FAQ's
What about if I have got a bad credit rating
or CCJs (county court judgements) against me?
No problem, we can help almost everyone who has a bad credit
rating or adverse CCJs against them who requires a loan.
What can I use a loan for?
The flexible nature of our loans means they're useful in a range
of situations and for many different purchases. For example,
making home improvements like building a conservatory you've
always dreamed of, paying off an existing loan or for buying
a new car, your loan can be used for what ever reason you want
to use it for.
Can I borrow money to pay off existing loans?
YES - with our competitive interest rates you can save money
by consolidating your outstanding debts in to one simple monthly
payment.
How much can I borrow?
As long as you are a homeowner or mortgage payer you can borrow
from £5,000 to £50,000 with repayments over 5 to 25 years so
whatever your situation we can tailor a loan to suit your needs.
Could I really considerably cut my monthly
expenses?
Many of our new borrowers reduce their outgoings with some by
as much as50%. Contact us now to discover how much you could
be saving each month.
Will I have to pay any fees?
No. We don't charge application, set up or valuation fees, or
ask you to pay legal costs, even if you decide to extend your
loan at a later stage.
Can I apply if I am self-employed?
Yes if you are self-employed or starting a business we may be
able to help you - even if trading accounts are not available.
In fact we might even arrange loans without proof of earning.
Can I apply if I have mortgage arrears or County Court Judgements?
Certainly whilst other companies may decline your offer we have
access to a selection of Lenders who can assist those with County
Court Judgements and mortgage arrears.
What happens if I want to repay the whole loan early?
If you decide to settle the loan early, then the amount you
pay is calculated using a formula set out in the Consumer Credit
Act. The formula ensures you get a fair settlement figure and
that we, as the lender, are not penalised because you have chosen
to settle the loan early.
Can I borrow more later on?
In most cases we can add to your loan during the repayment period,
however you will need to contact our customer services department
to discuss your personal circumstances.
Can I extend the term (period) of my loan?
In most cases you can extend the term (period) of your loan,
which could reduce your monthly repayments. The maximum loan
term can not exceed 300 months.
What are the benefits of extending the loan?
If you extend the repayment term of your loan you could significantly
increase your disposable income each month. You will need to
contact our Customer Care Team to discuss your personal circumstances.
Can I increase my monthly repayment amount?
In most cases you can increase your monthly repayments and reduce
the term of your loan to a minimum of 120 months. You will need
to contact our Customer Care Team to discuss your personal circumstances.
What if I lose my job or can't work for some
reason?
We always recommend our customers to take out our Payment Protection
Plan to protect your regular payments, just in case you fall
ill, have accident or are suddenly made redundant from your
job. The five year Plan will take care of all your payments
if you become unable to work because of an unexpected illness,
accident or compulsory redundancy.
What should I do if I'm having difficulty
making repayments?
If you are having difficulty making your repayments we always
suggest to talk to us as soon as possible, so we can discuss
how we can help you work out a way to re-schedule payments or
even extend the term of the loan in order to reduce the monthly
payments.
What if I have been refused a loan?
We will try and help everyone who applies for a loan, however
we do not want to lend to anyone who cannot comfortably afford
the repayments, so we do have rigorous qualification criteria
that works in the interest of both parties.
If your loan application has been declined, your Customer Account
Manager will be able to offer you information on why we are
unable to help you at that time.
How long will it take to process my loan?
A secured loan can take a little while to process but in most
cases we are able pay you your money within a 14 day period
of receiving all the necessary documentation.
How do I apply for a loan and do I need to
provide any documents?- Your application can be completed over the phone and
we'll normally tell you if it's approved in principle. We
will then send your Loan Agreement out to you straight away
for processing.
- You will be required to provide some documentation, such
as proof of income and evidence of mortgage payments, but
we'll provide you with a simple check list so you know exactly
what to do.
Will our mortgage lender want to know about
our loan?
Probably yes, we will need to get permission from your mortgage
lender. However, with your authority, we can normally get this
on your behalf so that everything is kept as simple and straightforward
as possible for you. |
