We arrange online loan facilities for our customers and arrange their meetings with the suppliers of financial facilities and lenders. You can join us by submitting your application through the Iframe form; your application will allow us to match your requirements with lenders and finance facilitators on our panel. The process will begin with presenting your application to one or more than one lenders and facilitators in our panel; we will continue this process until one of them accepts your application or all of them reject it. If a facilitator or lender accepts your loan application, we will forward you to their page or website. And we can also provide you the contact information of the lender, incase if the lender does not own any website or they do not operate online.

It is very essential for our customers to understand that we will only arrange your meetings with the lender or facilitator if they have carefully observed your application and they are willing to provide you their service in getting loans. Also, our customers need to know that we may take our share from the fees of the lender or facilitator for introducing you and we may also pay a specific amount from that share to the owner of the website that is providing the iframe form to its users.

Our lenders can offer alternate terms or amounts for you, if we are unable to find your required term or amount. We don’t restrict our customers to accept the alternative terms or amount if it is not according to their expectation. We request you to read the terms and conditions carefully and then make a decision about your choice of the services. You can contact the lenders and facilitators if you have any questions or you are not sure about their services.

Difficulties in managing payments:

In case, you are having some difficulties in arrangement of repayments on the payday, contact your lender and inform him about the whole situation. Some credit charities like National Debtline, Step-change and citizens Advice bureau are offering free counseling services for the people; you can contact these organizations for advice and counseling.

What is best example of APR work process?

In case you do not make any repayment for a whole year and you have taken a loan of £1,000 on a debit card and with 12 percent APR, the total cost will reach £120, over the year, because the interest charges are dependent on the amount and consistency of your repayments.

APR is added on the debt each month. You can find your monthly interest price by dividing your APR with 12. The monthly interest rate of £1000 will be £10 per month, if APR is 12 percent with 1% month rate.
You should know that the monthly cost will reduce if you spread the repayments for a long period of time, but this will increase the overall interest cost.

Example of representative

For example, the total credit amount is £1200 and the payments will be made over the course of 18 months with £90.46 each month. The total repayable will be £1628.28 with £428.28 interest and 49.9% per years, interest rate. Here the representative value is 49.9%.

How can you define the representative APR?

You must have seen the phrase “APR representative” on the lender websites. This means that this rate is fixed for most customers, although, the rate is not same for all of the customers. The APR representative can also be used as a guide to learn about the best competitive lenders.

Lower APR of loans will reduce the total amount of repayments.

Commissions

Light financers play the role of brokers which means that they will introduce you to lenders and receive commission for that. You can get the information about commission by simply asking for it.

What if I want to withdraw from the agreement?

You can contact the lender through email or phone to withdraw from the agreement. But you need to make this decision within 14 days after signing the contract. In the case of withdrawing from the agreement, you will have to repay the credit and any accumulated interest to the lender, without any delay. Or in some cases, you will have to make the repayment within 30 days of officially withdrawing from the agreement.