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                                                                                             Loans & Remortgages FAQ


                                                                           1) How much can I borrow?

                                                                            Any amount from 10,000 - 100,000. Occasionally we even process loans for greater
                                                                           amounts. Our typical loans are between 10,000 - 75,000.   
 
                                                                                   
                                                                              

                                                                            2) What can I use my loan for?

                                                                            Absolutely 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?

                                                                           Quicker than you would imagine. We endeavour to have all loans completed within 14 days of application, 
                                                                           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 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. 
                                                                                                     
                                                                            6)
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. Your personal 
                                                                           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, nothing else. 

                                                                           8) Is my loan application confidential?

                                                                           YES 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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