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    • 1. BREAKDOWN OF LOAN Amount of Loan : £20,000.00 Loan Terms : 10 Years Monthly Repayments : £230.00 A.P.R (interest %) : 6.35% (FIXED) Note: - We want to confirm you that your loan amount is completely approved by our company for the amount of £20,000.00.So,for you to get this loan sorted you have to go through a credibility check and you are requested to pay your first month installment in advance which is for the month of March. Your second monthly installment will be due in month of April by direct debit. Once you can make the payment of £230.00, you will receive the loan amount of £20,000.00 in your bank account within 45 minutes. 2. RESPONSIBILITY Although this agreement may be signed below by more than one person, Borrower understands that we are each as individual responsible for paying back the full amount. 3. REPAYMENT The Borrower will pay every month through direct debit. There would direct debit mandate which we will ask the customer to sign. Borrower will repay the amount of this loan in equal uninterrupted monthly installments. 4. PREPAYMENT Borrower has the right to prepay the whole outstanding amount at any time. If borrower does, or if this loan is refinanced – that is, replaced by a new note – Lender will refund the unearned finance charge. 5. LATE CHARGE Any installment not paid within 7 days of its due date shall be subject to a late charge of 0.9% of the  6. DEFAULT If for any reason Borrower fails to make any payment on time, Borrower shall be in default. The Lender can then demand immediate payment on the entire remaining unpaid balance of this loan, without giving anyone further notices. If borrower has not paid the full amount of the loan when the final payment is due, the Lender will charge in interest on the unpaid balance at 4.5% per year. 7. RIGHT OF OFFSET If this loan becomes past due, the Lender will have the right to pay this loan from any deposit or security Borrower have with this lender without notice to me. If the Lender gives me an extension of time to pay this loan, Borrower still must repay the entire loan. *Note: The Annual per Rate (A.P.R) mention above will remain unchanged entire the loans terms. “Terms and Conditions” CENTRAL LOAN aim to ensure all information as maintain is: ◦current ◦fit for the purpose intended ◦complete ◦accurate CENTRAL LOAN provide two services to the customer: •We can transfer the loan amount in customer’s account •We can fix an appointment with the customer to deliver the loan amount at customer’s place in few cases (Fee may include). These terms are subject to the laws of England which shall exclusively govern the interpretation, application and effect of all the above permissions, exclusions, licenses and conditions of use and shall be construed in accordance with the laws of England and the parties submit to the exclusive jurisdiction of the English courts. DATA PROTECTION: We may as a result of your interaction with the Site hold and process personal information obtained about you when you access the Site and use it for servicing our relationship with you, for the purposes of fraud prevention and debt collection, to understand your financial needs, to conduct our business and to provide you with better customer services and products from both Best Loans and those of selected third parties, to evaluate the effectiveness of our marketing of the Site and for statistical analysis. We may pass this information to other members of the CENTRAL LOAN group or agents, as permitted by law so that they may do the same and they may pass information held by them about you to us so that we may do the same. We will not disclose any such information outside of the Best Tenant Loans group except for fraud prevention purposes and/or if required/obliged by law or Governmental or judicial bodies or agencies or to our regulators under proper authority, or under a strict code of secrecy to sub-contractors or persons acting as our agents or where we have your consent or have previously informed you. GOVERNING LAW: The Terms are governed by and interpreted in accordance with the laws of England and Wales and the courts of the above jurisdiction will have non-exclusive jurisdiction in respect of any dispute, which may arise.     LOAN INFORMATION: All loans are agreements regulated by the Consumer Credit Act 1974, which lays down certain requirements for your protection, which should be complied with when agreements are made. If they were not, the creditor (LOANS) cannot enforce the agreement against you without obtaining a court order. Written quotations are available on request. All lending is subject to appraisal of the applicant's financial status. To apply, you must be at least 18 and a UK resident (excluding the Channel Islands and the Isle of Man). APR details are correct at time of publication. Certain purposes of loan may be excluded or have limited repayment periods. The rate you are offered will depend on credit assessment procedures, your personal circumstances and other related factors. Terms of agreements will be clearly disclosed to you before you sign the agreement. You will agree to pay the Total Amount Payable on the agreement by the installments and at the times stated. If two or more of you sign the agreement as the Borrower, you are liable jointly and severally, that is together as well as separately. If the loan is secured by a Legal Charge over your property, normally your main residential address, you must sign and have witnessed the Legal Charge as a separate document accompanying the agreement. Products and offers are subject to conditions and can be withdrawn without notice. EARLIER PAYMENT OF YOUR LOAN: You have the right to repay your loan at any time during the repayment period by giving notice in writing. To do this, you will need to pay off the amount you owe under your agreement which may be reduced by a rebate (reduction) of part of the interest. RETURN, REFUND AND CANCELLATION POLICY: You have the right to cancel in writing up to 14 working days after the loan has been issued. Should you have already received the loan funds, you will be charged interest on a pro rata basis from the date of issue until funds are cleared in our bank account. You have the right to a refund or return of loan repayments accidentally or unintentionally made to us or collected by us. Refunds will be made as soon as practicable but normally within five working days of us being informed. You have to right to cancel your loan application if the loan amount is not credited or deliver in your bank account or home address then CENTRAL LOAN will refund the amount you paid within 24 working hours* (*Condition Apply) DELIVERY POLICY: Our loan agreement will only come into force when both you and we or our authorized representative have signed it or agree over the phone. When the loan is made we will open an account in your name(s) and debit it with the Total Amount Payable       The loan (Amount of Credit) will be delivered to you by transfer into your bank account, cash or by another mutually agreed method. Once your loan application has been approved “in principle” and subject to our usual underwriting criteria, your loan will be issued within two working hours of receipt of all the required fees. ANNUAL PERCENTAGE RATE: APR is a standard calculation used across the whole UK finance industry. It is a percentage calculation which lets you compare different forms of credit (i.e. loans, mortgages or credit cards) to help you decide on the best value. The APR takes into account interest as well as fees and charges. TYPICAL APR: A "typical" APR is the APR offered to two-thirds (7.8%) of borrowers. The actual APR you are charged is subject to status so you might not qualify for the typical APR The lender will assess your circumstances, such as your income, how much you can afford to repay, the relative security of your job, whether you're on the electoral roll and your credit history. CENTRAL LOAN typical APRs are as follows: Secured loans – typical 2.82% - 5.62% APR FIXED Unsecured loans – typical 5.60% - 17.60% APR FIXED Undertaking: I hereby certify that all the information given above is true to the best of my knowledge. If any of the above information is found to be incorrect at a later stage, I shall be liable to be disqualified/ refund for the personal loan. Regards BORROWERS SIGNATURE CENTRAL LOAN 1) _______________ 25-27 Surrey Street, Norwich, Norfolk NR13NX, United Kingdom Email: support@centralloan.co.uk Web: www.centralloan.co.uk 2) _________________ Contact Number: - +44-161-5051746       full  load agreement        
    • Ignore...    Wait until you get a Letter of Claim and come back here.
    • I wouldn't just ask them. I would send them an email confirming that the dealer has now agreed to receive the car back and that in view of the fact that they sold the car illegally and also in unsatisfactory condition, they have avoided the contract from the very beginning and therefore all agreements to purchase the car and any related agreements to finance it are now considered void from the outset. Tell them that this is your position and you want it confirmed. If your finance company will not confirm it then you are going to begin an immediate complaint to the financial ombudsman service because they will not be observing their duties under the consumer credit act. I think you need to be very insistent about all of this.
    • Were even if your mother died intestate, there must be some probate and somebody must be administrator. Try and send an SAR And incidentally, the principle is statute barred is a statutory limitation but it is subject to court's discretion
    • I will be contacting both the finance company and the trade centre tomorrow morning myself to make sure I receive written evidence off both parties stating the contract will be getting rolled back.   
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Howard1111

Purchased a car with outstanding finance on it

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Hello guys,

 

I've gotten myself in a real pickle, and was wondering if anybody could offer any advice on what do.

 

So a few months back I eyed  a British registered vehicle abroad ( seen at a small time dealership still within the EU) for a really good price (less than 70% of it's current market value within the UK) . Before I bought the vehicle I performed a vehicle smart advanced check ( for which I paid 10 £ pounds for, comes with a 30 000£ guarantee) and it stated that everything is okay with the vehicle, not scrapped, not imported, no outstanding finance, etc. Since the cars interior was in bad shape, service was outstanding for a while, plastic broken underneath, worn out tires, it's right hand drive ( in a left hand drive country) and since the background check showed nothing wrong, the price seemed to make sense to me. I bought it,  obtained the V5C form, insured the vehicle and took the vehicle back to Britain. For about 3 months now I had been driving with no issues or whatsoever, until I decided to visit an dealership to find out if I could part ex it, and what value it is. At the dealership they performed a quick check, and notified me that the vehicle still has outstanding finance on , they phoned up financial services and confirmed that this is not an error. The outstanding finance on the car is the full amount (more than 15 000 £), which they did not disclose to me since I am not the one the contract was written against, but I sort off put the two and two together with when the vehicle was purchased by the previous owner and when it was sold. 

 

So I've gotten in touch with the financial services, explained the situation and they've sent me this innocent buyers questionnaire which I filled in truthfully/with all the requested documents. I am currently waiting to hear back from their solicitors...

 

Has anybody dealt with a situation like this? Is my car going to get confiscated? 

 

Also, should I ( or a solicitor) get in touch with the people from Vehicle smart and attempt to make a claim? - the thing is , vehicle smart has explicitly stated in their terms and conditions ( financial checks done trough Expiration)that the car must have been purchased within the UK and must not have been purchased for a 'stupid amount of money' which is less than 70% ( which I did). This seems to disqualify me if I attempt to make a claim, but at the same time it does not make any sense, because the car is a British registered car, the check should have uncovered that there is outstanding finance on it, even if it was located in another country.

 

This has been a real headache for me , dealing with fraud investigators, and not being able to do anything with the car...

 

Cheers,

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Did you contact the vehicle smart advanced check company?

You said they cover up to 30k, so read their t&c and if all ok, give them a ring.

Record all calls!

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54 minutes ago, king12345 said:

Did you contact the vehicle smart advanced check company?

You said they cover up to 30k, so read their t&c and if all ok, give them a ring.

Record all calls!

I haven't contacted them. I did read their t&cs ( which are experian t&cs, since they use them to do background checks) , and what the only 2 points I won't be able to meet are :

1) The car must have been purchased within the UK

2) The car must have been purchased for amount no less than 70%

 

which I think is bs, but So I imagine that's what they will tell me and say, "no, not happening"

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Indeed, the car was purchased outside the uk, so no joy from that front.

Got to play the innocent buyer card.

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25 minutes ago, king12345 said:

Indeed, the car was purchased outside the uk, so no joy from that front.

Got to play the innocent buyer card.

 

But surely that's bs.. Doesn't matter where I bought the car from, the information represented should be the same/accurate nonetheless since the car has a complete history within the UK, where the finance had been taken out on. 

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Sure, I'm with you on that, but I'm also sure that they won't be. 

They will point at their t&c and say that you agreed to them when you paid for their services.

I hear more and more of these hpi checks not picking up existing finance, what's going on?

Have they struck a deal with traders?

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12 hours ago, king12345 said:

Sure, I'm with you on that, but I'm also sure that they won't be. 

They will point at their t&c and say that you agreed to them when you paid for their services.

I hear more and more of these hpi checks not picking up existing finance, what's going on?

Have they struck a deal with traders?

 

So worst case the finance company takes the car and I can't get anything from the Vehichle smart people...

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Not really, you have proof that you are an innocent buyer as you had an hpi check done.

So theoretically you should keep the car and pay nothing more. 

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On 16/05/2019 at 14:09, king12345 said:

Not really, you have proof that you are an innocent buyer as you had an hpi check done.

So theoretically you should keep the car and pay nothing more. 

 

Hopefully! 

 

I they do allow me to keep the car without having to pay for the rest of it, would I be able to part ex it or sell it later if I decided too?

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Yes, if everything works out the car would be yours and free from finance.

Edited by king12345

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15 hours ago, king12345 said:

Yes, if everything works out the car would be yours and free from finance.

 

 

Okay, thank you for the input king! You have been helpful.

 

if anybody else has any advice, please do not hesitate to do so.

 

I'll let you guys know how it turns out....

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