PLEASE RETAIN THIS FOR FUTURE REFERENCE AS IT ALSO CONTAINS INFORMATION WHICH WILL BE USEFUL TO YOU DURING THE LIFE OF YOUR LOAN

Buy to Let Second Charge LoansCustomer Information

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR PROPERTY.

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About Precise Mortgages

Precise Mortgages is a trading name of Charter Court Financial Services Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register Firms Reference Number is 494549.

You can check the Financial Services Register by visiting their website www.fsa.gov.uk/register/ or by contacting them on 0800 111 6768.

You can contact us to discuss any aspect of a loan on 0800 298 5714 or write to us at:

Precise Mortgages PO Box 6075 Wolverhampton WV10 6TD

Complaints

If you have a complaint about the service you have received from your loan broker, please contact them; we are not responsible for any advice given or recommendation made by your loan broker or for the service they have provided to you.

Our leaflet ‘Handling your complaints effectively’ explains what you need to do if you want to make a complaint about us. Please ask for a copy if you are not happy with the service you have received from Precise Mortgages.

Precise Mortgages is covered by the Financial Ombudsman Service.

Interpretation

Throughout this booklet, ‘we’, ‘our’ and ‘us’ means Charter Court Financial Services Limited and anyone we transfer our rights to under the Loan Agreement.

‘You’ means the customer(s) named in the Loan Agreement and anyone getting any title or interest in the property through you and you should read words such as ’your’, ‘yours’ etc. in the same way.

General

You will have received the following documents at the same time as part of your loan application:

› the Loan Agreement (please consider whether the loan meets your needs);› this booklet (which provides information about your Loan Agreement with Precise Mortgages but it is not part of that Agreement);› our leaflet ‘A Guide to the use of your personal and business information and Credit Reference and Fraud Prevention Agencies’ (which gives you more details about the information we hold about you and how we use it);› the Loan Application Form (which includes a Declaration at the end); › our Tariff of Charges (which explains the fees and charges which you may have to pay under your Loan Agreement).

Before signing your Loan agreement (which incorporates a LegaL charge) pLease read aLL these documents carefuLLy and keep them to refer to in the future.

the Loan wiLL Be secured against your property so if you do not keep to the terms of the Loan agreement we can appLy for a court order for possession of the property.

We may monitor or record telephone calls to check that we have carried out your instructions correctly and to help improve our quality of service.

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Any questions?

Please contact your loan broker if you have any questions about your loan before we make a loan to you or call our Customer Services Team on 0800 298 5714 once your loan account is open.

you shouLd seek independent advice if you are unsure whether any terms of the Loan agreement are suitaBLe for you.

About your loan application

your loan broker and you Before you apply, your loan broker will give you the proposed Loan Agreement, which contains all the terms and conditions of the Loan Agreement and Key Financial Information for you to sign and a copy for you to keep.

The Other Financial Information section of your Loan Agreement will include details of any fee charged by your loan broker for arranging your loan. We will pay a commission to your loan broker for introducing you to us and they will confirm this commission to you in writing during the loan application process.

We will accept your application on the understanding that you have read the Loan Agreement itself and the other documents referred to above and considered the nature of the obligations you are taking on. However, we will not give you a loan if we do not believe that it is in your best interests to do so, for example if it would adversely affect your financial situation.

Loan purpose and debt consolidation You should consider whether there are any features of the Loan Agreement which may make the loan unsuitable for your intended use and discuss any concerns you may have with your loan broker.

If you are taking out a loan to repay existing debts, it is important you understand that by consolidating these debts, you may pay a higher rate of interest or higher charges and the term of the loan may be longer. The total interest payable as a result of spreading the debt over a longer period may be higher as a result and you may also be securing previously unsecured debt against your property.

Your loan broker will have your authority to act for you in your loan application and we may provide information to him about its progress in writing, by telephone, fax, email or sms text message.

It is important that you inform your loan broker and us of any information about your health or general well being that you feel is relevant to your loan application.

think carefuLLy Before securing other deBts against your property.

Joint applications

We will accept information from either of you; if you are giving us information that is not about you, the other person must agree for you to give it to us and for us to use it for the application. We will share any information given to us about you, for the application, with your joint applicant.

You are individually and jointly responsible for all of the loan obligations; this means that as well as being responsible together, you are responsible individually in full for repayment of the loan and the other obligations in the Loan Agreement and Legal Charge.

Sometimes, you may not both benefit from taking out a loan, for example, if the money is being used to repay debts in one name, or to finance a business that only one of you owns; if this is the case, you should consider taking independent legal advice to ensure that the loan is right for you.

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Accuracy of, and changes to, your information

It is important that any information you give to us, provided by you or not, is true and accurate. Any loan amount, which we indicate may be available to you, is based on the information given to us and we may decide not to proceed; if the loan has been taken out, we may require repayment in full if any of that information is not true and accurate.

If your circumstances change at any time, please keep us fully informed and provide any additional information that we may need to proceed with the application. We can decide not to proceed with any loan if we identify any inaccuracies in information supplied in the application. It is an offence to knowingly make a false, inaccurate or misleading declaration when applying for a loan. You may face criminal prosecution and/or civil action for recovery of any losses incurred by us if you make such a declaration. We will also record this and may pass this information to Fraud Prevention Agencies and other organisations involved in crime and fraud prevention.

Cancelling your application

You are free to cancel your loan application at any time, up until the time when both you and we have signed the Loan Agreement and we have sent money to you or your chosen creditor(s) to repay existing debts. If you change your mind and don’t want to go ahead, please tell your loan broker by writing to or calling them.

After we have released the loan and opened your loan account, you cannot cancel the loan but you can pay it back at any time by contacting our Customer Service Team – please see the Section below ‘Paying off your loan early’.

Affording your loan

The amount of your monthly payment will be set out on the Loan Agreement and we will send you a welcome letter after we have made your loan, which will confirm the first and regular monthly payments that you will need to make. You must ensure that you can afford rental income or terms from your Buy to Let property or these payments now and if you know that there may be changes to your circumstances in the future, for example, a change in rental income or Buy to Let terms.

Except in any period when the interest rate is fixed, your loan payments will vary if there is a change in your rate of interest; this means that the total amount you pay back to us may be different to that set out in the Loan Agreement.

When you apply to us for a loan, we use your financial and other information to decide how much we may lend to you; we obtain information from Credit Reference and Fraud Prevention Agencies to help us do this. We do this using a process called ‘credit scoring’.

Credit scoring produces a ‘score’ based on your individual information and circumstances. We compare this score with information collected over a number of years, which helps us to work out whether we can agree the loan or not and if so, how much we can lend to you.

About the property

assessing the value of the property We will arrange for a valuation to be carried out on the property to help us decide if the property is adequate security for the loan. The valuation must be provided by a valuer on our panel of approved independent valuers.

We may use a valuation model to assess the current value of your property rather than carrying out a physical inspection of it. Your loan broker will tell you which method we are using.

The valuer is not our agent for the purposes of any valuation or report and we accept no responsibility for the contents of any valuation or report. Please be aware the report will be carried out to help us assess your application only and you should not rely on it for any other purpose.

Your loan broker will be responsible for paying the costs of the valuation; they are not allowed to charge you any upfront fees for the valuation or your loan application.

If we give you a loan, this does not mean that we are making any promises or guarantees about the value of the property, the reasonableness of any price you may have paid or are paying for it, the state or condition of the property or the accuracy of the report.

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About your loan agreement

checking the details Please read the entire Loan Agreement (and the Legal Charge incorporated in it) so that you understand what you are entering into paying particular attention to the sections ’Key Financial Information’, ’Other Financial Information’ and ‘Key Information’.

If you have any questions about any aspect of the Loan Agreement you should contact your loan broker to discuss before signing. Do not sign the Loan Agreement and Legal Charge if you are unsure about any aspect of the loan.

releasing the money We will send the money following the instructions you gave during the application; If you are clearing an existing secured loan on your property, we will send the funds directly to the company concerned.

We will charge interest on the amount you borrow from the day we release the loan funds. If you are clearing unsecured loans and credit cards, it is in your interest to send the funds to those companies as quickly as possible.

About Insurance

insuring the property It is a condition of your Loan Agreement that you ensure adequate buildings insurance is in place to cover loss and damage to the property throughout the period of the loan.

If we have obtained a valuation on your property we will tell you the reinstatement cost for insurance purposes. It is important that you ensure your current building insurance policy covers the reinstatement cost.

maintaining cover You must keep the property insured and ensure that the amount insured keeps up with inflation. If you make alterations to the property (extensions, conservatories etc) you may need to increase the amount of cover.

You must pay all premiums to your insurer on time to prevent the policy lapsing. If you are without insurance cover for whatever reason you must tell us immediately.

what you should cover As a minimum, the amount insured must equal the rebuilding cost in the valuation report and should cover:› fire, explosion, lightning, earthquake› bursting, leaking or overflow of water tanks, pipes or apparatus› storm or flood› subsidence/heave or landslip› impact by vehicles, trains, aircraft or animals› riot, civil commotion, labour and political disturbances, vandalism and acts of malicious persons.

protection for loss of income You may wish to consider protecting you and your family against the risk of losing your income; your loan payments are not automatically protected in the event of accident, sickness or unemployment. If you are unable to work, you may experience difficulty repaying your loan and risk losing your property.

Your broker may be able to help you arrange a policy; we cannot advise you on the suitability of any arrangements that you may make privately or through your broker.

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About your loan account

your regular monthly payments We will collect your monthly repayments by Direct Debit from your bank account; your Welcome Letter will show you the initial amount that we will collect and when.

It is your responsibility to ensure that sufficient money is in your bank account when payments are called for. Your bank may charge you for the cost of returning our payment request and you will also incur costs from us if your account goes into arrears.

when your payments are due We will collect your first payment one calendar month after we complete your loan. For example if your loan completes on the 19th of the month, the first payment will be due on the 19th of the following month, and on the same date in each month afterwards until the end of the loan term.

If your loan completes on the 29th, 30th or 31st of any month, then in any month which does not have such a date, we will collect your monthly payment on the last working day of that month.

We do not normally allow you to change your payment date, so please discuss the completion date of your loan with your loan broker, who will tell Precise Mortgages of the preferred completion date.

interest rate and rate changes The initial interest rate is shown in your Loan Agreement and it is variable (except during any fixed rate period stated in your Loan Agreement). We charge interest on the balance outstanding each day (daily interest) and add it to your account balance at the start of each month.

The interest rate on your loan tracks the Bank of England Base Rate (BBR). We will change the interest rate on your loan immediately following any change to BBR, but your monthly payment will not change until the following month; we will write to you to let you know what your new monthly payment will be. If you have a fixed rate of interest, the interest rate on your loan will not change during the fixed rate period, which means that your monthly payments will not change during that period.

If the rate of interest increases above that shown in your Loan Agreement, then your monthly payment and the total amount you have to repay to us over the loan period will also increase.

payment holidays You are not allowed to take ’payment holidays’ under your Loan Agreement which requires you to make consecutive monthly payments. If you do not make a payment when it falls due, you will have to pay a late payment fee in accordance with our Tariff of Charges.

further advances It is not possible to increase the amount of borrowing on an existing loan. If you require further borrowing, you can apply for a new loan through your chosen loan broker to include the additional amount and the amount outstanding on your existing loan with us.

capital and interest Loan agreements Your loan is on a capital repayment basis. This means that you pay off some of the amount you borrowed every month together with interest; if you keep up your monthly payments your loan balance will reduce every month and your loan will be repaid by the end of the loan term.

interest only agreements Your loan is on an interest only basis. This means that you only pay off interest each month. The amount you borrowed (including loan amount, any broker fee and lender fee) will not reduce and the full amount originally borrowed will become payable at the end of the loan term.

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paying off your loan early You can settle this Agreement in part or in full early at any time by making a request for early settlement by writing to us at the address above. If you settle this Agreement in full, you will have to pay an early settlement charge in accordance with the table shown below; this charge will be a percentage of the amount required to settle this Agreement in full (but excluding any unpaid interest and fees) and we will show the early settlement charge in the settlement statement we send to you:

Early Settlement % When Payable › 3% During the first year of the Term of the Agreement › 2% During the second year of the Term of the Agreement › 1% During the third year of the Term of the Agreement

If you settle this Agreement in part, you will have to pay an early settlement charge calculated as a percentage of the amount you repay, such percentage being calculated in accordance with the table shown above; we will show the early settlement charge in the settlement statement we send to you. Please see the ‘Changes to this Agreement and Early Settlement’ section of the Loan Agreement for examples of the amounts that you would need to pay if you settled the loan early. If you wish to repay the loan or in part, please ask us for a settlement quotation and we will send this to you within 7 working days.

Your settlement quotation will include the following information: › the amount you owe on your account; › the total amount you will have to pay to settle your loan early (the ‘Settlement Figure’); › the date you should pay the settlement figure by and confirmation that you are not entitled to any rebate on early settlement as we charge interest on a daily basis.

A repayment of part of the outstanding balance would mean that either the loan term could be reduced (if the monthly repayment remained the same) or the monthly repayment could be reduced (if the loan term remained the same). Either way, the overall amount of interest charged would be less as a result of a capital repayment

You must continue to pay your normal monthly instalments until you have paid your loan in full.

Payment difficulties If you experience difficulty meeting your loan payments, you can contact us by writing to us at PO Box 6075, Wolverhampton WV10 6TD or you can call us on 0800 781 8558; our team is available Monday to Friday 8.00am – 8.00pm (excluding Public Holidays in England & Wales) and on Saturdays from 9.00am – 12 noon. We have a team of experienced staff available to provide you with information and support. You can also find useful information on the Money Advice Service website at www.moneyadviceservice.org.uk or by calling 0300 500 5000.

If you miss a payment or make your payments late this could have severe consequences, for example the total cost of your borrowing will increase and you may have to pay default charges in accordance with our Tariff of Charges and additional interest. We will tell credit reference agencies if you miss a payment and this will mean that your credit rating will also be affected and may make it more difficult or more costly for you to borrow in the future.

If you do not make your payments on time and we are unable to agree a way forward with you, we may have to commence legal proceedings to obtain a possession order; you will have to pay the costs associated with those proceedings and you may lose your property.

We will only seek possession of your property as a last resort after we have discussed all other available options with you.

charges You must pay any fees and charges payable under the Loan Agreement; when you take out a loan with us we will give you a copy of our Tariff of Charges, which contains a full list of all the fees and charges that may apply.

If you do not pay these fees and charges, we will add them to the outstanding balance and we will charge interest on them until you repay them in full.

We may change any fee or charge or introduce new ones to reflect, proportionately, the reasonable changes to our administrative costs. If we do this we will give you at least 30 days’ notice, unless the change is not to your disadvantage (in which case we may make the change immediately).

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selling your house If you decide to sell your house, you will have to repay the existing loan on completion of your sale. It may be possible to arrange a new loan with us on your new property.

annual statements We will send you an Annual Statement 12 months after we complete your loan and on or around each anniversary afterwards. We will send you a copy of our current Tariff of Charges with your Annual Statement.

our right to transfer your loan Like other lenders, we reserve the right to transfer or assign your loan to another person. This means that, for example, we may in our discretion “sell” the loan by transferring or assigning our rights under it; when you complete your loan, you agree that we may do this without giving notice to you.

IF YOU HAVE ANY qUESTIONS OR ARE UNSURE ABOUT ANY ASPECT OF THE LOAN INCLUDING INFORMATION PROVIDED TO YOU VERBALLY OR IN WRITING, YOU SHOULD SEEK ADVICE FROM

YOUR LOAN BROKER.

We can provide literature in large print, Braille and audio tape. Please ask us for this leaflet in an alternative format if you need it.

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.2)Precise Mortgages is a trading name of Charter Court Financial Services Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial

Conduct Authority and the Prudential Regulation Authority (Financial Services Register Firm Reference Number 494549). Registered in England and Wales with company number 06749498. Registered office: 2 Charter Court, Broadlands, Wolverhampton WV10 6TD.