— Premium Finance Information

Data Protection

You confirm that your personal data can be sent to PremFina for the administration of your Credit Agreement.

All your personal data will be processed in accordance with the applicable data protection laws.

Premium Finance

The premium finance is for the sole use of funding insurance premium(s).

Should you have any questions about your Agreement, you can contact PremFina on 0330 165 9367.

Full details of the Agreement are in the Welcome Pack PremFina will send you via email or post. This will comprise the Credit Agreement and the Standard European Consumer Credit Information (‘SECCI’). It is important that you read and understand all the documents you will receive.

Assessment

To assess your application, PremFina will use your record from a Credit Reference Agency (‘CRA’) and an automated decision-making process.

If your application is unsuccessful, you will be notified, and you will need to find an alternative way to pay for your insurance premium.

Where you borrow from PremFina, it is important that you understand details of your credit facility and how you manage it will be given to the CRA by PremFina and recorded by them. If you borrow and do not repay in full and on time, the CRA will record the outstanding debt. This information may be supplied to other organisations by the CRA and Fraud Prevention Agencies (‘FPA’) to perform similar checks and to trace your whereabouts and recover debts that you owe. Records are retained for 6 years after the account is closed, whether settled by you or defaulted.

Right to Withdraw

You have the right to withdraw from the Credit Agreement without giving a reason before the end of 14 days beginning with the day after you enter into the Agreement. You must notify PremFina orally or in writing as set out in the Agreement. If you wish to exercise your right to withdraw, you must repay no later than 30 calendar days of giving notice of withdrawal, the credit plus any interest which has accrued from the date the credit is advanced until the date it is repaid.

Key Information

There are some features of the Credit Agreement you should be aware of:

• If you fail to pay an instalment on time, you may be charged a default fee.
• If you fail to make any payments due, any policy(ies) of insurance being funded may be cancelled and the Credit Agreement terminated. PremFina would be entitled to any premium refund and money paid to a claim for repayment of your account balance.
• Missing payments may also affect your credit rating.
• Note also that PremFina can end the Agreement on two months’ notice, in which case you will have to repay the outstanding balance. PremFina can also suspend or withdraw your rights to make drawings in certain circumstances as set out in the Agreement.

Direct Debit Guarantee

Your WelcomePack sent by PremFina will include the payment schedule outlining the dates and amounts of all payments that need to be made under this Agreement.

All Direct Debits are protected by a guarantee. This guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits. If there are any changes to the amount, date or frequency of your Direct Debit, you will be notified 7 working days in advance of your account being debited or as otherwise agreed. If an error is made in the payment of your Direct Debit, you are entitled to a full and immediate refund of the amount paid. You can also cancel a Direct Debit at any time by simply contacting your bank or building society.