As a broker, we are unable to ascertain exactly how many customers take out a loan on a particular date, or the lender’s rate of interest particular to that customer, therefore our calculation is based on the mean APR’s of our panel of lenders.
When consolidating debt, your overall monthly payment is likely to decrease because future payments are spread out over a new and, perhaps extended, loan term. While this can be advantageous from a monthly budgeting standpoint, it means that you could pay more over the life of the loan, even with a lower interest rate.
If your loan is approved, funds may be cleared and in your account within the hour if you apply before 3pm, Monday to Friday. If you apply after 3pm,
then this will be the next working day. Lenders the aim to transfer the cash within 24 hours. Clearance of the funds is dependent on whether your bank accepts faster payments.
We do not charge a fee for our loan matching service. However we do receive a small commission from lenders for the introduction of a potential customer. This commission does not affect the overall
cost of your loan, nor your loan application in anyway.
As part of the process of applying you are agreeing that lenders will carry out a soft search on your credit file to assess your eligibility for the product you are applying for. Soft searches are only visible to you and do not affect your credit rating. Should you elect to move forward with a loan product, the lender may then convert the soft search into a hard search which will be visible to other credit providers and yourself. A hard search can negatively impact your credit score