Please note that this monthly Direct Debit facility is provided by Close Brothers Limited T/A Close Brothers Premium Finance (‘Close Brothers Premium Finance’). You are applying for a running account credit agreement with Close Brothers Premium Finance to pay your insurance premiums. The credit is not suitable for any other use.
Any request for future drawings on the agreement should be made through us.
In the event that you have any questions in relation to the credit being provided by Close Brothers Premium Finance, please contact us on 0870 990 7967. Please do bear in mind that your credit application must be completed via this website and cannot be completed by telephone.
We will receive a commission payment from Close Brothers if your application is successful. Close Brothers will send you an information pack which will include details about the commission arrangements and how it is calculated for your information. Commission affects the amount you pay as it is included within the total cost of your finance. We set the interest rate for your finance.
Assessment
Any offer of credit is conditional until Close Brothers has assessed your application. They may use credit scoring information from one or more credit reference agencies and automated decision making systems in making this assessment. Where a credit search is made, this will leave a hard footprint on your credit file, Close will also carry out fraud and anti-money laundering checks.
If your application is successful, Close Brothers will confirm by email and ask you to electronically sign the credit agreement. If your application is unsuccessful you will be contacted to make alternative arrangements to pay for your insurance. If you have any questions about the credit application, please call Close Brothers between 8.30 am to 6pm, Monday to Friday on 0333 321 8567.
To avoid any delay in setting up your credit agreement, we have set out the pre-contractual credit information for you to read below:
Cost
If your application is successful the total amount you will pay for the credit agreement, the interest rate and monthly payments are detailed above.
There are some important things you need to know about the credit agreement:
- It is only suitable for financing your insurance policy
- If you do not make your payments on time:
- you will be charged a default fee of £25; and
- you may be charged late payment interest until the payment is made, meaning the cost of your borrowing may increase.
- If you do not make payment by the required date:
- your agreement may be terminated, and you will incur a fee of £25
- your insurance policy may be cancelled; and
- you will be liable for all sums owing and any charges.
- Missing payments may affect your credit rating which may make it more difficult or expensive for you to obtain credit in the future.
Right to withdraw
Should you change your mind, you can withdraw from the credit agreement free of charge, within 14 days starting the
day after you receive the agreement signed by Close Brothers. Details of how to request this will be in the information
pack you will receive from Close Brothers. You’ll then need to find another way to pay for your insurance policy.
Customer support
Also in the pack will be a link to their website and details about how you can contact them about other matters such as
payment support, communication preferences, or any other queries or concerns about their product or service.
If your application is accepted, Close Brothers Premium Finance will send you by post the information you need before signing up to the credit agreement. You will be sent a copy of the credit agreement which you must sign and return to Close Brothers Premium Finance at the address provided.
In future if there is a change to the date, amount or frequency of your Direct Debit, Close Brothers Premium Finance will always notify you 2 working days (a working day being any day other than a Saturday, Sunday or public holiday in England) in advance of your account being debited. In the event of any error, you are entitled to an immediate refund from your bank or building society. You have the right to cancel the Direct Debit Instruction at any time, and this guarantee is offered by all the banks and building societies that take part in the Direct Debit Guarantee. A copy of the safeguards under this guarantee will be sent to you with Close Brothers Premium Finance’s confirmation letter.
Please note that under the terms of the credit agreement, you must pay each minimum monthly repayment by Direct Debit.
Thank you very much for your Direct Debit Instruction details. Here is the Direct Debit Guarantee for your information.
