Cancellation Rights

RIGHT TO CANCEL

The Credit Contracts and Consumer Finance Act 2003 gives you a right, for a short time after the terms of this contract have been disclosed to you, to cancel the contract.

How to cancel:

If you want to cancel this contract you must give written notice to the creditor. *You must also -
a) return to the creditor any advance and any other property received by you under the contract (but you cannot do this if you have if you bought any property at an auction, by tender or by private sale); or
b) pay the cash price of the property or services within 15 working days of the day you give notice.

Time limits for cancellation:

If the disclosure documents are handed to you directly you must give notice that you intend to cancel within 9 working days after you receive the documents.
If the disclosure documents are sent to you by electronic means (for example, email) you must give notice that you intend to cancel within 8 working days after the electronic communication is sent.
If the documents are mailed to you, you must give the notice within 9 working days after they were posted.

Saturdays, Sundays, and national public holidays are not counted as working days.

What you may have to pay if you cancel:
If you cancel the contract the creditor can charge you -
a) the amount of any reasonable expenses the creditor had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports, etc.); and
b) interest for the period from the day you received the property or services until the day you either pay the cash price for the property or services or return the property to the creditor.

This statement only contains a summary of your rights or obligations in connection with the right to cancel. If there is anything about your rights and obligations under the Credit Contracts and Consumer Finance Act 2003 that you do not understand, if there is a dispute about your rights, or if you think that the creditor being unreasonable in any way, you should seek legal advice immediately.