Hot Topics

What if I want to pay my Loan off early ?
Before agreeing to your loan, read the terms and conditions of the agreement. Some loans allow you to pay your loan off early without any penalties, however, some don't.
Can I cancel my loan application if I decide not to go ahead for any reason?
If you decide you want to cancel your loan application once you have made it, you can do so within a certain period of time set by the loan company.
What happens if I can't meet the loan repayments?
If you are having problems repaying the loan, you will need to talk to your lender straight away to discuss the problem.
I am having trouble making repayments on my loans, should I get a debt consolidation loan?
If you have a number of debts and are having trouble managing them all, then a debt consolidation loan may be your only option.
How much can I reduce my monthly payments by with a debt consolidation loan?
It really depends on how much you owe. In some circumstances you may be able to reduce your total monthly repayments by as much as 75% - simply by consolidating your debts into one single payment.

Can I defer payment?

This depends entirely on the specific agreement you have made with the loan company - and you must read your terms and conditions carefully to see if you are entitled to defer your payments at any point.

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Most loan providers will allow you to defer at some point - often at the beginning of the agreement. It is very common to be offered a 2 or 3 months repayment holiday at the beginning of the loan, to give you some breathing space before starting your repayments. Some loans will offer up to 6 months holiday at the beginning of the term.

Getting a repayment holiday during the middle of the agreement is also possible, but this would have to be negotiated with the loan company. They will be more likely to agree to a repayment holiday if you have made your repayments regularly and on time for the entirety of the loan so far. Some loan companies will agree a payment holiday with you at the beginning of the term, which will be non negotiable and set for the entire term. Many people would choose to have their payment break in summer when they need their money for a holiday, or at Christmas time - just to make an expensive time a bit easier.

 

Risk Warning
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.
Think carefully before securing other debts to your home.