Loan Products Terms and Conditions

For Lending Products you will receive a set of individual Terms and Conditions specific to your product(s) and these will be attached to your Facility Agreement. In addition, the General Terms and Conditions below apply to all OakNorth Bank plc products.

“We”, “us” or “our” means OakNorth Bank plc, 6th Floor, Nightingale House, 65 Curzon Street, London W1J 8PE .

Where there is reference in these conditions to a business day, that means any day other than Saturday, Sunday or a bank holiday in England and Wales.

Where there is reference in these conditions to unique identifier that means the required information to identify a bank account. For accounts in the United Kingdom this is the account number and where appropriate, sort code.

You may ask us at any time during the life of this agreement to provide you with the information contained in this agreement.

OakNorth Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 629564). Registered in England No. 8595042.

  1. Customer Responsibilities

    1. You must notify us immediately of any change in your name or home/email address and/or telephone number.

    2. If you ask us to accept instructions by fax (including with a facsimile or lithograph signature), email (and signed attachment in whatever format) or telephone, then in consideration of us agreeing to accept instructions in this way you agree to indemnify us from and against all actions, proceedings, claims and demands which may be brought against us and all losses, costs, charges, damages and expenses which we may incur or for which it may become liable by reason of its having acted on any such instruction from you or an authorised signatory (notwithstanding that any such instruction may not have been duly authorised by you). You will also indemnify us on a full indemnity basis for legal fees and all other collection costs and expenses incurred in the enforcement of this indemnity.

  2. Changes

    Changes to our service or these conditions.

    We may make changes to the services or conditions of this account and we may introduce new services or conditions. Changes may be to the services or these conditions for the following reasons:

    1. To make these conditions easier to understand or fairer to you

    2. To correct mistakes, ambiguities, inaccuracies or omissions where it is reasonable to do so or as a result of customer feedback

    3. To make improvements to the services we provide which are of benefit to you

    4. To reflect changes in security design or technology at no increased cost to you

    5. To respond to changes in the law, codes of practice, industry-wide fraud prevention practices, court or ombudsman decisions or new regulatory requirements or practice

    6. To respond to changes in the general retail practices of banks and other organisations offering similar services including the terms on which they offer similar products

    7. To take account of any change in our ownership or to reflect a reorganisation of our business as a result of it being acquired or merging with another bank or organisation to make sure that our customers and the customers of the other organisation are treated in a similar way if they have a similar product

    8. If we reasonably believe the change is necessary in the interests of our business as a whole, for example to protect our financial strength

    9. To respond to changes in your credit assessment or where your account has not been used for 12 months.

    10. If we make changes to our services or conditions for the reasons listed above:

    11. Where the change is more favourable to you we will tell you of any change at the earliest opportunity after the change has been made in national press advertisements, statement messages or statement inserts. The change will apply to your account automatically from the date of the change

    12. Where the change we make is not favourable to you we will tell you of any change by personal notice at least 2 months before we make the change. The new service or conditions will apply to your account automatically. However, if you do not agree to such a change you can, at any time up to 30 days from the date we tell you of the change, contact us to discuss your options with us. If you do not contact us you will be deemed to have accepted the change.

    13. Where we make a change for one or more of the reasons in this section 11 we will do so in a reasonable and proportionate manner.

    14. If we make a number of changes or a major change to these conditions during any 12-month period, we will provide you with a summary of the changes and let you know where you can obtain an updated copy.

  3. Information we hold about you

    Your information comprises all the financial and personal information we hold about you and your transactions. It includes:

    1. information that we receive from third parties (third parties who provide services to you or us and credit reference or fraud prevention agencies);

    2. information that we learn about you through our relationship with you and the way you operate your accounts; and

    3. information that we gather from the technology which you use to access our services. If you contact us electronically, we may collect your electronic identifier e.g. Internet Protocol (IP) address or telephone number supplied by your service provider.

  4. How we use your information and who we share it with

    1. We may use and share your information with OakNorth and with third parties providing services to either you or the Bank. This information helps us and them to:

      1. assess and process applications, provide you with services and manage our (or their) relationship with you;

      2. carry out financial (including credit) and insurance risk assessments;

      3. recover debt; and

      4. prevent and detect crime.

    2. The information which we hold and share allows us to better understand what our customers need from us., we analyse the information:

      1. to understand our customers’ preferences, expectations and behaviour;

      2. to develop, test and review the performance of the Bank’s products and services; and

      3. to enable the Bank to find and make more relevant offers of its products and services to you.

    3. If you agree, we may also use and share information about you and your transactions to offer you other products or services which we or third parties can provide. Only we will contact you in this way, and we will only do so if we believe that these will be of genuine interest to you. We will not share your information outside the Bank for marketing purposes. We will ask you when you first open your account if you are happy to receive such information by mail, email, text and other forms of electronic communication. If you change your mind about how you would like us to contact you or no longer wish to receive this information, you can let us know by contacting us.

    4. We do not disclose your information to anyone outside the Bank except:

      1. where we have your permission;

      2. where we are required or permitted to do so by law or a regulatory body;

      3. to third party service providers, agents and sub-contractors acting on our behalf;

      4. to debt collection agencies;

      5. to credit reference and fraud prevention agencies;

      6. to other companies that provide a service to you directly or on our behalf;

      7. where we may transfer rights and obligations under this agreement or assign, transfer or charge our interest in any financial product provided to you under your account.

    5. We may disclose your information to government entities or regulatory bodies in order that those entities may discharge their responsibilities and obligations or exercise their powers or functions.

    6. We may transfer your information to other countries on the basis that anyone to whom we pass it provides an adequate level of protection. However, such information may be accessed by law enforcement agencies and other authorities to prevent and detect crime and comply with legal obligations.

    7. Our third party service providers may share information about you with us in accordance with their own policies on use of information. If we obtain information about you from our third party service providers, we will only use this information for the purposes set out in these terms and conditions.

    8. We may contact you by a variety of means including via the application on your mobile phone, by email, text message, post and/or telephone. If at any point in the future you change your mobile phone number, email address, postal address or telephone number, you should tell us promptly about those changes.

    9. From time to time we may change the way we use your information. Where we believe you may not reasonably expect such a change we shall write to you. If you do not object to the change within 60 days, you consent to that change.

    10. If you would like a copy of the information we hold about you, please write to: Operations Manager, OakNorth Bank plc, 1st Floor, Alexandra Buildings, 28 Queen Street, Manchester, M2 5HX. A fee may be payable.

  5. Credit Reference Agencies

    1. We may make periodic searches at credit reference agencies. This will include, for example, searches to check your identity and prevent fraud, when you open your account and from time to time.

    2. We will also use information to manage and take decisions about your accounts, trace debtors, recover debt, prevent fraud and to check your identity to prevent money laundering, unless you provide us with other satisfactory proof of identity. This may include information about how you manage your account including your account balance, credit limit and any arrears. We will also provide this information to credit reference agencies who may make this information available to other organisations so that they can take decisions about you, your associates and members of your household. This information may also be used for tracing purposes. We may also inform our credit reference agency if you default on payments and the credit reference agency may inform other agencies and lenders as well.

  6. Fraud Prevention Agencies

    1. If false or inaccurate information is provided and fraud is identified or suspected, details may be passed to fraud prevention agencies. Law enforcement agencies may access and use this information.

    2. We and other organisations may also access and use this information to prevent fraud and money laundering, for example when:

      1. checking applications and managing credit or other facilities and recovering debts; or

      2. checking details of job applicants and employees.

    3. We and other organisations that may access and use information recorded by fraud prevention agencies, may do so from other countries.

    4. We can provide the names and addresses of the credit reference and fraud prevention agencies we use in which case please contact us. The agencies may charge a fee.

  7. Email

    1. If you email us, or give us your email address, we will keep a record of it and you agree to communications being sent to you at that address. We will not give your email address to any unauthorised third parties.

    2. However, if you send us an email, please remember that it will be insecure and could be intercepted. If you do send us an insecure email, please keep the amount of confidential information you include to a minimum. We will do likewise when we reply.

  8. Information and Monitoring

    1. We may monitor or record calls, emails, text messages or other communications in accordance with applicable laws. Such recording or monitoring may take place for business purposes such as quality control and training, prevention of unauthorised use of our telecommunication systems and website, ensuring effective systems operation, prevention or detection of crime, and protection of your personal data.

  9. Other issues

    1. It is our aim to ensure a complete service at all times, but we will not be responsible when failure is caused by abnormal and unforeseeable circumstances beyond our (or our agents' and/or subcontractors') control the consequences of which would have been unavoidable despite our efforts to the contrary.

    2. The OakNorth Bank plc is covered by the Financial Services Compensation Scheme (FSCS), which would pay compensation of up to £85,000 to eligible depositors in the event of the Bank becoming insolvent.

      Certain customers are not covered by the FSCS. The exclusions include large businesses or organisations, large companies and local authorities: visit for further details.

    3. We may transfer our rights and/or responsibilities under this agreement to any person if:

      1. that other person is authorised to accept deposits and writes to you and undertakes to carry out all our duties and obligations under this agreement. If it does so, you agree that we will be released from all those duties and obligations

      2. we reasonably believe such person is capable of performing our responsibilities. You may not transfer any of your rights or responsibilities under this agreement to any person.

    4. You may be responsible for other taxes or costs that are not paid by or via us, e.g. higher rate tax.

    5. This agreement with you is governed by the laws of England and Wales. Any dispute which arises in relation to this agreement shall be dealt with by any court in the UK, Isle of Man and Channel Islands which is able to hear the case.

    6. If you have a complaint please telephone us on (Our Telephone Number) or write to OakNorth Bank plc, 1st Floor Alexandra Buildings, 28 Queen Street, Manchester, M2 5HX.

      If you still remain unsatisfied you may be entitled to refer your complaint to the Financial Ombudsman Service, Exchange Tower, London E14 9SR or telephone 0800 023 4567.

    7. The OakNorth Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (No.629564) and holds an Interim Permission in respect of consumer credit activities and subscribes to the Lending Code and the Financial Ombudsman Service.

    8. If we believe that you or your organisation has tax obligations in other countries, we may disclose information about you directly to those tax authorities or to HM Revenue & Customs, which may share the information with the other tax authorities.

    9. Foreign Account Tax Compliance Act (FATCA). If you are a US person (US passport or US Born or US Registered address or US Taxpayer) we may be obliged to provide any required details about you and your account with OakNorth to the UK and US Tax authorities. We will inform you by telephone or email if this is the case.

  10. Contacting us

    If for any reason you need to contact us, this can be done in the following ways –

    1. By email -

    2. By Post – OakNorth Bank plc, 1st Floor, Alexandra Buildings, 28 Queen Street, Manchester, M2 5HX.

  11. Complaints

    1. If you wish to complain about any of our products or services, we have procedures designed to resolve your complaint effectively. Please contact our Operations Manager as follows:-

      By email

      By Post at; OakNorth Bank plc, 1st Floor, Alexandra Buildings, 28 Queen Street, Manchester, M2 5HX

    2. We always endeavour to reply to complaints within two or three days. 

    3. The Financial Ombudsman Service is an independent organisation. They look to sort out complaints that consumers and financial businesses have not been able to resolve between themselves.

    4. If for some reason we have not been able to resolve your complaint within eight weeks, or you are not satisfied with the resolution you can refer your complaint to the Financial Ombudsman Service. If you receive a final response letter from us and you want to contact the Financial Ombudsman Service, you will need to do this within six months of receiving our final response letter. To find out more about the service visit

    5. You can contact the Financial Ombudsman Service by writing to:

      The Financial Ombudsman Service
      Exchange Tower
      E14 9SR

      Alternatively, you can phone them on 0800 023 4567.