Dear:
Sequel to your mail application, this is to inform you that this firm is willing to help you with the loan amount of ($150,000.00). Giving you this loan is our goal if only you are in agreement with the company's terms and conditions of service. When we have received your response to these terms and processed the Agreement, we will pay into your current account or any other account type you will be providing the amount of the Loan(s).
REPAYMENT SCHEDULE
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Loan Amount Needed:……………………………………………………$150,000.00
Loan Interest Rate:………………………………………………………2%
Loan Term:………………………………………………………15 year
Monthly Loan Payment………………………………………………………$965.26
Number of Payments:………………………………………………………180
Cumulative Payments:………………………………………………………$173,747.44
Total Interest Paid:…………………………………………………………$81.627
Note: The monthly loan payment was calculated at 179 payments of $965.26 plus a final payment of $965.90.*********************************************
INTEREST:
1. The effective rate you will pay takes account of the timing of your repayments, the compounding of interest and the monetary costs of the interest charges. It is calculated in the same way as the APR taking account of interest only.
2. At the beginning of the loan agreement we work out the interest you will pay over the whole period of your loan and add this to your loan balance. We calculate your interest charge by applying interest at the simple rate to the balance of your loan account, as reduced by your scheduled repayments.
3. The applicant will start the repayment of loan at the end of every month starting from THREE (3) Months after loan has been transferred.
4. Applicant who is unable to meet with the repayment will be given THREE (3) weeks more as a grace period before legal actions will be taken.
DEFAULT:
5. If you are late paying any amount due under this Agreement, we may charge you interest on the overdue amount at the interest rate specified above from when payment was due until payment is received in full.
6. You will also be liable to pay us our reasonable costs and expenses incurred in connection with the enforcement of this Agreement.
7. If you or, where there is more than one of you, either or both of you:
fail to pay your repayments or any other amounts payable under this Agreement as they fall due; or
are declared bankrupt or have similar proceedings taken against you; or
fail to repay money due under or otherwise break any term(s) of any other agreement between ; or
we find out that any fact or information which you provided to us, or representation made to us by you or on your behalf, was materially incorrect or misleading,
We will have the right to demand immediate payment of the unpaid balance of the total amount payable less any applicable rebate. We will first send you a default notice where we are required to do so under the Consumer Credit Act 1974.
8. If we reasonably suspect that this Agreement and/or any other facility or account that you have with us, is/are being used in relation to fraud or other criminal activity, we will have the right to demand immediate payment of the unpaid balance of the total amount payable less any applicable rebate. We will first send you a notice where we are required to do so under the Consumer Credit Act 1974.
9. If full repayment or satisfactory proposals are not received within 28 days of our making demand for full repayment, we may disclose information about you and the conduct of your loan to licensed credit reference agencies.
JOINT BORROWER
10. Where the loan is in joint names, your liability is joint and several. This means you are liable jointly but also individually for all the terms of this Agreement even if the relationship with another joint borrower ends.
EARLY REPAYMENT
11. You are entitled to repay amounts due under this agreement partially or in full at any time by giving us notice in writing through e-mail. It is necessary to pay all amounts owed under the Agreement if you wish to terminate the Agreement. Where you make any early repayment, there will be a reduction in the amount of interest you will have to pay.
RELAXING THE TERMS OF THE AGREEMENT
12. If at any time we choose not to enforce the strict terms of this Agreement, we shall not be prevented from applying the strict terms of the Agreement at a later date.
CHANGING THE REPAYMENT DATES
13. We may vary your repayment dates. We will give you at least seven days’ notice before we do this.
SET OFF
14. We may use any credit balance on any other Bank and Account you hold to reduce or repay any sums you fail to pay under this Agreement. We will only do this after giving you reasonable opportunity to rectify the situation. We will not tell you before we exercise our right. We will tell you as soon as we can afterwards.
COMPLIANTS
15. If we do not deliver the standard of service you expect, or if you think we have made a mistake, please let us know. We will then investigate the situation and, if necessary, set about putting matters right as quickly as possible. In addition we will take steps, where appropriate, to prevent a recurrence.
However, if you remain dissatisfied and would like further information about our process for resolving complaints, please ask us for the explanatory leaflet ‘Listening to your comments’. This gives further information about the process for resolving complaints and tells you how to complain to the Financial Service Department.
APPLICABLE LAW
16. This Agreement is governed by the law of SPAIN AND INDIA Government’s Patriot Act as are our dealings with you up until the time your account is opened. We are required by law to tell you that this Agreement is in English and that we will communicate with you at all times in English BUT will translate it when necessary for easy communication and comprehension.
NOTE: For our customers, provided the total number of repayments applicable to your Loan as shown in this Agreement is 360 times or more, when you complete repayment of the outstanding amounts due under this Agreement on the last repayment date under this Agreement, we will credit the account used in repayment of the Loan with an amount equivalent to 10% of the total interest paid on the amount of the Loan (excluding interest on overdue sums or on sums paid in compensation for our costs in instances of default). If the Loan is repaid early, or if, for any reason, this Agreement is terminated before the last repayment date then this clause will not be applied and no Cash back will be payable. To benefit from Cash back you must be a customer to this firm at the time the loan is taken out and must continue to be such throughout the loan term.
IMPORTANT INFORMATION
Statement of account: During the term of this Agreement, you can ask us without charge for a statement of account in the form of a table showing the repayments owing, the periods and conditions relating to these payments and a breakdown of each repayment showing how much comprises capital repayment, interest and, if applicable, other charges.
Missing payments: Missing payments could have severe consequences such as making obtaining credit more difficult and could result in legal action to recover any debt owed under this Agreement.
Right of withdrawal: You have the right under section66A of the Consumer Credit Act 1974 to withdraw from this Agreement, with reason(s), during a period beginning the day after you have received written confirmation from us that we have executed the agreement and ending after 14 calendar days. You can withdraw from the Agreement by sending written notice of the withdrawal. If you withdraw from the Agreement you will have to repay to us the credit you have taken under the Agreement and pay to us any interest accrued on that credit without delay and in any event no later than 30 calendar days after giving notice to withdraw. You can do this by cheque or any other appropriate means. The amount of interest payable per day on the entire amount of credit is shown at the start of this agreement.
NOTE: If you AGREE to the content therein this document, respond back with a copy of your IDENTITY CARD. Either nationally or internationally accepted means of identification.
BANK ACCOUNT DETAILS FOR TRANSFER OF LOAN NEEDED
NAME OF BANK:
BANK ADDRESS:
NAME OF ACCOUNT:
ACCOUNT NUMBER:
ACCOUNT TYPE:
ROUTING NUMBER (If any):
SWIFT/IBAN CODE (If any):
urgent response now
my regards
