Hot Topics

What is a Home improvement Loan?
Many people choose to take out home improvement loans so they can give their house a new look before selling.
What can I do if I think information held by a credit reference agency on me is incorrect?
If you have been turned down for a loan and you cannot see any reason why, then you can contact the credit reference agency to see your personal credit report.
How do I contact the Credit Reference Agencies?
You can request your credit report online, by phone or online. It costs £2 for a copy of your statutory credit report. Here are the details for the three main credit reference agencies.
I’m self-employed, am I still eligible?
Self-employed loans used to be difficult to find and expensive. But today, now that more and more people are working for themselves, self-employed loans are widely available and, as interest rates have fallen to their lowest in years, more affordable.
Will a debt consolidation loan solve all my problems?
A debt consolidation loan will solve your problems if you can meet the repayments. However you need to analyse how the money troubles began – and fix the root cause.

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.