Terms and Conditions of credit agreement with Close Brothers Premium Finance
Millennium Insurance Brokers Limited trading as Simple Landlords Insurance (‘we’, ‘us’) acts as a credit broker and is not a lender. We will not charge you a fee for these credit broking services.
Close Brothers Limited trading as Close Brothers Premium Finance (‘CBPF’) is the lender. By selecting to pay for your insurance premium monthly by Direct Debit, you will be applying for a credit facility with CBPF.
CBPF will send you a Welcome Pack which will include the Standard European Consumer Credit Information (‘SECCI’) document. It’s important that you read all information within your Welcome Pack as it will help you decide on whether the credit facility meets your needs and is right for you. If the credit facility meets your needs, you will be required to sign and return your credit agreement to CBPF within 14 days from receipt.
To assess your application, CBPF may use credit scoring, credit reference agencies and automated decision-making systems. We will provide CBPF with your data in order for them to make this assessment. If your application is unsuccessful, CBPF will cancel your credit agreement and notify you in writing. You will then need to find an alternative way to pay for your insurance premium.
If your application is successful, the credit will only be suitable for funding your insurance premium and not for any other use.
You are able to withdraw from the credit agreement at any time. If you withdraw from your credit agreement, you’ll have to pay back any credit that you’ve received. You will not be charged a fee for withdrawing from your credit agreement however you will need to find an alternative way to pay for your insurance premium.
You can repay the credit agreement at any time, either in full or in part. Where partial repayment is made, you must continue to meet the remaining minimum monthly repayments unless CBPF has notified you in writing that the minimum monthly repayment has been reduced.
If you fail to pay an instalment as and when required by your credit agreement, you’ll be charged a default fee of £30. This fee will be collected with the missed payment. If CBPF is unable to collect under Direct Debit, they may cancel your agreement. If CBPF cancel your credit agreement, you’ll be liable for all sums owing, including all fees charged. You will then need to find an alternative way to pay for your insurance premium. Failing to pay an instalment may also affect you credit rating.
Full details of your credit agreement will be provided in your Welcome Pack but you can obtain further information by contacting CBPF on 0333 3218 566 or by writing to Close Brothers Premium Finance, Wimbledon Bridge House, 1 Hartfield Road, London, SW19 3RU.