Frequently asked questions
Our customer service team will explain everything to you, but if you want to check
the meaning of a financial term, it should be listed below.
If you have any further questions, either call us free on 0800 083 9640.
Or we can call you back
- HOW MUCH CAN I BORROW AND FOR HOW LONG?
- I HAVE LITTLE OR NO EQUITY IN MY PROPERTY. CAN I STILL APPLY FOR A
LOAN?
- ARE THERE ANY RESTRICTIONS ON WHAT THE LOAN CAN BE USED FOR?
- HOW MUCH WILL MY LOAN COST?
- WHAT INTEREST RATE WILL I BE CHARGED FOR MY LOAN?
- WHAT INTEREST RATE WILL I BE CHARGED FOR MY MORTGAGE?
- WILL MY ENQUIRY BE TREATED IN CONFIDENCE?
- WILL YOU CONTACT MY EMPLOYER?
- I'VE HAD FINANCIAL PROBLEMS IN THE PAST. CAN YOU STILL HELP?
- I'M WORRIED ABOUT MISSING PAYMENTS DUE TO BECOMING ILL OR BEING MADE
REDUNDANT?
- CAN I BORROW AGAIN IN THE FUTURE?
- CAN I FINISH THE LOAN EARLY?
- I'M SELF-EMPLOYED. AM I STILL ELIGIBLE?
- WHAT IF I MOVE HOUSE?
- I HAVE NOT BEEN WITH MY CURRENT EMPLOYER VERY LONG. AM I STILL ELIGIBLE?
- I HAVE NOT OWNED MY PROPERTY VERY LONG, AM I STILL ELIGIBLE?
Think carefully before securing other debts against your home. Your home may be
repossessed if you do not keep up repayments on your mortgage.
HOW MUCH CAN I BORROW AND FOR HOW LONG?
You can borrow any amount from £5,000 to £125,000, depending on how
much you can afford to repay each month. The loan can be over any time period from
five 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 100% of your property
value, less your existing mortgage balance.
ARE THERE ANY RESTRICTIONS ON 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.
(See section on Debt Consolidation). 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. Think carefully before
securing other debts against your home. Your home may be repossessed if you do not
keep up repayments on your mortgage.
HOW MUCH WILL MY LOAN COST?
That depends on how much you wish to borrow, and the time period that you choose
to repay it over. For an indication of repayment costs, see the loan repayment tables
WHAT INTEREST RATE WILL I BE CHARGED FOR MY LOAN?
It is difficult to say what interest rate your loan will attract, as all loans are
assessed on personal circumstances.
WHAT INTEREST RATE WILL I BE CHARGED FOR MY MORTGAGE?
It is difficult to say what interest rate your mortgage will attract, as all mortgages
are assessed on personal circumstances & your choice of products & repayment
methods.
WILL MY ENQUIRY BE TREATED IN CONFIDENCE?
Absolutely. We treat every enquiry in the strictest confidence. We pride ourselves
in our confidentiality. We are members of the Finance Industry Standards Association
(FISA) and also registered under the Data Protection Act (DPA). We adhere to the
confidentiality guidelines set out by FISA, as well as the letter of the law from
the Data Protection Register and The Consumer Credit Act (CCA).
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 Enquiry.
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.
I'M WORRIED ABOUT MISSING PAYMENTS DUE TO BECOMING ILL OR BEING MADE REDUNDANT?
Insurance Protection may be available on some plans to offer peace of mind to borrowers.
Subject to status - ask for details.
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. The lender will calculate the outstanding balance in line with the requirements
of the Consumer Credit Act 1974. Or where it falls outside of the Act, this could
be subject to any early repayment charge by the lender.
I'M SELF-EMPLOYED. AM I STILL ELIGIBLE?
Most certainly. Generally, we'd like to see two years' accounts, but even without
trading accounts we can often arrange loans.
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 let you know your options.
I HAVE NOT BEEN WITH MY CURRENT EMPLOYER VERY LONG. AM I STILL ELIGIBLE?
You are, generally we like to see 3 consecutive pay slips, but even without these
we can often arrange loans
I HAVE NOT OWNED MY PROPERTY VERY LONG, AM I STILL ELIGIBLE?
No problem. We are able to help with a private rent reference or even without.
Promise can put you back in control