1. Important
(a) These terms and conditions form part of your agreement with No Worries Loans Ltd ("No Worries") and must be read carefully, since they apply as soon as we send them to you. We cannot accept responsibility for you failing to read them.
(b) You authorise and request us and any associate companies to act immediately on your behalf and to solicit you for entry into other credit agreements or transactions with us or associate companies by mail, telephone or other means during and after this Agreement has ended; also to disclose or register details of any agreement for any purpose connected with our group's business including disclosing details of, and relating to, the transaction evidenced by any agreement to any credit reference agency unless you instruct us immediately by telephone which we will record and retain for the duration of the relevant period.
(c) Your agreement with No Worries will be valid for a period of 6 months from the date of issue in order to maximise the chance of acceptance. We will not be held responsible for any losses, financial or otherwise, resulting from any misinterpretation of these terms and conditions or the No Worries Application Form.
(d) Your agreement with No Worries does not constitute a guarantee of a loan as the lender grants the final approval and evidence may be required.
(e) We do not offer loans or finance. The lenders or financiers decide whether to approve loan or finance applications, how much to lend or finance, at what interest rate, on which terms and on what evidence of ability to repay. Where we give examples they are only illustrations. We do not warrant that examples are the actual rates and amounts because the lenders or financiers decide whether to give approval for any loan or finance and on what terms according to your specific circumstances.
2. General
(a) We will act as your Credit Broker for the purpose of securing a loan or finance.
(b) We will endeavour to match your details with one or more of our associate companies immediately on receipt of your completed application and our administration fee ("the Fee") and for your protection we will ensure that any loan or finance will be regulated by the Consumer Credit Act 1974 ("the Act") which covers any loan or finance agreement ("the Loan Agreement") that you may enter into and lays down certain requirements for your protection, which must be satisfied when the Loan Agreement is made. If they are not, the lender cannot enforce the Loan Agreement without a Court Order.
(c) Unless you inform us differently, you agree to us using telephone, email, SMS, fax and/or post to contact you to discuss products and services without having first been expressly invited to do so. This will override any registrations you may have with any preference services. To communicate in writing we may use the last postal address you give us. Please note that to improve our service we can monitor and record any telephone conversations with you for security, training and evidential purposes.
3. Enquiries and Searches
(a) In trying to get you a loan or finance, make decisions about them, manage your accounts, utilities, premiums, debts or provide any other services, we or associate companies (including lenders and financiers) may use credit scoring or other automated systems to assess your application, make decisions and verify your identity. These systems include searching your records with credit reference agencies, employers, fraud and money laundering prevention agencies and the electoral register as well as providing them with information. These agencies can add your details to their records for other organisations to do searches. Where there are joint clients, both records are processed by the agencies and a link between you can be created.
(b) It is important that you give us accurate information. We may check your details with the fraud prevention agencies and other credit reference agencies and if you give us false or inaccurate information and/or we suspect fraud we will record this with these agencies which may have a detrimental effect on your credit records.
In the event that you provide us with inaccurate or misleading information, we reserve the right to reclaim any losses incurred by us in performing the service to you.
4. Partners
(a) If there is more than one applicant then you are both jointly and severally liable for all obligations set out in the Application Form.
(b) In the case of a joint application where only one party is present or a sole applicant who declares a financial association with another (e.g. the name of a partner) then by signing the No Worries Application Form you declare that you are entitled to disclose information about your joint applicant and/or anyone else referred to by you and where the application is joint you authorise us to search for information at the credit reference agencies about both of you.
(c) If you are a sole applicant, information held about you by credit reference agencies may be linked to records relating to your partner and you agree that any associated records will be used to help assess your application.
(d) For all other joint applicants, you both understand that the details of this application recorded at the credit reference agencies will be about both of you.
(An association will therefore be created at the credit reference agencies which link your financial records. You both understand that each other's information will be taken into account in all future applications by either or both of you and this linking will continue until one of you successfully files a disassociation with the credit reference agency.)
(e) If you authorise anyone else to give us instructions, any action we take on their instructions will be binding on you. If there are joint applicants each has authority to deal with us for the other.
Notice to one is notice to both. We can require joint instructions. If instructions from different joint applicants are inconsistent, we can choose to take no action until we receive satisfactory instructions. To withdraw any authority you must notify us in writing.
5. Our Services and Fees
(a) By introducing you to a lender we act only as an introducing agent on your behalf. We do not act on behalf of the lender or represent the lender.
(b) Before we consider your application you must pay the Fee in advance.
(c) If we introduce you to a lender that makes you an offer of a loan then in addition to the Fee we may also receive a commission from the lender. You hereby agree that we may keep such commission for our own account.
(d) If we are unable to introduce you to a lender that makes you an offer of a loan we may be able to offer or recommend other services to you.
(e) If we are unable to introduce you to a lender with whom you enter into a loan within the 6 months we act for you, and we have not provided you with any other service, then you have the right to repayment of the Fee less the sum of £5.00 which we are entitled to retain pursuant to the Act. Refunds must be requested in writing to avoid repayments being sent to a wrong address.
(f) If you enter into a loan with a lender we introduce you to within the 6 months we act for you or take another service then as well as keeping the sum of £5.00 for the service we provide you as broker we are also entitled to keep the balance of the Fee as payment for our services.
6. Cancellation
Under Financial Services (Distance Marketing) Regulations 2004 you have a right to cancel your application within 14 days of receiving these terms and conditions and receive a refund. If you wish to cancel your application, you must write to No Worries Loans Ltd notifying us. In this event we will refund your fee within 30 days of the date on which we receive your written request to cancel your application. Any such requests should be made to: Customer Service Department, No Worries Loans Ltd, Tintern House, William Brown Close, Llantarnam Industrial Park, Cwmbran, NP44 3AB.
7. Exclusions
(a) We shall not be liable for any breach of obligation to you by any bank, counterparty, intermediary or other third party with whom you do business. You will be liable for any loss you suffer as a consequence of you providing inaccurate information. If there is any partial non-performance of our obligations, provided we have made reasonable endeavours to perform them you must give us full credit for doing so. We will incur no liability for any loss arising from non-performance by us which is caused by something beyond our reasonable control including changes in the law or regulations affecting how we normally operate.
(b) In the event that any of these terms (each of which is severable) is for any reason illegal, invalid or unenforceable, such provision is to be deemed modified sufficiently to render it enforceable, legal and valid and of similar effect as we intended. Apart from provisions expressly covering associate companies, nothing in these terms is enforceable by anyone who is not a party to them.
8. Complaints
We operate a complaints procedure. If you wish to make a formal complaint, please send your complaint in writing to the following address: Customer Service Department, No Worries Loans Ltd, Tintern House, William Brown Close, Llantarnam Park, Cwmbran, NP44 3AB. We will issue our final response to you within 8 weeks of us receiving your complaint. If you are unhappy with our response or have not received our final response after 8 weeks you may refer your complaint to: Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR.
Marketing and Market Research
We may contact you about services or products offered by us or other companies approved by us which we believe you may be interested in, or to carry out market research about our services or products or those of third parties. We may also pass information to other companies approved by us so that they may contact you about services or products which they believe you may be interested in. Contact for these purposes may be by post, telephone, SMS, email or by other means as we may agree with you from time to time. This will override any registrations you may have with any preference services. In order to determine which services or products might be of interest to you, you agree that we may analyse information about you and your conduct of the account, including your payment record. Please note that to improve our service and for security purposes, we both monitor and record telephone calls.
Homeowners Accepted