Hot Topics

What is a Car Loan?
There are three different types of car loan. We have covered them here to make you aware of the options open to you when seeking a car loan:
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.
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.
I am having trouble making repayments on my loans, should I get a debt consolidation loan?
If you have a number of debts and are having trouble managing them all, then a debt consolidation loan may be your only option.
How much can I reduce my monthly payments by with a debt consolidation loan?
It really depends on how much you owe. In some circumstances you may be able to reduce your total monthly repayments by as much as 75% - simply by consolidating your debts into one single payment.

What if I want to move house during the term of my loan?

Moving house is only an issue if you have a secured loan – as you have borrowed against the value of your house.

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How your loan company deals with this varies greatly. Some allow you to transfer your loan to your new property, using your new home as security. However to do this there must be sufficient equity available in the new property, so you will have to be moving to a property of equal or higher value. This also depends on how much of your loan is left. If you are near the beginning of the loan term then the issue is more complex, whereas if you only have £5,000 left outstanding then there will be no trouble securing sufficient equity on your new property.

Alternatively you could request a settlement figure from the lender and pay the loan off in full. You could finance this by arranging a new loan secured to your new property.

In either case you will need to speak to your loan company over the phone or in person to see what options are available to you.


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.