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Financial terms and phrases explained in simple terms for our customers.
A period of time agreed by the lender when you don’t have to make payments. Interest will continue to be added to your loan. Some secured loan companies offer a 3-6 month payment holiday at the start of the loan, which can help you get ‘back on your feet’ if you have been struggling with your repayments.
Insurance which pays a monthly benefit if you are unable to work due to accident or sickness, or if you lose your job. There are policies for self employed people too. These can be a valuable form of insurance, as your loan continues to be paid, protecting your credit record and your home. It’s very important to read the policy documents carefully to make sure it’s suitable and will pay out if you have to claim. Your Account Manager will be happy to explain all aspects of the policy.
Most lenders will need to see proof of income, to ensure you can afford the loan. For employed people this is usually in the form of payslips and/or an employers reference. For those who don’t receive payslips, bank statements can be used. For people who receive benefits, a letter from the agency paying the benefit is usually enough. Self employed people can provide certified accounts, Inland Revenue self assessment forms, or sometimes bank statements. Obviously, not everyone can prove all of their income, as they may receive bonuses or tips, or they may not have been self employed long enough to provide accounts. For people with no proof of income we can arrange loans on a self declaration basis.
Loan Amount : £3,000.00 £4,000.00 £5,000.00 £6,000.00 £7,000.00 £8,000.00 £9,000.00 £10,000.00 £11,000.00 £12,000.00 £13,000.00 £14,000.00 £15,000.00 £16,000.00 £17,000.00 £18,000.00 £19,000.00 £20,000.00 £21,000.00 £22,000.00 £23,000.00 £24,000.00 £25,000.00 £26,000.00 £27,000.00 £28,000.00 £29,000.00 £30,000.00 £31,000.00 £32,000.00 £33,000.00 £34,000.00 £35,000.00 £36,000.00 £37,000.00 £38,000.00 £39,000.00 £40,000.00 £41,000.00 £42,000.00 £43,000.00 £44,000.00 £45,000.00 £46,000.00 £47,000.00 £48,000.00 £49,000.00 £50,000.00 £51,000.00 £52,000.00 £53,000.00 £54,000.00 £55,000.00 £56,000.00 £57,000.00 £58,000.00 £59,000.00 £60,000.00 £61,000.00 £62,000.00 £63,000.00 £64,000.00 £65,000.00 £66,000.00 £67,000.00 £68,000.00 £69,000.00 £70,000.00 £71,000.00 £72,000.00 £73,000.00 £74,000.00 £75,000.00 £76,000.00 £77,000.00 £78,000.00 £79,000.00 £80,000.00 £81,000.00 £82,000.00 £83,000.00 £84,000.00 £85,000.00 £86,000.00 £87,000.00 £88,000.00 £89,000.00 £90,000.00 £91,000.00 £92,000.00 £93,000.00 £94,000.00 £95,000.00 £96,000.00 £97,000.00 £98,000.00 £99,000.00 £100,000.00 £101,000.00 £102,000.00 £103,000.00 £104,000.00 £105,000.00 £106,000.00 £107,000.00 £108,000.00 £109,000.00 £110,000.00 £111,000.00 £112,000.00 £113,000.00 £114,000.00 £115,000.00 £116,000.00 £117,000.00 £118,000.00 £119,000.00 £120,000.00 £121,000.00 £122,000.00 £123,000.00 £124,000.00 £125,000.00 £126,000.00 £127,000.00 £128,000.00 £129,000.00 £130,000.00 £131,000.00 £132,000.00 £133,000.00 £134,000.00 £135,000.00 £136,000.00 £137,000.00 £138,000.00 £139,000.00 £140,000.00 £141,000.00 £142,000.00 £143,000.00 £144,000.00 £145,000.00 £146,000.00 £147,000.00 £148,000.00 £149,000.00 £150,000.00 £151,000.00 £152,000.00 £153,000.00 £154,000.00 £155,000.00 £156,000.00 £157,000.00 £158,000.00 £159,000.00 £160,000.00 £161,000.00 £162,000.00 £163,000.00 £164,000.00 £165,000.00 £166,000.00 £167,000.00 £168,000.00 £169,000.00 £170,000.00 £171,000.00 £172,000.00 £173,000.00 £174,000.00 £175,000.00 £176,000.00 £177,000.00 £178,000.00 £179,000.00 £180,000.00 £181,000.00 £182,000.00 £183,000.00 £184,000.00 £185,000.00 £186,000.00 £187,000.00 £188,000.00 £189,000.00 £190,000.00 £191,000.00 £192,000.00 £193,000.00 £194,000.00 £195,000.00 £196,000.00 £197,000.00 £198,000.00 £199,000.00 £200,000.00 £201,000.00 £202,000.00 £203,000.00 £204,000.00 £205,000.00 £206,000.00 £207,000.00 £208,000.00 £209,000.00 £210,000.00 £211,000.00 £212,000.00 £213,000.00 £214,000.00 £215,000.00 £216,000.00 £217,000.00 £218,000.00 £219,000.00 £220,000.00 £221,000.00 £222,000.00 £223,000.00 £224,000.00 £225,000.00 £226,000.00 £227,000.00 £228,000.00 £229,000.00 £230,000.00 £231,000.00 £232,000.00 £233,000.00 £234,000.00 £235,000.00 £236,000.00 £237,000.00 £238,000.00 £239,000.00 £240,000.00 £241,000.00 £242,000.00 £243,000.00 £244,000.00 £245,000.00 £246,000.00 £247,000.00 £248,000.00 £249,000.00 £250,000.00
Repayment Period : 3 years 4 years 5 years 6 years 7 years 8 years 9 years 10 years 11 years 12 years 13 years 14 years 15 years 16 years 17 years 18 years 19 years 20 years 21 years 22 years 23 years 24 years 25 years 26 years 27 years 28 years 29 years 30 years
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