Finance Application Explained

The first step when you apply for finance is to determine an accept or decline. This is the same for ALL types of finance. Based on the information you provide and by checking with credit reference agencies, lenders consider:
a) can you realistically afford to pay back the money you borrow from them ?
b) your past and current repayment history (on time, late, missed, defaults).

If You Are Accepted

If you are accepted we will contact you by phone to discuss the amount you wish to borrow, the number of years you want to pay it back over and the interest rates available to you. These interest rates are guaranteed to be the best available to you as they are based on your personal financial circumstances. The FCA regulate this.

If You Are Declined

Should you be declined, we will notify you by email. The most common reasons for being declined finance are as follows:

• Failing to provide 3 years address history
• Failing to provide 3 years employment history
• No Passport (high risk)
• Not on the electoral role
• A lot of maxed out finance obligations
• A lot of recent unpaid debt, defaults and CCJs
• A lot of recent late payments
• On a debt management plan