Who are Braemar Finance?
Braemar Finance, part of Close Brothers Group plc, is an established direct funder to the professions. Our expertise has been gained over the years by helping fund the assets the professions require to succeed within their sector. In addition we help our clients by offering finance to their patients or clients, people like you, to cover the expense you incur within their business. Braemar Finance is a name you can trust.
How does Braemar Patient and Client Finance work?
When you apply for credit online, Braemar Finance securely captures, formats and processes your application. If your application is approved we keep both the business providing the service to you and you updated as your application is processed.
How do I apply for credit?
You can apply for credit on the business premises or online by completing a credit application form then carefully reading the agreement and related information. If you are happy to proceed, you can sign the agreement or click a button online to send it for an instant decision. If you are approved we’ll ask you to pay a deposit. Upon receipt of your deposit payment, we’ll authorise the business concerned to proceed.
How do I ask a question about the Credit Agreement?
If there is anything you do not understand or if you require any further information regarding the credit agreement, please call 0333 005 0087 or email email@example.com
Why did you send me an email titled “Important Pre-contract Information”?
The Consumer Credit Act 1974 stipulates that we provide you with an explanation of your credit agreement, information about the agreement and a copy of the agreement itself. We email this information to you when you commence the credit application process in order that you can review it before you enter into the agreement. We ask you to confirm that you have received it and are aware that you should read and understand this information before completing the credit application.
How long does it take to apply online?
Our online application form typically takes less than three minutes to complete. Your application is then instantly sent and typically you will receive a decision in around 10 seconds. Some applications may take longer to process. If for any reason we can’t give you an instant decision, we’ll send you an email the moment a decision has been reached.
I’ve been approved for credit and paid the deposit. What happens next?
We will advise the business providing the goods/service to proceed and we will then email to confirm the repayment amounts and repayment schedule.
What are the requirements for finance?
You have a good credit history. You are employed at least 16 hours per week, or retired in receipt of a private or state pension and have considered your ability to afford and sustain the repayments. You are 18 or over, a permanent UK resident and able to supply three years address history. You have a debit or credit card.
Can I apply for credit over the phone or in person?
Please contact your business provider who will advise you if they can arrange credit over the phone or in person.
Email communication problems?
With your permission, we will email you a copy of the credit agreement and other important information, updates to the status of your application and to confirm when your application is complete. We will send these emails to the email address you provide on the credit application form so please ensure you enter your address carefully. If you have not received any email from us, please check your spam/junk mail folder.
Why was I declined?
We understand that customers can be concerned when their application for credit is unsuccessful.
Here is some information that explains how we have reached our decision. Firstly, we have used all the information that you supplied in your application and information supplied by a credit reference agency to give us the information we need to make a decision. Each application is individually and carefully considered.
As responsible lenders, we take into account your personal circumstances to decide the appropriate level of credit to give you. We use credit scoring to help us do this. Credit scoring takes into account information provided directly by you and any information we may hold about you already. We also use information from credit references agencies.
We have a commitment to act responsibly in providing credit to customers. We look at how customers meet their various debt repayments together with the total level of debt that a customer has. This includes available credit on cards. Our decision is based on the level of risk calculated for each applicant.
Credit Reference & Fraud Prevention
We may use Equifax, Callcredit and Experian as our credit reference agencies. To find out what information these credit reference agencies hold on your file, you can write to them at the following address, enclosing the standard £2 fee:
Credit File Advice Centre
PO Box 1140
0844 335 0550
Consumer Services Team
PO Box 491
0870 060 1414
NG2 Business Park
0844 481 8000
We may also use information from Cifas, the UK’s Fraud Prevention Service.
For more information on credit and your rights, please see www.ico.org.uk to download Credit Explained, an excellent guide created by the Information Commissioner.
Can I cancel my credit agreement if I change my mind?
You have the right under section 66A of the Consumer Credit Act 1974 to withdraw from the agreement without giving any reason before the end of 14 days (beginning with the day after the day on which the agreement is made or, if later, the date on which we will tell you that we have signed the agreement). If you wish to withdraw you must give the business providing the service notice in writing or by telephone or email (see contact details below). Please note that if you do give notice of withdrawal, you must repay the whole of the credit without delay and in any event by no later than 30 days after giving notice of withdrawal. You will also have to pay interest if applicable accrued from the date the agreement was made until the date you repay it. If you wish to pay by debit card give Braemar Finance notice.
Braemar Finance, Braemar House, Olympic Business Park, Dundonald, KA2 9BE. Telephone 01563 852113 or email firstname.lastname@example.org
Will the finance company perform a credit check?
Yes, a credit check forms part of the automated decision making process and is part of a responsible lending policy.
What is responsible lending?
Responsible lending is providing credit, based on background checks and professional judgment, to people who can accommodate regular repayments without getting into financial difficulty. Before the finance company will offer credit, they will assess whether they feel you will be able to repay it. Finance companies endeavour to make their decisions as transparent and as objective as possible. Credit scoring is one of the decision-making tools they use: a technique used to assess the probability that customers can and will meet their financial commitments. Credit scoring uses data received from credit reference agencies. These systems help finance companies make decisions about opening accounts and granting credit by using statistical techniques to measure the likelihood that a customer applying for credit will be an acceptable credit risk. It can also help to accelerate the decision making process. Braemar’s responsibility to lend responsibly should be seen as a complement to customers’ own obligations to borrow responsibly.
What is responsible borrowing?
Borrowing from a finance company can be a very useful way to smooth out the gaps between your income and expenditure. Sensible borrowing has empowered generations of people to buy goods and services that would otherwise be well beyond their reach. Used sensibly, borrowing money can be a very good tool for managing your finances, such as spreading the cost of a purchase over a number of months. The key is to remain in control of your money and to make sure that you do not over-stretch yourself.
What if I have bad credit?
Braemar Finance uses an automated credit check as part of our decision making process. If you have an adverse credit record it may affect our decision. To give yourself the best chance of acceptance, please ensure you complete the credit application form correctly. Please don’t apply for credit unless you’re sure you will be able to comfortably repay it.
When I apply for credit I get an error. What should I do?
When you submit your credit application, we check the information you provide is valid and complete. We develop and test our software very thoroughly but sometimes errors can still occur. To report an error, please email email@example.com giving a concise description of the problem and attaching a screenshot if possible.
What if my enquiry is not answered by the FAQs?
Answers to the most frequently asked questions are detailed in this section. If your enquiry cannot be answered by the FAQ please contact Braemar Finance, Braemar House, Olympic Business Park, Dundonald, KA2 9BE. Telephone 01563 852113 or email firstname.lastname@example.org