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Why would my Loan application be turned down?: If a lender decides that you are a bad risk for a loan, they will reject your application.
Can I borrow again in the future?: Your ability to borrow again in the future will depend largely on how well you managed your loans and other forms of credit in the past.
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.
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.
How much can I borrow with a debt consolidation loan?: The amount you can borrow on a debt consolidation loan is basically exactly the same as for a normal loan.

What does it mean if my payment protection insurance includes cash back?

Some lenders offer a cash back scheme on payment protection insurance – by refunding all or part of the insurance premium after a certain time has elapsed.

Lenders can afford to make the offer because most people will either forget to make a claim or will not qualify during the term of the loan, so they can afford to offer this reward to ‘good’ customers. There are a number of things you’ll need to look out for with the cash back promise – for a start, read the small print as there are always terms and conditions and exclusions.

Here are some helpful tips when it comes to cash back on payment protection insurance:

Your loan agreement will need to run for a minimum period before you can claim back the premium e.g. 10 years.
The cash back offer only normally applies to loans over a minimum amount e.g. £10,000.
Your agreement may still have to be running at the time of the cash back claim i.e. if you settle the loan earlier you will not qualify.

If your account has been in arrears or have had arrears of more than one month, you may not be eligible for cash back.

If you have made a claim under the insurance policy you will not qualify for the cash back return.

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.

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