Admiral Loans Terms and Conditions

Please click here if your loan started before 07/06/2017

Terms and Conditions

  1. How and when credit will be provided

    We will provide the credit to you by way of bank transfer. The Amount of Credit will be transferred to you after we have received the signed agreement from you and have completed our verification checks with you.

  2. Interest rate

    Interest will be calculated on a daily basis on the balance of account outstanding which has fallen due but has not been paid commencing on the date we arrange the transfer of the Amount of Credit to you. Interest will be debited to your account each month on the same day of the month as the date payment falls due.

  3. APR

    The APR and the total amount payable have been calculated on the assumption that the agreement remains valid for the full term and that we and you fulfill all our obligations to each other under the agreement on the dates specified in the agreement.

  4. Repayments

    The first repayment is payable within 30 days of us transferring the Amount of Credit to you. You must also make monthly payments as detailed in your credit agreement. We will notify you of (a) the date of the first repayment and (b) the date when the monthly instalments are to begin at the time we transfer the Amount of Credit to you. Each monthly instalment is due and payable on the same day of each consecutive calendar month.

  5. Right to Request a Statement

    You have the right under Section 77B of the Consumer Credit Act 1974 at anytime during the duration of the agreement to receive, on request, and free of charge, a statement in the form of a table showing: (a) the details of each instalment owing under the agreement; (b) the date on which instalment is due, including the amount and any conditions relating to the payment of the instalment; and (c) a breakdown of each instalment showing how much comprises capital repayment, interest payment and, if applicable any other charges.

  6. Missing Payments

    Missing payments could have serious consequences. If you fail to make any repayment by its due date then, in addition to any other rights we may have, interest will continue to be charged on the amounts outstanding at the interest rate set out in your agreement. We will also charge you £12 for each missed or failed payment and/or £45 if we refer your debt to a Debt Collection Agency. We may terminate your loan agreement and require you to pay all sums payable under this agreement early. Adverse information may be passed to credit reference agencies, which could impact your credit rating and could also make access to credit more difficult and the cost of credit more expensive for you in the future. We may also bring legal proceedings against you to recover the amounts we are owed, including for example bankruptcy proceedings. If we obtain a judgment against you, we may seek to enforce that judgment for example by obtaining a charging order against your home. If a charging order is obtained we may also seek an order for the sale of your home. Further legal costs, including court costs, may become due as a result of your breach of this agreement.

  7. Default Charges

    We will charge you £12 for each failed direct debit (a payment we have requested by direct debit but which is declined by your bank) and/or £45 if we refer your debt to a Debt Collection Agency.

  8. Right to Withdraw

    You have the right to withdraw from this agreement without having to give any reason. This right commences on the day after the later of either (a) the day on which the agreement is made or, (b) the date on which we will tell you that we have signed the agreement or (c) the date on which you receive a copy of the executed agreement (if required) and continues for 14 days from that day (the "Withdrawal Period"). To withdraw you must notify us that you intend to do so within the Withdrawal Period. You can do this by telephone or by post.
    If you withdraw from this agreement then you will need to repay the credit advanced and pay us interest from the date of this agreement until the credit is repaid at the interest rate. This must be paid without delay and in any event within 30 days of you giving us notice of withdrawal. The amount of interest payable per day is shown in your credit agreement. To withdraw you must notify us that you intend to do so within the Withdrawal Period. You can do this by telephone on 0333 234 6007 or by post to Admiral Loans, Ty Admiral, David Street, Cardiff. CF10 2EH.

  9. Early Repayment

    You have the right under section 94 of the Consumer Credit Act 1974 to repay early in full or in part. If you wish to pay any amount early you should contact us at Admiral Loans, Ty Admiral, David Street, Cardiff. CF10 2EH or telephone us on 0333 234 6007. We will advise you of the amount that you have to repay the outstanding balance in full, or the impact of paying it in part as the case may be. We will also tell you how you can make the repayment when you contact us. If you repay early in full, as well as paying the outstanding balance, we will also charge you an additional amount because you have paid the loan in full early. The additional amount will be equivalent to up to 58 days of interest at the current rate of interest.

  10. Important information

    1. Payments must be made by Direct Debit on the payment dates set out in your credit agreement (or the following working day where the requested payment date is not a working day). It is essential that you make all payments in full and on time otherwise you will have to make further payments to us to cover the extra interest which may be charged. There may be an occasion where we agree to use an alternative payment collection method, such as collecting the repayments and any other sums you owe to us under this agreement by scheduled debit card payments from your nominated bank account. This is called a continuous payment authority (CPA). We will use the debit card details you have supplied to us for this purpose. If we use CPA, we will notify you before the date the repayment falls due. The required amount will be requested in full from your bank account using the card details you have provided. You agree that there will be sufficient funds available in your bank account to repay us. If we are unable to collect the amount on the day it is due, we will not try to take any further payment using this method unless:
      a. we have told you about the payment refusal; and
      b. you have expressly agreed that we may do so.
      If we are unable to collect an instalment by CPA, we will contact you to find out why the payment has not been made and to agree to an alternative payment arrangement with you.  We will never attempt to claim a part-payment using CPA without your consent to do so. If you are experiencing financial difficulties, please contact us.  You can cancel your CPA at any time by contacting us.
    2. We can terminate the credit agreement (subject to giving you notice under the Consumer Credit Act 1974) immediately: if you are in breach of the agreement (for example if you fail to make payment of any sums due under this agreement on its due date); if steps are taken for a bankruptcy order to be made against you (or its equivalent in Scotland); if you fail to pay a debt as ordered by the court; if you enter into a debt management plan or voluntary arrangement with your creditors (or their equivalent in Scotland); or if you have given false, inaccurate or misleading information to us in connection with this agreement. On termination, the outstanding balance under this agreement will become immediately due and payable.
    3. After the agreement is made, you have the right to change your monthly payment date no more than once in each period of 12 months by contacting us in writing or by telephone. You must give us at least 30 days of the change taking effect. We do not have to allow the change if doing so would mean you did not have to make a monthly payment in any given calendar month or it would affect the overall number of monthly repayments. If you change your repayment date to a later date in the month, as interest is charged on a daily basis, more interest will accrue and be charged to your account so you will have to pay more in total– this extra interest will be collected with the final repayment. Where you exercise this right, we will write to you to confirm the new dates for repayment.
    4. You must notify us in writing within 14 days of the date of any change to your contact details such as your address, telephone number and/or email address. Where you notify us of a change to your contact details, we may use this information in relation to any other products you hold with us and may also update your contact details in relation to those products accordingly.
    5. We may assign, transfer or otherwise sell some or all of our rights under the credit agreement to any person who is appropriately authorised without your consent. Any assignment, transfer or sale will not prejudice your rights. We will notify you if we exercise our rights under this clause.
    6. On occasion, we may relax the terms of the credit agreement, for example by giving you more time to pay, but this will not prevent us from strictly enforcing these terms in the future.
    7. The credit agreement shall be governed by the laws of England and Wales, unless you are resident in Scotland or Northern Ireland, in which case the laws of the country in which you are domiciled in the United Kingdom will apply. Any dispute which arises in relation to the agreement will be dealt with by the courts of England and Wales unless you are resident in Scotland or Northern Ireland, in which case it will be dealt with by the courts of the country in the United Kingdom in which you are resident.
    8. By entering the credit agreement you consent to us communicating with you and sending you documents (including statutory notices unless otherwise required by law) by SMS, email or by post to the telephone number, email address and/or address that you have given to us. Where we send documents to you as attachments to an email, the email will be sent in an HTML format and the documents will be attached as PDFs which may be charged.
  11. Complaints

    If you have a complaint about this agreement and we are unable to resolve it to your satisfaction, you may be able to refer the matter to the Financial Ombudsman Services (FOS) for independent investigation. FOS can be contacted at Exchange Tower, London E14 9SR or on 0800 023 4567 or online at

  12. Data Protection

    Admiral Financial Services Limited is a registered data controller (No.ZA257412). The data controller is Admiral Financial Services Limited and Pancredit Systems Limited (No. Z7159236) is the data processor. You acknowledge that by providing your personal data to us, you consent to its processing in the manners outlined in our Privacy Policy.
    If you have any queries about the manner in which your data is processed, please write to: Data Protection Officer, Admiral Financial Services Limited, Tŷ Admiral, David Street, Cardiff CF10 2EH.

  13. About us

    Admiral Financial Services Limited is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales Number 10255225. Registered Office: Tŷ Admiral, David Street, Cathays, Cardiff CF10 2EH.
    The Financial Conduct Authority of 25 The North Colonnade, London E14 5HS is the supervisory authority under the Consumer Credit Act 1974.