Frequently Asked Debt Consolidation Loan Questions

1. How long will my loan take to process?
Answer: Typically anywhere between 2 and 4 weeks, provided the initial paperwork is returned quickly.
 
2. Will I be charged a fee?
Answer: Usually you will be charged a broker fee and some lenders also charge their own arrangement fees. All fees are usually added to the net loan facility and there are no upfront charges.
 
3. Are you an independent company?
Answer: Yes, we are a small but growing, family run business.

4. Can I have a representative visit my home with the paperwork?  
Answer: Yes of course, we offer a UK wide free courier service for document collection. No advice will be given during the visit.
 
5. I don’t have a mortgage, will I still qualify?  
Answer: Unfortunately not, our secured loans are all second charge mortgages which require a first mortgage charge over the property.
 
6. Can I settle my loan early?  
Answer: Yes of course. You will usually have to pay one month penalty interest with one month notice given.

7. Do you do debt consolidation loans?
Answer: Yes, this is a very common reason for taking out a secured loan. Mainly because you can consolidate your credit over a much longer period than with an unsecured loan and you can borrow a much higher amount – up to £200,000 on standard plans. This can often reduce monthly payments substantially.

8. What is the maximum loan I could get?
Answer: Up to £200,000 on standard plans. Our loans are all subject to status, affordability and having sufficient equity in your property.

9. Can I get a loan if I have a poor credit rating and been turned down elsewhere?
Answer: Yes, quite possibly, but this will ultimately be determined by how much equity you have in your property.

10. Are you a broker or a lender?
Answer: We are a national loan broker, based in Scotland but dealing all over the UK. We will compare loans for you and select the product that best suits your needs and criteria.



2/17 King James VI Business Centre, Friarton Road, Perth, PH2 8DY
Tel: 01738 583008 | Fax: 01738 500402


The Lending Channel is authorised and regulated by the Financial Conduct Authority. Company number SC334818
Data Protection Act: Z2030159

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT
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