These are the ‘terms of business’ under which we operate and we strongly recommend that you read this important document, which explains about our terms of business, the service you are being offered and how you will pay for it. If you are unsure about anything within this document, please contact us at your earliest opportunity.
Epic Finance is a trading style of Epic Finance Services Limited, Suite 9, The Quay, 12 Princes Parade, Liverpool L3 1BG which is authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 914254.
You can check this on the Financial Services Register by visiting the Financial Conduct Authority’s website: www.fca.org.uk/register or by contacting them on 0800 111 6768.
The FCA is an independent watchdog that regulates financial services and this document is for those consumers considering buying certain financial products.
Epic Finance Services Limited is permitted to undertake credit activities in relation to a Regulated Credit Agreement.
Please note that Epic Finance Services Ltd is a broker/intermediary and NOT a lender.
Epic Finance Services Ltd does not handle clients’ money in respect of a regulated Consumer Credit Agreements.
If we have arranged a loan for you, this will not be kept under review, unless agreed otherwise. However, we may contact you in the future by means of an unsolicited promotion should we wish to contact you to discuss the relative merits of a product or service which we feel may be of interest to you.
Which Service(s) Will We Provide You With?
Our service is only available to residents within the United Kingdom.
We provide a non-advised service in respect of a regulated credit agreement for car finance. This means that we will provide information on the various facilities that we have available and provide you with sufficient information for you to make an informed choice.
We offer unsecured loans from a panel of lenders, which is available upon request. This panel of lenders may change from time to time.
What Will You Have To Pay Us For Our Service(s)?
We do not charge a fee for introducing you to lenders, however we do receive commission from the lenders. Please contact us if you would like to know the likely amount of this commission. You will receive a credit agreement when considering car finance/ unsecured loan direct from the lender.
Mode Of Communication
We will enter into communication with you through whatever means are convenient to you and us, including face-to-face, telephone, e-mail and other acceptable electronic communication methods. All our communications will be in the English language.
We may receive non-monetary benefits from lenders but we will tell you before the transaction if we will receive some form of benefit that is above the level we have set as ‘reasonable’.
There is no guarantee that the submission of a car finance/unsecured loan application will be approved by the lender. Applications are all subject to status.
By missing or not maintaining the agreed repayments on your loan (both the amount and frequency) this could result in default charges being applied, which may increase the amount to be repaid and also affect your credit record and the ability to obtain credit in the future.
In order to source the most appropriate product and to establish the lenders appetite to lend, we will normally undertake a restricted credit search, known as a ‘soft search’, which will not affect your credit profile.
Loan Application Process
Once you have made your choice, a loan application will need to be completed with one of our lenders. Please be aware that lenders and ourselves will be taking up credit checks through a credit reference agency, such as Experian, Call Credit or Equifax on application.
Credit reference agencies collate a wide range of information from various sources to include data from the electoral roll (voters roll), details of county court judgments, bankruptcies, previous and existing credit commitments and how punctual payments are being made (or have been made) together with a record of searches made against your credit file.
If you wish to know which credit agency they use, please ask us to provide you with their name and address.
Pre-Contract Credit Information (PCI)
Once you have made an application to the lender, they will prepare a quotation for you with an advance copy of the loan agreement and Pre-Contract Credit Information Form. We strongly recommend that you review and consider this PCI form before signing the credit agreement. We call this the consideration period.
Reviewing the PCI is to ensure that you are fully informed about the loan, including the costs, charges terms and conditions of the agreement, the particular features and consequences (such as failure to make payments) of the agreement, any cancellation rights (if you change your mind) together with your legal responsibilities. Based upon this PCI, you should also be able to assess whether the loan is suited to your needs and financial situation.
Consumer Credit Act and Your Right to Withdraw
The Consumer Credit Act has been on the statute book since 1974. At one point or another you’ve probably used the Consumer Credit Act, it is one of the most important pieces of legislation for consumers ever enacted.
Cancelling credit agreements off trade premises
Under the Consumer Credit Act, if you sign a credit agreement off trade premises you have the right to cancel the agreement within a cooling off period of 5 days. Under the Act, your cancellation rights must be included in the credit agreement and sent to you within 7 days. You then have 5 days to cancel.
Right to Withdraw from a Credit Agreement
The Consumer Credit Act allows you to withdraw from a credit agreement within 14 days. This period starts when the agreement is concluded or when you receive a copy of the agreement. There are some agreements that can’t be cancelled, for example where the amount of credit exceeds £60,260.
Credit Agreements at a distance
Credit agreements at a distance are the easiest and quickest to enter into. Certain information has to be provided in good time before you are bound by the contract. This information can include :
- Name and address of the creditor
- Description of the main characteristics of the credit agreement
- Total price payable for the credit
- Arrangements for payment
- Information regarding a right of withdrawal
You will not have any right to cancel the Credit Agreement once you have signed and returned the terms and conditions and the loan has been granted by the lender. Therefore, it is very important that you use the consideration period to assess whether the loan is suitable for you.
Once the loan has been granted, you can repay the borrowing, subject to providing the lender with notice, typically of one month and a redemption penalty, usually of one months interest. The Pre-Contract Credit Information Form and Credit Agreement will detail these.
With regards to the distance contract without penalty and without giving any reason within 14 days where the contract is a credit agreement.
In providing services to you, we will categorise you as you as a retail customer/consumer as this provides you with the highest level of protection under the UK regulatory system.
If we have categorised you as anything other than a retail customer/consumer, we will confirm this in writing to you. You may request re-categorisation under a client category that benefits from a higher degree of protection although we reserve the right to agree to such a re-categorisation, on a case-by-case basis, and where we agree to do so, it does not necessarily mean that you will have a right of access to the Financial Ombudsman Service.
Conflicts Of Interest
Epic Finance Services Limited offers advice in accordance with that described in this document. Occasions may arise where we, or one of our other clients, have some form of interest in business being transacted for you. If this happens or we become aware that our interests or those of one of our other clients conflicts with your interests, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.
Objectives and Restrictions
Following the issue of this document, the service we will provide to you will be based on your stated objectives.
Provision of information by you
- We will request personal and financial information from you and this must be an honest and accurate reflection of your current position. Failure to do so could affect the advice we give you which may result in an unsuitable product put forward to you for consideration and/or may cause delays in the processing of your loan application.
Please let us know if there are any significant changes to these personal details, both during and after the loan application process has been completed.
If we ask you to fill out any forms or documents, you must do this promptly, accurately and honestly. You may be committing a criminal offence by completing a form with information that is not accurate or truthful. We will not be liable to you if you suffer financially because you have not completed a form or document truthfully or accurately.
Termination Of Authority
You or we may terminate our authority to act on your behalf at any time, without penalty. Notice of this termination must be given in writing and will take effect from the date of receipt. Termination is without prejudice to any services already provided/transactions already initiated, which will be completed according to this Terms of Business letter, unless otherwise agreed in writing. You will be liable to pay for any transactions made or carried out prior to termination and any adviser charges or other fees, which may be outstanding.
The information you have provided is subject to the Data Protection Act 1998 (the “Act”). By submitting your personal data, you consent to us or any company associated with us processing, both manually and by electronic means, your ‘personal data’ for the purposes of providing advice, administration and management.
“Processing” includes obtaining, recording or holding information or data, transferring it to other companies associated with us, product providers, the FCA or any other statutory, governmental or regulatory body for legitimate purposes including, where relevant, to solicitors and/or other debt collection agencies for debt collection purposes and carrying out operations on the information or data.
We may also contact you or pass your details to other companies associated with us to contact you (including by telephone) with details of any other similar products, promotions, or for related marketing purposes in which we think you may be interested
The information provided may also contain ‘sensitive personal data’ for the purposes of the Act, being information as to your physical or mental health or condition; the commission or alleged commission of any offence by you; any proceedings for an offence committed or alleged to have been committed by you, including the outcome or sentence in such proceedings; your political opinions, religious or similar beliefs, sexual life; or your membership of a Trade Union.
By submitting your data, you consent to Epic Finance or any company associated with Epic Finance processing any such sensitive personal data.
By submitting your data, you are happy for Epic Finance or any company associated with Epic Finance to contact you for marketing purposes by e-mail, telephone, post or SMS.
If at any time you wish us or any company associated with us to cease processing your personal data or sensitive personal data, or contacting you for marketing purposes, please contact The Data Protection Officer on 0151 363 6663 or in writing to: Epic Finance Services Limited, Suite 9, The Quay, Princes Parade, Liverpool L3 1BG.
We will treat all personal data and sensitive personal data as confidential and will not process it other than for a legitimate purposes. Steps will be taken to ensure that the information is accurate, kept up to date and not kept for longer than is necessary. Measures will also be taken to safeguard against unauthorised or unlawful processing and accidental loss or destruction or damage to the data.
Subject to certain exceptions, you are entitled to have access to your personal and sensitive personal data held by us. You may be charged a fee (subject to the statutory maximum) for supplying you with such data.
Applicable Law and Jurisdiction
These terms of business will be interpreted and construed in accordance with English law and is subject to the exclusive jurisdiction of the English courts, except if your address is in Scotland, when the courts of Scotland shall have non-exclusive jurisdiction.
This is our standard terms of business upon which we intend to rely. For your own benefit and protection you should read the terms carefully, as by contacting us or using this website you consent to the terms contained within. If there are any terms within this agreement that you do not understand, please ask for further information.