If you have a live loan agreement that was taken out before 1/1/21 and in light of the UK leaving the European Union, the legal ownership of your Credit Agreement has transferred to our group company, CBP DAC, including the transfer of all servicing activity in relation to your Credit Agreement.
CBP DAC is a regulated financial service provider authorised by the Central Bank of Ireland. CBP DAC is authorised to carry on the business of a credit servicing firm due to the operation of section 28(3) of the Central Bank Act 1997.
How does this affect you?
You do not need to take any action:
- There will be no changes to the terms or conditions of your existing Credit Agreement
- Collection of repayments under your existing Direct Debit Mandate will continue
We believe that the changes do not prejudice your rights under the Credit Agreement. As is already the case, the Central Bank of Ireland statutory codes of conduct and regulations continue to apply and you continue to have the benefit of them.
Who is Close Brothers Premium DAC (“CBP DAC”)?
CBP DAC is a wholly-owned subsidiary of CBL. CBP DAC is incorporated in Ireland with registered number 636151, trading as Close Brothers Premium Finance Ireland and has its registered address at:
Swift Square, Building 1, Santry Demesne, Northwood, Dublin 9, D09 A0E4.
CBP DAC is regulated by the Central Bank of Ireland.
Why have these changes occurred?
We are making these changes in order to comply with Irish legal and regulatory obligations as a result of the United Kingdom’s decision to leave the European Union.
What has transferred?
CBL has transferred the legal title and all servicing activity in relation to your Credit Agreement to CBP DAC. All related security as specified in the Credit Agreement, and all ancillary rights and claims in connection with the credit agreement will also be transferred.
How will Close Brothers Premium DAC manage my Credit Agreement?
Once transferred, all servicing activity in relation to your Credit Agreement will be undertaken by CBP DAC.
- As a result, your details, including personal data, have been transferred to CBP DAC to facilitate the on-going servicing of your Credit Agreement.
- CBP DAC have engaged CBL to provide certain ongoing administrative services on its behalf with respect to your Credit Agreement.
- You can contact CBP DAC at the address or contact details shown above, or you can continue to use the contact information as set out in your Credit Agreement.
- Your Irish Credit Bureau (“ICB”) record is unaffected by this change.
If you have any questions about this matter, please contact Braemar Finance on 081 882 7893 or email firstname.lastname@example.org