Terms and Conditions
We've made point out of having the world's most entertaining terms and conditions.
Last Updated: 27 June 2025
Terms and Conditions
2. Definitions
“Account” is the credit account opened by Fairlo in your name to record the amount the Borrower owes the Lender under your Agreement.
“Additional Repayments” refers to repayments that the Borrower makes in addition to those made by Direct Debit from their Repayment Plan.
“Borrower” refers to a natural person who has applied for an Account and has entered into an Agreement with the Lender.
“Credit” refers to the amount withdrawn by the Borrower from their Account.
“Credit Agreement” refers to the Regulated Consumer Credit Agreement.
“Credit Assessment” refers to Fairlo’s determination of the Credit Limits for which you are approved. This includes an affordability assessment and a review of the Borrower’s credit history.
“Credit Limit” refers to the maximum total amount of Credit that the Borrower can borrow at any one time.
“Difficult Financial Circumstance” means the occurrence of one of the events listed below or the occurrence of more than one of the events listed below in a series of connected events:
“Direct Debit” is the mechanism your monthly repayment is made. This is processed through the BACs Direct Debit scheme.
“Fairlo Account” refers to the Fairlo website where you can login and manage your Account online.
“Interest Charges” is the interest accrued on the Outstanding Balance.
“Lender”, “we”, “us”, or “Fairlo” refers to Fairlo UK Limited with company number 13566128 and address Wisteria Grange Barn, Pikes End, Pinner, London, United Kingdom, HA5 2EX.
“Monthly Repayment” refers to the monthly amount that the Borrower must repay in accordance with the agreed Repayment Plan
“Nominated Account” is the UK bank or building society account in your name that you can make repayments by direct debit and receive withdrawals into.
“Outstanding Balance” is the total unpaid amount on your Account.
“Personal Data” is the personal information relating to you that we process.
“Repayment Plan” refers to the schedule of monthly repayments to repay the Outstanding Balance on your Account.
“Security Details” are the username and one time passwords, the information on the Account which is personal to the Borrower, and any other information or procedure that can be used for authorising a transaction.
“Statement” is the monthly summary you will receive showing the Credit Limit, the Outstanding Balance, Interest Charges and any Transactions during that period.
“Terms and Conditions” means this document.
“Transactions” refer to Withdrawals, Monthly Repayments and any Additional Repayments initiated by the Borrower.
“Withdrawal” refers to the transfer of money from the Lender’s Account to the Borrower’s Nominated Account.
Last Updated: 27 June 2025
2. Definitions
“Account” is the credit account opened by Fairlo in your name to record the amount the Borrower owes the Lender under your Agreement.
“Additional Repayments” refers to repayments that the Borrower makes in addition to those made by Direct Debit from their Repayment Plan.
“Borrower” refers to a natural person who has applied for an Account and has entered into an Agreement with the Lender.
“Credit” refers to the amount withdrawn by the Borrower from their Account.
“Credit Agreement” refers to the Regulated Consumer Credit Agreement.
“Credit Assessment” refers to Fairlo’s determination of the Credit Limits for which you are approved. This includes an affordability assessment and a review of the Borrower’s credit history.
“Credit Limit” refers to the maximum total amount of Credit that the Borrower can borrow at any one time.
“Difficult Financial Circumstance” means the occurrence of one of the events listed below or the occurrence of more than one of the events listed below in a series of connected events:
“Direct Debit” is the mechanism your monthly repayment is made. This is processed through the BACs Direct Debit scheme.
“Fairlo Account” refers to the Fairlo website where you can login and manage your Account online.
“Interest Charges” is the interest accrued on the Outstanding Balance.
“Lender”, “we”, “us”, or “Fairlo” refers to Fairlo UK Limited with company number 13566128 and address Wisteria Grange Barn, Pikes End, Pinner, London, United Kingdom, HA5 2EX.
“Monthly Repayment” refers to the monthly amount that the Borrower must repay in accordance with the agreed Repayment Plan
“Nominated Account” is the UK bank or building society account in your name that you can make repayments by direct debit and receive withdrawals into.
“Outstanding Balance” is the total unpaid amount on your Account.
“Personal Data” is the personal information relating to you that we process.
“Repayment Plan” refers to the schedule of monthly repayments to repay the Outstanding Balance on your Account.
“Security Details” are the username and one time passwords, the information on the Account which is personal to the Borrower, and any other information or procedure that can be used for authorising a transaction.
“Statement” is the monthly summary you will receive showing the Credit Limit, the Outstanding Balance, Interest Charges and any Transactions during that period.
“Terms and Conditions” means this document.
“Transactions” refer to Withdrawals, Monthly Repayments and any Additional Repayments initiated by the Borrower.
“Withdrawal” refers to the transfer of money from the Lender’s Account to the Borrower’s Nominated Account.