1. About These Terms

These Terms and Conditions govern your use of Lumo services and your loan agreement with us. By applying for or accepting a loan, you agree to be bound by these terms.

Lumo is operated by SITE HOLDING LIMITED, a company based in Dubai, United Arab Emirates.

2. Eligibility

To be eligible for a loan, you must:

• Be at least 18 years old
• Be a UK resident
• Have a regular income
• Have a valid UK bank account
• Not be currently bankrupt or in an IVA

Meeting these criteria does not guarantee loan approval.

3. Application Process

When you apply for a loan, we will conduct a soft credit search to assess your eligibility. This will not affect your credit score. If you proceed with a full application, we will conduct a hard credit search, which will be visible on your credit file.

4. Loan Agreement

If your application is approved, we will provide you with a loan agreement that includes:

• Loan amount
• Interest rate and APR
• Repayment schedule
• Total amount repayable
• Any fees or charges

You will have a 14-day cooling-off period to cancel the agreement without penalty.

5. Repayments

Repayments will be collected automatically from your nominated bank account on the agreed dates. It is your responsibility to ensure sufficient funds are available.

If you anticipate difficulty making a payment, contact us immediately. We may be able to arrange alternative payment arrangements.

6. Late Payments

If you miss a payment or make a late payment:

• You may be charged a late payment fee
• It may affect your credit score
• We may take recovery action
• Additional interest may accrue

7. Early Repayment

You can repay your loan early at any time without penalty. You will only pay interest for the period you've had the loan. Contact us to arrange early repayment.

8. Default

If you fail to make payments as agreed, we may:

• Report the default to credit reference agencies
• Instruct debt collection agencies
• Take legal action to recover the debt
• Demand immediate repayment of the full outstanding balance

9. Changes to Terms

We may change these terms from time to time. We will notify you of any material changes at least 30 days in advance. Your continued use of our services after the notice period constitutes acceptance of the new terms.

10. Complaints

If you're unhappy with our service, please contact us. We have a formal complaints procedure outlined in our Complaints Procedure document. If you're not satisfied with our response, you can refer your complaint to the Financial Ombudsman Service.

11. Governing Law

These terms are governed by English law and subject to the exclusive jurisdiction of the courts of England and Wales.

12. Contact Information

Lumo
SITE HOLDING LIMITED, Dubai
Dubai, United Arab Emirates
Email: hello@lumomoney.com
Phone: 0333 123 4567