Legal

Terms & conditions
Important information
The Banking Code and you
Finance & Leasing Association Code of Practice

Terms & conditions

1. Parties

This agreement is between Nationwide Trust Ltd of Nationwide House, 20 Lower Dagnall Street, St Albans, Herts AL3 4RR and the borrower(s) named on the front of this agreement.

2. Definitions

In this Agreement "you" means the borrower(s) and "we" means Nationwide Trust Limited, its successors and assigns. Headings are for convenience only and shall not effect the interpretation of any term.

3. Right to demand earlier payment

If any amount payable by you is overdue for more than fourteen days or if any statement or representation made by you in the course of applying to enter this Agreement is found to be incorrect then you shall, if we so demand by written notice, immediately pay to us the amount required to settle your loan. If you have fallen behind with your payments we may pass information about what you owe us to a credit reference agency. Credit reference agencies record this information which may be seen by other companies you may apply to for a loan or credit and this may affect your ability to get credit.

4. Overpayments

We will not accept any payments in excess of £100 above your contractual monthly payment.

5. Appropriation

Under the terms of Section 81 of the Consumer Credit Act 1974, we may use any payment received from you as we see fit, as payment towards any account you have with us.
If you have any account with Nationwide Building Society, you agree that we may use money from that/those account(s) to reduce or repay any sum that you have failed to pay us.

6. Joint borrowers

If this is a joint Agreement, you shall each be fully liable for all sums outstanding under the Agreement and not just half the balance.

7. Credit checks

An 'association' between the joint applicant and/or any individual identified as your financial partner, will be created at credit reference agencies, which will link your financial records. This association, and any others that either of you may have will be taken into account in all future applications by either or both of you. This linking will continue until one of you successfully files a 'dissociation' at credit reference agencies.
We may make periodic searches within Nationwide, at credit reference agencies and fraud prevention agencies to manage your account with us, to take decisions regarding credit, including whether to make available or to continue or extend existing credit. The searches will not be seen or used by other lenders to assess your ability to obtain credit.

8. Concessions

No time or indulgence which we give you shall affect your obligations or our rights under this agreement.

9. Change of address

You will notify us in writing within seven days of any change in your address.

10. Communications

Unless otherwise agreed, all communications and documentation in relation to this contract will be in English.

11. Complaints

If you would like further information on our complaints procedure, or wish to make a complaint, please:
(i) Write to Customer Relations Manager, Nationwide Trust Ltd., Nationwide House, 20 Lower Dagnall Street, St Albans, Herts. AL3 4RR
(ii) Talk to an advisor at one of our branches
(iii) Phone 08459 30 20 12 and talk to one of our advisors
(iv) Go to our website, www.nationwide.co.uk, and select the option "Contact Us"
If you feel that we have not addressed your concerns satisfactorily, you may refer the matter to the Financial Ombudsman Service. The address is: The Financial Ombudsman Service (FOS), South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone number: 0845 080 1800. Further details can be found in our complaints procedure leaflet - "A Complaint - how we can put it right". Complaining to the Ombudsman won't affect your legal rights.

12. Your right to cancel

If you wish to cancel this agreement after your funds have been issued to you, please complete the Cancellation Form (which will be enclosed with your funds issue letter) and send it with a cheque for your full loan amount (including any funds used to pay off an existing loan) made payable to Nationwide Trust Ltd., to P & P Department, Nationwide House, 20 Lower Dagnall Street, St Albans, Herts. AL3 4RR. You have 14 days to cancel this Agreement.

13. Affiliation

Nationwide Trust is a member of the Finance & Leasing Association (Registration Number 170).

14. English Law

You and we can choose the law which applies to this Agreement. Unless you and we agree otherwise, English Law will apply.

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Important information

Provision of these credit facilities does not confer membership rights in Nationwide Building Society.

Nationwide Trust Limited is a member of the Finance & Leasing Association. If we cannot settle a complaint to your satisfaction through our internal procedure, you may refer to the Financial Ombudsman Service. Complaining to the Ombudsman will not affect your legal rights.

Nationwide Trust Limited subscribes to the Finance & Leasing Association Code of Practice, the Banking Code and the Guide to Credit Scoring 2000. Copies of the Codes are available on request.

You and we can choose the law which applies to this contract unless you and we agree otherwise, English Law will apply. All communications and documentation in relation to this contract will be in English. If you are in breach of your loan agreement, we may use any money you have in another Nationwide Building Society account to repay or reduce the amount you owe us on your loan.

Please note for various legal, regulatory and customer service requirements your call may be recorded. Nationwide Trust Limited is a wholly owned subsidiary and appointed representative of Nationwide Building Society. Nationwide Trust Limited, registered in England, number 01060355. Registered office Nationwide House, 20 Lower Dagnall Street, St Albans, Herts AL3 4RR.

Nationwide Building Society is authorised and regulated by the Financial Services Authority for life assurance, pensions, unit trusts, insurance and regulated mortgages.

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The Banking Code and you

Setting standards for banks, building societies and other banking service providers.

We subscribe to the Banking Code. Not all financial institutions do. Doing your banking with someone who subscribes to the Banking Code gives you extra confidence. You should check that any other financial institution you deal with for banking services (such as savings accounts, current accounts, loans and credit cards) also subscribes.

The Banking Code sets minimum standards of good service that you can expect from banks, building societies and other providers of banking services. This leaflet tells you about our key commitments and responsibilities to you under the Banking Code.

Our key commitments to you

We promise that we will act fairly and reasonably in all our dealings with you by meeting all the commitments and standards in this Code. The key commitments are shown below.

• we will make sure that our advertising and promotional literature is clear and not misleading and that you are given clear information about our products and services
• we will give you clear information about accounts and services, how they work, their terms and conditions and the interest rates which may apply
• we will help you use your account or service by sending you regular statements (where appropriate) and we will keep you informed about changes to the interest rates, charges or terms and conditions  
• we will help you to switch your current account between financial institutions subscribing to this Code
• we will lend responsibly
• we will deal quickly and sympathetically with things that go wrong and consider all cases of financial difficulty sympathetically and positively
• we will treat all your personal information as private and confidential, and operate secure and reliable banking and payment systems
• we will publicise this Code, have copies available and make sure that our staff are trained to put it into practice

How you can find out more

The Banking Code is updated regularly. The most recent edition came into force on 31 March 2008. It contains standards that cover:

• choosing products and services which meet your needs
• running your account
• borrowing money
• interest rates, charges and terms and conditions, and how you will be told about any changes to these
• cards and PINs
• protecting your account and your personal information
• moving or closing your account
• dealing with financial difficulties
• complaints

How to make a complaint

If you ask us, we will tell you how to make a complaint and how quickly we will deal with it. If we cannot settle the complaint to your satisfaction, you may ask the Financial Ombudsman Service to look into it. You can contact them both at South Quay Plaza, 183 Marsh Wall, London, E14 9SR.

Copies of the Banking Code

If you would like a free copy of the Banking Code, you can get one from us. Or you can view and download a copy from the British Bankers' Association's website at http://www.bba.org.uk.

Banking Code Standards Board

The Banking Code is monitored by an independent organisation – the Banking Code Standards Board. It makes sure that any institutions which subscribe to the Code follow it and it can take action if any institution fails to do so. You can contact them at Level 12, City Tower, 40 Basinghall Street, London, EC2V 5DE or via their website at www.bankingcode.org.uk.

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Finance & Leasing Association Code of Practice

The Finance & Leasing Association (FLA) is the major UK representative body for the UK finance and leasing industry.

The FLA campaigns for best practice in lending and leasing. The Code sets out standards of good practice for the finance and leasing industry and is intended to assure all who obtain finance from full members that they are doing business with reputable organisations.

Nationwide Trust, as a member of the Finance and Leasing Association (FLA), promises to uphold the 11 key commitments outlined below. These commitments apply to the conduct of business for all products and services provided to customers.

• act fairly, reasonably and responsibly in all our dealings with you
• make sure that all services and products meet the FLA Code of Practice and all relevant laws and regulations
• not discriminate between consumers on grounds of race, gender, disability, ethnic origin or sexual preference
• help you when you need information and guidance
• act honestly and try to make sure that credit brokers, and all other suppliers of goods and services we do business with, do the same
• keep your personal information confidential
• correct mistakes and handle complaints quickly
• consider cases of financial difficulty sympathetically and positively
• follow any guidance notes that the FLA issue, where relevant
• train our staff to make sure that the procedures they follow reflect the commitments set out in this code
• make copies of this Code freely and readily available to consumers

Copies of the Finance and Leasing Code are available from Nationwide Trust Limited, 20 Lower Dagnell Street, St Albans, Herts. AL3 4RR or visit the Finance & Leasing Association website at http://www.fla.org.uk .

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