1. Important
(a) These terms and conditions form part of the agreement with Blue Sky Personal Finance Ltd (“the Agreement”) and must be read carefully. We will act as your Credit Broker for the purpose of securing a loan or finance
(b) By signing the Agreement you admit to having read and understood these terms and conditions and be bound by them. You authorise and request us and any group and associated companies to act immediately on your behalf. You agree to us soliciting credit agreements or transactions with associated or other companies by mail, telephone or other means during and after this Agreement. You authorise us to disclose, register or use details in any document or discussion between us for any purpose connected with our group's business. This shall include disclosing details to any credit reference agency unless you instruct us immediately by telephone.
(c) The Agreement does not constitute a guarantee of a loan as the lender grants the final approval and evidence may be required.
(d) The illustrations referred to in any of our documentation whether electronic or paper-based or in discussions are examples only. We do not warrant that the interest rates or repayments described are the actual rates that will be offered or used. Such rates and their agreements are determined by the lender(s) in the light of your particular circumstances.
(e) We will endeavour to match your details with one or more of our lender associates immediately on receipt of your completed application. The loan or finance agreement (“the Loan Agreement”) that you may enter into with the lender will normally be regulated by Consumer Credit Acts (“the Acts”). The Acts lays down certain requirements for your protection, and if the Loan Agreement does not, the lender may not be able to enforce it.
2. The Loan Interest and Repayment
(a) You have the right under the Acts to settle the Loan Agreement at any time by giving notice in writing and paying the amount payable under it (which may be reduced by rebates as set out in the document). If you would like to know more about the protection and remedies provided under the Acts you should contact either your local Trading Standards Department or The Citizens Advice Bureau.
(b) If you break any term of the Loan Agreement and then fail to comply with the notice that lenders may be required by law to send you, you will have to repay to the lender immediately the necessary amount. The Loan Agreement will be secured on your property which will be at risk of repossession by the lender if you default on it.
(c) Interest at the rate shown in the Loan Agreement will accrue on a daily basis on the whole amount repayable over the term of the Loan Agreement (“the Total Amount Repayable”). If any payment is not met when due then the outstanding interest will itself bear interest at the annual percentage rate (“the APR”).
(d) If you wish to repay the Total Amount Repayable early you may do so by paying:-(i) all arrears of monthly payments and interest thereon; plus, (ii) all future monthly payments which would have fallen due if the Loan Agreement had continued without early payment; less, (iii) a rebate on these monthly repayments in accordance with the Consumer Credit (Rebate on Early Settlement) Regulations. You may only make partial repayment of capital by monthly repayments.
(e) Irrespective of any arrangement entered into by the lender to defer any payment date, the lender reserves the right to charge interest based on the due dates set down in the Loan Agreement.
3. Enquiries and Searches
(a) We may use the information which you give us, or we hold about you and we will give out information about you to one or more credit reference agencies for adding to your record with them. Their records (and where relevant the fraud prevention agencies) will be shared with other organisations and may be used by us and them to:- (i) help make decisions about credit and credit related services (such as insurance for you and members of your household); (ii) check your identity to prevent money laundering; and (iii) prevent fraud, trace debtors, recover debts and manage your accounts. The agencies will add to your record details of our search and your application whether or not the application proceeds. This will be seen by other organisations which make searches. Further searches may be made but they will not be shared with others. We may use credit scoring and other automated decisions from decision-making systems
(b) It is important that you give us accurate information. We will check your details with the fraud prevention agencies and other credit reference agencies and if you give us false or inaccurate information and/or we suspect fraud we will record this with these agencies.
4. Partners
(a) If there is more than one borrower then you are both jointly and severally liable for all obligations under the Loan Agreement
(b) In the case of a joint application where only one party is speaking or a sole applicant who declares a financial association with another (e.g. the name of a partner) then by signing the Agreement you declare that you are entitled to disclose information about your joint applicant and/or anyone else referred to by you. Where the application is joint you authorise us to search for information at the credit reference agencies about both of you.
(c) If you are a sole applicant, information held about you by credit reference agencies may be linked to records relating to your partner and you agree that any associated records will be used to help assess your application.
(d) For all other joint applicants, you both understand that the details of this application recorded at the credit reference agencies will be about both of you. (An association will therefore be created at the credit reference agencies which link your financial records. You both understand that each other's information will be taken into account in all future applications by either or both of you. This linking will continue until one of you successfully files a disassociation with the credit reference agency.)
5. Our Services and Fees
(a) By introducing you to a lender we act only as an introducing agent on your behalf. We do not act on behalf of the lender or represent the lender.
(b) If we introduce you to a lender that makes you an offer of a loan then in addition to the broker fee we may also receive a commission from the lender. You hereby agree that we may keep such broker fees and commission for our own account.
6. Marketing
We may contact you about services or products offered by us or other companies in our group or approved by us which we believe you may be interested in, or to carry out market research about our services or products or those of third parties. We may also pass information to other companies approved by us so that they may contact you about services or products which they believe you may be interested in. Contact for these purposes may be by post, telephone, (but not if you or the subscriber to your telephone line has registered with the telephone preference service) or by other means as we may agree with you from time to time. In order to determine which services or products might be of interest to you, you agree that we may analyse information about you and your conduct of the account, including your payment record. Please note that to improve our service and for security purposes, we both monitor and record telephone calls. |
