Premium finance redaction is the removal of personal data from an instalment credit agreement. Paying a premium monthly is usually regulated credit: Consumer Credit Act 1974 s.60 and s.61 set the form and content a regulated agreement must have, and ss.77-79 give the borrower information rights. FCA CONC 4 governs pre-contract disclosure and CONC 5.2A the creditworthiness assessment. anonym.plus marks each item on your device.
When this applies
The agreement lists the borrower, the bank account, and the instalment schedule. A lender or auditor needs the rate, the APR, and the schedule. You trim the identifying fields before the paperwork moves on, while the executed original stays as the regulated agreement.
How anonym.plus handles it
- Open the agreement in anonym.plus on your device.
- Local OCR reads a scanned credit agreement.
- The tool flags names, accounts, and NI numbers.
- Keep the rate and schedule intact.
- Swap or black out the confirmed entries.
- Save the clean copy locally.
What you need to provide
- The credit agreement (PDF, DOCX, or scan).
- An operator (Replace keeps the schedule readable).
- Optional allow-list for rate and contract numbers.
PII & financial identifiers detected
| Category | anonym.plus entity type | Example |
|---|---|---|
| Names | PERSON | borrower Quinn → [BORROWER] |
| Financial | UK_BANK_NUMBER | direct debit acct 5521 → [ACCOUNT] |
| Identifiers | UK_NINO | QN 33 07 12 C → [NINO] |
| Financial | MONEY | financed £9,400 → [AMOUNT] |
| Contact | PHONE_NUMBER | +44 151 496 0221 → [PHONE] |
| Dates | DATE_TIME | DOB 1977 → [DOB] |
Compliance achieved
- Leaves the prescribed terms readable — a regulated agreement must be properly executed under Consumer Credit Act 1974 s.60 and s.61, and a redacted copy never replaces the executed original.
- Keeps intact the figures a borrower may request under CCA 1974 ss.77-79.
- Preserves the pre-contract disclosure required by FCA CONC 4 and the affordability evidence behind CONC 5.2A.
- Supports the fair-value assessment FCA PROD 4 expects on a premium finance product.
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Limitations & cautions
A direct debit account on a faint scan can confuse OCR. Verify the flags on image pages so no full number remains. Redaction also does not cure a defect in how the agreement was executed under CCA 1974 s.61.
Frequently asked questions
Is paying a premium monthly regulated credit?
Usually yes, where the instalments carry a charge and the borrower is an individual. That brings in the Consumer Credit Act 1974 and FCA CONC, including the pre-contract disclosure in CONC 4.
Can I keep the APR and schedule visible?
Yes. Allow-list the rate, the APR, and the instalment table. Those are prescribed terms the agreement is judged on, not personal data.
Does the tool catch the direct debit account?
Yes. The bank account is flagged along with the name and the NI number so you can shield each one.