* Loan Terms*
Dear xxx,
In response to your loan request, find the terms and conditions for the
loan amount of the loan amount required. Review and update me so we can
have the various loans transferred immediately.
*1. Business Loan (xxx)*
Loan Balance: $1,500,000.00
Adjusted Loan Balance: $1,570,680.63
Loan Interest Rate: 3.00%
Loan Fees: 4.50%
Loan Term: 6 years
Monthly Loan Payment: $23,864.41
Number of Payments: 72
Cumulative Payments: $1,718,237.70
Total Interest Paid: $218,237.70
However you will be charged a loan fee of 4.50% for the business loan of
$1,500,000.00 for xxx. If you are in agreement with
the loan terms and below conditions we will immediately move to loan
transfer process.
*Terms & conditions*
*1. Parties*
This Agreement is between Ulster Finance Homes, 31 Kenlis St, Banbridge,
Down BT32 3LR, United Kingdom and the borrower listed above the mail.
(xxx)
*2. Definitions*
The words below have the following meanings in this Agreement:
"Act" is the Consumer Credit Act 1974.
"Amount of credit" is also referred to as "your loan" and is
the amount of credit to be provided under this Agreement.
"Total charge for credit" is the total amount of interest
charged on the Amount of credit.
"Total amount payable" is the total amount payable by you
under the terms of this Agreement, being the sum of the Amount of credit
and the Total charge for credit.
"You"/"your" means the borrower(s).
"We"/ "us"/"our" means Ulster Finance Homes, its successors
and assigns.
*3. Joint borrowers*
If this is a joint Agreement, you shall each be fully liable for all sums
outstanding under the Agreement and not just half the balance.
*4. Communications*
Unless otherwise agreed, all communications and documentation in relation
to this Agreement will be in English.
*5. Your right to withdraw*
If you wish to withdraw from this Agreement you can do so as set out in
the "Your right to withdraw" section on the front of this Agreement. You
must notify us of your intention to withdraw from this Agreement in one
of the following ways: (a) in writing by completing the "Right to Withdraw"
form (enclosed with the letter advising you that your funds have been
issued) and sending it to Personal Loans Admin, Ulster Finance Homes, 31
Kenlis St, Banbridge, Down BT32 3LR, United Kingdom; or (b) by phoning us
on +44703 198 0535/+1512 562 3022
You must also repay the amount you owe us within the timescale set out in
this Agreement by sending a cheque for the amount of your loan, made
payable to Ulster Finance Homes at the address shown above. The amount you
owe us will be the amount of your loan. We will not charge you any
interest. If you do not repay the amount you owe us within 30 calendar days
from the day after the date you notified us of your intention to withdraw,
we will recover it as a debt through the Courts.
*6. Your right to request a statement of account*
You have the right to receive, on request, and free of charge at any time
throughout the Term of this Agreement, a statement in the form of a table
showing (a) details of each remaining payment owing under this Agreement;
(b) the date on which each payment is due; (c) the amount and any
conditions relating to the payment; and (d) a breakdown of each of the
installments showing how much is a capital repayment and how much is an
interest payment and, (e) if applicable, any other charges. Where the
Interest Rate is variable or the other charges may be varied under this
Agreement the statement shall indicate clearly and concisely that the
information contained in the statement is valid only until the rates of
interest or charges are varied.
*7. Your right to repay early*
*7.1 Partial Early Repayment*
If you decide to make a partial early repayment you should notify us that
you wish to do so. Your payment will only be treated as a partial early
repayment if you are paying us some of the amount payable by you before
the time fixed by this Agreement. If you notify us that you wish to make a
partial early repayment, you must make the payment (a) within 28 days
beginning with the day following the day on which notice was received by us
that you wished to do this; or (b) on or before any later date stated in
your notice to us.
Any partial early repayment of your loan will reduce the amount on which
we charge interest from the day after we receive your payment. The effect
of any partial early repayment will be to reduce the Term of your loan.
If you wish to make a partial early repayment of the amount you owe us
under this Agreement you must notify us in one of the following ways (a) in
writing to Personal Loans Admin, Ulster Finance Homes, Kings Park Road,
Moulton Park, Northampton NN3 6NW; or (b) by phoning us on +1512 562
3022. You must then make your payment by sending your account reference
and your name along with a cheque, made payable to Ulster Finance Homes,=
to
the address shown above.
You also have the right to request a statement showing the effect that
this additional payment has had on the balance outstanding under this
Agreement. You can make this request either at the same time as making your
early payment or after that time. We will send you a statement within 7
working days after we receive your request.
To request a partial early repayment statement please call us on +1512
562 3022.
*7.2 Full Early Settlement*
If you want to pay off the entire loan early, you must request a
settlement quotation from us. We will confirm to you in writing the amount
required to settle your loan in full. This settlement quotation is valid
for twenty eight days from the date you request it.
Your settlement quotation will include interest up to and including this
date. In addition, in accordance with the regulations made under the
Consumer Credit Act, if your loan term is greater than 12 months you will
pay an additional 30 days interest. If you decide to settle your loan we
must receive the amount detailed in the settlement quotation by the stated
date.
To request a full settlement quote please call us on +1512 562 3022.
*8. Our right to demand earlier payment*
We may demand immediate and full repayment of your loan if:
You gave us false or incorrect information when you applied
for the loan; or
You are more than fourteen days overdue with any amount you
owe us.
If you fall behind with your repayments we may pass information about the
amount you owe to a credit reference agency. Credit reference agencies
record this information and companies may use it to assess any future
loan/credit applications you might make. This may affect your ability to
get credit.
*9. Missing or underpayment*
We need to make you aware of some of the consequences of not making your
agreed payments. If you underpay or miss any payment due under the credit
agreement you will be in default on the agreement and:
You may pay more overall.
We may register your details with credit reference agencies.
You may find it more difficult to obtain credit in the future.
Legal proceedings could be taken against you that could result
in any outstanding debt being secured against any property you own.
If you have difficulties making payments under your Agreement please
contact us.
*10. Interest for late payments and charges*
Interest at the Interest Rate shown on this Agreement will be payable on
any amount not paid by its due date (including any balance which may become
payable under section 9 of the Terms and Conditions of this Agreement)
calculated from the due date until actual payment to us, to run both before
and after any judgment.
All reasonable expenses, charges and costs incurred in locating you or in
collecting any sums due and unpaid shall, if we wish, be recovered from you
should you fail to comply with any provision of this Agreement.
*11. Appropriation*
You agree that we may use money from any other account(s) you hold with
Ulster Finance Homes, Derbyshire Building Society, Cheshire Building
Society or Dunfermline Building Society or any other trading division of
Ulster Finance Homes to reduce or repay any sum you have failed to pay on
your personal loan
*12. Credit checks*
An 'association' between the joint applicant and any individual
identified as your financial partner, will be created at credit reference
agencies, which will link your financial records. This association, and any
others that either of you may have will be taken into account in all future
applications by either or both of you. This linking will continue until one
of you successfully files a 'disassociation' at credit reference agencies.
We may make periodic searches within Ulster Finance Homes, at credit
reference agencies and fraud prevention agencies to manage your account
with us, to take decisions regarding credit, including whether to make
available or to continue or extend existing credit. The searches will not
be seen or used by other lenders to assess your ability to obtain credit.
*13. Concessions*
No concession or arrangement we agree with you will alter the terms and
conditions of this Agreement.
*14. Change of address*
You will notify us in writing within seven days of any change in your
address.
*15. Complaints*
We have a complaints procedure and for more information, or to make a
complaint, please: (i) visit our website and click on the option "Contact
us"; (ii) phone 0800 30 00 11; or (iii) visit one of our branches. If you
are not satisfied with the way we have dealt with your complaint you may
refer it to the Financial Ombudsman Service. You can also refer your
complaint to them first without giving us the opportunity to resolve it,
but if you do this, they will only consider your complaint with our
consent. The Financial Ombudsman Service provides a free, independent,
complaint resolution service.
*16. English Law*
You and we can choose the law which applies to this Agreement. Unless you
and we agree otherwise, English Law will apply.
*17. Regulating authority*
The supervisory authority for Consumer Credit Agreements under the Act is
The Financial Conduct Authority (FCA), 25 The North Colonnade, Canary
Wharf, London E14 5HS.
*Important information*
All communications and documentation in relation to this contract will be
in English. If you are in breach of your loan agreement, we may use any
money you have in another Ulster Finance Homes account to repay or reduce
the amount you owe us on your loan.
*Lending Code*
Ulster Finance Homes subscribes to the Lending Code.
*Finance & Leasing Association Code of Practice*
The Finance & Leasing Association (FLA) is the major UK representative
body for the UK finance and leasing industry.
The FLA campaigns for best practice in lending and leasing. The Code sets
out standards of good practice for the finance and leasing industry and is
intended to assure all who obtain finance from full members that they are
doing business with reputable organizations.
Ulster Finance Homes, as a member of the Finance and Leasing Association
(FLA), promises to uphold the 14 key commitments outlined below. These
commitments apply to the conduct of business for all products and services
provided to customers.
act fairly, reasonably and responsibly in all our dealings
with you
make sure that all services and products meet the requirements
of this Code
make sure that all services and products meet all the rel=
evant
laws and regulations, including the Consumer Credit Act 1974 and all
regulations made under it
not discriminate against you because of your race, sex,
disability, ethnic background or sexuality
help you when you need information and guidance, including
explaining how the products will affect your finances
act honestly and try to make sure that credit brokers, and all
other suppliers of goods and services we do business with, do the same
not pressurize you to enter into any agreement with us and try
to make sure that credit brokers, and all other suppliers of goods and
services we do business with, do not pressurize you
correct mistakes, handle complaints quickly and
sympathetically, and tell you how to take your complaint forward if you are
still not satisfied
co-operate with regulators The Financial Conduct Authority
(FCA) and organizations that handle complaints (such as FLA or the
Financial Ombudsman Service)
consider cases of financial difficulty sympathetically and
positively
follow any guidance notes that FLA issues, where relevant to
the products and services we offer
treat all your personal information as private and
confidential, and run secure and reliable systems
train our staff to make sure that the procedures they follow
reflect the commitments set out in this Code
Publicize the Code and make copies freely and readily
available to you.
Thanks as i await your response and cooperation in this loan transaction.
Regards,
Mr. Luca Harvey
Ulster Finance Homes Loan Officer
31 Kenlis St, Banbridge, Down BT32 3LR, United Kingdom
Branch Office: 7601 April Court
North Richland Hills, TX 76182
+44(0) 703 198 0535, +1512 562 3022
