Frequently Asked Questions
- How much can I borrow?
- Over what term can I make repayments?
- Can I have a loan for any purpose?
- What is payment protection?
- Can I settle my loan early?
- Is my application in the strictest of confidence?
- Do you charge a fee?
How much can I borrow?
There are a few restrictions, but of course it depends upon how much you can afford to pay each month. We offer loans from £5,000 to £150,000, subject to personal circumstances (such as the equity available in the property and previous credit history)
Over what term can I make repayments?
You can usually select a term between 5 and 30 years. Subject to personal circumstances.
Can I have a loan for any purpose?
Yes. There are very few restrictions, the most commonly accepted purposes being:
- Pay off existing debts
- Home improvements
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
What is payment protection?
Optional Payment Protection Insurance gives you that peace of mind should the unexpected happen. Typically, the policies we offer would cover your monthly loan repayments against Accident, Sickness, Involuntary unemployment and Death, (availability may be subject to personal circumstances) Claims for pre-existing conditions may not be met and there is a 30 day waiting period for claims under the disability and unemployment sections. If you cancel the cover before expiry of the policy, providing no claims have been met, you would be entitled to receive a partial refund of the premium paid but this would not be on a pro-rata basis.
Our No-obligation quotation (provided where Payment Protection cover is available) will always illustrate the repayment options of the loan with and without Payment Protection Insurance, the choice is yours to make!
Can I settle my loan early?
Yes. The method of calculating the amount of money required on early redemption will be stated in your loan agreement.
Is my application in the strictest of confidence?
Yes. We will not contact any third party without your written authority.
Do you charge a fee?
AWD Loans charges a fee of up to 7.50% of the net loan amount, subject to a minimum of either £695 or £995, dependent upon your circumstances, and a maximum of £1995, which, along with any lender fee (if applicable) will be included. Full details will be supplied with all quotations. Please remember all third party costs involved in AWD Loans processing the loan i.e. valuation fees are met by us in full.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED AGAINST IT.
