Posted by | Category Blog | Date 22 December 2016

Why didn’t I get the interest rate advertised for my loan?

Every year, borrowers are left scratching their heads as to why they may not have received the rate advertised. After all, if I have a strong credit score, good employment and homeowner status, surely this should give me the lowest rates? For many consumers it comes as a real surprise when they receive their 'SECCI' or loan agreement and see that it is not the rate on the website or

Read More
Posted by | Category Blog | Date 16 December 2016

MSE Creates Soft Search Loan Application

This week on the Martin Lewis Money Show, the Money Saving Expert himself spoke about getting loans during the Christmas period. Specifically, he mentioned the risks of making an application and the lender performing a 'hard search' on your credit report. A hard search footprint is a mark made by the lender and sits on your credit file for at least 12 months and is a way of saying that

Read More
Posted by | Category useful information | Date 12 December 2016

Glossary

Our glossary explains all the key terms surrounding guarantor loan products including costs, fees, applications, payments and collections. For any further questions, please read our blog or feel free to email us. Affordability Check: During the approval process, the lender will review your affordability which checks whether or not you can 'afford' the loan. This includes checking your salary and expenses via payslips and bank statements and using this the lender

Read More
Posted by | Category Blog | Date 07 December 2016

FCA working on the enforcement of guarantor repayments

In October 2016, the Financial Conduct Authority opened a consultation dealing with how guarantor lenders can reinforce repayments for guarantor loans. Specifically, this deals with the person that guarantees the loan, usually a family member, spouse or close friend who the borrower knows, trusts and agrees contractually to repay the loan if the main borrower defaults. The issue is whether guarantors can be treated in the same way as borrowers

Read More