Terms and
Conditions
Terms
The website www.bbloans.co.nz (“the Site”) We are registered in New Zealand under company number 8558067. By accessing and using this website you agree to be bound by and to act in accordance with these Terms and Conditions and our Privacy Policy. If you do not wish to be bound by these terms you should not use this Site.
We may change these Terms and Conditions at any time. Unless stated otherwise, any change takes effect immediately. You are responsible for ensuring you are familiar with the latest Terms and Conditions. By continuing to access and use the Website, you agree to be bound by these Terms and Conditions. We may alter, update, restrict or discontinue access to our website without notice or liability.
You accept these Terms and Conditions when you submit your Application to us.
Our website
You must not seek to access, alter or delete any information to which you do not have authorized access, seek to overload the system via spamming or flooding, take any action or use any device or software to damage or interfere with the operation of this Site. You are solely responsible for any information submitted by you to our site.
We have no liability or responsibility to any person for any Loss in connection with exposure to viruses or other forms of interference which may expose you to security violation when you access or use this Website. It is your responsibility for ensuring the process by which you access and use the Website protects you from such risks.
Third Party Sites
This Site may include links to third party websites which are not owned, operated, or controlled by BB Loans LTD. We post such links solely for your convenience and by posting these links, this does not imply that BB Loans endorses the third party website. BB Loans does not accept liability for any loss, damage, expense or other liabilities incurred by you in respect of any business you take out with a third party linked by our website.
Services
BB Loans LTD is a finance broking business. We assist customers seeking to purchase new or used vehicles, boats, motorbikes, trailers and jet skis. We offer available finance and insurance options related to your purchase. We do not provide financial advise services nor do we make any recommendation or opinion in respect of any finance and insurance related products. BB Loans reserves the right to decline your application in which event we have not provided you with any services.
Application Process
You are solely responsible for any information submitted by you to our site. You are responsible for ensuring that all information supplied by you is accurate, up-to-date and not misleading or likely to mislead or deceive. To access our services, you must:
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Permanently Reside in New Zealand
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Hold a valid New Zealand Driver License
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Be 18 years or older
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Be working in a permanent role
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Be paid into a New Zealand bank account
You must complete the application form in full for submission. Once received we will do our checks to make sure you meet minimum criteria for our lenders. We will advise you once your application has been accepted by us to make credit applications to our lenders.
Before your application is submitted to our lenders, we will review and collect necessary additional personal information and documents from yourself and/or third parties as required to meet the lenders application requirements. Submission of your application does not form an agreement between us. Acceptance of the Application by us is not an assurance or guarantee that any application for credit will be accepted or that you will be offered any loan or insurance products.
Our Relationship
When you submit your Application with BB Loans LTD, subject to our acceptance, you assign us as your agent to make applications for credit and insurance to our lenders on your behalf. You authorize us to undertake any drivers license and credit checks required in support of your Application. You authorize us to use your personal information from your application to determine the most suitable finance company to submit your interest for credit. You authorize third parties to release any relevant requested information to us in line with our privacy policy as required and agree that we can collect, store, use and share personal information that you provide in accordance with our Privacy Policy
In the event a lender approves your application, we will not make any judgement about the terms of the offer or whether you should accept or decline the offer.
We will not make any judgement on the value and suitability of the asset you are purchasing or any insurance policy we have to offer in line with your purchase, although we will provide you information on options for you to conduct your own research.
Insurance Policies
When purchasing a vehicle under credit, the creditor may require you to have Motor Vehicle Insurance to meet their lending requirements. BB Loans can provide quotes and information about the vehicle insurance we have available but you may purchase insurance by a third party provider. The lender may request confirmation of this cover.
Other insurance policies include Mechanical breakdown, Guaranteed Asset Protection and Payment Protection Insurance. BB Loans will assess your eligibility for these policies and provide information of the terms of the policies (Provided by the insurer) but we will not advise of suitability or affordability of these insurances.
If either of the above insurance policies are accepted by you, BB Loans will provide policy wording, relative policy documents and confirm retail pricing with you before drawdown of the loan. You can opt to pay for these insurances upfront or you can add to your loan. If you choose to finance these products interest will be calculated on top of the retail pricing.
Your Obligations
You agree to provide information we reasonably request in order to make any application to our lenders and to respond to any requests by our lenders for any additional information and documents.
You warrant and agree that all information you provide to us is accurate, honest, complete and up to date and you have not excluded any information which may impact our lenders ability to assess your application and make a decision on offering you credit. You understand and accept that any information you provide us is not verified by us. we can not confirm the accuracy of such information when we pass on to our lenders. You must advise us of any circumstances which may change that you are aware of which may impact your personal circumstances.
You understand we do not take any responsibility for any loss you may suffer in connection with any inaccurate, dishonest, untrue or incomplete information provided by yourself or any authorized third party on your behalf while using our services.
Fees
BB Loans LTD will charge a broker fee for any contract you enter with our lenders which we have arranged by using your application details submitted by yourself. The Broker fee is to cover costs associated with the loan documentation preparation and settlement of your loan. Fees are advised to, and agreed with you before drawdown of the loan. Our broker fee will vary between $0 and $695, BB Loans may waive the broker fee in our sole discretion.
You acknowledge and agree that the above broker fee will be charged upfront and you can choose to have this added to your total amount financed which will incur interest over the term of the loan. the broker fee will then be paid to BB Loans LTD directly from the lender providing the credit upon draw down of the loan.
BB Loans LTD will provide you a copy of your loan agreement once completed outlining the broker fee along with other fees related to your contract. If you do not enter into the credit contract you will not be charged.
Interest rates offered and the term of the loan will depend on your own individual or company circumstances and the security you are purchasing.
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Commission
Additional to the broker fee, BB Loans may receive a variable commission from the insurance company and lender who provides you credit through use of our services. The amounts stated will vary based on the lender you sign a contract with and the amount that you borrow.
Termination
You may withdraw your application at any time by contacting us.
If your cancellation is received prior to BB Loans submitting any personal information to our lenders, your application will be terminated and no fees will be charged. BB Loans will immediately stop any work involved with your application until advised otherwise by yourself.
If your cancellation is received after BB Loans has submitted your personal information to our lenders, but prior to any signed contracts, BB Loans will request the lenders to immediately stop any work involved with your application until advised otherwise by yourself. BB Loans will not approach any further lenders with your application.
In the event you want to terminate once a loan is entered, you will need to adhere to the terms and conditions set out by the lenders around termination of their contract. Termination does not impact any fees that have be charged. Fees may also be charged upon termination.
We may terminate your use of our services at any time. In the event we exercise our rights to terminate our services we shall not be liable for any Loss arising from such termination.
General
The Agreement commences when you submit an application on our website
Our services are provided only to you, the person named in the Application and who accepts these Application Terms and Conditions. You may not assign or transfer any of your rights or obligations under the Agreement except with our written consent.
How to make a complaint
If you have any questions on these terms and conditions, our Disclaimer or our Privacy Policy or you would like to make a complaint. You can contact us in writing at info@bbloans.co.nz. If you are not satisfied with our response to any concern you may have, you can contact our Disputes resolution scheme provider below
Financial Services Complaints LTD
Membership number - FM6504
Company FSP number - FSP1004661