Hot Topics

What interest rate will I pay and is it negotiable?
Interest rates vary from lender to lender, and it all depends on how much you borrow, and over what period of time.
What if my loan application is not accepted?
Sometimes a lender may not wish to give you a loan. This may be for a number of reasons, however the lender is not obliged to tell you exactly why the loan been refused.
Can I have a fixed rate loan?
It is entirely up to you if you want a fixed rate or a variable rate loan – however there are some limits to this.
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 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.