Terms of agreement

1. Loan
We agree to lend and you agree to borrow the Amount of Credit.

2. Payment by you
2.1 On or before the date of this agreement you agree to pay the supplier of the goods the deposit shown overleaf.
2.2 You agree to pay us the total amount payable by the repayments and at the times shown
2.3 It is essential that you make all payments in full and on time. If you pay by post, you will be responsible for any payment lost in the post.
2.4 You will make all payments by direct debit, standing order or such other means as we may require.
2.5 If any amount paid by you is insufficient to discharge the full balance then outstanding, the amount received shall be applied: first towards repayment of interest; second towards payment of charges; and third towards repayment of the credit to be provided under this agreement.
2.6 For customers requesting loans for home improvements / redecoration it is the customer’s responsibility to ensure that their tenancy agreement allows them to carry out the improvements or that they have received the relevant permission to carry them out.

3. Change of address
You must let us know, in writing, within seven days about any change of your address.

4. Right to demand earlier payment
We will assume that you refuse to comply with the terms and conditions of this agreement if any of the events set out below happens. We will then be entitled to demand that you pay us the outstanding balance under this agreement (together with interest) by sending you a 'default notice'. The events are:

4.1 If you do not pay us any amount you owe us within 14 days of its due date.
4.2 If any statement you provided when entering into this agreement proves to be untrue.
4.3 If you die or have an interim or bankruptcy order made against you, or petition for your own bankruptcy or are served with a creditors demand.
4.4 If the landlord of the premises at your address threatens, or takes steps, to seize or in any other way control any of your goods.
4.5 If, in our reasonable opinion, your financial state has deteriorated to such an extent that your ability to repay amounts due under this agreement is in doubt.

5. Default interest and other enforcement rights
5.1 If you fail to pay us any amount you owe under this agreement by the date it is due, we may charge you default interest on that amount until you pay it in full. This interest will be charged at the rate shown overleaf or in the situation where we obtain a court judgement against you, interest will be charged at the statutory rate.
5.2 You agree to pay us any charges or costs which may become payable by you, including our reasonable legal costs for enforcing this agreement.

6. General conditions
6.1 References to any Act or regulation includes any amendments to that Act or regulation.
6.2 Should we choose not to enforce and/or to relax either permanently or temporarily certain Terms of this agreement, we can in our sole discretion choose to enforce such Terms strictly again at any time.
6.3 We may transfer our rights and responsibilities under this agreement to another person but this will not reduce any guarantees to which you may be entitled. You may not transfer any of your rights or responsibilities under this agreement to another person.
6.4 At any time when there is a balance outstanding under this agreement, you have the right to ask for a statement showing the repayments still outstanding, when these are payable and a breakdown of the repayments showing how much comprise capital, interest or any other charges, which we will provide free of charge.
6.5 If you are more than one person then you are all jointly and severally liable which means either of you may be required to fulfil all your obligations under this agreement.
6.6 If you withdraw from this agreement it does not affect your contract for the purchase of any goods to be financed by it.
6.7 If you have a complaint about our service which we cannot resolve then you may ask the Financial Ombudsman Service to consider it. You can write to the Ombudsman at Exchange Tower, London E14 9SR.
6.8 The supervisory authority for this agreement is the Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS. This agreement consists of the terms above and the terms and conditions set out overleaf.

7. When this agreement comes into force
This agreement will only come into force when we or our authorised representative have signed it.

8. Use of Information
By signing this agreement you understand that we will use your personal information for the following purposes and that information on further processing is available online in the Places for People Financial Services Ltd Privacy Notice at www.placesforpeople.co.uk, copies can be requested in other formats by calling us on 01772 666122 Monday to Friday, 08:30 to 16:30 (Calls may be recorded).

8.1 In order to process your application we will supply your personal information to credit reference agencies (CRAs) and they will give us information about you such as your financial history:
Details of our search against you will be added to the credit reference agencies' records about you, which will be seen by other organisations making searches.
You can contact us for details of the credit reference agencies used by us. You have a legal right to these details and can receive a copy of the information held about you.
Information held about you by credit reference agencies may be linked to records relating to any person with whom you are linked financially
8.2 We may give information about you and your payment record under this agreement to our insurers and advisers, credit reference agencies, debt collecting agents and any proposed assignee, transferee or charge and their insurers and advisers.
8.3 Where it is lawfully possible to do so, we may give information about you and your payment record under this agreement to your landlord and you may be contacted by members of their staff.
8.4 If you default on any repayments due, where it is lawfully possible to do so, we may also provide information regarding your account to the Department for Work and Pensions so that they may consider making deductions to the benefits due to you.
8.5 Our preferred method of communication is by email and it is your responsibility to keep us informed of any changes in your contact information.
8.6 We may check your rent records if you are a customer of any of the Places for People group of companies and will check any previous loan records.
8.7 If you use the Bank Vision software whilst applying for a loan you agree to the Bank Vision terms and conditions which are detailed below.

Please read the following information very carefully:

As a responsible lender, Places for People has a legal obligation to take steps to ensure that our customers are creditworthy.

We use a variety of methods to try to make sure that we do not lend money to people who are in financial difficulty. One of these is to carry out a credit reference check. In order to do this, we shall pass the personal data that you provide to us in your loan application to a credit reference agency(CRA) called Perfect Data Solution Limited which trades as Lending Metrics. Lending Metrics provide us with data about a customer's credit history and borrowing habits. You can contact Lending Metrics at Lancaster Court, 8 Barnes Wallis Road, Fareham, Hampshire, PO15 5TU in writing to request the information that they hold about you (please note, a small statutory fee may be payable).

Important- Your Personal Information:

Credit decisions and also the prevention of fraud and money laundering

We may use credit reference and fraud prevention agencies to help us make decisions.

What we do and how both we and credit reference and fraud prevention agencies will use your information is detailed in the section called:

A condensed guide to the use of your personal information by ourselves and at Credit Reference and Fraud Prevention Agencies.

By confirming your agreement to proceed you are accepting that we may each use your information in this way.

A condensed guide to the use of your personal information by ourselves and at Credit Reference and Fraud Prevention Agencies

1) When you apply to us to open an account, this organisation will check the following records about you and others (see 2 below)

a) Our own database;

b) Those at credit references agencies (CRAs). When CRAs receive a search from us they will place a search footprint on your credit file that may be seen by other lenders. They supply to us both public (including the electoral register) and shared credit and fraud prevention information.

c) Those at fraud prevention agencies (FPAs).

We will make checks such as; assessing this application for credit and verifying identities to prevent and detect crime and money laundering. We may also make periodic searches at CRAs and FPAs to manage your account with us.

Equifax Ltd
Customer Services Centre
PO Box 10036
Leicester
LE3 4FS
www.equifax.co.uk

Perfect Data Solution Limited (trading as LendingMetrics)
Lancaster Court
8 Barnes Wallis Road
Fareham
PO15 5TU
www.lendingmetrics.com

2) If you are making a joint application or tell us that you have a spouse or financial associate, we will link your records together so you must be sure that you have their agreement to disclose information about them. CRAs also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRAs to break that link.

3) Information on applications will be sent to CRAs and will be recorded by them. Where you borrow from us, we will give details of your accounts and how you manage it/them to CRAs. If you borrow and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs and FPAs to perform similar checks and to trace your whereabouts and recover debts that you owe. Records remain on file for 6 years after that are closed, whether settled by you or defaulted.

4) If you give us false or inaccurate information and we suspect or identify fraud we will record this and may also pass this information to FPAs and other organisation involved in crime and fraud prevention.

5) If You borrowed from us and do not make payments that you owe us, we will trace your whereabouts and recover debts.

6) Your data may also be used for other purposes for which you give your specific permission or, in very limited circumstances, when required by law or where permitted under the terms of the data protection Act 1998.

How to find out more

This is a condensed version and if you would like to read the full details of how your data may be used please contact us on 01772 666122.

You can contact Lending Metrics at Lancaster Court, 8 Barnes Wallis Road, Fareham, Hampshire, PO15 5TU in writing to request the information that they hold about you (please note, a small statutory fee may be payable).

Open Banking

This section of our terms and conditions relates to Open Banking and should be read in conjunction with the other clauses in our Privacy Policy. In the event of conflict with any other clauses, this clause shall prevail. If you require this in another format please contact us on 01772 666122.

What is Open Banking?

Open Banking is the secure way of providing access to your bank or building society account to providers who are registered for this purpose. Registered providers and participating banks and building societies are listed under the Open Banking Directory. Open Banking was set up by the UK Government to encourage more competition and innovation in the financial services sector.

As a forward thinking lender, we support the use of Open Banking as it allows us to process loan applications efficiently, securely and in our customer’s best interests.

By permitting access to your bank or building society account information we are able to make a better lending decision as we shall be able to verify your income, outgoings and other matters in order to assess what loan terms would be suitable for you based upon what you can reasonably afford to repay.

Further information about Open Banking is available from www.openbanking.org.uk.

How will my personal data be shared and used for the purposes of Open Banking?

By proceeding with your loan application and using the service supplied by OohMoolah (provided by Perfect Data Solutions Limited (“PDS “)) you expressly consent to sharing your transaction data with our registered Open Banking partner PDS, who are also a credit reference agency. During your loan application we shall safely and securely direct you to PDS’s secure portal (“the Portal”) for the purposes of granting PDS access to your bank or building society account information (“Transaction Information”).

As soon as your Transaction Information is received it shall be reported back to us in the form of a completed search in order that we may continue to process your loan application (“the Permitted Purpose”).

Further information about PDS including their registered provider and regulatory status is available from www.lendingmetrics.com.

Is Open Banking secure?

Yes, PDS are registered under the Open Banking Directory as an account information service provider and are also regulated by the Financial Conduct Authority as a payment services firm under number 802599. Any data you submit via the Portal will be encrypted and its usage tracked as part of set Open Banking data security standards.

We are responsible for safely directing you to the Portal and for the safe receipt and usage of your Transaction Information. You will not be required to share your banking password or log in details with either us or PDS. Once you have given your explicit consent to share your bank account information on the Portal you will be directed to your own bank or building society’s login page where you will enter in your own login details directly.

Save as set out above or elsewhere in this Privacy Policy, we are not responsible for your direct data transmissions with PDS or with your own bank or building society.

How will my Shared Personal Data and Transaction Information be used?

PDS shall, subject to their own terms and conditions and privacy policy, and, if your bank or building society is registered to provide access under the Open Banking Directory, obtain your Transaction Information and submit this back to us for the Permitted Purpose of Credit Risk Assessment. By way of example, the Transaction Information that we shall receive is likely to include information relating to your income, outgoings and credit worthiness.

PDS shall be entitled to re-access your Transaction Information for up to 90 days from the date of your original search result in order to refresh the search results, obtain a snapshot of your data or gather additional data.

PDS shall hold the Transaction Information they receive and retain according to their own terms and conditions and privacy policy, available on the Portal, which you will be required to read and consent to once directed there via our website.

As PDS are also a credit reference agency they may also share and keep a record of your Transaction Information.

Will you use my Transaction Information data for any other purpose?

The Transaction Information we receive about you will only be used for the Permitted Purpose. We do not sell or share Transaction Information with any third party.

Save as set out above the information contained in the rest of this Privacy Policy deals with how we collate, use, transfer, store, delete and other terms applicable to your personal data including Transaction Information.

Do I have to provide you with my consent to proceed?

No, this service is optional – it is however a faster and more secure way of sharing transactional information with us than post or email. Once we receive your information into our system we will be processing it under our legitimate interest, in order to form a contract with you. Details of our retention policy, which informs you of how long we may keep your data, can be found within our FAQ section on our website or you can request this to be sent to you or read to you if you prefer (please call us on 01772 666122 or email loans@placesforpeople.co.uk).

Where your bank or building society have already permitted access to your Transaction Information you shall need to contact them directly in order to withdraw your consent under their particular Open Banking terms and conditions. 

Are any of my other rights under your Privacy Policy affected?

Your individual data protection and privacy rights including the right to access, correct, delete, object, restrict, request transfer and/or make a complaint, continue to apply to relevant personal data we control or process and are dealt with elsewhere in our Privacy Policy.

Under Open Banking as your personal data is shared by your bank or building society and accessed by PDS you may also be able to exercise your individual data protection and privacy rights against either of them pursuant to their own terms and conditions and privacy policies.


Places for People Financial Services Limited is authorised and regulated by the Financial Conduct Authority with firm reference number 663756.