Terms & Conditions

1. General

1.1 This Agreement becomes binding on You, when both You and Us have signed it.

1.2 The amount of credit set out overleaf is described as “the Loan” in these terms and conditions.When the Loan is made We will open an account in your name(s) and debit it with the total amount of the Loan and any other fees shown as being added to your balance overleaf.

2. Interest

2.1 We describe how interest is charged overleaf. The rate of interest charged is also set out overleaf, as varied by Us under clause 2.2 and/or clause 2.3 below.

2.2 We may reduce the interest rate for any reason but are not obliged to do so. We may increase the rate where our costs increase for any one or more of the following reasons:

(a) to reflect a change which has occurred, or which We reasonably think will occur, in Our
costs of funding;
(b) to reflect a change in the law or any decision of the courts or any Ombudsman;
(c) to reflect any change in regulatory requirement or guidance;
(d) to ensure Our business is operated prudently, efficiently and competitively.

2.3 We may also increase the interest rate for any other valid reason not referred to in clause 2.2 above which We reasonably consider requires such a change. If We do make a change under this clause 2.3 and you make early repayment in full within 120 days of receipt of notice from Us of the change, you will only have to pay Us the outstanding balance at the date of repayment.

2.4 Please note the interest rate does not track another rate such as Bank of England Base Rate. Movements in Base Rate will not automatically be reflected on your account.

2.5 Any increase in interest rate under this clause 2 will be proportionate to the reason(s) for the increase.

2.6 Any change in interest rate will take effect on Your account following a minimum of 7 days written notice. Your monthly payment will change under clause 3.3 on 28 days notice.

3. Payments

3.1 All payments by You must be made by Direct Debit. Payments may be made by other methods with Our consent only.

3.2 You agree to make the payments overleaf in full when due and without being asked.

3.3 Your monthly repayment shown overleaf may be varied either (a) in the event that the interest rate is varied in accordance with clause 2.2 or 2.3 above or (b) in the case of the last monthly repayment to ensure the Loan is repaid in full at the end of the term. If We agree to change the date of your monthly repayment, We may also vary the amount of the monthly repayment to ensure that Your Loan will be paid in full, subject to any accrued charges, on the date on which the last of the monthly payments is due.

3.4 You may also have to pay other charges which will be added to your balance if We provide certain services in accordance with Our tariff of Service Fees published from time to time. We may change these charges from time to time to reflect changes in Our costs.

3.5 All changes will be set out in Our tariff of Service Fees. When this changes from time to time we will send you a copy. You must keep all copies we send you.

3.6 All charges will be added to your balance subject to any period of notice we have to give you under the Consumer Credit Act 1974. They will then attract interest but we will not charge interest on this interest if we cannot do so under the Consumer Credit Act 1974.

4. Capital Repayments

4.1 You may make partial early repayments of capital at any time provided that the payment is at least £500. A charge will be applied calculated as if you had settled this Agreement early under clause 5.1 calculated on the amount repaid early.

4.2 Partial early repayments of capital will be applied to your account firstly in settlement of any arrears (including default charges) and then in reduction of the capital balance.

4.3 When a partial early repayment of capital is made, we will either reduce the term of your Loan or recalculate your monthly payments at your option.

5. Early Repayment

5.1 You may end this Agreement at any time by paying to Us a sum, calculated in accordance with the Section “Amounts payable on Early Settlement” overleaf. You should
contact us in writing to request a settlement figure.

6. Default

6.1 If any monthly repayment remains unpaid for more than 7 days after its due date We may give notice to You, pursuant to the Consumer Credit Act 1974, requiring payment by a specified date not less than 14 days later. If the monthly payment is not paid in full by that date We will be entitled to demand repayment in full calculated in accordance with the Section “Amount Payable on Early Settlement” overleaf.

6.2 We will also be entitled to terminate this Agreement (after service of any notice required under the Consumer Credit Act 1974) if you in any way perpetrate attempt or are involved in any act of fraud or other criminal activity in respect of Nemo Personal Finance Limited or the Loan, or if any information provided by You as part of the application is incorrect or misleading in any material manner. On such termination We shall be entitled to demand repayment calculated in the same manner as in clause 6.1 above.

6.3 You are responsible for all reasonable legal and other costs and expenses incurred by Us in attempting to obtain repayment of any money You owe Us. Interest on any amount which becomes due and payable (including any costs and expenses) shall be charged in accordance with clause 2 above, until payment both before and after judgment.

7. Miscellaneous

7.1 If You used a broker, as well as any fee he may charge You (which will be shown on the front of this Agreement), he will receive a commission from Us. Your broker must tell You how much. We will check with You before completion whether You have been told how much and by proceeding with your loan You are confirming Your consent to this. Your loan may also count towards any additional, volume related commission we pay the broker. As Your broker received a commission he may not be able to provide You with unbiased advice.

7.2 If there is more than one borrower, references in this Agreement shall refer to each and every person who signed this Agreement and the liability of each such person to Us shall be joint and several so each is fully liable for the full amount due to Us at any time. References to this Agreement shall include the Mortgage Deed (or Standard Security where the property is located in Scotland) which is incorporated into this Agreement.

7.3 We may assign, transfer or otherwise sell some or all of Our rights under this Agreement (including for the avoidance of doubt the Mortgage Deed (or Standard Security where the property is located in Scotland), which forms part of it) to any person without Your consent. Any assignment, transfer or sale will not prejudice Your rights.

7.4 Any temporary waiver or concession by Us in exercising any of Our rights under this Agreement shall not affect our ability to exercise them later.

7.5 Any notice to be given to You by Us under this Agreement shall be deemed to have been validly given if sent to You by ordinary post to the last address in the United Kingdom to have been notified to Us.

7.6 If You have a complaint about this Credit Agreement or the service You have received from Nemo Personal Finance Limited then we would like to hear from You. You can contact Us by phone, in person or in writing either by post or e-mail. Details of Our complaints handling procedures can be obtained from Nemo Personal Finance, Trafalgar House, 5 Fitzalan Place, Cardiff, CF24 0ED, or telephone 029 2020 7053 or e-mail customerservices@nemoloans.co.uk If we are unable to resolve the complaint to your satisfaction You may refer it to the Financial Ombudsman Service. Details are available on our website.

7.7 The terms of this Agreement and our dealings with You with a view to entering into this Agreement are governed by English law subject to the exclusive jurisdiction of the English courts or Scottish Law subject to the exclusive jurisdiction of the Scottish courts if the security property is located in Scotland. We will only write to You in English.

7.8 There may be other taxes or costs that You have to pay in connection with this Agreement, but are not paid through us. If there are any, You must account for these yourself.

7.9 All fees listed include VAT at the relevant rate if, based on the legislation, they are applicable. Nemo Personal Finance Limited provides credit products to consumers and is licensed for this and other related activities by the Office of Fair Trading (Licence Number 564773). Nemo Personal Finance Limited is a company registered with the Registrar of Companies for England and Wales, Company Number 5188059, Registered Office Principality Buildings, Queen Street, Cardiff, CF10 1UA. Nemo Personal Finance Limited is authorised and regulated by the Financial Services Authority for arranging and advising upon general insurance.

What We will use Your information for

It is as important to Us as it is to You, that personal information about You and Your account is treated as private and confidential.

The only times We will disclose information about You are set out below:

1. Where We have Your consent.
2. If it is in the public interest to do so.
3. When We are required to do so by law and voluntary codes.
4. To Our agents and others, who do work on Our behalf.
5. To obtain quotes from providers of insurance on an ongoing basis.

We will use and share information:

1. To administer Your account.
2. To prevent fraudulent activity or for debt recovery.
3. For customer surveys.
4. For management reports.
5. To help Us build a picture of You for credit/insurance assessment and marketing purposes.

If We transfer Your information to a service provider or agent in another country, We will make sure that the service provider or agent agrees to apply the same levels of protection as We are required to apply to information held in the UK and to use Your information only for the purpose of providing the service to Us. Both incoming and outgoing telephone calls may be recorded and monitored for training and quality control, to monitor compliance with any regulatory requirements or procedures and to establish facts.

Credit Products

We will check your details with a fraud prevention agency / agencies. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies. Law Enforcement agencies may access and use this information.

We and other organisations may also access and use this information to prevent fraud and money laundering, for example, when:

• Checking details on applications for credit and credit related or other facilities
• Managing credit and credit related accounts or facilities
• Recovering debt
• Checking details on proposals and claims for all types of insurance
• Checking details of job applicants and employees

If you do not provide information which is relevant to the service requested we may not be able to offer you the service you require. Information from this application and the
subsequent management of the account will be maintained on both our accounting systems and central databases.

Please contact us at Trafalgar House, 5 Fitzalan Place, Cardiff, CF24 0ED, if you want to receive details of the relevant fraud prevention agencies. We and other organisations may access and use from other countries the information recorded by fraud prevention agencies. A copy of any personal data held by our agencies can be made available to you, on payment of a fee. You have a legal right to see these details. For more details write to the Data Controller at the address on the front of this agreement. If any data is inaccurate it will be corrected without delay. Credit reference agencies collate information about how people in a household manage the money they borrow from lenders, whether it be a mortgage, personal loan, credit card, overdraft or any other type of loan.

When making lending decisions We will carry out a search with one or more licensed credit reference agencies who will retain a record of the search which will be seen by other
organisations that make searches. This information will be used in a decision making process called “credit scoring”. If Your application is declined You may have a right of appeal. We may also make further searches during the term of the Agreement to assist in the
management of Your account.

Information held about You and Your account by the credit reference agencies may already be linked or “associated” to records relating to Your partner or anyone that You may be financially “associated” with. Your ability to obtain credit will be influenced by the records held by the credit reference agency on You or any person associated with You in this way.

Another person’s records will be “associated” with Yours by Us when:

1. You make a joint application.
2. You advise Us of a financial association with another person.
3. If the credit reference agencies have existing linked or associated records.

This “association” will link Your records at the credit reference agencies and will be taken into account in all future applications by either or both of You. This shall continue until one of You applies to the credit reference agencies and is successful in filing a “disassociation”.

You MUST therefore ensure when making a joint application or advising Us of some other
financial association that You are entitled to:

1. Disclose information about Your joint applicant and anyone referred to by You.
2. Authorise Us to search, link or record information at (a) credit reference agency/ies about You and any one referred to by You.

On a monthly basis, we will give credit reference agencies details about payments You make to Us and the status of Your account, to help Us and other lenders make credit decisions about You (and the people associated with You) in the future.

If You exceed agreed limits, and the amount owed is not in dispute, and You fail to make satisfactory repayment proposals following Our formal demand, We may register this with credit reference agencies.