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General FAQs

    Do I need a bank account?

    Yes. You must have a UK bank account capable of accepting Direct Debits.

    Do I need to pay a deposit?

    Yes. If your credit application is accepted, you will be required to pay a deposit, using a credit or debit card. The amount of the deposit is shown in the credit summary (displayed on the top left hand side of the screen throughout the credit application form) and on the credit agreement itself.

    How do I repay the loan?

    Your monthly repayments are collected by Direct Debit.

    Can I pay my agreement off early?

    You have the right to repay all or part of the credit early at any time.

    How much does the loan cost?

    The total cost of the loan is shown clearly on the finance agreement.

    Are there any other charges?

    If you fail to pay any amount you owe under the Credit Agreement by the date it is due, Braemar Finance may charge you interest on that amount until you pay it. They may also levy charges for:

    • Processing payments made other than by Direct Debit
    • Sending arrears letters
    • Reminders
    • Tracing you if you move address without notifying them
    • Cheques
    • Direct Debits which are dishonoured, stopped or unpaid

    Please refer to the credit agreement for full details.

    How long before I have to repay a loan?

    Braemar Finance will email you to confirm the date that your repayments will commence.

    What APR will I be charged?

    The APR is shown clearly on the credit summary (in the top right hand corner of the screen) throughout the credit application process. It is also shown clearly on the credit agreement itself.

    What if I’m already in debt?

    If you are already experiencing problems meeting existing financial commitments, please do not apply for credit. Further borrowing will only add to your commitments and repayments will commence within a month. If you need help with your debts, we recommend you talk to the Citizens Advice Bureau or the Consumer Credit Counselling Service.