1 MAKING THE LOAN
We will make the loan available to you by crediting it to your bank account or by sending a cheque, or any other payment method you find fit. Note also that the minimum amount of loan we grant to individual applicant ranges from 3,000 . We also have a maximum amount of loan for personal and companies which amount to 500 million . Therefore applicant are allow to borrow within the specific range this is done based on the (BIL) BRITISH INSURANCE LAW the law governing money laundering in the United Kingdom.
2. INSURANCE POLICY / SECURITY/LOAN TRANSFER.
An agreement document and Approval certificate must be sent to applicant to sign and returned back before transfer of Loans can be done. This is done based on the (BIL) BRITISH INSURANCE LAW the law governing money laundering in the United Kingdom, it states that "the lending of money within and outside the country must be insured against the risk of theft, loss and terrorist activities" Be informed that, in line with the governing rules before we transfer the loan it must be insured. In this regards we insure all loan before we transfer them.
3. DEFAULT AND EARLY REPAYMENT
3.1 I may refuse to make the loan available or, if you have already received the loan, demand repayment of the full amount you owe me, if you fail to pay on its due date any amount payable to me under this agreement or under any other agreement with me; or you fail to comply with any of the other terms of this agreement; or i discover that any material information which you provided in the course of obtaining the loan is incomplete, inaccurate or untrue.
3.2 Before demanding early repayment under clause 3.1, I will send you a Default Notice.
3.3 If you find yourself in financial difficulties, you should let me know as soon as possible. The sooner we can discuss your problems, the easier it will be for both of us to find a solution.
4. ENDING THIS AGREEMENT
4.1 You can end the agreement at any time by paying off all amounts payable under the agreement.
5. EXTENDING THE LOAN TERM
If you have been paying instalments when required by the agreement for a continuous period of at least six months, you may choose to increase the number of monthly repayments set out under the heading "loan terms”. You may increase the number of payments by up to the original term shown under the heading "Loan Terms" provided that the overall term as extended may not exceed seven years. I will notify you of the new amount of the monthly instalments, which will include the additional amount of interest payable as a consequence of the extension.
6.1 Agreement can be changed to make it fairer to you or more easily understandable, or to correct a mistake (provided that this correction would not adversely affect you), or to cover a development in, or the introduction of, new products and Services or to reflect a change in the law or any code of practice (or the way in which they are applied).
6.2 We will give you at least 30 days prior notice of any change or addition to the agreement which is to your disadvantage and i will let you know of the change by sending you an e-mail, letter or separate written notice.
6.3 Any other changes can be made to the agreement which are not to your disadvantage immediately and will tell you about them within thirty days after the change. These changes will be so notified by sending you an e-mail, letter or separate written notice.
7.1 Loans are only available to people aged 18 or over.
7.2 The agreement is governed by the laws of England and Wales which will also govern the relationship between me and you before the conclusion of this agreement. The courts of England will have non-exclusive jurisdiction for any related disputes. I will always communicate with you in English.
7.3 notwithstanding the terms of any security which I hold or may in the future hold, the sums due under this agreement are unsecured, except for rights arising by operation of law.
7.4 We may record or monitor phone calls between us so that I can check instructions and make sure that I am meeting my service standards.
7.5 We provide financial services to customers.
8.1 If you think We have made an error or that We have not delivered the standard of service that you expect, please let us know promptly so that we may investigate the circumstances as soon as possible.
9.1 You agree to repay the loan by the installments and on the days specified under the heading "Loan Terms" in this mail. The first installment will be paid 6 months after the loan is made.
9.2 You may, by notifying me of your wish to do so, change your payment date to a date falling within one month of the Payment date specified in the agreement which will be sent to you by my attorney. If you change your payment date, I will notify you of the new amount of the monthly installments which will include any change in the amount of interest payable by you as a consequence of that change.
Simply contact our representative to forward you an APPLICATION FORM if you wish to obtain a loan. Your application will be treated urgently with our 24 hours online service.
A decision to offer you a loan is based on your individual circumstances.
GUIDE TO LOAN
Many households are struggling to make ends meet as the cost of living keeps rising. There’s little spare cash around to build up an emergency fund, which means it can be tricky to pay for a new washing machine or boiler if your old one breaks down. Maybe you need a new car, or perhaps you’re planning a holiday, a wedding or a home makeover?
Pros and cons of loans
Let’s face it, most people at some point in their lives need to borrow some money. So it’s important to understand the pros and cons of the different types of loan, as well as how to secure the best rates. If not, you could end up with a poor deal – and costly credit can send you into a downward debt spiral.
Loans can broadly be divided into two categories: secured and unsecured. With a secured loan, the lender will insist on some sort of security against the money you borrow, often a house or car. If you default on the payments, the bank or building society can then sell the asset to clear the debt.
You can usually borrow large amounts with a secured loan, and at a lower rate of interest. Plus, you can pay back the debt over a long time period, perhaps ten or 15 years.
However, secured loans are more risky than unsecured loans because you could lose your collateral if you cannot clear the debt. You should therefore think very carefully - and consider other options - before taking out a secured loan.
An unsecured loan, often referred to as a personal loan, is not secured against any asset. Of course, you still have to pay the money back and the lender could pursue you into court if necessary to get its money back. But you don’t have to put up your house or car as collateral.
Help with budgeting
You can typically borrow as little as £3,000 up to a maximum of £500,000,000.00 with a personal loan. The interest rate is usually fixed and you pay back the debt over a set term, normally one to 25 years. Personal loans can therefore help you to budget because you know at the outset the full cost of your borrowings and how long they will take to clear.
The interest rates on personal loans depend partly on the loan amount and term. But lenders also assess your credit worthiness, usually by looking at your credit file. The lowest rates are reserved for the best customers – that is, borrowers with a spotless credit record.
If you are judged likely to default on the loan because of a poor credit history, you will be charged a higher rate of interest or your application will be turned down.
In other words, there is no guarantee that you will qualify for the advertised rates. Lenders are allowed to boast of low representative rates if those rates are charged to 51% of successful applicants, which means almost half could be charged a higher rate.
Bad credit loans
Some companies specialize in lending money to people with a poor credit record. The rates of interest will undoubtedly be high, but a bad credit loan can help you out of a tight financial spot. It can also help you to clean up your credit file.
If you keep up the repayments, you can prove to other lenders that you can manage your debts and so improve your chances of getting a better deal next time. Alternatively, people with a low credit score might be more successful if they apply for a secured loan.
If you are refused a loan, try not to make too many further applications as each one leaves a footprint - and lenders are wary of people who frequently apply for credit.
You can pay off your debt before the end of the loan term if you come into some cash. But watch out for early repayment fees. Many lenders levy a penalty for early repayment, which could wipe out any potential interest savings.
Some lenders also charge arrangement fees for personal loans, which you should factor into your cost calculations.
Payment protection insurance
A lender will probably try to sell payment protection insurance (PPI) – sometimes known as Accident, Sickness & Unemployment cover – when you take out a loan. PPI is intended to cover the loan payments if you cannot work, perhaps if you lose your job or fall ill – and it can be useful. However, it’s important to read the small print of any policy and to understand the various exclusions.