Paying fees by monthly instalments
The benefits to you …

• Your fees and extras can be paid conveniently by monthly instalments
• This facility does not affect your other credit limits
• You will not be required to provide any security
• You will not be credit checked
• Formalities are minimal: you are asked to sign a direct debit mandate once only
• You can use the scheme for just one term or for the entire period of schooling
• You can offset more expensive credit commitments by diverting funds not immediately needed for school fees, thus enhancing your cashflow
• You need do nothing when your termly fee account arrives from the school if you wish to renew the agreement, knowing that we will notify you or any changes to your new agreement and your monthly payment. The agreement will renew automatically subject to those changes.
• There is free life assurance cover for the fee payer for one term’s fees

The cost …

• The service charge from Holmwoods Termtime Collections is 2.6% of the termly fee and school extras
• This works out at £26 per £1000 of fee and is added to the monthly direct debit payment

Holmwoods Termtime Collections
Premium Credit House, 60 East Street, Epsom, Surrey KT17 1HB
Telephone: 01372 746006 Fax: 01372 746060
Email: htc@pcl.co.uk

Holmwoods Termtime Collections is a partnership between Premium Credit Limited and Holmwoods Termtime Credit Limited.
How the scheme works …

• You complete the simple agreement and mandate which is attached
• You return this to the school
• We will pay the full term’s fees and extras to the school
• We will confirm to you the monthly amount we will take from your account and the due date

And next term? …

• The school will advise us of the next term’s fee and extras
• We will notify you of any changes to the agreement and of the new monthly instalment. This will give rise to a new Agreement for the following school term
• If you wish to cancel the arrangement, you simply need to advise the school before the end of the term
• You do not need to sign a new mandate every term

For example …

If your child’s fees are currently £2500 per term, which would be more convenient from your point of view?

To pay £2500 out of income or capital (or both) or to pay £643.75 a month for four months.

By choosing the monthly option you can:-

• Avoid breaking into capital
• Use your funds in hand to pay other bills