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Lending
Lending Terms and Conditions
The Terms and Conditions applicable to your lending contract with Conister Bank Limited will be notified to you as part of the loan agreement documentation provided to you upon the approval of your lending application.
The Terms and Conditions that are relevant to you are dependent upon a number of factors including your country of residence, the lending product and the value of the loan or lease applied for.
To obtain a copy of the Terms and Conditions relevant to your circumstances prior to submitting a loan application, please contact a member of customer services on 01624 694694.
Mortgage Loan Terms & Conditions
CB/MTG/TC/MAR25
Please take a few minutes to read these Terms and Conditions. If you have any questions
please call our Isle of Man office on 01624 694694.
The effective date of these Terms and Conditions is 24th February 2025.
1 Introduction:
Conister Bank Limited (“Conister”) is a private limited company incorporated in the
Isle of Man with number 000738C and has its registered office at Clarendon House,
Victoria Street, Douglas, Isle of Man, IM1 2LN.
Conister is licensed by the Isle of Man Financial Services Authority for its deposit
taking activities.
We may amend these Terms and Conditions by giving You notice in accordance
with Clause 19.1. Any such change will be binding on You.
These Terms and Conditions form part of the legal agreement between You and
Us. Isle of Man Law governs this agreement. Both You and We submit to the non-
exclusive jurisdiction of the courts of the Isle of Man.
In the event that any one or more of the phrases, sentences, clauses or sections
of these Terms and Conditions is declared invalid or unenforceable by any court,
the remainder of the Terms and Conditions shall be valid, and construed as if such
phrases, sentences, clauses or sections had not been inserted.
In these Terms and Conditions certain words and expressions have particular
meanings, details of which are set out at Clause 1.
These Terms and Conditions set out the terms that will apply to Your Mortgage
Loan and, along with the other Mortgage Documents, form the legal agreement
between You and Us. It is important that You read these Terms and Conditions
and all other documents relating to the Mortgage Loan carefully and ensure that
You understand them fully before entering into the Mortgage Loan. If there is
anything in the Mortgage Documents that You do not understand, You should seek
independent legal advice.
Your property may be at risk if You do not make the repayments due in respect of
Your Mortgage Loan.
You should retain a copy of these Terms and Conditions and all other Mortgage
Documents.
1. Definitions
1.1. In these Terms and Conditions, the following terms have the meanings set out below:
Additional Payment means any payment You make to Us in part settlement of Your
Mortgage Loan which is in addition to Your scheduled Monthly Payments.
Bank means Conister Bank Limited or its successors and assigns.
Basic Mortgage Valuation means a valuation of the Property instructed by Us and
conducted for Mortgage purposes to ensure the Property meets lending criteria and
that its value sufficiently covers the amount of the requested Mortgage Loan, which
is a limited inspection, not a full property survey, and should not be relied on as such.
Capital means the total amount of money lent by Us to You pursuant to the
Mortgage Documents, excluding any Interest or other charges which may
accrue during the Term.
Early Repayment Charge means the charge details of which are set out in the
Offer, and which is payable by You upon early repayment of Your Mortgage Loan.
Event of Default has the meaning given in clause 11.
Final Repayment Date means the date specified as such in the Offer.
Fixed Rate Period means the period during which any agreed fixed rate of Interest
applies to the Mortgage Loan, as set out in the Offer.
Follow on Rate means after the initial interest rate period ends, your Mortgage Loan
will automatically transfer to the Follow on Rate, which is a variable rate set at the
lender’s discretion and subject to change.
Interest means interest payable by You to Us under the terms of the Mortgage
Documents which will accrue at an agreed rate during a Fixed Rate Period and at the
Follow on Rate from time to time outside a Fixed Rate Period.
Interest Rate means the amount a lender charges on a Mortgage Loan expressed as a
Percentage.
Know Your Customer (KYC) Information means such information as we consider
necessary to comply with our ‘know your customer’ and other regulatory and statutory
obligations concerning the prevention of money laundering, countering the financing
of terrorism, the prevention of proliferation financing and other areas of financial crime.
Monthly Payments means the sum specified in the Offer (subject to change in
accordance with these Terms and Conditions) comprised of Capital and Interest and
payable by You on the Payment Day each calendar month during the Term.
Mortgage Documents means the application form in which You applied for the
Mortgage Loan, these Terms and Conditions, the Security, any Offer and the Tariff
of Charges.
Mortgage Loan means any and all loans or advances made by Us to You under or
pursuant to the Mortgage Documents. Money lent to You by Us which is secured
by the Security.
Offer means an offer in writing by the Bank to lend money to You.
Payment Day means the day of each month on which We agree with You that
You will make the Monthly Payments, which cannot be the 29th, 30th or 31st.
Property means the property the address of which is set out in paragraph 2 of
the Offer and which is proposed to be purchased or refinanced by You with the
proceeds of the Mortgage Loan.
Security means a deed of conditional bond and security relating to the Property
and granted by You in favour of Us and any other security documents referred to
in the Offer.
Setup Fee means a one-time amount of £499 that is paid to the lender to cover
the cost of arranging the Mortgage Loan.
Tariff of Charges means the Mortgage tariff of charges issued by Us, as amended
from time to time.
Term means the term of Your Mortgage Loan, as specified in the Offer.
Terms and Conditions means the terms and conditions set out in this document.
Tracker Rate Period means the period during which any agreed tracker rate of
Interest applies to the Mortgage Loan, as set out in the Offer.
You or Your means or relates to the person or persons who are the borrowers
under the Mortgage Loan and any other person responsible for discharging such
borrower’s obligations under the Mortgage Documents.
Us or We means the Bank and Our shall be construed accordingly.
2. Interpretation
2.1. These Terms and Conditions supplement and do not replace any terms set out
in an Offer made to You. In the event of a conflict between these Terms and
Conditions and an Offer, the Offer will prevail.
2.2. References to one gender include all genders.
2.3. The singular includes the plural and the plural includes the singular.
2.4. The words “other”, “include”, “including” and “in particular” (or
any similar words or expression) do not limit the generality of any
preceding words and any words which follow them shall not be limited
by any preceding words where a wider interpretation is possible.
2.5. Where there is more than one of You Your obligations are joint and several, which
means that:
2.5.1. All of You are, jointly and individually, responsible for complying with and carrying
out Your obligations under the terms of the Mortgage Documents;
2.5.2. Each of You is responsible for the repayment of the entirety (as opposed to a share
of) the Mortgage Loan and any other sums You owe to Us from time to time;
2.5.3. We may, unless and until You give Us written instructions to the contrary, accept
and act upon instructions in writing from any one of You on behalf of all of You; and
2.5.4. We may issue notices under these Terms and Conditions and other items such as
statements of Your Mortgage Loan to any one of You on behalf of all of You.
3. Agreement
3.1. You agree to carry out Your obligations under the Mortgage Documents.
3.2. We agree to carry out Our obligations under the Mortgage Documents.
4. Offer
An Offer, together with the other Mortgage Documents, will contain the terms
upon which We are prepared to make a Mortgage Loan to You and will remain
open for acceptance until the date of its expiry or lapse set out in the Offer (if any),
unless We withdraw the Offer in writing prior to that date.
5. Security
5.1. You agree to comply with the terms of the Security.
5.2. The Security secures:
5.2.1. The Mortgage Loan;
5.2.2. Any money owed by You to Us under any other agreements or arrangements; and
5.2.3. Any interest, fees, costs or other sums associated with or payable under any of them.
5.3. Upon payment in full of all sums owed by You to Us, We will release the Security,
provided that We may decline to do so where We reasonably believe that the
payment may be avoided (whether as a preference or otherwise).
5.4. In relation to the Security and the Property, You must give Us all documents that
We reasonably request at any time (including share certificates and signed share
transfer forms in respect of any management company shares held by You or any
of You) and We will be entitled to keep them until the Mortgage Loan has been
repaid in full (including all interests, costs, fees and expenses).
6.Payments
6.1. You must repay Your Mortgage Loan (including all capital, interest and costs) in the
manner set out in the Mortgage Documents.
6.2. You agree to pay to Us the Monthly Payments and to pay the full balance of Your
Mortgage Loan (including all capital, interest and costs) by the Final Repayment Date.
6.3. You agree to pay the Monthly Payments by direct debit from a bank account in
Your name (or, where there is more than one of You, the name of at least one of You).
6.4. We may change the amount of Your Monthly Payments at any time. We will advise
You of the date on which the change will take effect, which will be on a date no
earlier than the date on which We provide such advice to You.
6.5. We may make a change referred to in clause 6.4 if:
6.5.1. There is a change in the interest rate applicable to Your Mortgage Loan;
6.5.2. There is a change to your Payment Day;
6.5.3. The capital balance of Your Mortgage Loan increases for any reason, including You
drawing down a further sum;
6.5.4. The outstanding capital amount of your Mortgage Loan decreases for any reason
(other than as a result of a Monthly Payment), including You making an Additional
Payment; and
6.5.5. Any concession, agreement or arrangement between Us and You in relation to
the deferral, cancellation or reduction of the payment of any interest or capital
commences, is amended, or ends.
7. Payment Day
7.1. If You have a preferred Payment Day, You should let Us know as soon as possible.
7.2. We will notify You of the Payment Day not less than 14 days prior to the date on
which the first of Your Monthly Payments is due.
7.3. To request a change to Your Payment Day, You must give Us not less than 28 days
prior notice in writing. Changing Your Payment Day may result in a change to the
amount of Your Monthly Payments.
7.4. We may change the Payment Day at any time.
7.5. Where there is a change to Your Payment Day, We will confirm the new Payment
Day and any change to the amount of your Monthly Payments in writing to You.
8. Additional Payments
8.1. You may make Additional Payments if You are expressly permitted to do so by, and
in accordance with, the Offer.
8.2. Any Additional Payment paid in accordance with the Offer will reduce the balance
of your Mortgage Loan, and therefore the amount of interest You are charged, with
effect from the day We receive it as cleared funds.
9. Early repayment charge
In the event that You repay Your Mortgage Loan before the Final Repayment
Date, an Early Repayment Charge may be payable. Full details of any such Early
Repayment Charge are set out in the Offer.
10. Interest
Interest will be charged on the full balance of Your Mortgage Loan at the rate and
on the terms set out in the Offer.
11. Events of Default
11.1. The occurrence of any of the following shall be an Event of Default:
11.1.1. Any sum due under the Mortgage Documents is not paid within 60 calendar days
of the date on which it was due for payment;
11.1.2. You (or any of You) are in breach of any obligation under any of the Mortgage
Documents and either:
11.1.2.1. You fail to remedy that breach within 7 days of Us giving You notice requiring You
to do so;
11.1.2.2.We reasonably consider that the breach is not capable of being remedied; or
11.1.2.3. We reasonably consider that the breach makes it more likely that either You will
be unable to pay or We will be unable to recover the sums due to Us under the
Mortgage Documents.
11.2. Upon the occurrence of an Event of Default, We may give You notice requiring
You to immediately repay Your Mortgage Loan in full (including all fees, costs and
interest).
11.3. Following the occurrence of an Event of Default, We may set off any sum We owe
to You (including sums You (or any of You) hold in an account with Us) against the
sums owed by You to Us under the Mortgage Loan.
12. Fees
12.1. The fees set out in the Tariff of Charges will be payable in relation to the Mortgage
Loan. You confirm that You have reviewed and agree to the Tariff of Charges.
12.2. In addition, We may charge You a fee to recover any costs or other expenses We
incur in relation to the Mortgage Loan or the Mortgage Documents including in
connection with:
12.2.1. Recovering any sums You owe to Us under the Mortgage Documents;
12.2.2. The protection or enforcement of Our Security;
12.2.3. Any legal proceedings in relation to the Mortgage Loan or the Mortgage
Documents; or
12.2.4. Us carrying out any obligation of Yours under the Mortgage Documents where We
reasonably believe that You have failed to do so or failed to do so sufficiently or satisfactorily.
13. Your obligations in relation to the Property
13.1. Until the Mortgage Loan is repaid in full, You must:
13.1.1. Keep the Property in good repair;
13.1.2. Rebuild the Property where necessary;
13.1.3. Make sure that any unfinished building works on or at the Property are completed
without delay and to a good standard;
13.1.4. Comply with all covenants, agreements and statutory obligations regarding the
Property;
13.1.5. Promptly pay any rent, rent charges, service charges, rates, taxes and other charges
payable in respect of the Property;
13.1.6. Promptly pay all sums payable by the owner or occupier of the Property;
13.1.7. Give Us full details in writing of any claim, notice of proceedings or other notice
affecting the Property within 7 days of receipt;
13.1.8. Not carry out or permit any third party to carry out any unlawful or criminal activity
at the Property; and
13.1.9. Promptly give Us any information about the Property which We reasonably ask for.
14. Buy to let prohibited
14.1. We do not offer buy to let Mortgages. You must occupy the whole Property on
completion and throughout the term of the Mortgage Loan.
14.2. If You let the whole or any part of the Property, or otherwise cease to occupy the
Property, during the Term:
14.2.1. You will be in breach of the Mortgage Documents;
14.2.2.You must inform Us immediately;
14.2.3. An additional interest charge of an amount to be determined by Us in Our absolute
discretion but being not less than 1.5% per annum will, with immediate effect and until
such time as Your Mortgage Loan is repaid in full, be applicable to Your Mortgage
Loan (in addition to the other interest sums referred to in the Mortgage Documents);
14.2.4. You will be required to refinance Your Mortgage Loan with another provider as
soon as possible and in any event at the end of the applicable Fixed Rate Period or
Tracker Rate Period;
14.2.5. We may require You to provide additional information and confirmations to Us in
respect of matters such as the Property’s safety, insurance and Your compliance
with Your legal obligations; and
14.2.6. Your obligation to keep the Property insured will be unaffected.
15. Further assurance
You agree to do anything We reasonably consider necessary, including executing
any document, in order to give full effect to the agreement between You and Us
set out in the Mortgage Documents or to enable Us to exercise the rights granted
to Us by the Mortgage Documents.
16. Power of Attorney
16.1. You, and, if there is more than one of You, each of You, irrevocably appoint Us as
Your attorney to in Your name and on Your behalf sign and deliver and otherwise
perfect any deed, assurance, agreement, instrument or act which We and/or any
receiver may think fit:
16.1.1. In the exercise of any powers or in respect of any of Your obligations under the
Mortgage Documents;
16.1.2.To enable Us to effectively exercise the rights granted to Us by the Mortgage Documents;
16.1.3. In the making of any payments (whether by way of payment of rent or service
charges or other money payable under a lease or otherwise);
16.1.4. In effecting or renewing insurance;
16.1.5. In carrying out works at any property;
16.1.6. In doing other things or bringing, settling or defending any proceedings (including
forfeiture proceedings) in Your name and at Your expense;
16.1.7. To make good or preserve Your title to any property;
16.1.8. To make good or preserve Our Security; or
16.1.9. To receive any money due to You in relation to any property referred to in the
Security and to use such money to reduce Your debt under the Mortgage Loan.
16.2. Where there is more than one of You, the power of attorney at clause 16.1 allows Us
to act for any one of You or for all of You.
17. Continuing security
The Security is a continuing security and shall remain in force and effect regardless of
any change in Your circumstances, including if You die, are deemed mentally incapable,
or are declared bankrupt.
18. Transfer
18.1. You agree that We may transfer Our rights and obligations under the Mortgage
Documents to any person at any time and that, following such a transfer, the person to
whom We have transferred them will have the ability to enforce the rights in the same
way as We could prior to the transfer. You agree to Us releasing information about You
and the Mortgage Loan to any potential transferee.
18.2. You may not transfer Your rights or obligations under the Mortgage Documents under
any circumstances.
19. General
19.1. We may vary these Terms and Conditions where We reasonably believe that a change
is necessary:
19.1.1. To reflect a change in a relevant law, regulation or code of practice, or a judgment,
decision, requirement or recommendation of a Court, regulator or other similar body;
19.1.2. As a result of Our business being sold to or acquiring another business; or
19.1.3. To enable Us to provide enhanced services to You.
19.2. Where We make a variation under clause 19.1 We will give You not less than 28 days’
prior notice in writing.
19.3. The Contracts (Rights of Third Parties) Act 2001 does not apply to these Terms and
Conditions or the Mortgage Documents.
19.4. A failure or delay in Us or You exercising any right or remedy under the Mortgage
Documents shall not constitute a waiver of that right or remedy. A single or partial
exercise by Us or You of any such right or remedy shall not prevent the further exercise
of that right or remedy. A waiver of a breach of any term of any Mortgage Document
shall not constitute a waiver of any other breach.
19.5. In the event that any provision of these Terms and Conditions or the Mortgage
Documents is deemed unenforceable, it shall not affect the enforceability of the other
provisions of these Terms and Conditions or the relevant Mortgage Documents (as
applicable).
20. Complaints
20.1. We have written procedures for handling complaints fairly and promptly, which are
available upon request. If you have a complaint please contact us by post, phone,
email or in person with the details.
20.2. Upon receipt of your complaint We will write to You sending a copy of Our
complaints procedure and to inform You that an independent member of staff
has been appointed to investigate and respond to You as soon as possible. If
Your complaint is not resolved in a timely or satisfactory manner, and if You are
an eligible complainant, You may be able to refer Your complaint to the Isle of
Man Financial Services Ombudsman Scheme who can be contacted at: Post:
The Isle of Man Financial Services Ombudsman, Thie Slieau Whallian, Foxdale
Road, St John’s Isle of Man, IM4 3AS; Tel: +44 1624 686500; Email: ombudsman@
Iomoft.gov.im.
21. Notices
21.1. Any notice or other communication given by a party under these Terms and
Conditions or any Mortgage Documents shall be:
21.1.1. In writing and in English;
21.1.2. Signed by, or on behalf of, the party giving it; and
21.1.3. Sent to:
21.1.3.1. You, prior to drawdown of the Mortgage Loan, at Your address as set out in the Offer;
21.1.3.2.You, following drawdown of the Mortgage Loan at the Property; and
21.1.3.3.Us at Our registered office from time to time, or to such other postal address as
may be designated for receipt of notices and notified by one party to the other
party in accordance with this clause.
21.2. Notices may be given, and are deemed received:
21.2.1. By hand: on delivery; or
21.2.2. By pre-paid post: at 9:00 am on the first day which is not less than two days after
posting and is not a weekend or a public holiday in the Isle of Man.
21.3. All references to time are to the local time at the place of deemed receipt.
21.4. This clause does not apply to notices given in legal proceedings, arbitration or
other dispute resolution proceedings.
21.5. A notice given under these Terms and Conditions or any Mortgage Document is
not validly served if sent by fax or email.
22. Governing law and jurisdiction
These Terms and Conditions and the Mortgage Documents shall be governed by
and construed in accordance with the laws of the Isle of Man. You and Us agree
that the Isle of Man Courts shall have non-exclusive jurisdiction to settle any dispute
arising from any of the Mortgage Documents or the Mortgage Loan.
Conister Bank Limited. Registered in the Isle of Man No. 000738C. Registered Office: Clarendon House, Victoria Street, Douglas, Isle of Man, IM1 2LN. Conister Bank Limited is Licenced by the Isle of Man Financial Services Authority for its deposit taking. All loans are subject to status. Terms and conditions apply. An acceptance fee will be charged. Property used to secure a loan could be at risk and may be repossessed if you do not keep up your repayments.
To find out more:
Call us on +44 (0) 1624 694694 or visit us at www.conisterbank.co.im
CB/MTG/TC/MAR25
Bridging Loan Terms and Conditions
Please take a few minutes to read these Conditions. If you have any questions
please call our Isle of Man office on 01624 694694.
These Terms and Conditions come into effect on 11th March 2025.
1 Introduction:
Conister Bank Limited (“Conister”) is a private limited company incorporated in the
Isle of Man with number 000738C and has its registered office at Clarendon House,
Victoria Street, Douglas, Isle of Man, IM1 2LN. Conister is licensed by the Isle of Man
Financial Services Authority for its deposit taking activities.
In these Conditions certain words and expressions have particular meanings,
details of which are set out at clause 1.
These Conditions set out the terms that will apply to Your Bridging Loan and,
along with the other Bridging Loan Documents form the legal agreement
between You and Us. It is important that You read these Conditions and all
other documents relating to the Bridging Loan carefully and ensure that You
understand them fully before entering into the Bridging Loan. If there is anything
in the Bridging Loan Documents that You do not understand, You should seek
independent legal advice.
Your property may be at risk if You do not make the repayments due in respect
of Your Bridging Loan.
You should retain a copy of these Conditions and all other Bridging Loan Documents.
1. Definitions
1.1. In these Terms and Conditions, the following terms have the meanings set out below:
Bank means Conister Bank Limited or its successors and assigns.
Bridging Loan means the bridging loan described in the Offer Letter to be lent by
Us to You on the terms set out in the Bridging Loan Documents and secured by the
Security.
Bridging Loan Documents means the application form in which you applied for the
Bridging Loan, the Offer Letter, these Conditions and the Security.
Conditions or Bridging Loan Terms and Conditions means the terms and
conditions set out in this document.
Early Repayment Fee means the fee, details of which are set out in clause 8, and
which is payable by You upon early repayment of Your Bridging Loan.
Event of Default has the meaning given in clause 10.
Final Repayment Date means the date specified in the Offer Letter when You must
repay the Bridging Loan Amount in full.
Know Your Customer (KYC) Information means such information as we consider
necessary to comply with our ‘know your customer’ and other regulatory and
statutory obligations concerning the prevention of money laundering, countering
the financing of terrorism, the prevention of proliferation financing and other areas
of financial crime.
Monthly Payments means the payment of interest specified in the Offer Letter on
the Payment Day of each calendar month during the Term.
Offer Letter means the letter from Us to You containing the offer of the Bridging Loan.
Payment Day means the day of each month on which We agree with you that You
will make the Monthly Payments, which cannot be the 29th, 30th or 31st.
Security means a deed of conditional bond and security relating to a property in
the Isle of Man owned by You and granted by You in favour of Us and any other
security documents referred to in the Offer Letter.
Term means the term of Your Bridging Loan, as specified in the Offer Letter.
Us or We the Bank and its successors or assigns.
You or Your means or relates to the person or persons who are the
borrowers under the Bridging Loan and any other person responsible for
discharging such borrower’s obligations under the Bridging Loan Documents.
2. Interpretation
2.1. These Conditions supplement and do not replace any terms set out in the Offer
Letter made to You. In the event of a conflict between these Conditions and the
Offer Letter, the Offer Letter will prevail.
2.2. References to one gender include all genders.
2.3. The singular includes the plural and the plural includes the singular.
2.4. The words “other”, “include”, “including” and “in particular” (or any similar words
or expression) do not limit the generality of any preceding words and any words
which follow them shall not be limited by any preceding words where a wider
interpretation is possible.
2.5. Where there is more than one of You:
2.5.1. All of You are, jointly and individually, responsible for complying with and carrying
out Your obligations under the terms of the Bridging Loan Documents;
2.5.2. Each of You is responsible for the repayment of the entirety (as opposed to a share
of) the Bridging Loan and any other sums You owe to Us from time to time;
2.5.3. We may, unless and until You give us written instructions to the contrary, accept
and act upon instructions in writing from any one of You on behalf of all of You; and
2.5.4. We may issue notices under these Conditions and other items such as statements
of Your Bridging Loan to any one of You on behalf of all of You.
3. Agreement
3.1. You agree to carry out Your obligations under the Bridging Loan Documents.
3.2. We agree to carry out Our obligations under the Bridging Loan Documents.
4. Offer
4.1. The Offer Letter, together with the other Bridging Loan Documents, will contain the
terms upon which We are prepared to make a Bridging Loan to You and will remain
open for acceptance until the date of its expiry or lapse set out in the Offer Letter,
unless we withdraw the offer contained in the Offer Letter in writing prior to that date.
5. Security
5.1. You agree to comply with the terms of the Security.
5.2. The Security secures:
5.2.1. The Bridging Loan;
5.2.2. Any money owed by You to Us under any other agreements or arrangements; and
5.2.3. Any interest, fees, costs or other sums associated with or payable under any of them.
5.3. Upon payment in full of all sums owed by You to Us, we will release the Security,
provided that We may decline to do so where We reasonably believe that the
payment may be avoided (whether as a preference or otherwise).
5.4. In relation to the Security and the property, You must give Us all documents that
We reasonably request (including share certificates and signed share transfer forms
in respect of any management company shares held by You or any of You) and
We will be entitled to keep them until the Bridging Loan has been repaid in full
(including all interests, costs, fees and expenses).
6. Payments
6.1. You must repay Your Bridging Loan (including all capital, interest and costs) in the
manner set out in the Bridging Loan Documents.
6.2. You agree to pay to us the Monthly Payments and to pay the full balance of Your
Bridging Loan (including all capital, interest and costs) on or before the Final
Repayment Date.
6.3. You agree to pay the Monthly Payments by direct debit, or by such other method
as We shall reasonably require by giving 28 days’ notice to You.
6.4. We may change the amount of Your Monthly Payments at any time. We do not
need to give prior notice to You of such a change, but will advise You of the date
on which the change will take effect, which will be on a date no earlier than the
date on which We provide such advice to you.
6.5. We may make a change referred to in clause 6.4 if:
6.5.1. There is a change in the interest rate applicable to Your Mortgage Loan;
6.5.2. There is a change to your Payment Day;
6.5.3. The capital balance of Your Bridging Loan increases for any reason, including You
drawing down a further sum; and
6.5.4. Any concession, agreement or arrangement between Us and You in relation to
the deferral, cancellation or reduction of the payment of any interest or capital
commences, is amended, or ends.
7. Payment Day
7.1. If You have a preferred Payment Day, You should let us know as soon as possible.
7.2. We will notify You of the Payment Day not less than 14 days prior to the date on
which the first of Your Monthly Payments is due.
7.3. To request a change to Your Payment Day, you must give us not less than 28 days
prior notice in writing. Changing Your Payment Day may result in a change to the
amount of Your Monthly Payments.
7.4. We may change the Payment Day at any time.
7.5. Where there is a change to Your Payment Day, We will confirm the new Payment
Day and any change to the amount of your Monthly Payments in writing to You.
8. Early Repayment Fee
8.1. In the event that You repay Your Bridging Loan before the Final Repayment Date, an
Early Repayment Fee will be payable. This will be 2 months interest.
9. Interest
9.1. Interest will be charged on the full balance of Your Bridging Loan at the rate and on
the terms set out in the Offer Letter.
10. Events of Default
10.1. The occurrence of any of the following shall be an Event of Default:
10.1.1. Any sum due under the Bridging Loan Documents is not paid within 45 days of the
date on which it was due for payment;
10.1.2. You (or any of You) are in breach of any obligation under any of the Bridging Loan
Documents and:
10.1.2.1. You fail to remedy that breach within 7 days of Us giving You notice requiring You
to do so;
10.1.2.2We reasonably consider that the breach is not capable of being remedied; or
10.1.2.3.We reasonably consider that the breach makes it less likely that either You will
be able to pay or that We will be able to recover the sums due to Us under the
Bridging Loan Documents.
10.2. Upon the occurrence of an Event of Default, We may give You notice requiring
You to immediately repay Your Bridging Loan in full (including all fees, costs and
interest).
10.3. Following the occurrence of an Event of Default, We may set off any sum We owe
to you (including sums You (or any of You) hold in an account with Us) against the
sums owed by You to Us under the Bridging Loan.
11. Fees
11.1. The fees set out in the Offer Letter will be payable in relation to the Bridging Loan.
11.2. In addition, We may charge You a fee to recover any costs or other expenses We
incur in relation to the Bridging Loan or the Bridging Loan Documents including in
connection with:
11.2.1. Recovering any sums You owe to Us under the Bridging Loan Documents;
11.2.2. The protection or enforcement of Our Security;
11.2.3. Any legal proceedings in relation to the Bridging Loan or the Bridging Loan
Documents; or
11.2.4. Us carrying out any obligation of Yours under the Bridging Loan Documents where
We reasonably believe that You have failed to do so or failed to do so sufficiently
or satisfactorily.
12. Your obligations in relation to the Property
12.1. Until the Bridging Loan is repaid in full, You must:
12.1.1. Keep the Property in good repair (unless You notified Us prior to Us offering You
the Bridging Loan that the Property is not in good repair. In such circumstance You
must comply with any special conditions set out in the Offer Letter relating to the
condition and repair of the Property);
12.1.2. Rebuild or repair the Property where necessary to comply with this clause 12;
12.1.3. Make sure that any unfinished building works on or at the Property are completed
without delay and to a good standard;
12.1.4. Comply with all covenants, agreements and statutory obligations regarding the
Property;
12.1.5. Promptly pay any rent, rent charges, service charges, rates, taxes and other charges
payable in respect of the Property;
12.1.6. Give us full details in writing of any claim, notice of proceedings or other notice
affecting the Property within 7 days of receipt;
12.1.7. Not carry out or permit any third party to carry out any unlawful or criminal activity
at the Property; and
12.1.8. Promptly give us any information about the Property which we reasonably ask for.
13. Buy to let prohibited
13.1. We do not offer buy to let mortgages. You must not let the whole or any part of the
Property during the Term.
13.2. If You let the whole or any part of the Property during the Term:
13.2.1. You will be in breach of the Bridging Loan Documents;
13.2.2. You must inform Us immediately;
13.2.3. An additional interest charge of an amount to be determined by Us in our absolute
discretion but being not less than 1.5% per annum will, with immediate effect
and until such time as Your Bridging Loan is repaid in full, be applicable to Your
Bridging Loan (in addition to the other interest sums referred to in the Bridging Loan
Documents);
13.2.4. You will be required to refinance Your Bridging Loan with another provider as soon
as possible;
13.2.5. We may require You to provide additional information and confirmations to Us in
respect of matters such as the Property’s safety, insurance and compliance with
Your legal obligations; and
13.2.6. Your obligation to keep the Property insured will be unaffected.
14. Further assurance
You agree to do anything We reasonably consider necessary, including executing
any document, in order to give full effect to the agreement between You and
Us set out in the Bridging Loan Documents or to enable Us to exercise the rights
granted to Us by the Bridging Loan Documents.
15. Power of Attorney
15.1. You and if there is more than one of You, each of You, irrevocably appoint Us as
Your attorney to in Your name and on Your behalf sign and deliver and otherwise
perfect any deed, assurance, agreement, instrument or act which We and/or any
receiver may think fit:
15.1.1. In the exercise of any powers or in respect of any of Your obligations under the
Bridging Loan Documents;
15.1.2. To enable Us to effectively exercise the rights granted to Us by the Bridging Loan
Documents;
15.1.3. In the making of any payments (whether by way of payment of rent or service
charges or other money payable under a lease or otherwise);
15.1.4. In effecting or renewing insurance;
15.1.5. In carrying out works;
15.1.6. In doing other things or bringing, settling or defending any proceedings (including
forfeiture proceedings) in Your name and at Your expense;
15.1.7. To make good or preserve Your title to any property;
15.1.8. To make good or preserve Our Security; or
15.1.9. To receive any money due to You in relation to any property referred to in the
Security and to use such money to reduce Your debt under the Bridging Loan.
15.2. Where there is more than one of You, the power of attorney at clause 15.1 allows Us
to act for any one of You or for all of You.
16. Continuing security
The Security is a continuing security and shall remain in force and effect regardless
of any change in Your circumstances, including if You die, are deemed mentally
incapable, or are declared bankrupt.
17. Transfer
17.1. You agree that We may transfer Our rights and obligations under the Bridging Loan
Documents to any person at any time and that, following such a transfer, the person
to whom We have transferred them will have the ability to enforce the rights in the
same way as We could prior to the transfer. You agree to us releasing information
about You and the Bridging Loan to any potential transferee.
17.2. You may not transfer Your rights or obligations under the Bridging Loan Documents
under any circumstances.
18. General
18.1. We may vary these Conditions where We reasonably believe that a change is
necessary:
18.1.1. To reflect a change in a relevant law, regulation or code of practice, or a judgment,
decision, requirement or recommendation of a Court, regulator or other similar
body;
18.1.2. As a result of our business being sold to or acquiring another business; or
18.1.3. To enable Us to provide enhanced services to You.
18.2. Where we make a variation under clause 18.1 we will give You not less than 28 days’
prior notice in writing.
18.3. The Contracts (Rights of Third Parties) Act 2001 does not apply to these Conditions
or the Bridging Loan Documents.
18.4. A failure or delay in Us or You exercising any right or remedy under the Bridging
Loan Documents shall not constitute a waiver of that right or remedy. A single or
partial exercise by Us or You of any such right or remedy shall not prevent the
further exercise of that right or remedy. A waiver of a breach of any term of any
Bridging Loan Document shall not constitute a waiver of any other breach.
18.5. In the event that any provision of these Conditions or the Bridging Loan Documents
is deemed unenforceable, it shall not affect the enforceability of the other provisions
of these Conditions or the relevant Bridging Loan Documents (as applicable).
19. Notices
19.1. Any notice or other communication given to You by Us, or given by You to Us, under
or in connection with the Bridging Loan Documents shall be: (A) in writing; and (B)
delivered by hand, by pre-paid post or other next day delivery service, and sent
to either You at the home address you provide to us, or to Us at Clarendon House,
Victoria Street, Douglas, IM1 2LN (for the attention of [•]) as appropriate, or to any
other address as is notified in writing by one party to the other from time to time.
19.2. Any notice or other communication that We give to You under or in connection
with the Bridging Loan Documents shall be deemed to have been received: (A)
if delivered by hand, at the time it is left at the relevant address; and (B) if posted
by pre-paid post or other next day delivery service, on the second business day
after posting. A business day is any day other than a Saturday, a Sunday or a public
holiday in the Isle of Man.
19.3. Any notice or other communication given by You to Us shall be deemed to have
been received only on actual receipt.
20. Governing law and jurisdiction
These Conditions and the Bridging Loan Documents shall be governed by and
construed in accordance with the laws of the Isle of Man. You and Us agree that
the Isle of Man Courts shall have exclusive jurisdiction to settle any dispute arising
from any of the Bridging Loan Documents or the Bridging Loan.
21. Complaints
21.1 We have written procedures for handling complaints fairly and promptly, which are
available upon request. If you have a complaint please contact us by post, phone,
email or in person with the details.
21.2 Upon receipt of your complaint We will write to You sending a copy of Our
complaints procedure and to inform You that an independent member of staff has
been appointed to investigate and respond to You as soon as possible. If You are
unable to resolve your complaint in a timely or satisfactory manner, and if You are
an eligible complainant, You may be able to refer Your complaint to the Isle of Man
Financial Services Ombudsman Scheme who can be contacted at: Post: The Isle of
Man Financial Services Ombudsman, Thie Slieau Whallian, Foxdale Road, St John’s
Isle of Man, IM4 3AS; Tel: +44 1624 686500; Email: ombudsman@iomoft.gov.im.
Conister Bank Limited. Registered in the Isle of Man No. 000738C. Registered Office: Clarendon House, Victoria Street, Douglas, Isle of Man, IM1 2LN. Conister Bank Limited is Licenced by the Isle of Man Financial Services Authority for its deposit taking. All loans are subject to status. Terms and conditions apply. An acceptance fee will be charged. Property used to secure a loan could be at risk and may be repossessed if you do not keep up your repayments.
To find out more:
Call us on +44 (0) 1624 694694 or visit us at www.conisterbank.co.im
CB/BL/TC/AUG25
Commercial Mortgage Terms and Conditions
CB/MTG/OL/FEB26
Introduction
Conister Bank Limited (“Conister”) is a private limited company incorporated in the Isle of Man with number 000738C
and has its registered office at Clarendon House, Victoria Street, Douglas, Isle of Man, IM1 2LN.
Conister is licensed by the Isle of Man Financial Services Authority for its deposit taking activities.
We may amend these Terms and Conditions by giving You notice in accordance with Clause 20.1 Any such change
will be binding on You.
These Terms and Conditions form part of the legal agreement between You and Us. Isle of Man Law governs this
agreement. Both You and We submit to the non-exclusive jurisdiction of the courts of the Isle of Man.
In the event that any one or more of the phrases, sentences, clauses or sections of these Terms and Conditions
is declared invalid or unenforceable by any court, the remainder of the Terms and Conditions shall be valid, and
construed as if such phrases, sentences, clauses or sections had not been inserted.
In these Terms and Conditions certain words and expressions have particular meanings, details of which are set out
at Clause 1.
These Terms and Conditions set out the terms that will apply to Your Mortgage Loan and, along with the other
Mortgage Documents, form the legal agreement between You and Us. It is important that You read these Terms
and Conditions and all other documents relating to the Mortgage Loan carefully and ensure that You understand
them fully before entering into the Mortgage Loan. If there is anything in the Mortgage Documents that You do not
understand, You should seek independent legal advice.
Your property may be at risk if You do not make the repayments due in respect of Your Mortgage Loan.
You should retain a copy of these Terms and Conditions and all other Mortgage Documents.
Commercial Mortgage Terms and Conditions 1
1. Definitions
In these Terms and Conditions, the following terms have the meanings set out below:
Additional Payment means any payment You make to Us in part settlement of Your Mortgage Loan which is in addition to Your scheduled Monthly Payments.
Bank means Conister Bank Limited or its successors and assigns.
Capital means the total amount of money lent by Us to You pursuant to the Mortgage Documents, excluding any Interest or other charges which may accrue during the Term.
Early Repayment Charge means the charge details of which are set out in the Offer, and which is payable by You upon early repayment of Your Mortgage Loan.
Event of Default has the meaning given in clause 12.
Final Repayment Date means the date specified as such in the Offer.
Fixed Rate Period means the period during which any agreed fixed rate of Interest applies to the Mortgage Loan, as set out in the Offer.
Follow-on Rate means after the initial interest rate period ends, your Mortgage Loan will automatically transfer to the Follow-on Rate, which is a variable rate set at the lender’s discretion and subject to change.
Interest means interest payable by You to Us under the terms of the Mortgage Documents which will accrue at an agreed rate during a Fixed Rate Period and at the Follow-on Rate from time to time outside a Fixed Rate Period.
Interest Rate means the amount a lender charges on a Mortgage Loan expressed as a percentage.
Know Your Customer (KYC) Information means such information as we consider necessary to comply with our ‘know your customer’ and other regulatory and statutory obligations concerning the prevention of money laundering, countering the financing of terrorism, the prevention of proliferation financing and other areas of financial crime.
Monthly Payments means the sum specified in the Offer (subject to change in accordance with theseTerms and Conditions) comprised of Capital and Interest and payable by You on the Payment Day each calendar month during the Term.
Mortgage Documents means the application form in which You applied for the Mortgage Loan, these Terms and Conditions, the Security and any Offer.
Mortgage Loan means any and all loans or advances made by Us to You under or pursuant to the Mortgage Documents. Money lent to You by Us which is secured by the Security.
Offer means an offer in writing by the Bank to lend money to You.
Payment Day means the day of each month on which We agree with You that You will make the Monthly Payments, which cannot be the 29th, 30th or 31st.
Property means the property the address of which is set out in paragraph 2 of the Offer and which is proposed to be purchased or refinanced by You with the proceeds of the Mortgage Loan.
Security means a deed of conditional bond and security or legal charge relating to the Property and granted by You in favour of Us, [the debenture granted by You in favour of Us] and any other security documents referred to in the Offer.
Term means the term of Your Mortgage Loan, as specified in the Offer.
Terms and Conditions means the terms and conditions set out in this document.
Tracker Rate Period means the period during which any agreed tracker rate of Interest applies to the Mortgage Loan, as set out in the Offer.
Valuation means a valuation of the Property instructed by Us and conducted for Mortgage purposes to ensure the Property meets lending criteria and that its value sufficiently covers the amount of the requested Mortgage Loan, which is a limited inspection, not a full property survey, and should not be relied on as such.
You or Your means or relates to the person or persons who are the borrowers under the Mortgage Loan and any other person responsible for discharging such borrower’s obligations under the Mortgage Documents.
Us or We means the Bank and Our shall be construed accordingly.
2. Interpretation
2.1. These Terms and Conditions supplement and do not replace any terms set out in an Offer made to You. In
the event of a conflict between these Terms and Conditions and an Offer, the Offer will prevail.
2.2. References to one gender include all genders.
2.3. The singular includes the plural and the plural includes the singular.
2.4. The words “other”, “include”, “including” and “in particular” (or any similar words or expression) do not
limit the generality of any preceding words and any words which follow them shall not be limited by any
preceding words where a wider interpretation is possible.
2.5. Where there is more than one of You Your obligations are joint and several, which means that:
2.5.1. all of You are, jointly and individually, responsible for complying with and carrying out Your obligations under
the terms of the Mortgage Documents;
2.5.2. each of You is responsible for the repayment of the entirety (as opposed to a share of) the Mortgage Loan
and any other sums You owe to Us from time to time;
2.5.3. We may, unless and until You give Us written instructions to the contrary, accept and act upon instructions in
writing from any one of You on behalf of all of You; and
2.5.4. We may issue notices under these Terms and Conditions and other items such as statements of Your
Mortgage Loan to any one of You on behalf of all of You.
3. Agreement
3.1. You agree to carry out Your obligations under the Mortgage Documents.
3.2. We agree to carry out Our obligations under the Mortgage Documents.
4. Offer
An Offer, together with the other Mortgage Documents, will contain the terms upon which We are prepared
to make a Mortgage Loan to You and will remain open for acceptance until the date of its expiry or lapse set
out in the Offer (if any), unless We withdraw the Offer in writing prior to that date.
5. Security
5.1. You agree to comply with the terms of the Security.
5.2. The Security secures:
5.2.1. the Mortgage Loan;
5.2.2. any money owed by You to Us under any other agreements or arrangements; and
5.2.3. any interest, fees, costs or other sums associated with or payable under any of them.
5.3. Upon payment in full of all sums owed by You to Us, We will release the Security, provided that We may
decline to do so where We reasonably believe that the payment may be avoided (whether as a preference
or otherwise).
5.4. In relation to the Security and the Property, You must give Us all documents that We reasonably request
at any time (including share certificates and signed share transfer forms in respect of any management
company shares held by You or any of You) and We will be entitled to keep them until the Mortgage Loan
has been repaid in full (including all interests, costs, fees and expenses).
5.5 You agree to register the Security as a first-ranking charge over the Property and agree to register the
Security within the applicable timeframes in order to permit priority registration of the Security with each of:
5.5.1. the Isle of Man Land Registry;
5.5.2. the Isle of Man Deeds Registry; and
5.5.3. the companies registry in Your jurisdiction of incorporation.
6. Payments
6.1. You must repay Your Mortgage Loan (including all capital, interest and costs) in the manner set out in the
Mortgage Documents.
6.2. You agree to pay to Us the Monthly Payments and to pay the full balance of Your Mortgage Loan (including
all capital, interest and costs) by the Final Repayment Date
6.3. You agree to pay the Monthly Payments by direct debit from a bank account in Your name (or, where there
is more than one of You, the name of at least one of You).
6.4. We may change the amount of Your Monthly Payments at any time. We will advise You of the date on which
the change will take effect, which will be on a date no earlier than the date on which We provide such
advice to You.
6.5. We may make a change referred to in clause 6.4 if:
6.5.1. there is a change in the interest rate applicable to Your Mortgage Loan;
6.5.2. there is a change to your Payment Day;
6.5.3. the capital balance of Your Mortgage Loan increases for any reason, including You drawing down a further
sum;
6.5.4. the outstanding capital amount of your Mortgage Loan decreases for any reason (other than as a result of a
Monthly Payment), including You making an Additional Payment; and
6.5.5. any concession, agreement or arrangement between Us and You in relation to the deferral, cancellation or
reduction of the payment of any interest or capital commences, is amended, or ends.
7. Payment Day
7.1. If You have a preferred Payment Day, You should let Us know as soon as possible.
7.2. We will notify You of the Payment Day not less than 14 days prior to the date on which the first of Your
Monthly Payments is due.
7.3. To request a change to Your Payment Day, You must give Us not less than 28 days prior notice in writing.
Changing Your Payment Day may result in a change to the amount of Your Monthly Payments.
7.4. We may change the Payment Day at any time.
7.5. Where there is a change to Your Payment Day, We will confirm the new Payment Day and any change to the
amount of your Monthly Payments in writing to You.
8. Additional Payments
8.1. You may make Additional Payments if You are expressly permitted to do so by, and in accordance with, the
Offer.
8.2. Any Additional Payment paid in accordance with the Offer will reduce the balance of your Mortgage Loan,
and therefore the amount of interest You are charged, with effect from the day We receive it as cleared
funds.
9. Early repayment charge
In the event that You repay Your Mortgage Loan before the Final Repayment Date, an Early Repayment
Charge may be payable. Full details of any such Early Repayment Charge are set out in the Offer.
10. Interest
Interest will be charged on the full balance of Your Mortgage Loan at the rate and on the terms set out in the
Offer.
11. Representations and Warranties
11.1. You represent and warrant to Us that:
11.1.1 You are a [company duly incorporated] [a limited partnership duly constituted] and validly existing under the
laws of its jurisdiction of incorporation and have the corporate power to own Your assets and carry on Your
business as it is being conducted
11.1.2. You have the power to enter into, perform and deliver and have taken all necessary corporate action to
authorise entry into, performance and delivery of these Terms and Conditions and each of the Mortgage
Documents;
11.1.3. the obligations expressed to be assumed by You under these Terms and Conditions and the Mortgage
Documents are legal, valid, binding and enforceable obligations;
11.1.4. the entry into and performance of and the transactions contemplated by these Terms and Conditions or the
Mortgage Documents shall not:
(a) result in a breach of, or constitute a default under any instrument by which You are bound or result in a
breach of Your constitutional documents; or
(b) conflict with or result in any law, judgment, order or regulation of any court or governmental or
administrative agency;
11.1.5. You have obtained all necessary authorisations to enable You to enter into, perform and delivery of these
Terms and Conditions and the Mortgage Documents and all authorisations are in full force and effect;
11.1.6 You are not insolvent and that no petition has been presented, application made, order granted, resolution
passed or any other step taken for Your winding up, dissolution, administration or re-organisation and no
receiver, administrator, liquidator or similar office has been appointed in respect of your assets; and
11.1.7. No litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency are
current, or to the best of Your knowledge are pending or threatened against You.
12. Events of Default
12.1. The occurrence of any of the following shall be an Event of Default:
12.1.1. any sum due under the Mortgage Documents is not paid within 60 calendar days of the date on which it
was due for payment;
12.1.2. You (or any of You) are in breach of any obligation under any of the Mortgage Documents and either:
(a) You fail to remedy that breach within 7 days of Us giving You notice requiring You to do so;
(b) We reasonably consider that the breach is not capable of being remedied; or
(c) We reasonably consider that the breach makes it more likely that either You will be unable to pay or We
will be unable to recover the sums due to Us under the Mortgage Documents;
12.1.3 You are made bankrupt or enter into any arrangement with creditors in any jurisdiction;
12.1.4 where any step is taken for the administration, liquidation, receivership, winding-up or dissolution or You or
Your assets;
12.1.5. You are struck off, or otherwise cease to exist as a [company] [limited partnership].
12.1.6. any other person begins proceedings for possession or to otherwise realise or enforce an interest in the
Property or any part of the Property; and
12.1.7. any of the representations and warranties made by You under clauses 11.1.1 to 11.1.7 is or proves to have been
misleading or incorrect in any material respect when made or deemed to be made.
12.2. Upon the occurrence of an Event of Default, We may give You notice requiring You to immediately repay
Your Mortgage Loan in full (including all fees, costs and interest).
12.3. Following the occurrence of an Event of Default, We may set off any sum We owe to You (including sums
You (or any of You) hold in an account with Us) against the sums owed by You to Us under the Mortgage
Loan.
13. Fees
13.1. We may charge You a fee to recover any costs or other expenses We incur in relation to the Mortgage Loan
or the Mortgage Documents including in connection with:
13.1.1. recovering any sums You owe to Us under the Mortgage Documents;
13.1.2 the protection or enforcement of Our Security;
13.1.3. any legal proceedings in relation to the Mortgage Loan or the Mortgage Documents; or
13.1.4. Us carrying out any obligation of Yours under the Mortgage Documents where We reasonably believe that
You have failed to do so or failed to do so sufficiently or satisfactorily.
14. Your obligations in relation to the Property
14.1. Until the Mortgage Loan is repaid in full, You must:
14.1.1. keep the Property (for the avoidance of doubt including but not limited to all buildings, plant and machinery)
in good repair (unless You notified Us prior to Us making the Offer to You that the Property is not in good
repair. In such circumstance You must comply with any special conditions set out in the Offer Letter relating
to the condition and repair of the Property;
14.1.2. rebuild or repair the Property where necessary to comply with this clause 14;
14.1.3. not make or allow any to be made any application for planning approval in respect of the Property and
not carry out or allow to be carried out any demolition, construction, alteration or additions to the Property
without Our prior written consent;
14.1.4. manage the Property with all due diligence and in accordance with the principles of good estate
management applicable to its use and maintain and comply with all permissions, consents, approvals,
licences and certificates appropriate to the use of the Property;
14.1.5. make sure that any unfinished building works on or at the Property are completed without delay and to a
good standard;
14.1.6 insure the Property with a reputable underwriter or insurance company against appropriate comprehensive
building insurance risks (including but not limited to terrorism and flooding) to cover the full cost of re-
building the Property and pay all premiums for that insurance and ensure that Our interest is noted on the
insurance policy and that nothing is done which may invalidate any insurance policy.
14.1.7. comply with all covenants, agreements and statutory obligations (including all environmental laws) regarding
the Property;
14.1.8 allow Us or any representative acting on Our behalf to enter the Property on reasonable advance notice and
to inspect it;
14.1.9. promptly pay any rent, rent charges, service charges, rates, taxes and other charges payable in respect of
the Property;
14.1.10. promptly pay all sums payable by the owner or occupier of the Property;
14.1.11 give Us full details in writing of any claim, notice of proceedings or other notice affecting the Property within
7 days of receipt;
14.1.12. not grant or agree to grant any lease, tenancy or licence of the Property to a tenant except where You have
obtained Our prior written consent;
14.1.13. not create or allow to exist any security over the Property other than the Security except where You have
obtained Our prior written consent
14.1.14. not carry out or permit any third party to carry out any unlawful or criminal activity at the Property;
14.1.15. promptly give Us any information about the Property which We reasonably ask for; and
14.1.16 provide us with (at Your cost) an updated Valuation when required by Us.
15. Leasing and Use of the Property
15.1. The Property shall not be let or sub-let without Our prior written consent.
15.2. In connection with any lease of the Property, at any time We may require You to provide:
15.2.1. details of any prospective or current tenant of the Property;
15.2.2. details of any activity proposed to undertaken or being undertaken by a tenant from the Property;
15.2.3. a copy of any lease agreement or any other document which grants or permits a person a right to occupy
or use the Property or any part of the Property; and
15.2.4. a copy of any notice sent by or received by You in relation to the lease of the Property or any part of the
Property;
15.3. Where the Property or any party is subject to a lease or sub-lease:
15.3.1. the lease must be in a form approved by Us, and must include a clause that the tenant is not allowed to
sub-let the Property or part of the Property unless We provide Our prior written consent; and
15.3.2. You must diligently enforce the terms of the lease (including collecting amounts payable) and not surrender,
renounce, terminate, forfeit or agree to change the terms of the lease without Our prior written consent.
15.4. Where the Property or any part of the Property is let or sub-let for residential purposes, any lease or
sub-lease must be made in accordance with the Landlord Registration (Private Housing) Act 2021 (and all
related and subsidiary legislation, rules and regulations).
15.5. If You let the whole or any part of the Property, or otherwise cease to occupy the Property, during the Term:
15.5.1. an additional interest charge of an amount to be determined by Us in Our absolute discretion but being not
less than 1.5% per annum will, with immediate effect and until such time as Your Mortgage Loan is repaid in
full, be applicable to Your Mortgage Loan (in addition to the other interest sums referred to in the Mortgage
Documents);
15.5.2. We may require You to provide additional information and confirmations to Us in respect of matters such as
the Property’s safety, insurance and Your compliance with Your legal obligations; and
15.5.3. Your obligation to keep the Property insured will be unaffected.
16. Further assurance
You agree to do anything We reasonably consider necessary, including executing any document, in order to give
full effect to the agreement between You and Us set out in the Mortgage Documents or to enable Us to exercise
the rights granted to Us by the Mortgage Documents.
17. Power of Attorney
17.1. You, and, if there is more than one of You, each of You, irrevocably appoint Us as Your attorney to in
Your name and on Your behalf sign and deliver and otherwise perfect any deed, assurance, agreement,
instrument or act which We and/or any receiver may think fit:
17.1.1. in the exercise of any powers or in respect of any of Your obligations under the Mortgage Documents;
17.1.2. to enable Us to effectively exercise the rights granted to Us by the Mortgage Documents;
17.1.3. in the making of any payments (whether by way of payment of rent or service charges or other money
payable under a lease or otherwise);
17.1.4. in effecting or renewing insurance;
17.1.5. in carrying out works at any property;
17.1.6. in doing other things or bringing, settling or defending any proceedings (including forfeiture proceedings) in
Your name and at Your expense;
17.1.7. to make good or preserve Your title to any property;
17.1.8. to make good or preserve Our Security; and/or
17.1.9. to receive any money due to You in relation to any property referred to in the Security and to use such
money to reduce Your debt under the Mortgage Loan.
17.2. Where there is more than one of You, the power of attorney at clause 17.1 allows Us to act for any one of You
or for all of You.
18. Continuing security
The Security is a continuing security and shall remain in force and effect regardless of any change in Your
circumstances.
19. Transfer
19.1. You agree that We may transfer Our rights and obligations under the Mortgage Documents to any person
at any time and that, following such a transfer, the person to whom We have transferred them will have the
ability to enforce the rights in the same way as We could prior to the transfer. You agree to Us releasing
information about You and the Mortgage Loan to any potential transferee.
19.2. You may not transfer Your rights or obligations under the Mortgage Documents under any circumstances.
20. General
20.1. We may vary these Terms and Conditions where We reasonably believe that a change is necessary:
20.1.1. to reflect a change in a relevant law, regulation or code of practice, or a judgment, decision, requirement or
recommendation of a Court, regulator or other similar body;
20.1.2. as a result of Our business being sold to or acquiring another business; or
20.1.3. to enable Us to provide enhanced services to You.
20.2. Where We make a variation under clause 20.1 We will give You not less than 28 days’ prior notice in writing.
20.3. The Contracts (Rights of Third Parties) Act 2001 does not apply to these Terms and Conditions or the
Mortgage Documents.
20.4. A failure or delay in Us or You exercising any right or remedy under the Mortgage Documents shall not
constitute a waiver of that right or remedy. A single or partial exercise by Us or You of any such right or
remedy shall not prevent the further exercise of that right or remedy. A waiver of a breach of any term of
any Mortgage Document shall not constitute a waiver of any other breach.
20.5. In the event that any provision of these Terms and Conditions or the Mortgage Documents is deemed
unenforceable, it shall not affect the enforceability of the other provisions of these Terms and Conditions or
the relevant Mortgage Documents (as applicable).
21. Complaints
21.1. We have written procedures for handling complaints fairly and promptly, which are available upon request. If
you have a complaint please contact us by post, phone, email or in person with the details.
21.2 Upon receipt of your complaint We will write to You sending a copy of Our complaints procedure and to
inform You that an independent member of staff has been appointed to investigate and respond to You as
soon as possible. If Your complaint is not resolved in a timely or satisfactory manner, and if You are an eligible
complainant, You may be able to refer Your complaint to the Isle of Man Financial Services Ombudsman
Scheme who can be contacted at: Post: The Isle of Man Financial Services Ombudsman, Thie Slieau Whallian,
Foxdale Road, St John’s Isle of Man, IM4 3AS; Tel: +44 1624 686500; Email: ombudsman@iomoft.gov.im.
22. Notices
22.1 Any notice or other communication given to You by Us, or given by You to Us, under or in connection with
these Terms and Conditions or the Mortgage Documents shall be: (A) in writing; (B) delivered by hand, by
pre-paid post or other next day delivery service, and sent to You prior to drawdown of the Mortgage Loan
and where following drawdown of the Mortgage Loan You are not in occupation of the Property at the
address You provide to Us, or where following drawdown of the Mortgage Loan and you are in occupation
of the Property at the Property, or to Us at Clarendon House, Victoria Street, Douglas, IM1 2LN (for the
attention of a Director) as appropriate, or to any other address as is notified in writing by one party to the
other from time to time.
22.2 Any notice or other communication that We give to You under or in connection with these Terms and
Conditions or the Mortgage Documents shall be deemed to have been received: (A) if delivered by hand, at
the time it is left at the relevant address; and (B) if posted by pre-paid post or other next day delivery service
on the second business day after posting. A business day is any day other than a Saturday, a Sunday or a
public holiday in the Isle of Man.
22.3 Any notice or other communication given by You to Us shall be deemed to have been received only on
actual receipt.
23. Governing law and jurisdiction
These Terms and Conditions and the Mortgage Documents shall be governed by and construed in accordance with
the laws of the Isle of Man. You and Us agree that the Isle of Man Courts shall have non-exclusive jurisdiction to settle
any dispute arising from any of the Mortgage Documents or the Mortgage Loan.
Conister Bank Limited. Registered in the Isle of Man No. 000738C. Registered Office: Clarendon House, Victoria Street, Douglas, Isle of Man, IM1 2LN. Conister Bank Limited is Licenced by the Isle of Man Financial Services Authority for its deposit taking. All loans are subject to status. Terms and conditions apply. An acceptance fee will be charged. Property used to secure a loan could be at risk and may be repossessed if you do not keep up your repayments.
CB/MTG/OL/FEB26
