Representative Example
If you borrow £500 over 12 months, your total repayment is £929.40. Your monthly instalments will be £74.95 and a one off 6% administration fee of £30. Annual Interest (fixed) is 125% per year with a 280% Representative APR.
New customers can apply for a loan of up to £1000 for between 6 and 12 months. Existing customers can apply for a loan of up to £3,000 for a maximum 18 months.
Secured Loans
When considering a loan, it is very important to understand the difference between a secured loan and an unsecured loan.
When you take out a secured loan, the lender is given legal access to an asset you own – usually your home – as security for the loan. They could claim this asset to repay your loan if for any reason you were unable to make loan repayments. This could mean you losing your home.
Some of the main reasons why you may be considering a secured loan are:
If you need to borrow a large sum of money : many lenders will only lend larger sums of money if the loan is secured.
To get a lower interest rate : interest rates may be lower on a secured loan, because the loan is less risky for the lender. If you have a poor credit rating : lenders may have less stringent criteria for a secured loan because they can claim your home if you are unable to make the repayments.
However, the main disadvantage of a secured loan from a borrower’s point of view is that there is a risk of losing your home if you can’t make your loan repayments.
If your main concern is your current credit score, Fair Finance may be able to help. We will consider you for an unsecured loan even if you don’t have a perfect credit score. As long as the loan repayments are affordable for you, we may be able to lend to you.
Fair Finance offers unsecured loans of up to £1000. You can either apply online using the Apply Now button, or by phone, by calling us on 020 8988 0627.
Want to know more?
WHY BORROW A FAIR PERSONAL LOAN
Bad Credit? On Benefits? New to the UK?
Discounts for existing customers
No hidden surprises
LET US ANSWER YOUR FAQ’s
We are a direct lender providing affordable loans of up to £3000
Why should I come to Fair Finance?
Fair Finance is a social enterprise. We aim to tackle financial exclusion. We build products for people with financial problems. We offer the cheapest price we can that is responsible and sustainable. We are actively transparent clear and honest.
I receive benefits. Can I still apply for a loan?
Yes. Many of our clients receive benefits. The most important factor for us is to make sure you are on top of your finances and can afford our loan.
What is a Hard Search/Hard Credit Check?
A Hard Credit Check occurs when a company carries out a complete check of your credit report in order to understand your financial behaviour with other creditors. Each hard credit check is recorded on your credit report as a Hard Search, so any company reviewing your report will be able to see that you have applied for credit. If you apply for a loan with Fair Finance, we will carry out a hard credit check to assess your suitability.
Any more questions?
Money worries? Need information or Advice?
