About your statement:

Q. Does the statement show all of my transactions?
A. Due to recent reforms in the Consumer Credit Act 1974 we are required to produce statements from the 1st October 2008.  Therefore your first statement will only contain all transactions from the 1st October 2008.  Following your first statement you will receive regular statements on an annual basis.  These will contain all transactions for a 12 month period.

Q. Why has my Closing Balance increased?
A. The following are most common reasons why your total balance may have increased:
Administration Charges – where charges have been made to cover administration costs, these will be added to the total balance outstanding.
Monthly repayments not received – if the full monthly repayments required are not received it will increase the balance.
Insurance – if you have not provided evidence of buildings insurance noting our interest then we will add it to our block policy.  This means that a premium will be charged in addition to administration costs.

Q. How often will I receive a loan statement?
A. You will receive a statement annually.  It will be sent shortly after the anniversary date of your loan.

Q. What can I do if I require further clarification of my statement?
A. You can refer to our complete interactive guide to the statements and our contact details.

Payments:

Q. Can I change the way I repay my loan?
A.  If you currently make your payments by standing order from your bank, we recommend you consider switching to Direct Debit. We are seeing more and more of our customers choose Direct Debit as their preferred method of payment. 

The benefits of paying by Direct Debit

• You can be sure that the correct amount of money is being collected
• If an error should occur you are guaranteed a refund from your bank
• It’s easier for you than Standing Order as you won’t need to amend payments through your bank should your payments change

Please contact us to switch to Direct Debit.

Q. Can I make regular overpayments to repay my loan early?
A. Yes, you are able to repay the loan at any time, but please refer to your original agreement for the terms and conditions of repaying a loan early.

Q. What if I’m experiencing difficulties in paying my loan repayments?
A. If you have any difficulties making payments under your agreement please contact us if you have not already done so.

About the loan:

Q. Can I extend/shorten the term of my loan?
A. Although we can’t extend the term of your loan, we usually find that customers who wish to do this also have other debts that are adding up.  In these instances we may be able to offer a new loan to consolidate everything into one monthly payment and this can be spread over a longer term.

Q. Can I borrow more later on?
A. We are always happy to consider applications for further credit.  Any application will be underwritten in the usual way.

Q. What does a fee/charge relate to?  
A. There are two types of charges that may be incurred.  An administration fee that relates to services provided and default charges that relate to non-payment of your account.  Full details can be found on our Tariff of Charges.

Q. Is there a charge for an interim statement?
A. Yes.  Please refer to our Tariff of Charges.

Q. Is there a charge for a copy of a previous statement?
A: Yes. Please refer to our Tariff of Charges.

Q. What happens if I want to move house?
A. You would need to redeem the loan with us.

Q. What happens if I want to change my mortgage lender?
A. As your loan is secured on your property it is important that you speak to us if you are considering remortgaging with a different lender or borrowing more money on your existing mortgage. 

Change of details:

Q. How do I inform you of a change of my personal details?
A. Please write in to our Customer Services Department with the details.

About Payment Protection Insurance (PPI):

Q. What does PPI cover me for?
A. Depending on the level of cover you have selected, PPI covers you in the event of death, accident, sickness or unemployment. The Insurer will make payments to your loan account if these events occur.

Q. Am I covered for the life of the loan?
A. The PPI you have taken covers you for the first 3 years of the loan. 

Q. How do I make a claim on my PPI?
A. All our claims are handled by Direct Group. You can make a claim by calling the dedicated claims line on 0844 412 4224.

About Buildings Insurance:

Q. Why are there charges shown relating to buildings insurance?
A. If you have not provided us with a buildings insurance policy with our interest noted, we will add your property onto our block policy. You will be charged a buildings insurance premium and an administration fee.

Q. Why do I have to note your interest?
A. If you have a loan that is secured on your property, it is a condition of the loan agreement that you arrange and maintain adequate buildings insurance. By noting our interest on your policy, your Insurer will inform us of any material changes that will enable us to assess the adequacy of your current insurance arrangement.