1.
How much can I borrow?
2.
How long does it take to get a decision?
3.
From approval, how long does it take to get the cash?
4
. What can I use the loan for?
5
. What if I am ill or if I'm made redundant?
6
. What if I die before my loan is paid
off?
7
. Can I repay my loan early?
8
. Can I cancel the loan at anytime?
9
. Are there any upfront fees?
10
. How confidential is my application and my loan?
11
. What types of finance are available?
12
. Can you help me if I want to remortgage my property?
13
. What if I have a question that hasn't been answered
above?
Q. How much can I borrow?
A. You can borrow any amount from
£5,000 to £100,000 and repay it over any
period from 5 to 25 years - just select the monthly
payment from our chart that suits you best. There
are no hidden costs or charges.
Q. How long does it
take to get a decision?
A. We will give you an immediate
'in principle' decision and send out your loan offer
that same day. You'll be under no obligation, and
no sales people will call at your home.
Q. From approval, how
long does it take to get the cash?
A. This depends on what type of loan
you take out. For secured loans you can usually expect
to receive your cheque within 14 days, however, if
your loan requirement is urgent and over £25,000,
you can expect to receive a cheque even sooner.
Q. What can I use the
loan for?
A. You can use your loan for any
reasonable purpose. Whether it's to make a large purchase
like a car or boat, to take a fantastic holiday, or
to pay off any existing debts, we can help. Your loan
is for you to spend how you see fit.
Q. What if I am ill
or if I'm made redundant?
A. You can insure your payments so
that you won't have to worry if you lose your job
or are off work through accident or sickness. We strongly
recommend that you take out this payment protection
because your home is at risk if you do not keep up
the repayments on a mortgage or any loan secured on
it. Our payment protection gives you and your family
extra comfort and peace of mind.
Q. What if I die before
my loan is paid off?
A. The loan will still need to be
repaid by your estate, but you could choose to insure
yourself and your partner so that the loan is immediately
paid off were either of you to die during the period
of the loan. This life insurance is highly recommended.
Q. Can I repay my loan
early?
A. Yes, you can repay the loan back
at any time. The method of calculating the amount
of money required on early redemption will be stated
in the loan agreement. We will also send you a copy
of the FISA borrowers information guide which will
explain the procedure in detail.
Q. Can I cancel the
loan at anytime?
A. You are under no obligation whatsoever.
You can cancel your loan at any time up to completion
without incurring any costs or penalties, unless you
have already instructed us to carry out a mortgage
valuation and you are taking out a mortgage. Otherwise
there are no costs or penalties.
Q. Are there any upfront
fees?
A. There are no upfront fees whatsoever.
On some occasions you may not qualify for one of our
mainstream products and, if this is the case, we may
add a fee to your loan to cover the extra processing
costs involved, however, this will be fully disclosed
on your loan documentation. It will only be payable
if and when your loan completes. You will not have
to find the cash, as the fee will be deducted from
the loan.
Q. How confidential
is my application and my loan?
A. 100% confidential. We treat all
applications in the strictest confidence and at no
time will we contact your employer or bank except
with your permission. The selected loan provider will
need to contact your bank to arrange the direct debit
for your repayments. For further information, please
see our privacy & legal page.
Q. What types of finance
are available?
A. With The UK Loan Company we give
you the choice. You can take out a loan that's secured
against your existing property (a secured loan) or
one that is not (an unsecured loan). You can also
choose whether you want to have a fixed rate of interest
(the amount you pay back every month stays the same
for the initial period of the loan) or a loan with
a variable rate of interest (your monthly repayments
will change, moving up or down in line with general
interest rates).
Q. Can you help me
if I want to remortgage my property?
A. Yes. It's very straightforward
and we'll take care of all the administration for
you. With a remortgage you repay your existing mortgage
and replace it with a new mortgage for a larger amount
which is also secured on your property. Remortgages
tend to be at lower interest rates than secured or
unsecured loans.
Q. What if I have a
question that hasn't been answered above?
A. Ask us! Email us at contact@ukloancompany.co.uk
We'll be happy to answer your questions and help in
any way we can.
