Hot Topics

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.
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.
What happens if I am suddenly injured or taken ill?
To protect your loan repayments in case you are unable to work due to accident or illness, you will have to take out either personal loan or short-term income protection insurance.
What is not covered by personal loan protection insurance?
There are a number of situations that are normally exempt from personal loan protection.
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 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.