Important information about your Barclayloan This is information that you need to know before you sign for your Barclayloan and will help you decide whether Barclayloan is suitable for you. Please consider this information alongside the Agreement and Pre-Contract Credit Information. If you have any questions at all, please get in touch by phone or come into your nearest branch. Barclayloan is best for people who want to spread repayments over at least 12 months. It might not be the best form of credit if you want the money for a shorter time. You can use it for purchases (such as a car or home improvements) or to consolidate existing borrowing. If you’re using your loan to repay existing borrowing with Barclays, we will use the money to repay this if you ask us. However, it’s your responsibility to pay off borrowing with other lenders. You must make a payment each month. Full financial details including the amount of each repayment and the total amount that you have to pay are in the Agreement and on the first page of the Pre-Contract Credit Information. If, at any time, you choose to change your payment date to a later one, you will pay more interest by the end of the loan - that’s because you’ll have had the money for longer. This loan has a fixed interest rate, so you can be certain about how much you have to pay. In certain circumstances we have the right to lower your repayments - this is covered in more detail in your terms and conditions. If you make all the repayments as set out in the Agreement, the cost of your loan is fixed. Our interest rates are based upon your personal circumstances, the loan amount, and the repayment term. Before you sign the agreement, it’s vital that you consider carefully whether you can afford the repayments, taking all your financial commitments into account. It’s also important to think about what the effects of any change in employment prospects or change of circumstances might be. Before taking out the loan, please let us know if anything about your circumstances could affect your ability to make repayments in the future. If you change your mind. After you sign the agreement, we’ll send you a letter confirming that the loan has been opened. From the day after you receive this, you have up to 14 days to change your mind and tell us that you want to withdraw by coming into a branch, calling or writing to us. You’ll then have to repay us the loan amount plus interest within 30 days, starting from the day after you told us. You will find further details within the Agreement and Pre-Contract Credit Information. If you repay the loan within 7 days of opening, we won’t charge you anything. If you take out this loan to repay another loan with us and choose to withdraw from the loan, doing this won’t reinstate the original loan. If you miss payments we’ll contact you about it. We also have to report missed payments to credit reference agencies, which may affect your credit record. This could make it harder for you to get credit in the future. And the cost of the loan can increase, as you will be charged more interest. If you break our agreement. If you don’t make payments when they’re due or you regularly or seriously break our agreement, we may require you to repay the loan early. We can also charge for other reasonable costs that arise as a result. We may use money you have in another account with us to reduce the amount you owe us, or to repay the whole amount (following the terms and conditions of that other account if we do this). Depending on the circumstances we may take legal action against you. If we do this, we may ask the court for a charging order. This means that we can be paid out of money you receive if you sell your home. You may also have to pay our legal costs. If you want to repay your loan early you can do so in part or completely whenever it suits you. If you do, we’ll charge you a fee equal to 30 days’ interest based on the amount you repay. You have to pay this even if you are repaying your loan early by taking out a new loan with us. About your rights: to find out more about the rights you have with regard to this Agreement, you can contact your local Trading Standards Department or your nearest Citizens Advice Bureau.
Agreement reference number: 3853927485/0916
PRE-CONTRACT CREDIT INFORMATION (Standard European Consumer Credit Information)
(Standard European Consumer Credit Information) 1. Contact details Creditor.
Barclays Bank PLC
Address.
Registered address: 1 Churchill Place, London E14 5HP
Web address.
www.barclays.co.uk
If you applied through Moneysupermarket.com Credit intermediary.
Moneysupermarket.com
Address.
Registered address: Moneysupermarket House, St David's Park, Ewloe, Chester, CH5 3UZ
Web address.
www.moneysupermarket.com
2. Key features of the credit product The type of credit.
Fixed sum loan
The total amount of credit.
£8,000.00
This means the amount of credit to be provided under the proposed credit agreement or the credit limit. How and when credit would be provided.
We’ll send the money to your account as soon as we receive your signed Barclayloan Agreement or, if you choose a later date, on that date (up to one month from the date of the agreement). If we have agreed with you that some or all of the loan is to repay existing borrowing with us, then we will repay that borrowing on your instructions. However, it’s your responsibility to make arrangements to pay off borrowing with other lenders.
The duration of the credit agreement.
24 months
Repayments.
You will have to pay 24 monthly payments of £350.22.
The total amount you will have to pay.
£8,405.28
This means the amount you have borrowed plus interest and other costs.
3. Costs of the credit The rates of interest which apply to the credit agreement 4.793% per annum fixed Annual Percentage Rate of Charge (APR).
4.9%
This is the total cost expressed as an annual percentage of the total amount of credit. The APR is there to help you compare different offers. Related costs Any other costs deriving from the credit agreement.
A fee of 30 days' interest on money you repay early (in addition to any other interest due), unless you exercise your right to withdraw (see section 4 below).
Costs in the case of late payments.
If you miss a payment, you will have to pay interest at the agreed rate on the amount overdue.
Consequences of missing payments.
If you don't make payments when they are due or you regularly or seriously breach the agreement: you may also have to repay the loan early, your credit records may be affected in a way that makes it more difficult or expensive to obtain further credit, and we may take legal action to recover what you owe. If we do this, we may ask the court for a charging order. This
means that we can be paid out of the money you receive when you sell your home. You may also have to pay our legal costs. We may use money you have in another account with us to reduce the amount you owe us, or to repay the whole amount. We will follow the terms and conditions of that other account if we do this. 4. Other important legal aspects
Right of withdrawal.
You have a right to withdraw from this agreement by writing to Barclays Bank plc, P O Box 362, Manchester M60 3PN or calling us on 0800 716 598 within 14 days, starting on the date after you receive our letter confirming that the loan has been opened.
Early repayment.
You can repay the agreement early in full or in part at any time but you may have to pay the early settlement fee we mention above.
Consultation with a Credit Reference Agency.
We must generally inform you immediately and without charge if we reject your credit application on the basis of a consultation of a credit reference agency.However, this loan has already been approved and we will not make any further credit checks with a credit reference agency in relation to your application.
Right to a draft credit agreement.
You have a right to see your credit agreement free of charge. A copy of the agreement is included in this agreement pack.
The period of time during which the creditor is bound by This information is valid for 30 days from when we sign the the pre-contractual information. credit agreement. 5. Additional information in the case of distance marketing of financial services (a) concerning the creditor Registration number.
Firm Reference Number 122702.
The supervisory authority. (b) concerning the credit agreement The law taken by the creditor as a basis for the establishment of relations with you before the conclusion of the credit agreement.
The Financial Conduct Authority.
The law applicable to the credit agreement and/or the competent court.
The terms of the credit agreement are governed by English law and subject to the non-exclusive jurisdiction of the English courts.
Language to be used in connection with the credit agreement.
We will communicate with you, and provide information and contractual terms, in English.
English law
(c) concerning redress Access to out-of-court complaint and redress mechanism.
If you have a complaint that we do not resolve to your satisfaction, you may be able to refer it to the Financial Ombudsman Service by: - writing to them at Exchange Tower, London E14 9SR - calling 0845 080 1800 or - emailing
[email protected].
Barclayloan Agreement - Your Copy Fixed Sum Loan Agreement regulated by the Consumer Credit Act 1974
Barclays Bank PLC (“we”) 1 Churchill Place, London E14 5HP agree to provide ** **************** ******* of ***************, ***********, *, *, *, * (“you”) with a Barclayloan (the “loan”) on the terms and conditions set out in this agreement. For legal reasons, if you applied through Moneysupermarket.com, we have to tell you that the credit intermediary is: Moneysupermarket.com, Moneysupermarket House, St David's Park, Ewloe, Chester, CH5 3UZ. Loan Terms:
APR 4.9%
You can see how your interest is calculated in ‘About the interest on your loan’ Loan amount:
£8,000.00
Total amount you’ll repay:
£8,405.28
Monthly repayments of:
£350.22
Date of first repayment:
One month after your loan is opened - see ‘Your payment dates’ for further details
Number of monthly repayments:
24
Loan term:
24 months
Total charge for credit:
£405.28
Interest rate:
4.793% per annum fixed
If you change your mind When you sign and return this Agreement we’ll send you a letter confirming that the loan has started. From the day after you receive this letter, you have up to 14 days, to let us know if you don’t want the loan (by coming into a branch, calling or writing). You don’t have to pay an early settlement fee, or give us a reason. You’ll then have to repay us the loan amount plus interest within 30 days, starting from the day after you told us. We charge interest of £1.05 for each day the loan is outstanding - so the sooner you pay it back, the less interest you pay. If the money was paid into your Barclays account and is available as cleared funds, unless you tell us you want to repay in some other way, or that you want to keep the money for the full 30 days, we’ll take the loan amount plus interest from that account within 2 working days. If the money isn’t available in your account at that time, we’ll continue to check until the end of the full 30-day period and transfer money as it becomes available. If as part of this, you actually choose to repay the loan within 7 days of opening, we won't charge you anything. If you have taken out this loan to repay another loan with us, withdrawing from this loan won't reinstate the original one. If you want to cancel, write to Barclays Bank plc, PO Box 362, Manchester M60 3PN or call us on 0800 716 598. For full terms and conditions please see ‘About your Barclayloan’.
About your Barclayloan Your terms and conditions These are the terms and conditions for your Barclayloan, and supplement the financial information set out in the document headed ‘Barclayloan Agreement’. They are part of our contract with you and signing the Barclayloan Agreement means that you agree to be bound by these terms and conditions. How Barclayloan works Barclayloan is a fixed interest rate loan. It is unsecured, and will remain unsecured even if you have or take out a mortgage with us, or give us any other security. We’ll lend you the agreed amount of money for the agreed time, and you make monthly repayments. Your repayments include interest for the money borrowed, although this does not include any extra interest you may have to pay if you change your payment date or do not make your payments on time. Interest is calculated daily on the amount of the loan still owing. Your loan repayments will start one month after your loan is opened. The agreement starts on the day you send the signed document back to us. We’ll pay your loan into the account set out in the Agreement, either as soon as we receive it, or on a later date (within a month from the date we signed the agreement) if you request. Also, and only if you have asked us to, we will use the loan to repay any existing loans and other borrowing you have with us. If you have to pay any tax as a result of your loan, this is your responsibility.
About your interest and payments About the interest on your loan Interest on your loan balance is calculated daily at the interest rate shown in the agreement from the date we pay the loan to you until it is fully repaid. So you pay more interest at the beginning of the loan when the amount you owe is high and less as the amount you owe decreases. If you miss a payment or change your payment date, the amount of the interest you have to pay may increase and be more than shown in the agreement because you’ll have had the money for longer. This interest is added to the loan, and it becomes payable to us on the earliest of:
- the end of the loan term - you repaying the whole loan early - any request we make for you to pay in full (if you have broken the agreement, for example) To set up this agreement, we needed to calculate the APR (Annual Percentage Rate). We have done this on the assumption that you keep the loan for the full term of the agreement, that the first payment is paid one month after your loan is opened and that you make each monthly payment on the same date each month. Your payment dates The date in the month your first payment is made will be the date of all your other payments - unless that’s a weekend or Bank Holiday, in which case payments are due on the next business day. Or, where your payment date (e.g. the 31st) doesn’t occur, it will be due on the last business day of the month. If both happen at once, payment is due on the next business day. If you would prefer a different payment date, you can change it to a later one within 25 days of the original date, providing you haven’t breached the agreement. Please give us 14 days to set this up and remember this will impact the amount of interest you’ll pay. If you want to repay your loan early You can repay the loan in part or completely whenever it suits you. If you repay in full, we’ll charge a fee equal to 30 days’ interest based on the amount you owe. If you make any payment to us other than your fixed monthly payments, we will treat this as a partial early repayment. If you repay partially, we’ll charge a fee equal to 30 days’ interest based on the amount you repay. We’ll apply this fee to your loan after the repayment. Your loan will continue and if all remaining payments are made as they are due, then the loan may finish early. However, if you decide to withdraw from your agreement (within 14 days starting on the day after you receive your letter confirming that your loan has started), we won’t make this charge. If you want to make an early repayment - write to us at Barclays Bank plc, P O Box 362, Manchester M60 3PN or - call us on 0800 716 598 or - come into a branch or - make a repayment via Online/Mobile Banking. Our Price Guarantee If you make a successful claim under the terms of the Price Guarantee provided with this agreement, then within 7 days after we have determined that your claim was successful, we will reduce the interest charged under this agreement so that the APR is equal to that of the competing offer; recalculate your monthly repayments to reflect the reduced interest; vary the Loan Terms set out in this agreement to reflect the reduced interest; write to you with details of your recalculated repayments and the changes made to the Loan Terms; and refund the difference between the monthly repayment amounts if you have made any payments. Getting information about your loan At any time, you can ask us for a repayment schedule free of charge: this will give details of all your future repayments including the dates payments are due, and a breakdown of each repayment showing how much is going towards the original loan amount, and how much is for paying interest. It will also detail any money you should have paid us. You will also get a loan statement once a year free of charge. About your privacy We will look after the information you provided us with when you applied for your loan, and use it for processing your application and administering your loan, for research or analysis, and to prevent and detect fraud. We will also share it with fraud prevention agencies for these purposes, and keep it for as long as the law and legitimate business purposes allow. When we write to you confirming that your loan has started, we’ll give you full details about how we will use your information (including how your information will be used with credit reference agencies).
About our agreement If you break our agreement If you miss a payment, we’ll contact you about it. You will carry on being charged interest on the overdue amount. We have to report missed payments to credit reference agencies, which may affect your credit record. The majority of loans go very smoothly, but we need to make sure you understand that if you don’t make payments when they’re due or you regularly or seriously break our agreement, we may require you to repay the loan early. We can also charge for other reasonable costs that arise as a result. We may use money you have in another account with us to reduce the amount you owe us, or to repay the whole amount, following the terms and conditions of that other account if we do this. Your credit records may be affected in a way that makes it more difficult or expensive to obtain further credit. Depending on the circumstances, we may take legal action against you. If we do this, we may ask the court for a charging order. This means that we can be paid out of the money you receive when you sell your home. You may also have to pay our legal costs. We will not have to pay the loan to you, or if you have already received it, we can demand early repayment of the total amount outstanding, if you:
- supply incorrect or misleading information in connection with your loan application - break this agreement regularly or seriously - are, or are likely to become, insolvent or in breach of any other credit agreement with us or with any other lender - are or become, for any reason, a person to whom we are prohibited from lending under any legal or regulatory requirements that are binding upon us in the UK or elsewhere. How we can vary the agreement Where we reasonably decide that it is in your interests (for example, if you are in financial difficulties, or we have made a mistake which inconveniences you) we can make certain limited changes to this agreement. By giving you advance notice in writing, we can change any or all of: - your monthly repayment amount, BUT we cannot raise it above the figure shown in this agreement; - your payment dates, BUT (as long as you have not broken the agreement) we can’t ask you to repay any amount earlier than you are required to pay it; - the loan term, BUT (as long as you have not broken the agreement) the loan term won’t be any shorter than shown in this agreement; - any part of the agreement if a law, regulation, or decision by a regulator or the Financial Ombudsman Service says that we must. We will be entitled to collect the revised payments and any other sums becoming due through any Direct Debit instruction that we have from you. If we don’t have a Direct Debit instruction from you, this agreement obliges you to provide one within 5 working days. Variations under our Price Guarantee also apply to this loan. Legal information The Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS is the supervisory authority of consumer credit agreements. Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. We’ll always communicate with you in English. Our relationship with you (including discussions before you signed this agreement) is covered by English law and is subject to the non-exclusive jurisdiction of the English courts. If you have a complaint If you have a problem and we are unable to resolve your complaint internally to your satisfaction, you may be able to refer it to the Financial Ombudsman Service
- in writing at Exchange Tower, London E14 9SR - by calling 0845 080 1800 - emailing
[email protected]
Our Price Guarantee If you find a better APR elsewhere, we’ll match it
How does Price Guarantee work? If you find another unsecured personal loan (outside the Barclays Group) on a like-for-like basis with a lower APR than your Barclayloan offer, you may be eligible for our Price Guarantee. If you complete a claim and we agree, once your Barclayloan is open we’ll lower the interest rate to produce an APR equal to that of the competing loan. The total interest you’ll pay and monthly repayments will then also be lower than detailed in your Barclayloan agreement. And we’ll put all this in writing. How do I claim? If you wish to claim under our Price Guarantee, here’s what you need to do: - Carefully read the enclosed Terms and Conditions to make sure you’re eligible for Price Guarantee - Request a Price Guarantee claim form by coming into branch or calling us - Send the completed form, along with a copy of the competing loan agreement, to the freepost address on the form. You must claim under the Price Guarantee within 30 days from the date we signed your Barclayloan agreement. What we do next We’ll write to you within 5 working days of receiving your claim form to let you know whether you have been successful (please allow time for the post). If you’re successful, once your Barclayloan is open we’ll lower the interest rate to produce an APR equal to that of the competing loan, so that your total interest and monthly repayment amount go down. We’ll write to you to confirm the new monthly payments you will need to make. Changes will be backdated to the loan opening date and if you’ve made any payments, we’ll give you back the difference. If your claim isn’t successful, we’ll write to let you know why and your loan will continue under the terms of the enclosed agreement.
Price Guarantee Terms and Conditions Price Guarantee is only available if you open a Barclayloan. About claiming You must claim under the Price Guarantee within 30 days from the date we signed your Barclayloan agreement. You can only make one successful claim for each Barclayloan. You must apply using our Price Guarantee claim form which you can obtain from us. You must provide us with written confirmation of the competing loan offer. This should be the loan agreement or you could provide pre-contract credit information supported by evidence satisfactorily demonstrating that the offer is available to you subject only to you signing a loan agreement. We’ll check the validity of your claim within 5 working days of receiving your request and let you know the result. Quotations and Pre-contract Credit Information alone from another provider are not acceptable as they do not give evidence that a personal offer has been made. A photocopy of the agreement will be fine, but we may ask you for the original agreement if we need to check it. If you provide an original document, we will return it within 3 weeks of assessing your claim. Photocopies will not be returned and will be securely destroyed by us. Please remember that applying for multiple loans may impact your credit rating, so think carefully before making extra applications. About the competing loan you’re offered To qualify, the loan you’ve been offered elsewhere (excluding the companies within the Barclays Group), must be an unsecured, fixed rate loan and comparable to Barclayloan on a “like for like” basis, with a lower APR. We’ll assess this against the criteria set out in these Terms and Conditions and determine “like for like” based on all of the following: - Loan amount - must be equal to or up to £99 lower than your Barclayloan offer - Number of repayments - must exactly match your Barclayloan offer - Loan term - must not exceed the term on your Barclayloan offer by more than 3 months - Customer name - must be exactly the same as your Barclayloan, i.e. multiple borrowers are excluded - Loan structure - must be fixed rate with even, or nearly even payments (ie. no ‘balloon payments’). Other terms such as early settlement fees or other charges won’t be considered as part of our assessment. The competing offer must be available to the general public and be verifiable by Barclays. It must have been offered no more than two months before the date on which your Barclayloan was offered and must still be available to you at the time of your claim. Loans that the Price Guarantee doesn’t apply to The Price Guarantee doesn’t apply to the following rate or loan types: - Loans where the funds are not available for immediate use - Discount rates offered only to members of groups or individuals who meet previously specified criteria - Rates that are not immediately available, promotions that are not at everyday rates and products which are sold under different terms and conditions, such as special financing (i.e. dealer loans, promotional loans for specific goods) - Loans that are secured or guaranteed - Loans being charged interest at a variable rate - Credit products which are not personal loans including but not limited to lease, contract hire, hire purchase or conditional sale agreements - Loans where interest has been temporarily or permanently suspended (including 0% or reduced interest rate loans for an initial period) - Loans to support periods of study, or the period immediately following completion of studies (for example, student loans or graduate loans).
