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 is a Tenant Loan?
If you do not own your own property, you will not be able borrow money secured on your home. This means that any loan you take out will be a tenant loan – or an unsecured loan.
What is credit scoring?
Most of the major credit card companies use their own credit scoring systems – normally but not always in conjunction with a credit rating from a credit reference agency.
Should I get Personal Loan Payment Protection Insurance?
When you apply for a loan, you will be asked at the initial stages if you want personal loan insurance to be included in the agreement
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.

I have not been with my current employer very long, can I still apply for a loan?

To apply for an unsecured loan you will normally need to provide 3 consecutive pay slips to prove that you have a regular income.

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If you have only just started in a job the loan company may ask your permission to obtain a reference from your employer - this will be to confirm your position and annual salary. They will never contact your employer without your consent, and they will not supply them with any details of your loan application.

If you are applying for a secured loan - your income status will not be of such importance as you will be securing the loan with your property. However your income will form part of your credit scoring, and if you have a low salary you may find that your APR could be affected as you will not achieve a full low risk status.