Hot Topics

How quickly can I get the money?
How quickly you get your loan depends on who you buy it from.
What if I already have a mortgage or loan secured on my home?
It is possible (indeed common) to have more than one mortgage or loan on your property, as long as there is sufficient free equity in the property to secure the loan.
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.
What if I die before my loan is paid off?
If you die before your loan has been fully repaid, the loan will still need to be repaid by your estate. This may mean that your family will have to cover the cost of the loan for you.
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.

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.