Cheap Personal Loan Process
Loans which are secured to your property are regulated when under �25,500 and are subject to the laws of the consumer credit act in the U.K. (There are some differences with Tenant loans) When you apply for a loan through our site, we will be able to guide you through the procedures process to keep your mind at ease. The general process is shown below.
1)We call you by phone at a convenient time and help you decide if the loan is the right way to go for you. Once this is confirmed, Advance Docs are issued to you which include an Application Form, DDM, a Copy of the Credit Agreement and sundry other docs dependent on case.
2)8 days later, taking into account the mandatory cooling period, signable documents are issued � these include the Legal Charge ( enabling us to place our charge on the property ) and the master Credit Agreement which the customer has to sign.
3) Once we have received a signed application we are able to order a Mortgage Reference ( which is required in almost all cases ) from the mortgage lender, order Legal Searched on the property etc. Once the cooling off period is over, we can arrange for a Valuation of the property ( required in most cases )
4) Other docs we require from the customer usually include Buildings Insurance, Payslips/Accounts/Self Dec Form, Proof Of Residence if not on voters role, Mortgage Statement
5) Once all docs are received and provided the case still fits the criteria, the deal will be submitted to the lender who, if they like everything, will issue the cheque in 1-2 days. The cheque will go direct to the customer, made payable to the customer
UK residents only
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US residents only
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Cheap loans quote.co.uk offers written quotations on request. We are licensed credit brokers. Secured loans: your property is at risk if you do not keep up payments on a mortgage or other loans secured on it. Typical amounts repayable example: Example £15,000 over 120 months @ £209.42 per month = �25,130.40 Total amount repayable (11.9% APR Variable) |
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