PRE-CONTRACT CREDIT INFORMATION
1. Contact details
Humm Group Limited
3rd Floor 2-4 Wellington Street
Belfast BT1 6HT
+44 289 142 2113
2. Key features of the credit product
The type of credit.
Fixed-sum loan agreement.
The total amount of the credit.
This means the amount of credit to be provided under the proposed credit agreement or the credit limit.
£ [ ] (“the Loan”)
How and when credit would be provided.
Once the goods and or service have been supplied to you the total amount of credit will be advanced and paid to the Retailer who may, in turn, pay us a fee. Any fee paid to us will not affect the amount you are required to pay under the agreement.
The duration of the credit agreement.
You will have to pay the following:
· The Application Fee of £ [ ] (“Application Fee”) on the Agreement Date, followed by;
· Instalments of £ [ ] for [ ] Months during the Interest Free Period; and
· Instalment Payments of £ [ ] for [ ] Months at the Standard Variable Rate; and
· The Account Fee of £ [ ] for [ ] Months
Your repayments will pay off what you owe in the following order.
2. Interest; and
The total amount you will have to pay.
This means the amount you have borrowed plus interest and other costs.
£ [ ] (“Total Amount Payable”)
The proposed credit will be linked to the supply of specific goods or the provision of a service.
Description of goods.
[ ] (“the Products”)
£ [ ]
Total Cash Price: £ [ ]
3. Costs of the credit
The rates of interest which apply to the credit agreement
Borrowing rates of repayments:
· [ ] [Frequency] of an Interest Free Period with Instalment Payments at 0% per annum fixed.
· [ ] [Frequency] of Standard Variable Rate Instalment Payments at [ ] (“Standard Variable Rate”)% per annum variable.
These rates are correct as at the date of issue of this Pre-Contract Credit Information.
The Standard Variable Rate may be varied in accordance with Clauses 12 and 15 of the Agreement. We will notify you in advance of any change which is to your disadvantage and any such change will be effective and binding not less than thirty (30) days after such notification.
Annual Percentage Rate of Charge (APR)
This is the total cost expressed as an annual percentage of the total amount of the credit.
The APR is there to help you compare different offers.
[ ] % APR (variable)
The APR is calculated based on the application of the Standard Variable Rate and any Interest Free Period. It is assumed that the total amount of credit is advanced on the Agreement Date; the Agreement remains valid for the duration of the Agreement; and you and we will fulfil our obligations under the Agreement.
Any other costs deriving from the credit agreement.
Conditions under which the above charges can be changed.
The following charges are payable:
• Application Fee of £ [ ] ;
• Account Fee of £ [ ] ; and
These charges are correct as at the date of issue of this Pre-Contract Credit Information.
These charges may be varied in accordance with Clause 15. However, we will give you at least 30 days’ notice in writing or by email before the change takes effect.
Costs in the case of late payments.
Late Fee of £7.00.
This late payment charge is correct as at the date of issue of this Pre-Contract Credit Information.
This charge may be varied in accordance with Clause 15. However, we will give you at least 30 days’ notice in writing or by email before the change takes effect.
In the case of late payments, interest continues to be charged on the balance at the applicable rate.
You will pay on demand all costs and expenses incurred by us in enforcing or preserving or seeking to enforce or preserve our rights under the Agreement.
Consequences of missing payments.
If you do not meet the repayments on your Agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future, make obtaining credit more difficult or expensive in the future and have severe consequences which include (a) registering of a default against you at credit reference agencies and (b) possible legal proceedings which may include a charging order against your home. If you miss a payment this may mean that it will take longer for you to complete your repayments.
4. Other Important Legal Aspects
Right of withdrawal.
You have the right to withdraw from the Agreement within fourteen (14) days of the later of the day after the Agreement Date and the day after the date on which you receive a copy of the Agreement. This does not mean that you can have the product purchased refunded.
You have the right to repay the credit early at any time in full or partially.
Consultation with a Credit Reference Agency.
If we decide not to proceed with a prospective regulated consumer credit agreement on the basis of information from a credit reference agency we will, when informing you of the decision, inform you that it has been reached on the basis of information from a credit reference agency and of the particulars of that agency.
Right to a draft credit agreement.
You have the right, upon request, to obtain a copy of the draft credit agreement free of charge, unless we are unwilling at the time of the request to proceed to the conclusion of the credit agreement.
5. Additional information in the case of distance marketing of financial services
(a) concerning the creditor.
Financial Conduct Authority register number 954478
The supervisory authority.
The Financial Conduct Authority is the supervisory authority under the Consumer Credit Act.
(b) concerning the credit agreement.
The law taken by the creditor as a basis for the establishment of relations with you before the conclusion of the credit agreement.
The law applicable to the credit agreement and/ or the competent court.
This agreement is governed by the laws of England and Wales. The courts of England and Wales will have non-exclusive jurisdiction for any related disputes. This means that if your address is in Scotland, the courts of Scotland will deal with your dispute and if your address is in Northern Ireland, the courts of Northern Ireland will deal with your dispute.
Language to be used in connection with the credit agreement
We will communicate with you in English in relation to this Agreement.
(c) concerning redress.
Access to out-of-court complaint and redress mechanism
If you have any reason to complain you may do so by contacting us directly.
If you remain dissatisfied with our response, you have the right to complain to the Financial Ombudsman Service at: The Financial Ombudsman Service, Exchange Tower, London E14 9SR www.financial-ombudsman.org.uk