PRE-CONTRACT

PRE-CONTRACTCREDIT
CREDITINFORMATION
INFORMATION
(Standard European Consumer Credit Information)

1. Contact details
Creditor. Oakam Limited
Address. 3rd Floor, 172 Tottenham Court Road, London, W1T 7NS
Telephone number(s). 020 3917 3706
E-mail address. help@oakam.com
Fax number. 02070996313
Web address. www.oakam.com

2. Key features of the credit product

The type of credit Fixed Sum Loan Agreement
The total amount of credit.
£800.00
This means the amount of credit to
be provided under the proposed
credit agreement or the credit limit.

How and when credit would be provided

If the agreement is made in store, we will disburse the loan by cheque (posted to
your address), cash (maximum £1,200) or BACS/Faster Payment. If the
agreement is made by telephone or internet, we will disburse the loan by
BACS/Faster Payment within 5 days of the agreement date. BACS/Faster
Payments normally reach recipients' accounts within 24 hours (bank working day).

The duration of the credit agreement 6 months

Repayments 13 payments, the first to be made on 9 March 2018, thereafter every 2 weeks on a
Friday until 24/08/2018. The first repayment will be £172.11, the remainder of the
repayments will be £116.92.

The total amount you will have to pay £1,575.15 (assuming the interest rate is not varied)
This means the amount you have
borrowed plus interest and other costs.

3. Costs of the credit

The rates of interest which apply to the 279.0% This is a simple rate of interest.
credit agreement
Subject to giving you at least 30 days written notice, we may vary the interest rate
as required to respond proportionately to an increase of more than 2% in bank base
rates or a decision or recommendation of a Court, Regulatory Authority or
Ombudsman, which has occurred or we reasonably expect will occur.
Annual Percentage Rate of Charge (APR)
1294.8% variable. In calculating the APR no account has been taken of any
This is the total cost expressed as an variation which we may make to the interest rate as described above.
annual percentage of the total amount of
credit.
The APR is there to help you compare
different offers.

1
 Related costs

Any other costs deriving from the credit

£0.00 (applicable initial administration fee)
agreement

Costs in the case of late repayments There are no additional costs associated with late repayments.

Consequences of missing payments Missing repayments could have severe consequences and make obtaining
credit more difficult. We are required to report data about your repayment
performance to the Credit Reference Agencies. You may also face legal
proceedings.

4. Other important legal aspects

Right of withdrawal You have the right to withdraw from the credit agreement before the end of 14 days
beginning the day after the day on which the agreement is executed by us. You
must repay, without delay and no later than 30 calendar days after giving us notice
of withdrawal, the credit and the interest accrued from the date the credit was
provided to the date of repaying it. The amount of interest payable per day is £6.13.
Details of how and to whom you must pay the credit and interest are shown in
clause 2.1 of the terms and conditions.

Early repayment You have the right to repay the credit early at any time in full or partially.

Consultation with a Credit Reference If we decide not to proceed with a prospective regulated consumer credit
Agency agreement on the basis of information from a credit reference agency we must,
when informing you of the decision, inform you that it has been reached on the
basis of information from a credit reference agency and of the particulars of that
agency.

Right to a draft credit agreement You have the right, upon request, to obtain a copy of the draft credit agreement free
of charge, unless we are unwilling at the time of the request to proceed to the
conclusion of the credit agreement.

The period of time during which the Pre contract information is valid for seven days if you applied over the phone or in
creditor is bound by the pre-contractual store and one day if you applied through our mobile app.
information

5. Additional information in the case of distance marketing of financial services

(a) Concerning the creditor

Registration number 678734

The supervisory authority. Financial Conduct Authority, 25 The North Colonnade, London E14 5HS

(b) Concerning the credit agreement

The law applicable to the credit English law and the jurisdiction of the English Courts will apply to this contract, save
agreement and/or the competent court. where the borrower lives in any other part of the United Kingdom, in which case the
law and courts of that place shall apply.

(c) Concerning redress

Access to out-of-court complaint and The Financial Ombudsman Service

redress mechanism. Exchange Tower
London
E14 9SR Tel: 0800 0234 567

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ADDITIONAL INFORMATION

Cost of Credit

The maximum charge for credit will be the lower of either the interest rate, fees and charges or 100% of the
original loan.

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