We'll give a straight answer to your questions
Applying for a loan
- How much can I borrow?
- Over what period of time can I spread my loan?
- Can you give me an example of what my repayments might be?
- What can I use my loan for?
- Does it matter if I have CCJs, mortgage arrears or poor credit?
- What APR will I be charged?
- Do I have to use my property for a loan?
- Do I have to pay for a valuation on my house, or legal fees to the solicitors?
- Will our mortgage lender need to know about my loan?
- Are there fees for taking out the loan as well as the interest?
- Will you be contacting my employer?
- How do I apply for a loan?
- Do I need to provide any documents?
- Am I under any obligation by filling in the application form?
- How long will it take to process my loan?
- Might I be refused a loan?
How much can I borrow?
You can borrow any amount from £1,500 to £20,000* on a secured loan. Or any amount from £750 and £8,500 for a personal loan. The best way to get a personalised quotation is to contact our friendly, helpful loan advisers now, or ask us to call you back at a time to suit you. For more details on car loans visit our sister company Welcome Car Finance.
topOver what period of time can I spread my loan?
Again, this depends on the type of loan but you could get a secured loan from 3 years up to 15 years. Spreading your repayments over a longer period has the advantage of making your monthly repayments more affordable. However it does mean that you would pay more over the life of your loan, so you might opt for a shorter repayment period instead.
topCan you give me an example of what my repayments might be?
Sure, just call us now or we'll call you back with a personalised quotation.
topWhat can I use my loan for?
Anything you like. How you spend your loan is your business, whether it’s for consolidating your debts, building a conservatory or taking a holiday.
topDoes it matter if I have CCJs, mortgage arrears or poor credit?
No, we look to help everyone, whatever your circumstances.
topWhat APR will I be charged?
That depends on what type of loan you opt for. On a secured loan we have a typical 29.5% APR. On a personal loan we have typical 64.1% APR. For details on the APR on our car loans visit Welcome Car Finance. These are the typical rates that at least 66% of customers like you receive. However you could pay a little more or a little less, depending on your personal circumstances.
topDo I have to use my property for a loan?
No, you can take out an unsecured personal loan instead, however secured loans do allow you to borrow more, spread your repayments over a longer period and pay a lower APR. This all means that your monthly repayments could be lower with a secured loan. On the other hand, it may cost you more over the entire length of the loan.
topDo I have to pay for a valuation on my house, or legal fees to the solicitors?
No.
topWill our mortgage lender need to know about my loan?
No.
topAre there fees for taking out the loan as well as the interest?
An administration fee may apply depending on the type of loan. Call for details, or we'll call you back.
topWill you be contacting my employer?
This may be necessary to confirm your employment status and salary details.
topHow do I apply for a loan?
Simply complete our application form and we'll call you back or call us now.
topDo I need to provide any documents?
No, not immediately. We can give you a decision in principle without having to see any paperwork. We'll only need to see some documentation before the loan is completed.
topAm I under any obligation by filling in the application form?
None whatsoever.
topHow long will it take to process my loan?
A cheque could be with you as quickly as 5 days for a personal loan and 10-15 days for a secured loan, after your decision in principle.
topMight I be refused a loan?
At Welcome Finance we try not to turn anyone away. Whoever you are, whatever your circumstances, we try to find the right loan for you. The only people we automatically refuse are those who make fraudulent applications.
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