Pre-Contract Credit Information
1. Contact details
Creditor
Close Brothers Limited trading as Close Brothers Premium Finance
Address Wimbledon Bridge House, 1 Hartfield Road, London, SW19 3RU
Credit intermediary Abacai Technologies Limited t/a Boom
address Mara House, Nantwich Road, Tarporley, England CW6 9UY
2. Key features of the credit product
The type of credit Running account.
The total amount of credit At the date of the credit agreement (the “Agreement”) the credit limit will be £ 1,479.37 .
This means the amount of credit to be provided under You may be able to make further drawdowns of credit (for example, to finance renewals of your
the proposed credit agreement or the credit limit insurance policy or changes to the premium of your insurance policy) as the credit limit which
we’ve set may be varied. It may be suspended by us as necessary. You’ll be given advance
notice of any changes to the credit limit.
How and when credit would be provided Credit will be provided to finance the purchase of insurance policies (each a “Relevant Policy”)
and associated charges.
Payment will be made direct to the broker or the insurance company in relation to the Relevant
Policy.
The duration of the credit agreement The Agreement has no fixed or minimum duration.
Repayments You must make a minimum monthly payment to us each month in respect of each drawing while
you owe money under the Agreement (together with any associated interest and charges) before
the expiry of the Relevant Policy it finances.
Each drawing under the Agreement will be repayable in instalments, each of which will be an
equal proportion of the total amount you must pay in respect of that drawing (as set out in the
box below) less the amount of any facility fee and less any credit arrangement fee you may have
been charged by your broker (unless this has been financed by us and included in the amount of
the drawing).
Each minimum monthly payment will consist of a single instalment, except that the first minimum
monthly payment may include two or more instalments, depending on the policy start date and
the credit agreement start date. The first minimum monthly payment will also include any facility
fee. The first drawing under the Agreement will be repayable in 10 instalments.
The total amount you will have to pay The total amount you must pay us in respect of your first drawing of £ 1,479.37
is £ 1,685.00 . This amount includes any credit arrangement fee you may have been
This means the amount you’ve borrowed plus
charged by your broker.
interest and other costs
The proposed credit will be linked to the supply of The proposed credit will be linked to the purchase of a Relevant Policy or Policies.
specific goods or the provision of service
Description of services The cash price of the Relevant Policy and any associated charges to be financed by the first
Cash price drawing is £ 1,816.37 .
Security required The insurance policy that we have financed is our security under the credit agreement.
This is a description of the security to be provided
by you in relation to the credit agreement
3. Costs of the credit
The rates of interest which apply to the credit The flat rate interest charge on the first drawing under the Agreement will be 13.90 %.
agreement
This is equivalent to an annual rate of interest of 18.53 %, assuming that the drawing is repaid in
10 instalments starting on the first date when the facility is available.
We may notify you to vary the flat rate interest charge and the annual rate of interest.
Annual Percentage Rate of Charge (APR) The APR will be 37.95 %.
This is the total cost shown as an annual percentage of
the total amount of credit
The APR is there to help you compare different offers
UK Pre-Contract Credit Information-07/23-V6
Related costs
Any other costs deriving from the credit agreement We may charge:
Conditions under which the above charges can be changed A facility fee £ 0.00 each time you make a new drawing or increase the amount of a
drawing to finance an increase in the insurance premium. The facility fee for the first drawing
under the agreement will be £ 0.00 .
A £25.00 fee if you ask to move back the due date for any minimum monthly payment by
more than 7 days.
A fee where of £ 15.00 if we end the agreement after an event of default for each
drawing.
A fee for any reasonable costs we incur in responding to and dealing with your enquiries.
Your broker may have charged a credit agreement fee of £ 0.00 for the
arrangement of the first drawing under the agreement.
You may be charged a credit agreement fee each time you make a new drawing or increase
the amount of a drawing to finance an increase in the insurance premium.
Costs in the case of late payments You’ll have to pay £ 25.00 if we don’t receive any minimum monthly payment on time.
We may also charge you interest at the annual rate of interest applicable to the relevant
drawing on any amount you fail to pay us on time.
Consequences of missing payments It’s important to make sure you make your payments on time.
If you miss a payment you’ll have extra charges, your credit record may be affected, and you
may find it harder to borrow again from us or another lender.
We may take steps to have the Relevant Policy or Policies terminated.
We may also take legal action against you.
4. Other important legal aspects
Right of withdrawal You have the right to withdraw from the agreement without giving any reason before the end
of 14 days. The 14-day cancellation period begins either:
1. on the date on which you sign the Agreement (if you are signing a copy of the Agreement
already signed by us); or
2. on the date on which you receive a copy of the Agreement signed by both you and us (if
you previously signed a copy of the Agreement which had not yet been signed by us).
Early repayment You have the right to repay the credit early in full or in part at any time.
Consultation with a Credit Reference Agency If we decide not to proceed with an Agreement on the basis of information from a credit
reference agency, we will inform you of this and of the particulars of that agency.
Right to a draft credit agreement You have the right, on request, to obtain a copy of the draft Agreement free of charge.
5. Additional information in the case of distance marketing of financial services
(a) concerning the creditor
Registration number Company registration number 195626
Financial Services Register number 124750
The supervisory authority Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct
Authority and the Prudential Regulation Authority.
(b) concerning the credit agreement
The law used by the creditor as a basis for the relationship English law
with you before the conclusion of the credit agreement
The law applicable to the credit agreement and/or the English law and subject to the non-exclusive jurisdiction of the English courts.
competent court
Language to be used in connection with the credit agreement English
(c) concerning redress
Access to out-of-court complaint and redress Any complaint should be directed to us in the first instance. You can contact us:
mechanism By telephone on 0333 321 8566 , Monday to Friday 8:30am to 6pm
By email complaintspf@[Link]
In writing to Close Brothers Limited trading as Close Brothers Premium Finance
Wimbledon Bridge House, 1 Hartfield Road, London, SW19 3RU
If you are unhappy with any response, you can contact the Financial Ombudsman Service:
By writing The Financial Ombudsman Service, Exchange Tower, London E14 9SR
By telephone 0800 023 4567
By email [Link]@[Link]
You can learn more about the Financial Ombudsman Service on their website
[Link]
UK Pre-Contract Credit Information-07/23-V6
