What can I use my loan for?
The majority of our customers consolidate some or all of their existing credit in order to reduce their monthly outgoings.
They also tend to raise additional cash to spend as they wish, but others for example may make home improvements, buy a new car, or even take a well deserved holiday. It's your money, so how you spend it is up to you.
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How quickly can I get my loan?
Quicker than you would imagine.
We endeavour to have all loans completed within 16 days of application, although of course just as it can occasionally take longer, it can also be quicker. The sooner you return any documents we need, to us, the sooner you will have your loan. You can help us make it happen.
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What will my loan cost me?
That depends of course on how much you wish to borrow and what period you wish to repay it over.
We will tailor your loan with you to ensure your repayments suit your budget. We do not encourage people to borrow more than they can comfortably afford to repay.
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What does it cost to apply?
Absolutely nothing.
Applying is FREE, regardless of whether you call us or apply on-line.
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How do I apply?
Simply click Here.
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Why should I cover my payments with repayment protection cover?
Quite simply for peace of mind.
In the event you were unable to make the repayments due to redundancy, sickness, or even an accident at work, your repayments (subject to certain exclusions and terms) will be made for you directly by the insurer. The majority of our customers opt for this valuable cover.
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Will you charge a fee?
Upon completion of your loan we may apply a fee of upto a maximum 10%.
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Will you contact my employer?
We would never contact them without your consent.
If you have pay slips and / or a P60, this will certainly not be necessary. If you cannot produce pay slips, we may ask your permission to obtain a brief reference from your employer, purely asking them to confirm your position, length in employment and your annual salary. We will not supply them with any details of your loan application and they will not be made aware you are applying for finance.
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Can I repay my loan early?
YES you can.
If you do so, you will be charged an early settlement penalty, and you will benefit from a rebate of interest. This means you will not have to pay all the interest that would have been due if the loan was to run for the full term, so ultimately the total cost of your loan will be less.
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Can I pay more than my agreed repayment per month?
YES you can.
Many of our loans allow you to make payments over and above your standard monthly repayment, whether it be at the same time as your normal monthly repayment or at any other point in the month. The amounts you pay over and above will reduce the outstanding balance of your loan accordingly. This means you will be paying the same monthly interest rate, but on a smaller loan balance, therefore you will be able to clear your loan in full sooner than the term it was originally scheduled over. Each lender have their own rules in relation to this question. Further information can be obtained if requested.
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Can I get a loan if I have arrears on my mortgage?
YES you can. Having arrears on your mortgage does not prevent you from getting a loan.
If you have arrears when your loan completes, all the arrears will be paid directly by the lender from the proceeds of your loan. So when applying, if you want to receive a certain amount of cash in your hand, you must add on the amount you need to clear your arrears.
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Can I get a loan if I have a bad credit rating?
YES you can. Having a bad credit rating does not prevent you from getting a loan.
You may be considering consolidating some or all of the credit you have (if any) to reduce your monthly credit bills with a single more affordable loan. The majority of our customers do precisely that.
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Can I get a loan if I have CCJ's?
YES you can. Having County Court Judgements does not prevent you from getting a loan.
You may also wish to consider clearing some or all of your County Court Judgements with part or all of your loan. The choice is yours. It is not a condition of our loans that you have to clear any County Court Judgements either before or after you take the loan out.
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Can I fix the interest rate?
YES you can. Many of our loans offer a five year fixed rate period at the start of the loan term.
We will tell you whether you can take a fixed rate on certain plans, then you choose whether it suits your needs. The choice is entirely yours.
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Can I take a break from repayments?
YES you can. Many of our loans allow you a 5 month repayment holiday at the start of the loan term.
This means that from the day your loan completes, it will be at least 5 months until your first repayment is due. This is particularly popular around Christmas, where consumer spending increases dramatically.
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What happens if I am unable to make my monthly repayments?
First and foremost you should contact your lender and notify them of your situation. They would much prefer to know beforehand. If you have Repayment Protection Cover, you should assess your circumstances and check you are covered.
These valuable policies usually cover accident, sickness and unemployment. Your lender will explain the terms of your cover to you, as well as doing everything possible to bring your account back on track.
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Is my application confidential?
YES it is. We take pride in our confidentiality.
Our partners are members of the Finance Industry Standards Association (FISA) and we are also registered under the Data Protection Act (DPA). We adhere strictly to the confidentiality guidelines set out by FISA, as well as the letter of the law from the Data Protection Register.
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Can I come back and borrow more in the future?
YES you can. Assuming the conduct of your loan account is to your lender's satisfaction, you may apply to take a second loan out with them; what we call a Further Advance.
Many of our loan plans allow you to apply immediately for a further advance, the others may request that your original loan account be running for three months or more before they will consider your application for more money.
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