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1) How much can I borrow?
Any amount from £10,000 - £100,000. Occasionally we even process loans for
amounts. Our typical loans are between £10,000 - £75,000.
2) What can I use my loan for?
anything. The choice is yours. The majority of our customers clear 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. Debt consolidation may increase total costs in
the long term.
3) How quickly can I get my loan?
than you would imagine. We endeavour to have all loans completed within 14 days
although of course just as it can occasionally take longer, it can also be quicker. The quicker you return any
documents required to us, the quicker you will have your loan.
4) How much will it cost me to apply for my loan?
Absolutely nothing. Applying is FREE.
5) Will you be contacting my employer?
If you have pay slips and / or a P60, this will certainly not be
necessary. If you can not produce pay slips, we
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.
6) What will my loan cost me?
depends of course on how much you wish to borrow and what period you wish to
repay it over. Your
loan officer 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.
7) Are there any extra costs?
No, with our loan, the figure on your credit agreement is the amount you pay,
8) Is my loan application confidential?
it is. We pride ourselves in our confidentiality.
9) Can I repay the loan before the stated period?
YES you could. If you do so, you will benefit from a rebate of interest in
accordance with the Consumer Credit
(Rebate on Early Settlement) Regulations 1983. This means you will not have to pay all the interest that would
have been due to the end of your original loan term, so ultimately the total cost of your loan will be less. If you
repay early there will be an early repayment charge (usually 6 months interest).
10) Can I repay more than the agreed monthly repayment?
YES usually you can. Many of our loans allow you to make payments over and above
your standard 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, 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. If you repay early there will be an early repayment charge
(usually 6 months).
11) Can I come back and borrow more in the future?
YES, usually 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. 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.
12) Can I get a loan if I have a bad credit rating?
YES you could. Having a bad credit rating does not prevent you from getting a
loan. You may be considering clearing
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. Debt consolidation may increase total costs in the long term.
13) Can I get a loan if I have arrears on my mortgage?
YES you could. 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. Debt consolidation may increase total costs in the long term.
14) Can I get a loan if I do have or have had County Court Judgements?
YES you could. Having CCJs does not prevent you from getting a loan. You may also
wish to consider clearing
some or all of your CCJs 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 CCJs either before or after you take the loan out. Debt consolidation may increase total
costs in the long term.
15) 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. 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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