Loan guide, secured loan guide

	Home About Us Apply On-line Call Me Back Secured Loans Homeowner Loans Consolidation Loans Customer Testimonials Lender Testimonials Loan Jargon Buster Latest Loan News Loan Purpose My Situation

Here are some of the most important things to consider before going ahead with your loan

1. Interest Rate

The interest rate you are offered will depend upon your personal circumstances, credit rating and the type of loan product you require.

Our rates start at 7.9% APR variable and the maximum interest rate is 17.5% APR variable.

Whether you have a ‘blue-chip’ credit rating or you have experienced problems with your credit we should be able to find a plan to suit you.

2. Is the interest rate Fixed or Variable?

Most Lenders have variable rate loans, however, fixed interest rate plans are also available for up to five years.

3. Payment Protection Insurance

All of the plans offer optional payment protection insurance to protect your repayments against certain unforeseen circumstances happening to you, such as accident and sickness or unemployment.

Please click here to read more as this is a very important area.

4. First Repayment Date

Most loans start one month after completion, however, we do have plans which defer the first repayment for 3 months. Take care here, for only the repayment is deferred, interest will still accumulate.

5. Capital Repayments

We do have loans which allow additional repayments to be made, and wherever you make additional repayments they will reduce the total amount of interest you will pay.

6. Early Settlement

You can settle a loan at any stage but note the following:
There are currently two types of loans in the UK;

Regulated – loans up to £25,000
Non-regulated – loans over £25,000.

The maximum charge for early settlement on a regulated loan is 2 months interest on the outstanding balance. Different lenders have different calculations for non-regulated loans so please ensure that you always read the Terms & Conditions before proceeding. From April 2008 all loans in the UK will be regulated under the terms of the new Consumer Credit Act.

7. Adverse Credit History

We will always try to help our customers whatever their circumstances. We also try to obtain the most competitive quotes we can find. To prove this our average A.P.R. charged for clients with severe credit problems is 11.9% APR variable.

8. Hidden Costs

There are no hidden costs with any of the loans we arrange for you. All charges are highlighted on your credit agreement.

9. Fast professional service

In our experience our customers require funds to be available quickly. At BFS we provide a fast professional service. Please read our Customer Testimonials.

10. Lenders

We only use Lenders who are well known in the industry and who we feel will give our customers good financial products to suit their needs.


Loan Guide My Situation Loan Calculator Consolidation Calc Jargon Buster Site Map FAQ's


Car Loan Leisure Loan Wedding Loan O/s Property Loan Home Improvements Special Holiday Loan

The overall cost for comparison is 10.8% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. Our rates start from 7.9% APR variable. We also have a range of plans with rates up to 17.5% APR allowing us to help customers even with the most severe credit problems. If you are thinking of consolidating existing borrowing you should be aware that you will be extending the terms of the debt and increasing the total amount you repay. A fee of between 0% and 10% of the loan may be charged depending on credit history and ability to prove income. The amount of fee will depend on your circumstances, however, we estimate that it will be 5% of the loan amount.

BFS Direct and Brighter Financial Solutions are trading names of BFS Direct Ltd registered in England No. 5038979.
Registered office is 2 Breach Lane, Great Easton, Dunmow, Essex, CM6 3QT.
BFS Direct Ltd is authorised and regulated by the Financial Services Authority Registration No.305249.