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Previous Address


As you have been at your current address for less than 3 years we need you to provide your previous address.

1. Contact Details

 

2. Key Features of the credit product

 

3. Costs of the credit

4. Other important legal aspects

 

5. Additional information in the case of distance marketing of financial services

 

If you have any questions or are unsure about anything you can visit the FAQ page on our website, or contact us by telephone or email using the contact details set out above.

If you need more time to consider this you can print a copy of this page or ask us to email you a copy to review in your own time. Please note that we will provide you with a copy by email when you complete your application.

You must read everything below before signing


Please read the information in the Adequate Explanations and Terms and Conditions sections before reading and signing the Fixed Sum Loan Agreement.

Adequate Explanations (Important information)

 

Read this document and the SECCI we have given you carefully. We will also email you copies of all these documents after you sign the loan agreement to consider in your own time. Only sign the loan agreement if you understand the information we have provided, have spoken with your proposed guarantor, and are happy that a loan from us is right for you. If you have any questions, please contact us via 0330 1200 313 or info@kadmagnate.local.


Features of this product which may make it unsuitable for some uses

This loan is designed to provide you with a cash advance repayable over 1 to 5 years. It may not be suitable if you intend to use it in full or in part to pay off any existing credit commitments, for example if the interest rates on those loans or credit cards are lower than the interest rate under this loan agreement.

The money you borrow will be transferred to your nominated guarantor's bank account, so if you need the money quickly you will need to ensure you are able to make arrangements for its transfer with your guarantor.


You are required to provide security in the form of a guarantee

This means you must nominate a friend or family member who has agreed to act as your guarantor. They will enter into a separate guarantee and indemnity agreement with us and will be legally responsible for repaying your loan (and any associated costs) if you fall behind with your payments or otherwise breach your loan agreement with us.


How much will it cost?

You have asked to borrow £over year. This will be repaid by monthly installments (made by direct debit or standing order, depending on your choice). The total amount repayable is £.


When the agreement is entered into and your right to withdraw

If you sign your agreement, this does not mean you are guaranteed a loan. We will need to complete our checks that the loan is right for us and for you. We will let you know if your loan has been approved, and provide you with a copy of the agreement signed by you and by us.

Once the agreement has been entered into, you have 14 days (starting from the day after we give you a copy of the final agreement signed by you and by us) to change your mind and withdraw from the agreement without giving any reasons. You can do this by contacting us using the details in your agreement.

If you tell us you wish to withdraw, you will have up to 30 days to repay the amount you borrowed. We accept payments by electronic transfer or any other method we may agree with you.


Continuous payment authority

When you enter into the agreement we ask you to provide a continuous payment authority (known as a "CPA") for your nominated debit card. We can use this to automatically collect repayments from your debit card. We will only use the CPA in accordance with the terms of the agreement (as explained further below). Where CPA is used to collect a repayment you will be liable for a charge under the credit agreement where repayments are made by card for each repayment. You can cancel your CPA at any time by contacting us or your Bank. Cancelling your CPA will not affect your legal responsibility to make repayments under the agreement. We will only attempt to collect the amount outstanding by CPA. We will not attempt to collect part-payments of that amount.


What happens if you miss or fall behind with payments?

Where you miss a payment we will activate the CPA and try to collect the repayment using CPA. We will send you and the guarantor a reminder SMS and make one attempt on the working day following the payment date. If this fails, we will seek to collect the missed repayment from the guarantor using CPA, seven days later. If this attempt fails, then we will make further attempts to contact you and will make an attempt to collect the outstanding amount by CPA at intervals of seven days (up to four attempts per month).

If you fall behind with payments we may charge you a missed payment fee of £15 in respect of each payment you miss. We may also charge you late payment interest at the contractual rate on overdue sums.

We may take steps to recover the money you owe us. This could include contacting your guarantor and asking them for payment. We will share information about your loan with credit reference agencies. Where you fall behind with your payments, this may harm your credit rating and make it more difficult and/or expensive for you to get loans in the future.

In serious cases, we may take court action against you both. If we obtain a court judgment we may seek an attachment of earnings order, a property charging order (or in Scotland, an Inhibition) or warrant of execution against you or your guarantor. You may be responsible for the costs arising from legal action we have to take against you.

We will always treat you fairly – if you are experiencing difficulty please contact us as soon as possible so we can work with you to find a solution.


How we will use your information and communicate with you

We may contact you about your loan using the details you provide in your application (including by telephone, email, SMS message and letter).

Your guarantor will be given a copy of your loan agreement with us, as well as copies of all statements, notices and other information we send you during your loan. By signing the loan agreement, you agree to us sharing this information with your guarantor. For full details about how we use your information please see our Privacy Policy


Other sources of help and advice

There are a number of free debt-counselling organisations who can also help you. These include: Citizens Advice (www.adviceguide.org.uk to find your local office, look in your phone book), National Debtline (www.nationaldebtline.co.uk 0808 808 4000) Money Advice Service (www.moneyadviceservice.org.uk or 0300 500 5000) StepChange (www.cccs.co.uk 0800 138 1111)

For general information about us and how we are regulated you can also contact our trade association the Consumer Credit Trade Association (the CCTA). To visit the CCTA's website go to www.ccta.co.uk.

Terms and Conditions

Please read the contractual terms and conditions below (overleaf in printed version) as they are important and are a part of this agreement.


Contractual Terms and Conditions

 

  1. The credit will be advanced to you by way of payment of the loan monies into your Guarantor's nominated bank account.
  2. By entering into this agreement you confirm that all of the information that you provided in the course of your application is true, complete and correct. You must also provide us with accurate information during your loan, for example if we need to review your account for any reason because you are struggling to keep up with payments.
  3. You must inform us immediately of any changes to your bank details or employment details, or of any other changes in circumstances which may affect your ability to make payments under this agreement.
  4. You must notify us promptly and in any event within seven (7) working days if you or your Guarantor move home or otherwise change your main residential address.
  5. You agree to pay to us the Total Amount Payable by the repayments by their due dates stated in the Financial Particulars. Prompt payment is essential (see clauses 3 and 4 below).
  6. You are required to provide a continuous payment authority (known as a "CPA") for your nominated debit card. We can use this to automatically collect repayments from your debit card. We will only use the CPA in accordance with the terms of this agreement as set out below:
  7. Where you miss a payment we will activate the CPA and try to collect the repayment using CPA. We will send you and the guarantor a reminder SMS and make one attempt on the working day following the payment date (or, where you make your contractual repayments by direct debit, on the day after we have been notified that collection of your payment has been unsuccessful).
  8. If this CPA attempt fails, we will seek to collect the missed repayment from the guarantor using CPA, seven days later.
  9. If the above attempt fails, then we will make further attempts to contact you and will make up to four further attempts per month to collect repayment from you at seven day intervals.
  10. We will only attempt to collect the amount outstanding by CPA. We will not attempt to collect part-payments of that amount.
  11. You can cancel your CPA at any time by contacting us or your Bank. Cancelling your CPA will not affect your legal responsibility to make repayments under the agreement.
  12. If you fail to pay any repayment by its due date you may be charged default interest and the other costs set out in the "costs where you miss payments" section above.
  13. If you fail to pay any instalment within seven days of its due date or if we become aware that any information provided by you before entering into this agreement was false in a material respect or if you commit persistent breaches of this agreement we may, after giving you a default notice in writing, end this agreement and require you immediately to pay to us the outstanding balance under this agreement less any rebate to which you may be entitled. In this agreement "the outstanding balance" means all sums payable under this agreement including, without limitation, our reasonable legal and other costs and expenses for enforcing our rights under this agreement.
  14. Where you are in arrears, your Guarantor can voluntarily make one or more payments on your behalf, but is under no obligation to, until such time as we have served a statutory Default Notice on you and the Guarantor.
  15. If two or more of you entered into this agreement as the Borrower, you shall be jointly and severally liable for the Borrower's obligations under this agreement. That means that each of you can be held fully liable for the Borrower's obligations, including payment, under this agreement.
  16. Use of Your Information: Before entering into this agreement we may search your records at credit reference agencies. They will add to their record about you, details of our search which will be seen by other organisations making searches. Details about you and your payment record under this agreement will be used to help make credit and insurance related decisions about you and members of your household and occasionally for fraud prevention or to trace debtors. You can contact us for details of the credit reference agencies used by us. You have a legal right to these details and can receive a copy of the information held about you on payment of a fee. Information held about you by credit reference agencies may be linked to records relating to any person with whom you are linked financially and other members of your household. We may give information about you and your payment record under this agreement to credit reference agencies, debt collecting agents and any proposed assignee, transferee or charge of this agreement or of our interest in this agreement, their insurers or advisers.
    We may use a credit scoring or other automated decision-making system. We may monitor and record telephone calls for the purpose of security and training. For full details of how we use your information, please see our Privacy Policy.

    CIFAS.
    The personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be obtained by telephoning 0330 1200 313 or visiting www.kadmagnate.local/fraud
  17. It is a condition of this agreement that your nominated guarantor secures your obligations in line with the Security to be provided section above.
  18. Any notice or demand we give will be assumed to have been properly given if served on you personally, or left or sent by prepaid envelope addressed to you at your current address or last known business or private address. If sent by first class post it will be assumed to have been received by you 48 hours after posting. You agree that documents may be served by us upon you by email sent to you at the email address shown overleaf in Portable Document Format (PDF). We are required by law to serve some documents on you, such as statutory Default Notices, by post.
  19. This credit agreement shall be construed according to the laws of England and Wales, whose courts shall be the exclusive courts of jurisdiction over any claim or matter arising under or in connection with this credit agreement. This will be the case unless you reside in Scotland or Northern Ireland, in which case the local law shall apply and your local courts will have jurisdiction.
  20. If we do not enforce our rights under this agreement or delay doing so, at any time, we will not be prevented from doing so later.
  21. We may transfer or assign all or any of our rights under this Loan agreement without your consent, but if we do so you will be informed of this.
  22. If any provision or part-provision of this agreement is found by a competent court to be invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the remainder of this agreement.

 

IMPORTANT USE OF YOUR INFORMATION

You have the right to know how we will use your personal information. It is important that you read the "Use of Your Information" provision (above) and our Privacy Policy before you sign since by signing you are agreeing to this use and disclosure of your information.

In addition we may use your information to inform you by email, sms and/or telephone about other related products and services which we believe may be of interest to you, unless you opt-out of such communications. You may opt-out of receiving marketing communications from us by un-ticking the boxes on this page or by contacting us at any time, or taking the step to opt out set out in each email or SMS you receive.

Where you give your consent for us to do so, we may share your details with carefully selected third parties including credit brokers, other lenders and credit service providers, so that they can contact you about their related products and services. A full list of the credit brokers and lenders we work with is included here.

Information held about you by credit reference agencies may be linked to records relating to any person with whom you are linked financially. Where you are introduced to us by a broker, we may pay them a commission for introducing you. You can contact them to find out more.

Fixed Sum Loan Agreement Regulated by the Consumer Credit Act 1974


Agreement No: TBC

 

Lender (1Plus1 Loans)

 

We/us: 1plus1 Loans Limited (registered in England with Company Number: 08387053) of The Old Tannery, Eastgate, Accrington, Lancashire BB5 6PW (including our successors and assigns).

 

Borrower (You)

 

You: of

 

Amount of Credit

 

£ (the "Loan")

 

Duration of Agreement

 

year

 

Interest Rate

 

24.50% per annum (fixed) Interest is calculated and charged by applying the fixed flat rate to the amount of credit on the date, and for the period, of this agreement.

APR

 

47.4% The APR is calculated on the assumption that this agreement will remain valid for the Loan Term and that the lender and the borrower perform their obligations under the terms and by the dates specified in the agreement.

 

 

Total Charge for Credit (interest only)

 

£

 

Total Amount Payable

 

£

 

How and when credit is provided

We will advance the Loan to you by BACS on the date this agreement is made (which is the day it is signed by us and we have entered into the guarantee and indemnity agreement with your guarantor). The Loan will be advanced to the bank account of your nominated guarantor under this agreement (see clause 1 of the Terms and Conditions).

Repayments

42 repayments of £88.46 each, due and payable on the same day of each consecutive month commencing one month from the date of this agreement, or, if a date is inserted here, on that date.

Security Required

You are required to nominate an individual to act as a guarantor and indemnifier (the "Guarantor"). Before we provide you with the Amount of Credit under this agreement, the Guarantor is required to execute a Guarantee and Indemnity Agreement to secure your obligations under the Loan Agreement. This means that the Guarantor promises to fulfil your obligations under the Loan Agreement if you fail to do so yourself.

Costs where you miss payments or break the agreement

Default interest is payable on late payments at the rate of 23.50% (fixed) per annum, calculated and applied to the overdue sum on a daily basis.

We charge a missed payment fee of £15.00 in respect of each repayment not paid by its due date, to cover our reasonable administrative costs.

We may also pass onto you our reasonable costs we incur where (i) you or your guarantor move without telling us and we need to employ the services of a tracing agent to establish your address; and/or (ii) we have to take steps to enforce our rights against you and your guarantor under this agreement (including legal fees and court costs).

Missing Payments

Missing payments could have severe consequences, including legal proceedings, the possibility that your home may be repossessed and the possibility that missing payments may make it more difficult and/or expensive for you to obtain credit in the future. Where we have to enforce our rights through the courts we may seek an attachment of earnings order or a charging order (or an Inhibition in Scotland). You will also be liable for the additional costs set out above.

Statements of Account

You are entitled, under S77B of the Consumer Credit Act 1974 ("the Act") to receive, on request and free of charge at any time during the period of this agreement, a statement of account showing: the details of each instalment owing under the agreement; the date on which each instalment is due, the amount and any conditions relating to its payment; a breakdown of each instalment showing how much comprises capital, interest and any other charges.

Right of Withdrawal

You are entitled, under S66A of the Act, to withdraw from this agreement without having to give any reason within 14 days beginning with the day after the day on which you receive a copy of the executed agreement. You may give us notice of withdrawal orally, by telephoning 0330 1200 313 or in writing to 1plus1 Loans Limited of The Old Tannery, Eastgate, Accrington, Lancashire BB5 6PW or by email to info@kadmagnate.local. If you withdraw from this agreement you must repay, without delay and no later than 30 calendar days beginning with the day after the day you gave us notice of withdrawal, the credit amount together with interest at the above interest rate, from the date the credit was provided until the date of repayment. Interest accrues at £1.34 per day. The credit amount and interest are payable by cheque/BACS to us at 1plus1 Loans Limited (at the above address).

Your Right to Repay Early

You are entitled, under S94 of the Act, to repay your indebtedness under this agreement early, in whole or in part. To make early repayment in full you must give us written or oral notice (tell us in writing or over the phone) that you wish to make early repayment and then make the early repayment. To make partial early repayment you must give us written or oral notice and then make the partial early repayment within the period of twenty-eight days beginning with the day after that notice is received by us or on or before any later date specified in the notice.

Compensation in the case of early repayment

We may claim compensation under S95A of the Act for the cost incurred by us as a result of your early repayment, if your early repayment exceeds £8,000 or where you made more than one early repayment, the total of early repayments in any 12 month period exceeds £8,000. The compensation will not exceed the lower of 1% of the early repayment where the outstanding period of this agreement exceeds one year, 0.5% where it is equal to or less than one year, or the total amount of interest that would have been payable under the agreement if you had not repaid early.

Ombudsman Scheme

If you are not a business debtor, you have the right to complain to the Financial Ombudsman Service at Exchange Tower, London E14 9SR. If you are a business debtor you may have a right to complain to the Financial Ombudsman Service (www.financial-ombudsman.org.uk).

Terms and Conditions

The terms and conditions set out above form a part of this credit agreement.

Supervisory Authority

Financial Conduct Authority, of 25 The North Colonnade, Canary Wharf, London, E14 5HS, is our supervisory authority under the Financial Services and Markets Act 2000 for consumer credit business.

This is a Credit Agreement, regulated by the Consumer Credit Act 1974. Sign it only i

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