Secured, Personal and Consolidation Loans - Questions & Answers

How much can I borrow?

Our brokers can offer loans from as little as £5,000 up to £250,000

What can I use the money for?

Any legal purpose.

Just how soon could I have the money?

Our brokers aim to have all loans completed within 3 weeks although it can take longer, but with your co-operation in providing requested documents and sending back paperwork promptly, it can even be shorter!

What will the loan cost?

Well this will depend on the amount you wish to borrow, your preferred term and your circumstances. You can get an idea from our calculator but you will be issued with a full illustration showing you actual costs before proceeding. One thing, you can be assured our brokers are committed to offering you the lowest rate possible.

How much does it cost to apply for a loan?

Absolutely nothing to apply. Obviously to cover the time taken to process a loan and to pay for a valuation etc a charge will be applied to your loan but not until it has been fully discussed and agreed with you.

Will you need to contact my employer?

Wherever proof of income is required, normally 3 months payslips are sufficient. However, should it be necessary to contact employers you can be assured that they will only be asked only to confirm that you work for them, your position and salary.

Can I repay the loan before the end?

Yes you can. If you take a loan of less than £25,000 you will only suffer a penalty of one months interest. On loans greater than £25,000 there may be a larger penalty in the early years but this will be clearly documented in the literature provided.

What happens if I lose my job or I am unable to make my monthly repayments?

In the first instance you should contact the lender who will try and be flexible but you should remember that your home is at risk if you do not keep up repayments on a mortgage or loan secured on it. Therefore you may like to consider optional Payment Protection Insurance.

Can I come back and borrow more?

Yes you can providing you have conducted the repayments satisfactory and there is sufficient equity in your home to allow it. Should you want to borrow more before the end of the original secured loan, the first one will need to be repaid and a larger loan taken, but this can be for any term you want rather than just the remaining balance on the original loan. It will involve new fees and therefore you might wish to consider applying for a sufficient loan to cater for your foreseeable needs, at the outset..