Squirrel Mortgages Limited

“We provide peer-to-peer and wholesale lending services through the Platform. The Platform enables a Borrower to raise finance which is funded by Investors through the Platform.”

“In order to use the Platform, a prospective Investor must apply for membership to the Platform using the online application form. Any person can apply to be a member on their own behalf or on behalf of an entity or trust.”

“The Borrower will be subject to credit checks, including a credit assessment based on the length of current employment, income and earnings, debt servicing and other relevant factors in order to assess the Borrower's creditworthiness. The Borrower will also be subject to verification procedures prior to being accepted as a Borrower on the Platform.”

“In order to help protect against default by Borrowers, we may establish one or more Reserve Funds in relation to Loans made under the Platform. Subject to certain requirements, a Reserve Fund will be used in the event of non-payment and/or default by the Borrower under a Loan Agreement covered by that Reserve Fund from time to time.”

“If a Borrower misses a Loan repayment, they will receive an automated email from us. If the Loan payment is remains outstanding, then we will commence additional activity that is appropriate to the situation.”

“Payment from a Reserve Fund is subject to there being sufficient funds available in that Reserve Fund at the relevant time. Neither we nor the Trustee guarantee that there will be sufficient funds in a Reserve Fund to meet any overdue Loan repayments or any claims in respect of the relevant Reserve Fund (if any) at any time.”

“We deduct a Service Margin from the outstanding Loan balance from gross interest payments made by the Borrower under the Loan Agreement. We may also deduct a Service Margin in relation to your On-Call Account(s) equal to the interest earned on the balance, less such portion of the interest (if any) that we agree you are to retain in accordance with rates published by us from time to time on our website.”

“If you have a query or wish to complain, please contact us at the details set out below. Write to: Squirrel Money Limited PO Box 911254, Victoria Street West Auckland 1142 Email: money@squirrel.co.nz Phone: 0800 21 22 30”

“We maintain an Investor Account in the name of the Trustee with one or more New Zealand registered banks (together, the Investor Account) to receive and hold funds supplied by Investors. The funds in the Investor Account will be held on separate bare trust by the Trustee for each Investor (your On-Call Account).”