conditions of Service
LoanHut.co.za is a trading name of Triple Eight Media Pty Ltd, Company Number 2015/087851/07.
Registered Office: 18-19 Lombardy Business Park, Hazeldean, Pretoria, 0081
LoanHut is a Loan Comparison Broker and not Lender. They allow access to several lenders and other financial service providers.
BEFORE YOU MAKE ANY APPLICATION ON THIS WEBSITE (the Website) YOU SHOULD READ THESE TERMS AND CONDITIONS CAREFULLY AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE TIMING AND NATURE OF THE SERVICE WE PROVIDE.
These Terms and Conditions of Services (together with our Privacy Policy and Terms of Use) (these Terms and Conditions) govern the provision of credit broking services to you and apply to any contract between you and us when making an application for credit. Please read these Terms and Conditions carefully and make sure that you understand them before submitting any application through the website.
If you have any questions or would like more information after reading these Terms and Conditions about the service we provide, please email us on admin@loanhut.co.za or write to us at LoanHut: 18-19 Lombardy Business Park, Hazeldean, Pretoria, 0081.
You will be asked to read and agree to these Terms and Conditions before you submit any application for credit through the Website. By checking the tick box at the end of the application process you confirm that you accept these Terms and Conditions and agree to be bound by it. If you do not agree to these Terms and Conditions you will not be able to make an application for credit through the Website.
We strongly recommend that you print a copy of these Terms and Conditions or save them to your computer for future reference.
Our loan comparison service (our Service) enables consumers to compare various loan products with prospective lenders participating on our panel (Participating Lenders). We will provide our Service by allowing you to compare all loan options on our website and choosing a lender of your choice with whom you submit an application with.
You will be required to complete an online application form (directly on the Lenders website) that requests specific information from you. That information will include amongst other things your name, address, telephone number, email address, banking account information, and employment information. Our collection and use of that information is subject to the Website's Privacy Policy. In order to use the Website and / or our Service, you must agree to the separate terms and conditions set out in the Privacy Policy, which also form part of these Terms and Conditions.
Once you submit the application form(s) with one or more Participating Lenders, you understand and agree that you are submitting an inquiry about a loan product directly with them. We have no involvement or influence on your application once you apply directly on the Lender website. Some Lenders on our panel may charge you a Loan arrangement fee when processing your application, or they may charge you a fee/s for other related services they may provide you with. These fees are not related to us and our services in any way. By submitting the application form(s), you are extending an express invitation to the Participating Lender/s with whom your information is shared with to contact you by any means (including, without limitation, email, telephone, SMS/text message and direct mail) so that they may assist you with your transaction or provide information to you about additional offers in which you may be interested. If you do not wish to receive email messages you may request to be removed from their mailing list by using the opt-out mechanism listed in the correspondence you receive from them.
Participating Lenders who receive your application information review your information in real-time to determine whether your information meets their individual loan qualification criteria. Participating Lenders may, among other things, verify your identity, perform a credit check, and review your information against national databases (such as Experian, TransUnion, and others) which track consumer transactions with lending institutions. By submitting the application form(s), you agree to allow Participating Lenders to review, verify, and research your information in such manner.
We do not endorse or recommend the products of any Participating Lender. We are not an agent of you or any Participating Lender. We are not involved with any Participating Lender's use and/or review of your application information or in making a determination about whether you meet their individual loan qualification criteria. Each Participating Lender is solely responsible for the provision of its services to you, and we shall not be liable for any expense which you incur as a result of your breach of your obligations under the Terms and Conditions and / or unforeseeable losses or expenses which result from the introduction of you or the conduct of any Participating Lender.
You understand that each Participating Lender may keep your application information, whether or not you are accepted for a loan by them. If you apply for a particular product type and are unsuccessful, you may use our services to re-apply with another Lender.
We do not act as your agent and do not claim to find you the best loan available or a loan on the best terms available. What will be best for you will be dependent on a number of factors including your circumstances and we do not provide advice to you.You should consider all loan options available to you and decide, taking into account your current and foreseeable personal circumstances and the terms of the products offered, which would be best suited to your needs. If you need help with your financial circumstances, there are free sources of help which include TransUnion (Tel: 0861-482482)
The interest rate(s) offered to you will depend on the Participating Lenders assessment of your application and the products they offer. Each Participating Lender decides whether to approve any loan applications, how much to lend, at what rate, on which terms and subject to the provision of what evidence.
We work alongside a number of loan and finance providers. These are the companies and organisations that we use to help find loans and offers of finance for our clients.
Where we give examples they are only illustrations. We do not guarantee that loan examples shown on our website are applicable to or appropriate for your situation as each Participating Lender operates differently depending on its assessment of each individual customer's circumstances.
By using our Service, you agree for us, Participating Lenders and our other partners to communicate with you using telephone, email, SMS, fax and/or post to contact you in order to present various products and services we think would be of interest to you. When we communicate in writing, we may use the last postal address you gave us.
We do not use credit scoring such as searching your records with credit reference agencies, however you should be aware that most lenders including the Participating Lenders will carry out credit scoring with and access your credit file held by credit reference agencies. Where there are joint clients, it is usual for the credit file and credit score of both customers to be checked.
To help our fraud prevention and data protection strategy, you agree to us and our associate companies, credit reference agencies and selected third parties processing and using any personal data (whether provided electronically, in writing or orally) you give to us. You agree to us using the data to advise you of other products and services unless you notify us you do not wish to be informed of such products and services. The information that you give to the Lender must be true and accurate. You undertake to comply with any legal requirements applicable to you and to provide true and accurate information in order that they can comply with their legal and regulatory obligations. If you provide them with false, inaccurate or misleading information, and/or they suspect fraud may be committed in relation to your application through our/their Service, we/they may notify the appropriate credit and/or law enforcement agencies. This is likely to have a detrimental impact on your credit records. In the event that you provide them with false, inaccurate or misleading information they reserve the right to reclaim any losses incurred by them in performing the service to you.
We shall not be liable for any breach of obligation to you by any bank, counterparty, intermediary or other third party with whom you do business. You will be liable for any loss you suffer as a consequence of you providing inaccurate information to us or any other person including any Participating Lender(s).
We will incur no liability for any loss arising from non-performance by us which is caused by something beyond our reasonable control.
In the event that any of these terms (each of which is severable) is for any reason illegal, invalid or unenforceable, such provision as deemed modified sufficiently to render it enforceable, legal and valid and of similar effect as We intended.
We aim to update our website regularly, and may change the content at any time. If the need arises, we may suspend access to our website, or close it indefinitely. Any of the material on our website may be out of date at any given time, and we are under no obligation to update such material.
Apart from provisions expressly covering associate companies, nothing in these terms is enforceable by anyone who is not a party to them.
Representative example: As an example, if you borrow R15,000 over 15 months at a fixed rate of 28% per annum and a fee of R68.40 per month and initiation fee of R1,197 this would result in a representative rate of 68% APR (fixed). The total amount repayable would be R22,717.
Please note: we are NOT a lender - we are a loan broker working with the most reputable direct lenders in the market place to find you a loan. Our FREE service compares a wide range of lenders quickly, and finds you a lender that may be willing to lend to you today. Some lenders or brokers on our panel may charge you a fee to process your application.
Rates from 20% APR to 112% APR - we provide a no obligation loan searching service, your APR will be based on your personal circumstances. Loan repayment terms from 3 to 60 months.
