Finance Application Explained

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

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.

If You Are Declined

Should you be declined, we will notify you. The most common reasons for been declined finance are:

• Failing to provide 3 years address history
• Failing to provide 3 years employment history
• No Passport or other forms of ID
• Not on the electoral role
• Current finance obligations
• A history or unpaid debt, defaults and CCJs
• A history of late payments
• Currently on a debt management plan