Payment terms and conditions

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The Direct Debit Guarantee

The Guarantee is offered by all banks and building societies that accept instruction to pay Direct Debits.

If there are any changes to the amount, date or frequency of your Direct Debit, Close Brothers Premium Finance will notify you 7 working days in advance of your account being debited or as otherwise agreed.

If you request Close Brothers Premium Finance to collect a payment, confirmation of the amount and date will be given to you at the time of the request.

If an error is made in the payment of your Direct Debit, by Close Brothers Premium Finance or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society.

If you receive a refund you are not entitled to, you must pay it back when Close Brothers Premium Finance asks you to.

You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.


Loan Agreement Features

Policy Expert is registered with the Financial Conduct Authority as a Credit Broker and where an insurance policy is purchased by paying by Direct Debit Policy Expert will arrange credit facilities through an exclusive arrangement with Close Brothers Limited, trading as Close Brothers Premium Finance. Policy Expert will not charge you a fee for this credit broking service.

The cost of the loan includes the insurance premium itself, interest at the agreed rate and may also include administrative fees. These are illustrated in your Welcome Pack that will be sent to you. It is very important that you read the pre-contractual information included within the Welcome Pack and take time to consider all the information carefully.
It contains details of the cost of your loan, the payments that you will need to make, the dates on which these will be due as well as the terms and conditions of the loan agreement itself, which is Close Brothers Premium Finance legal contract with you.
This information will enable you to make an informed decision about whether or not this is the right product for you.

Should you default on your agreement then a default fee of £30 will be applied when collecting the arrears. In the event of the loan arrears not being cleared by a specific date, which will be advised to you, Close Brothers Premium Finance may terminate your loan and enforce any security given by you under the terms of the agreement.
This could result in the cancellation of your loan, your insurance policy, or both. You will be liable to pay all sums owing to Close Brothers Premium Finance as well as any charges that Close Brothers Premium Finance may impose upon you.
This may also affect your credit rating.

You have the right to withdraw from the loan agreement Close Brothers Premium Finance is offering you within 15 days commencing from the day that you receive the Welcome Pack. There will be no charge for withdrawal from the loan agreement within the defined time frame and any money collected in respect of this loan will be refunded.
If you do withdraw from the loan agreement then you must find an alternative method of payment for your insurance premium.

You can repay this loan at any time, either in full or a partial repayment. Where partial repayment is made you must continue to meet the remaining minimum monthly repayments.

If you have any questions about the agreement, want to repay the loan or discuss making any changes to the agreement you can do so by contacting Close Brothers Premium Finance on 0333 3218 566 or by writing to Close Brothers Premium Finance at:
Close Brothers Premium Finance,
Wimbledon Bridge House,
1 Hartfield Road,
London,
SW19 3R

Payment Terms & Conditions last updated: 17th August 2015.