Monthly Payments Confirmation
You have opted to pay your insurance premium/s by monthly Direct Debit. Please be aware that using premium finance will be more expensive compared to paying for your policy in full.
Frank Pickles Insurance Brokers are acting as a credit broker and not a lender. We use Close Brothers Limited trading as Close Brothers Premium Finance, referred to as Close Brothers to provide finance. We may receive a commission for introducing customers to them.
Are you happy for us to pass your personal data to them so they can set up this up?
If you have any questions about the credit agreement you can call them on 0333 321 8566.
Assessment
To assess your application, Close Brothers may use credit scoring, credit reference agencies and automated decision-making systems. They will also carry out Anti-Money Laundering checks. These assessments will be completed after they’ve received your credit application. They’ll write to you if they need any further information. If for any reason your credit assessment isn’t successful, you’ll need to find another way to pay for your insurance policy.
Key information
Close Brothers will send you a pack, either by email or by post, which will include information about your credit agreement and let you know if there are any actions you need to take. It’s important you read this information as it will help you decide whether taking finance is right for you.
There are some important things you need to know about the credit agreement:
• It’s only suitable for financing your insurance policy
If you don’t make your payments on time:
• you’ll be charged a default fee of £30.00; and
• you may be charged late payment interest until the payment is made, meaning the cost of your borrowing may increase.
• your insurance policy may be cancelled; and
• court action may be taken against you for any outstanding monies. You’ll 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.
How 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 enter into the agreement. Details of how to request this will be in the information pack you’ll 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 you do not understand any of the information provided, or is there anything you’d like explained in further detail, please let us know.
Would you like to set up your monthly finance payments now?
Setting up the payment
Can you confirm you hold a UK Bank or Building Society account in your name which allows Direct Debits?
Your Direct Debit Details
Direct Debits can now be set up online. All the normal Direct Debit safeguards and guarantees apply.
Is the account that is to be debited in your name and are you the only person required to authorise debits?
• Confirmation of the bank details you’ve provided, along with a schedule that explains the amount and dates of your payments will be included in the information pack. The pack will be sent within 3 working days. It’s important you read this information so you are ready for the payments to be collected.
• The Direct Debit will appear as ‘CLOSE BROS LTD T/ACLOSEBROSPREMFI’ on your bank statement.
• If there are any changes to the amount, date, or frequency of your Direct Debit, Close Brothers will always give you two working days’ notice.
Please correctly complete all fields highlighted in red adhering to our terms of business.
This is a non advised sale which means we offer no advice or any recommendations for our products. It is your responsibility to understand what you are buying. We provide you with the information you need to make an informed choice regarding whether our product meets with your requirements and it is your decision to purchase this product.
IMPORTANT - Unless any agreement to the contrary is reached between us, this contract is subject to English law and all communications will be in English.
MATERIAL FACTS DEFINITION - Material facts are those that are likely to influence an insurer in the acceptance of this proposal and it is essential that you should disclose them. If you are in doubt as to whether a fact is material then, for your own protection, you should disclose it since failure to do so could affect the operation of your policy.
YOUR DUTY OF DISCLOSURE - You must take reasonable care not to make a misrepresentation to the insurer. This means that all the answers you give and statements you make as part of your insurance application, including at renewal and when an amendment to your policy is required, should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean that part of or all of a claim may not be paid.
Your duty of fair presentation applies at the start of the policy, at renewal and when any variation of the policy is arranged. If you fail to make a fair presentation, the insurer may refuse to pay your claim or reduce the settlement amount, depending on the circumstances.
Frank Pickles Insurance Brokers Ltd is authorised and regulated by the Financial Conduct Authority.
Your documents will be emailed to you shortly; please take the time to read everything and advise us immediately if any information is incorrect or needs amending. We also recommend that you familiarise yourself with the claims procedure and contact numbers detailed in the policy wording.
It is our intention to provide a high level of service at all times. If you do have reason to make a complaint about our service you should contact us immediately. Our complaints procedure is detailed in our terms of business and you may be entitled to refer the matter to the Financial Ombudsman Service.
I have read and agree the statements above
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