HOW MUCH CAN I BORROW AND FOR HOW LONG?
You can borrow any amount from £3,000 to £150,000, depending on how much you can afford to repay each month. The loan can be over any time period from three to twenty-five years.
I HAVE LITTLE OR NO EQUITY IN MY PROPERTY. CAN I STILL APPLY FOR A LOAN?
Yes you can. We have plans available where you can borrow up to 25% more than the property value, less your existing mortgage balance.
ARE THERE ANY RESTRICTIONS FOR WHAT THE LOAN CAN BE USED FOR?
No, you can use the money from your loan for virtually any purpose. The choice is yours. The majority of our customers clear some or all of their existing credit so as to reduce their monthly outgoings to just one, more manageable, monthly payment. Quite often they also raise additional cash, to buy a new car or carry out some home improvements - and remember, with cash in hand, you can often negotiate attractive deals when buying.
WHAT INTEREST RATE WILL I BE CHARGED?
It is difficult to say what interest rate your loan will attract, as all loans are assessed on personal circumstances. However, our typical APR is 9.5%, with many customers paying even less.
WILL IT COST ME ANYTHING TO APPLY FOR A LOAN?
No, it costs absolutely nothing to apply for a loan through us.
WILL YOU CONTACT MY EMPLOYER?
NO. We would never contact them without your consent. If you have any 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.
I'M WORRIED ABOUT BECOMING ILL OR BEING MADE REDUNDANT?
No need to. In the majority of cases, our customers take advantage of a Payment Protection plan, which we can offer you too. These valuable policies usually cover you should sickness, accident or redundancy mean you're not able to continue repayments.
CAN I BORROW AGAIN IN THE FUTURE?
Of course. As long as you've maintained your regular payments, you could borrow more - even if you haven't completed your original loan. Just give us a call and we'll gladly provide a quotation for a further advance.
CAN I FINISH THE LOAN EARLY?
No problem. If you can afford to repay the loan before the anticipated completion date, it's to your advantage. The lender will calculate the outstanding balance and you'll benefit from a reduced interest charge.
I'M SELF-EMPLOYED. AM I STILL ELIGIBLE?
Certainly. And don't worry if you can't provide accounts, or proof of income - many of our lenders offer self-certification options.
WHAT IF I MOVE HOUSE?
Loans which are secured on the property are simply paid off from the proceeds of the sale. But sometimes we can transfer the loan to your new property. Just let us know if you're about to move and we'll advise you on your best option.
I'VE HAD FINANCIAL PROBLEMS IN THE PAST. CAN YOU STILL HELP?
Our financial expertise means we can even help if you've had problems keeping up payments in the past. We can arrange loans even if you have poor credit rating, have arrears or a county court judgement (CCJ) against you. In certain cases, but not always, an alternative interest rate may be offered. But it costs nothing to find out what we can offer you.
Useful Links
Help with your application?
Hometrack
How much is your home worth - input your details here, and get an answer.
Experian
Your Credit questions answered, a comprehensive section on why people get refused credit, scoring systems and how to obtain a copy of your credit record.
Equifax
The other major credit reference agency. Contact details and instructions on how to obtain a copy of your record.
The Office of Fair Trading
Advice from the Government about consumer issues, dealing with debt and your rights when applying for credit.
The Financial Ombudsman Service
Think you have been mistreated by your existing lender? Can't get any sense from them? You may find this a useful service.
Citizens Advice Bureau
There's one close to you for advice on debt problems and just about anything else you might care to ask!
