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Pre-Contract

Pre-Contract Credit Information

(Standard European Consumer Credit Information)

    • Contact Details
      Creditor Address Telephone Number: RateSetter Lenders c/o Retail Money Market Limited trading as RateSetter which has its registered office at 6th floor, 55 Bishopsgate, London EC2N 3AS; tel: 020 3142 6226
      Primary Credit Intermediary: [ ]
      Credit Intermediary: Retail Money Market Limited trading as RateSetter which has its registered office at 406 Great Guildford Business Square, 30 Great Guildford Street, London SE1 0HS; tel: 020 3142 6226
    • Key Features of the credit product
      The type of credit: Fixed Sum Loan Agreement
      The total amount of credit. This means the amount of credit to be provided under the proposed credit agreement or the credit limited: [ ]
      How and when credit would be provided: The total amount of credit minus the RateSetter Fee of [ ] and the Credit Rate Fee of [ ] will be advanced to your nominated bank account on the working day following the date of the Agreement.The duration of the credit agreement: [ ] months.
      Repayments: [ ] payments of [ ] followed by 1 final payment of [ ].
      The total amount you will have to payThis means the amount you have borrowed plus interest and other costs: [ ]
    • Costs of the credit
      The rates of interest which apply to the credit agreement: [ ] This is the interest rate applied to the loan and does not include fees.
      Annual Percentage Rate of Charge (APR) The APR is there to help you compare different offers: [ ] This represents the APR for the whole [ ] months. This is the total cost including the Interest Rate, Credit Rate Fee, RateSetter Fee and Service Rate Fee expressed as an annual percentage of the total amount of credit.
    • Related costs
      Charge for using a specific payment method: Payments by debit card will be subject to a charge of £1.50
      Any other costs deriving from the credit agreement: The following fees will be added to the loan: the Credit Rate Fee, RateSetter Fee, and Service Rate Fee [ ].
      Costs in the case of late payments: Interest will be charged on late payments at the Interest Rate. A further £10 will be charged for the administration of payment recovery. Missed payments will give rise to additional costs to cover the additional interest arising on the late payment and the administration charge of £25 plus 25% plus VAT of what is recovered after the loan has been put into default.
      Consequences of missing payments: Missing payments could have severe consequences and may result in legal proceedings being taken against you. You will have to pay additional charges and may have to repay what you owe early. Missing payments could also make it more difficult for you to obtain credit in the future.
      Consequences of missing payments: Missing payments could have severe consequences and may result in legal proceedings being taken against you. You will have to pay additional charges and may have to repay what you owe early. Missing payments could also make it more difficult for you to obtain credit in the future.
    • Other important legal aspects
      Right of Withdrawal: You have the right to withdraw from the credit agreement before the end of 14 days beginning with the day after the day on which you have received the credit agreement. To do this you must give us notice. You can give notice by emailing us at contactus@ratesetter.com, or by calling us on 020 3142 6226. If you exercise your right to withdraw from the credit agreement you must repay to RateSetter by direct debit, bank transfer, or debit card the credit advanced within 30 days. It is important to note that you will be charged interest accrued to the date of settlement which will be two days after the date of cancellation and will be calculated at [DAILYINTERESTAMOUNT] per day.
      Early repayment: You have the right to repay the credit early at any time in full or in part.
      Consultation with a Credit Reference Agency: If we reject your credit application on the basis of information obtained from a credit reference agency we must tell you this and must give you details of that agency.
      Right to a draft credit agreement: You have a right upon request to obtain a copy of the draft loan contract free of charge. In the event your application is declined we will not provide you with a copy of the agreement.
      The period of time during which the creditor is bound by the pre-contractual information: 30 days from the date that you receive this information.
    • Additional information in the case of distance marketing of financial services
      (a) concerning the creditor
      Registration Number:
      The supervisory authority:
      Interim Permission Reference Number 633741:
      The Financial Conduct Authority:
      (b) concerning the credit agreement
      Right to cancel the credit agreement: If you wish to cancel your credit agreement with us you should notify us by emailing us at contactus@ratesetter.com or by calling us on 020 3142 6226.
      The law taken by the creditor as a basis for the establishment of relations with you before the conclusion of the credit agreement: The law of England and Wales.
      The law applicable to the credit agreement and/or competent court: This Credit Agreement is governed by and construed in accordance with the law of England and Wales and you submit to the non-exclusive jurisdiction of the English courts.
      Language to be used in connection with the credit agreement: English
      (c) concerning redress
      Access to out-of-court complaint and redress mechanism: If you have any complaints you should email contactus@ratesetter.com whereupon RateSetter will respond within one working day, alternatively you can call us on 020 3142 6226. If our complaints process has not resolved your complaint to your satisfaction then you have a right to complain to the Financial Ombudsman Service. You can write to the Financial Ombudsman Service, South Quay Plaza, 1873 March Wall, London E14 9SR