Frequently Asked Questions

Ques. How much can I borrow?
This will depend upon your on-hand income and the amount of collateral available in the form of assets.
Subject to these factors, we can organize a loan from a minimum of £3,000 to a maximum of £500,000.

Ques. Once I sign the paperwork, am I obligated to take the loan?
No, signing the paperwork doesn’t mean that you are bound by it. If you change your mind afterwards, you can cancel it at any time at no cost.

Ques. Are there any fees charged?
No broker fees will ever be charged up front. However, in some cases a fee may be charged on the maturity of your loan. The maximum limit is 10%. You will be aware of any possible fee from day one and they can be built in to your loan package.

Ques. Over what period of time can I extend my loan?
This is entirely up to you, and a repayment consultant may help you decide. Generally, loans are available over three to thirty years.

Ques. Are fixed interest rates offered?
A vast majority of loans arranged by Chance For Loans have interest rates fixed for up to five years (where the loan term is 60 months or longer). We also arrange fixed interest rates for up to fifteen years, and capped rates.

Ques. What about privacy and confidentiality?
We treat your loan application as classified information. We will not contact your employers, bankers or any other third party. If we have to, we will take your permission first.

Ques. Are there any preconditions on how I can spend the money?
No, the lending agency which advances the loan is not bothered about how you spend your money. You can use the money for any purpose

Ques. What if I want to settle the loan early?
Different lenders have different policies on early repayment. The lenders who accept early repayment will calculate the outstanding balance, and a rebate is given on the outstanding interest in accordance with the Consumer Credit Act 1974.

Ques. What if I want to move house?
Simply pay the balance of the loan from the earnings of the sale. Alternatively, the lending agency can transfer the loan to your new property.

Ques. What if I want to borrow more in the future?
Simply contact our office. We will be more than happy to arrange a suitable quote  for the required advance.

Ques. How long will it take to fix up the loan?
The process generally takes two to three weeks. The time gap depends on how quickly you can supply us with the requisite documents and credentials to complete your paperwork.

Ques. What if my circumstances change - or if I have other questions?
In that case, we allot an advisor who will be in liaison with you and whom you can contact at any time of the day to clear your doubts. You can also take the help of our friendly and experienced customer care advisors. Associate with Chance For Loans and make the best use of our expertise.