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CREDIT BROKER RESPONSIBILITY

" We promise "

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We promise we will never:

Charge you anything,

It's FREE

Target customers in financial distress

Pressure you to agree to loans that are not suitable

Share your data with unlicensed third parties

We promise we will always:

Work with fully licensed, reputable lenders

Offer a free, unbiased service

Uphold the very best practices of the industry

Keep safe your details & maintain a secure application service

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Please be advised that you:

Should not apply if you are in debt

Should read over your loan agreement and understand it fully before signing

Should only borrow what you can afford

Should pay back your loan on the agreed date to avoid being charged more

Need help? Contact the Citizens Advice Bureau – www.citizensadvice.org.uk

Missing payments or failing to pay will lead to money problems. For help go to moneyadviceservice.org.uk

TREATING YOU FAIRLY

Principle 6 states we must pay due regard to the interests of our customers and treat them fairly. Principle 7 requires we states we must communicate with our customers in a clear and fair way. We must not mislead them. Firms should ensure, for example, that their charging policy is clear and accessible.

AUTHORISATION

CONC 2.5 stops firms taking a fee from a customer’s bank account without express authorisation. We expect the amount or likely amount of the fee to be disclosed as early as practicable in the process.

SHARING OF PERSONAL DATA

CONC 2.5 stops companies passing customers’ personal data – including payment details – to anyone, without consent or for a purpose other than that for which consent was given. Failure to abide by this rule would be a breach of the Data Protection Act.

ADVERTISING/MARKETING

CONC 3.3 means financial promotions (this includes websites) must be clear, fair and not misleading. Firms must not mislead as to their identity or status, for example by stating or implying that they are a lender where this is not the case.

 

TRANSPARENCY OF STATUS

CONC 3.7 means brokers must make it clear in financial promotions and other documents intended for customers their status, including the extent of their powers, the nature of the service they provide and any links with lenders.

TRANSPARENCY OF FEES & COMMISSIONS

CONC 4.4 deals with fee disclosure and CONC 4.5 with commission disclosure. Any fee payable by the customer must be disclosed at an early stage and agreed in writing prior to a credit agreement being entered into. The disclosure must include how and when the fee is payable. Whether refunds are available must also be disclosed.

REFUNDS

Section 155 of the Consumer Credit Act entitles the customer to a refund (less £5) of any brokerage fee if a credit agreement is not entered into within six months of an introduction to a source of credit, and CONC 6.8 provides guidance on this. A broker should respond promptly to any request for a refund.

RELAXCASH MENU

CONSUMER ADVISORY

We are a loan matching service. We submit the data you provide to a loan provider. Once approved the lender might want to ask you more questions via their website, email or phone.

Relax Cash is not a lender. Terms of loans differ due to various factors including lenders and applicants’ requirements. Late or missed payments may be subject to increased fees. Not all lenders will offer the full amount of £750 and not all applicants will be accepted for the loan they requested. Repayment periods differ from lender to lender. Collection services may be used for non-payment.

Relax Cash is not a lender. Terms of loans differ due to various factors including lenders and applicants’ requirements. Late or missed payments may be subject to increased fees. Not all lenders will offer the full amount of £750 and not all applicants will be accepted for the loan they requested. Repayment periods differ from lender to lender. Collection services may be used for non-payment.

Representative 1223.6% APR

REPRESENTATIVE EXAMPLE: 1223.6% APR VARIABLE. £100 BORROWED OVER 30 DAYS WOULD EQUAL TOTAL BORROWING OF £124.00.

ACTUAL INTEREST IS 24%.

 

Note: the APR you pay may differ depending on the lender that accepts you.

Relax Cash is a trading style of Atlantic Square Limited registered in England and Wales, company registration number SC182075. Atlantic Square is authorised and regulated by the Financial Conduct Authority, reference number 659330. Registered Office Address: Caledonia House, 89 Seward Street, Glasgow, G41 1HJ.

*Fund transfer times may vary based on the matched UK money lender, time of day applied and your bank.

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