Terms and Conditions

This is the important stuff


    1. BETR Technology LTD, trading as “Koyo” (“Koyo”, “we”, “us”, “our”) is a limited liability company registered in England and Wales, number 11483187. Koyo’s registered office address is Huckletree Soho, Ingestre Court, Ingestre Place, London, United Kingdom, W1F 0JL. Koyo is authorised and regulated by the Financial Conduct Authority ("FCA") under Financial Services Register number 826425. Koyo is also registered with the Information Commissioner’s Office under registration number ZA542101.
    2. Koyo operates the website www.koyoloans.com (the “Site”), which provides an online platform ("Platform") that allows customers ("Customers") to apply for personal loans (“Loan”).
    3. By accessing or using the Site through any means, you are agreeing to be bound by:
      • these terms and conditions which govern your use of the Site (the "Terms")
      • our Privacy Policy available at Koyo's Privacy Policy, which sets out how we process personal data we collect from or about you
      • our Cookie Policy available at Koyo's Cookie Policy, which explains the cookies that we use on the Site.
    4. You should refer to your Loan Agreement for the terms and conditions associated with your borrowing and repayment.
    5. These Terms, together with the Privacy Policy, apply howsoever you decide to access the Site (including through the website or through any mobile device application).
    6. We can make changes to these Terms and/or to the way we operate the Site from time to time. Any changes we may make to these Terms in the future will be posted on the Site and, where appropriate, notified to you by email. Please review this page frequently to see any updates or changes to these Terms.
    7. If you do not agree to these Terms or to any changes made to them, you must not use, and must cease using, the Site.
    8. If you have any questions about these Terms, please contact us at: [email protected]

    1. Our Privacy Policy, will apply to your use of this Site. The Privacy Policy sets out the terms on which we process any personal data we collect from you, or that you provide to us. By using the Site, you acknowledge the contents of the Privacy Policy and assure us that all data provided by you is accurate.

    1. We do not guarantee that the Site, or any content on it, will always be available or be uninterrupted. Access to the Site is permitted on a temporary basis and we may need to suspend access to the Site, or any part of it, without notice where we are required to do so by any applicable laws or for business and operational reasons. We will try to give you reasonable notice of any suspension or withdrawal.
    2. You are also responsible for ensuring that all persons who access our Site through your internet connection are aware of these terms of use and other applicable terms and conditions, and that they comply with them.
    3. You are responsible for configuring your information technology, computer programmes and platform in order to access the Site. You should use your own virus protection software.

    1. Our Site is directed to people residing in the United Kingdom. We do not represent that content available on or through our site is appropriate for use or available in other locations.

    1. You will not access or use the Site except for their intended purpose and will not attempt to:
      1. gain unauthorised access to, make unauthorised alterations to, or introduce any kind of malicious code to the Site by any means;
      2. reverse engineer or decompile (whether in whole or part) the Site or any software available through the Site;
      3. make copies, modify, reproduce, transmit, alter or distribute all or any part of the Site or any material or information contained in it, other than as permitted by law;
      4. use the Site for any purpose that is unlawful under any Applicable Law;
      5. use the Site to commit any act of fraud;
      6. use the Site to simulate communications from us or another service or entity in order to collect identity information, authentication credentials, or other information (‘phishing’); or
      7. use the Site in any manner that disrupts its operation.
    2. You will not disguise or interfere in any way with the IP address of the computer you are using to access the Site or otherwise take steps to prevent us from correctly identifying the actual IP address of the computer you are using whilst accessing the Site.

    1. Koyo provides the lending services available from the Site, subject to the terms and conditions set out in these Terms.
    2. By making an application for a loan via the Site, you agree and confirm:
      1. all the information you have provided to us is accurate and correct and you are the person whose details you have provided;
      2. you can enter into a legally binding agreement with us;
      3. you will only use the Site for the purposes envisaged by these Terms and the Loan Agreement;
      4. you have provided a current address, telephone number and e-mail address and will notify us immediately if your contact details change;
      5. you are over 18 years of age and under 75 years of age and capable of taking responsibility for your own actions;
      6. you hold a current account at a UK bank or building society;
      7. you are a resident of the United Kingdom (excluding the Channel Islands and Isle of Man) or have a right to stay in the United Kingdom (excluding the Channel Islands and Isle of Man) for at least 12 months;
      8. you have a good credit history with no late payments, debt relief orders, county court judgments, individual voluntary arrangements or bankruptcies; and
      9. at any time we can use any means that we consider necessary to verify your identity with any third party providers of information. Please refer to our Privacy Policy for details of steps we undertake to do this.
    3. You must provide us with all information requested during the application, registration or payment process and comply with all our identification and anti-money laundering requirements to enable us to comply with all applicable laws, regulations, rules and regulatory guidance.
    4. We use a tool provided by TrueLayer Limited (“TrueLayer”) that allows you to send information on your payment accounts to us and other service providers. In order to use our services, you will be asked to agree to their Terms of Service and enter your payment account details with TrueLayer or, for Open Banking connections, you will be redirected to your bank by TrueLayer in order to authenticate yourself. The Terms of Service set out the terms on which you agree to TrueLayer accessing information on your payment accounts for the purposes of transmitting that information to us. TrueLayer is subject to UK and EU data protection laws and is required to treat your data in accordance with those laws, as well as the Terms of Service and TrueLayer’s Privacy Policy. TrueLayer is authorised by the UK Financial Conduct Authority under the Payment Services Regulations 2017 to provide account information services and payment initiation services (Firm Reference Number: 793171).
    5. We reserve the right, in our sole discretion, to refuse to provide any of our services to you.
    6. Upon receipt of your application for a loan, Koyo shall:
      1. conduct, or arrange for a third party to conduct credit checks using the personal information you have provided to us. Please refer to our Privacy Policy for details of steps we undertake to do this;
      2. conduct, or arrange for a third party to conduct, identity checks;
      3. assess your application for a loan; and
      4. issue a decision to grant or deny your application for the loan.
    7. The decision to grant an application for the loan, and your credit limit in relation to it, is final and at the sole discretion of Koyo.
    8. If your application for credit is successful, Koyo will issue to you a Loan Agreement outlining the borrowing and repayment terms that will apply to your loan.

    1. Koyo provides independent credit broking services from the Site, subject to the terms and conditions set out in these Terms.
    2. We do not charge a fee for using our broker services, but we do receive commission from lenders or other brokers if a customer enters into a consumer credit agreement with a lender or broker following an introduction through the Site.
    3. Please be aware that all lenders are FCA authorised and will make their lending decisions based on their own criteria and affordability assessments.

    1. If your application for a loan is successful, we will provide you with a user account which allows you to access information regarding your loan, including payments made and yet to be paid.
    2. You are responsible for maintaining the confidentiality of your account details, including any user identification codes, passwords or any other piece of information that forms part of our security procedures, and you must not disclose these to any third party.
    3. You are responsible for all activity under your account even if someone else uses your account. You authorise us to act on instructions received under your account and we will not be liable for any loss that you might suffer through following such instructions whether by you or another person.
    4. We have the right to disable any user ID or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Terms.
    5. You agree to inform us immediately (via the Site, by e-mail or by telephone) if you know or suspect that any of your account information or password has been compromised or are being misused so that we may suspend your account.
    6. You agree to inform us as soon as possible if any information provided by you or contained in your account changes and/or if you become aware of any errors with respect to your account and/or if you lose access to your account for any reason whatsoever.
  9. 9. FEES

    1. No fees are payable by you to use the Site as an applicant or borrower, other than the interest that is payable under your Loan Agreement.

    1. The Site and all intellectual property rights in it including but not limited to any content are owned by us, our licensors or both (as applicable). Intellectual property rights means rights such as: copyright, trade marks, domain names, design rights, database rights, patents and all other intellectual property rights of any kind whether or not they are registered or unregistered (anywhere in the world). We and our licensors reserve all of our and their rights in any intellectual property in connection with these Terms. This means, for example, that we and they remain owners of them and free to use them as we and they see fit.
    2. Nothing in these Terms grants you any legal rights in the Site other than as necessary to enable you to access the Site. You agree not to adjust to try to circumvent or delete any notices contained on the Site (including any intellectual property notices) and in particular in any digital rights or other security technology embedded or contained within the Site.
    3. Trade marks: Koyo is our trade mark. Other trade marks and trade names may also be used on the Site. The use of any trade marks on the Site is strictly prohibited unless you have our prior written permission.
    4. www.koyoloans.com is our uniform resource locator ("URL"). You must not make any use of this URL (or any other URL owned by us) on another website or digital platform without our prior written consent.

    1. The content on our site is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice (including financial advice) before taking, or refraining from, any action on the basis of the content on our Site.
    2. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date.

    1. We do not guarantee that our site will be secure or free from bugs or viruses.
    2. You are responsible for configuring your information technology, computer programmes and platform to access our Site. You should use your own virus protection software.
    3. You must not misuse our Site by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful. 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 our site. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, you would 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 right to use our Site will cease immediately.

    1. If you have any concerns regarding borrowing and debt, whilst Koyo does not itself provide debt counselling or advice services, you can contact StepChange via the following link https://www.stepchange.org/ for further assistance.

    1. Koyo shall only be liable under these Terms for losses which are reasonably foreseeable and caused by our breach of these Terms or our negligence.
    2. This Site is for personal and non-commercial use only. We are not liable for business losses. If you use this Site for any commercial or business purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
    3. Nothing in these Terms excludes any statutory rights which may apply to your use of this Site and associated services which cannot be excluded, restricted or modified by contract.
    4. We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors or for fraud or fraudulent misrepresentation.
    5. Nothing in these Terms will limit our liability to you under the Financial Services and Markets Act 2000 ("FSMA") or the Handbook of the FCA available at http://fshandbook.info/FS/html/FCA/ ("FCA Rules"), and in the event of any conflict between the these Terms and FSMA or the FCA Rules then FSMA or the FCA rules (as the case may be) will prevail.
    6. We shall have no liability to you for any breach of these Terms caused by any event or circumstance beyond our reasonable control including, but not limited to, strikes, lock-outs or other industrial disputes; breakdown of systems or network access; or flood, fire, explosion or accident.

    1. We can terminate your account by notice in writing (which can include email) to you at any time in the event that:
      1. you are in material breach of any term of these Terms and/or your Loan Agreement; and/or
      2. we suspect that you have used the Site, or intend to use the Site, for the purpose of an illegal activity; and/or
      3. you are deemed either unable to pay your debts or as having no reasonable prospect of so doing, in either case, within the meaning of section 268 of the Insolvency Act 1986; and/or
      4. you apply for bankruptcy or become subject of a bankruptcy petition or order.
    2. You can terminate your account by providing 7 calendar days' written notice to us, provided you have no Loan Agreements outstanding at the time of your request.
    3. On termination of your account you will no longer be able to access your account or apply for a new loan.
  16. 16. LINKING

    1. Where this Site contain links to information, websites and resources provided by charities and other businesses or third parties, these links are provided for your information only. We have no control over the contents of those websites or the performance of the services. Your dealings with, and interest in, them on or via this Site is solely between you and the third party with whom you are dealing. Accordingly, you use these services at your own risk and we accept no responsibility for them or for any loss or damage that may arise from your use of them.
    2. You may link to this Site from another website without our consent in writing if you:
      1. link only to the homepage of the Site at www.koyoloans.com;
      2. don’t create frames or any other border around the Site;
      3. comply with all relevant laws and regulations on the website or platform you are linking from; and
      4. don’t imply that we endorse or are associated with your (or any other) website, product or service.
    3. You may not link to this Site from another website which contains inappropriate or distasteful content which reflects badly on us.
    4. We reserve the right to withdraw linking permission without notice.
  17. 17. COMPLAINTS

    1. We consider a complaint as being defined as an expression of dissatisfaction made by you in relation to any of the services we provide. In the event that you make a complaint, we will make every effort to rectify the problem as soon as practicably possible. If you have any complaint about this Site or any of the services we provide, you should contact us via [email protected] and we will try and resolve it as soon as possible.
    2. If you feel that your complaint or grievance has not been dealt with satisfactorily, you have the right to take your complaint to the Financial Ombudsman. If you have not received a final response letter from us within eight weeks of raising your complaint, or the final response letter has been received but is not satisfactory to you, you will need to bring your complaint to the Financial Ombudsman within six months. You can contact the Financial Ombudsman at The Financial Ombudsman Service, Exchange Tower, London, E14 9SR or by calling them on 0800 023 4567.
    3. If you do refer your complaint to the Financial Ombudsman Service, this will not affect your right to take legal action.
  18. 18. GENERAL

    1. The provisions of these Terms are personal to you and you cannot assign or transfer any of your rights or obligations under these Terms.
    2. We can assign our respective rights and obligations under these Terms.
    3. These Terms are governed by English law and you can bring legal proceedings in respect of them or the services available from them in the English courts. If you live in Scotland you can bring legal proceedings in either the Scottish or the English courts. If you live in Northern Ireland you can bring legal proceedings in either the Northern Irish or the English courts.
    4. If any provision of these Terms is or becomes illegal, invalid or unenforceable that will not affect the legality, validity or enforceability of any other provision of these Terms.
    5. 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 & Conditions.
Last updated: 28 June 2022.

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