Q: Why do you require payslips and bank statements?
A: We consider that the most important aspect of any loan application is the Repayment Capacity. Your payslips are a good indicator of your income, and your bank statements will provide information about your commitments and outgoings.

Q: How much of my shares do I need to pledge?
A: The amount of shares you pledge will be determined by the information we are provided with at the time of the application.

Q: How long does it take to get a decision?
A: Generally we are able to respond within 24 hours.

Q: When I change my car, can I top up my existing loan?
A: Each loan is granted on a “stand-alone” separate loan account. But where the original or existing loan was for car purchase, we are able to top-up the loan when you are changing vehicles. We ask that the total borrowed should be less than the value of the vehicle being purchased.

Q: Do I need to make repayments by Standing Order?
A: We always recommend paying us by Standing Order directly from your Bank account. This ensures that your account will not fall into arrears, and you maintain an excellent track record.

Q: How long do I need to be saving with you before I can apply for a loan?
A: Although there is no hard and fast rule on this, we like to see a savings pattern of around six months.

Q: How many years can I borrow over?
A: At the present time our maximum loan period is five years. A loan for a new car will be over 5 years, while a loan for a second hand car may be over 2 to 4 years. A home improvement loan term will be dictated by the size of the loan.
Holiday loans, and loans for Christmas, Car insurance, and other annual purposes will be repaid over 12 months.

Q: What details do you require for a car loan?
A: There is a car loan application which is completed at the time we meet you. This includes details such as car registration, Make & model, purchase price, selling price of your current car etc.

Q: What about if I have had arrears, or difficulty paying in the past?
A: We understand that your account may fall behind for a few weeks from time to time. As long as you bring this up to date within a short period of time, and maintain your repayments in line with your agreement, we are pleased to extend new loans to you.
If you have had arrears that warranted a period of correspondence, you may need to establish a fresh track record with us over a six month period.