| What can I use a loan for? The flexible nature of 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 - you can normally 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 3 to 25 years so whatever your situation we can help tailor a loan to suit your needs. Will I have to pay any fees? No. We don't charge application, set up or valuation fees. How do I apply for a loan and do I need to provide any documents?
What about if I have got a bad credit rating, mortgage arrears 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. We have access to a selection of Lenders who can assist those with County Court Judgements and mortgage arrears 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. Can I borrow more later on? In most cases you can add to your loan during the repayment period, however you will need to contact the lenders 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 the lenders 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 the lenders 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 the lender as soon as possible, so you can discuss how working out a way to re-schedule payments or even extend the term of the loan in order to reduce the monthly payments. How long will it take to process my loan? A secured loan can take a little while to process but in most cases you should have your money within a 14 day period of receiving all the necessary documentation. 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. |
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