Section Sch1 — Credit Contracts and Consumer Finance Act 2003: Key information concerning consumer credit contract

Schedule 1 Key information concerning consumer credit contract s 17 The following information is the key information concerning a consumer credit contract as is applicable: Full name and address of creditor (a) the full name and full address of the creditor: Initial unpaid balance (b) the unpaid balance as at the date that is specified in the disclosure statement as the effective date of the statement, accounting for every payment made by the debtor on or before that date: (c) the amount and a description of each advance, charge, or payment accounted for in the unpaid balance disclosed under paragraph (b) : Subsequent advance (d) the amount, a description, and timing of each advance to be made after the effective date of the disclosure statement, if ascertainable: Total advances (e) the total of all advances made or to be made in connection with the contract, if ascertainable: Credit limit (f) the credit limit: Annual interest rate (g) the annual interest rate or rates under the contract (with the rate or rates being expressed in terms of a percentage): (h) if there is more than 1 rate, how each rate applies: (i) if an annual interest rate is fixed for the term or any part of the term of the contract, the period during which the annual interest rate is fixed: (j) if an annual interest rate is determined by referring to a base rate, particulars that describe how the annual interest rate is determined, including— (i) the name of the base rate or a description of it; and (ii) the margin or margins (if any) above or below the base rate to be applied to determine the annual interest rate; and (iii) where and when the base rate is published or, if it is not published, how the debtor may ascertain the rate; and (iv) the current annual interest rate or rates: Method of charging interest (k) the method of calculating interest charges payable under the contract and the frequency with which interest charges are debited under the contract: Total interest charges (l) the total amount of interest charges payable under the contract, if ascertainable (but only if the contract would, on the assumptions prescribed by regulations, be paid out within 7 years of the date on which credit is first provided under the contract): Interest free period (m) if the contract involves an interest free period, the following particulars: (i) the length of the interest free period: (ii) when interest will begin to accrue: Credit fees and charges (n) a description of the credit fees and charges (other than interest charges) that are, or may become, payable under the contract (unless the fee or charge is disclosed under paragraph (c) ), including— (i) when each fee or charge is payable, if ascertainable; and (ii) the amount of each fee or charge if ascertainable, but, if not, the method of calculation of the fee or charge: Payments required (o) if more than 1 payment is to be made— (i) the amount of the payments or the method of calculating the amount; and (ii) if ascertainable, the number of the payments; and (iii) if ascertainable, the total amount of the payments (but only if the contract would, on the assumptions prescribed by regulations, be paid out within 7 years of the date on which credit is first provided under the contract); and (iv) when the first payment is due, if ascertainable, and the frequency of payments: Full prepayment (p) how the reasonable estimate of the creditor's loss on full prepayment is calculated and whether a statutory procedure prescribed in regulations is used: Security interest (q) a description of any security interest that is or may be taken in connection with the contract (including a description of any property that is subject to, or proposed to be subject to, any security interest) and the extent to which the debtor's obligations to the creditor are secured: Default interest charges and default fees (r) particulars that describe any default interest charges and default fees that may be payable under the contract including how and when default interest charges and default fees would become payable: Debtor's right to cancel (s) a statement of the debtor's rights under section 27 in the following form (unless the contract is a revolving credit contract): Continuing disclosure statements (t) the frequency with which continuing disclosure statements will be provided (assuming that section 21 does not apply): Consent to electronic communications (u) if the creditor consents to receive notices or other communications from the debtor in electronic form, whether by means of an electronic communication or otherwise, a statement to that effect: Other items (v) any other information or warnings prescribed by the regulations to be information that is key information concerning a credit contract.