At H&T, we appreciate that you have a choice when arranging short term finance and believe that our terms and conditions of business should be as fair and as transparent as possible.
We make short term cash loans to approved customers for lump sum repayment on their next paydays. These “PayDay Advance” are typically for between 7 – 30 days.
A pay day loan is a short term product, designed to provide you with a cash advance until your next pay day and help you with your temporary cash flow problems. It should not be used for long term borrowing requirements as it may prove to be an expensive way to borrow for anything but the short term.
As a responsible lender, H&T will review your account on a regular basis and where appropriate will seek to offer you an alternative product that may be more suited to your needs or look to agree a repayment program where it is apparent that a PayDay Advance is not the right option for you.
All of our agreements are “running account” agreement; this means that when you take out a Payday Advance with us you open an account with H&T under which you may be able to draw down further loans from us in the future.
This does not mean that you are obliged to continue borrowing from us and you may stop using or close your account at any time by settling the outstanding balance.
By signing the agreement, whether physically or electronically, you are agreeing to repay your account on the due date(s) by way of a continuous payment authority using your debit card. This payment will only be due when there is a balance outstanding on your account.
We shall only debit your account for the amounts expressly set out in the loan agreement and on the date or dates as expressly set out in the loan agreement unless otherwise specifically agreed with you after the loan has been issued, for example as part of a payment plan.
In the event that the repayment dates set out in the loan agreement should fall on a Saturday, Sunday, or a public holiday, then payment may be taken on the next available working day. In the event that following default on the loan (a) reasonable attempts to contact you fail; or (b) you unreasonably refuse to agree a date on which payment can be made; or (c) you provide false information, then we will attempt to settle the outstanding balance on your next repayment date, failing which we may try to take payment at 7 day intervals thereafter for all or 50% of the amount outstanding to a maximum of 2 attempts per day.
Your right to WITHDRAW
You have the right, under section 66A of the Consumer Credit Act 1974, to withdraw from this Agreement for a period of 14 days beginning with the day after this Agreement is made and you have the signed copy. This will occur when you sign the agreement sent to you (which we have already signed) electronically by entering your name and authentication code sent to your mobile phone and send it back to us. Please make sure you save a hard copy (print one off for your records if contracting online).
You may exercise this right by giving us notice in writing or orally via the contact details provided. In the event that any such notification is made after the payment by us of the advance to you under this Agreement, you will be required to repay within 30 days of providing notice of withdrawal the amount of the advance to us in full, together with interest accrued calculated on a daily basis at the contractual rate for the period from the date we advance the amount of credit to you to the date that sum is repaid to us.
If you do not exercise the right to withdraw, you will still be able to settle this loan at any time prior to the repayment date. You can settle this loan by paying the outstanding balance that is due and payable in full.
Your right to withdraw from this Agreement will be lost if you do not exercise the right within the withdrawal period specified above.
We consider each lending decision individually on the basis of what we know about your circumstances and your credit and repayment history. We strictly observe the requirement to undertake due diligence on all our customers, this means we will not complete any transaction and pay out funds until we are sure we know who you are in accordance with the provisions of the Money Laundering Regulations 2007.
The total cost of credit is £15.00 per month, per £100 borrowed, over a period of between 7 and 30 days. It is a relatively expensive form of credit which is not suitable for long term or regular borrowing. After your first loan advance has been repaid, you may apply to draw down future short-term credit against your credit limit and we will consider your application in accordance with our assessment of your creditworthiness and our responsible lending criteria.
We may, on occasion, act as a credit broker and introduce you to other lenders. This will be made clear to you at the time and we will provide the full contact details of the relevant other lender. Whilst we make every effort to ensure that a loan offer will be made to you before effecting an introduction, in these circumstances, the final authority to make a loan offer to you rests with the other lender. You agree that we are not responsible for the decision of another lender to whom we have introduced you. You agree that in accepting a loan from another lender you are bound by their terms and conditions, interest charges and procedures and our terms do not apply.
We operate under Consumer Credit Licence number 327551 issued by the Office of Fair Trading.
If you would like to make a complaint, please email us at firstname.lastname@example.org in the first instance. We will acknowledge your complaint within 1 business day. Within 5 business days we will respond fully to your complaint having had access to an officer with the authority to settle the complaint (including, where appropriate, an offer of redress). (If the complaint is not resolved by close of business on the business day after the complaint is received, we will send you a copy of this complaint handling procedure). If you are not satisfied with our first response then you can write directly to the Chief Executive who will review your case and respond within 5 business days. Complaints about the lending process or loans that we cannot settle within 8 weeks after the first complaint can be referred to the Financial Ombudsman Service. We will provide details when you are entitled to such a referral or on request.
Any relevant terms and conditions, policies and notices shall be governed by and construed in accordance with the laws of England without giving effect to any principles of conflict of law. You hereby consent to the exclusive jurisdiction of the English courts in respect of any disputes arising in connection with the web site, or any relevant terms and conditions, policies and notices or any matter relating to or in connection therewith.
If any part of these terms and conditions is found to be illegal or unenforceable, such finding will not affect the validity or enforceability of the remainder of the terms and conditions.
You agree that all documents that we are entitled to send you electronically may be delivered to you at the latest email address you gave us.