Foundations Loans

When I apply for a loan how much can I borrow?

You are able to borrow from £5,000.00 to £500,000.00 - if the amount you require is not within this region - on a referral basis we may be able to help - just let us know.

How long do I have to repay my loan?

With all the lenders we have on our panel, the terms range from 5 years to 30 years.

What will my monthly payment be on my loan?

This will depend on entirely how much you borrow and how long you intend to borrow the money for. As a responsible broker, we advise all customers to only borrow an amount that they are able to afford.

What if I have defaults, county court judgements or mortgage arrears, will I have problems getting a loan?

No problem! We have numerous lenders on board that offer various loan products & although you may have bad credit, they may still be able to help. Having bad credit doesn't prevent you from getting a secured loan.

Will I be charged a fee when I apply for a loan?

As a company policy, we do not charge up front fees - any fees will be added to your loan (if applicable) and will be paid upon completion, so you will not have to worry about finding the extra cash.

Will my loan be fixed rate?

We are able to offer fixed or variable rates upon request. Whatever your requirement, we will ensure that we find the best option for you.

Is my application for a loan confidential?

All applications are strictly confidential, whether we are able to help or not. From time to time, we may pass your details onto 3rd parties if we cannot process a loan for you to see if they can help - but this would be done with your permission. We treat all applications in the strictest confidence and at no time will we contact your employer or bank except with your permission. As a company we abide by the laws of the Data Protection Act (DPA) and are also a member of the Association of Financial Brokers (AFB).

Can I use my loan for any purpose?

Majority of our clients borrow money to consolidate their outstanding credit, some may use it for home improvements, for a holiday or even for a wedding - ultimately it is up to you to spend it on whatever you wish.

How quickly can I get my money?

Majority of our applications complete within 21 days, although slightly more complicated ones can take somewhat longer. You can help us reduce the length of time it takes to complete your application by sending us the documents we require as soon as possible, so that we can ensure a speedy application.

When I apply for a loan, will I have to send all my personal documents to you?

Every customer's application is different to others. Our professional underwriters will assist you with the application by asking for all the relevant documents we need.

Will I incur any penalties, if I repay my loan earlier than the term specified?

You are able to repay your loan at whatever time you wish to, however, dependant on the terms of your credit agreement, you may incur redemption penalties. The calculation varies between each of the lenders that we use. Unquestionably you will not have to pay all the interest that would have been due if the loan was to run for the full term of the agreement, which means the total cost of your loan will be less.

Can I make a payment on my loan which is more than the specified monthly payment?

Some of our lenders will allow this to be done, but each of them has their own set rules for this. The amounts you pay over and above will reduce the outstanding balance of your loan accordingly. We have various repayment options to choose from.

Can I protect my monthly payment on my loan?

Majority of our lenders policies provided, run for a period of 3-5 years. They offer protection on all our loans - for example Accident, Sickness and Unemployment (ASU), Payment Protection Plan (PPP). You are also able to cover yourself in the event of death (Life Cover). If you require further information, please feel free to contact us and we can discuss all the options available to you.

What if I cannot make my monthly payment on my loan?

Firstly you should contact your lender and advise them of your situation as soon as you are aware that you cannot make the payment. If you have any insurance cover, you should check your policy to see if you are covered. Your lender will endeavour to do everything possible to bring your account back on track.

Can I cancel a secured loan application?

You are under no obligation whatsoever when you make a loan enquiry. You can cancel your secured loan application at any time up to completion without cost or penalty. Once you receive the funds, you are legally bound by the terms and conditions of the agreement.

How do I apply for a loan?

All you need to do is contact us on 0800 169 6570 or click here and one of our experienced advisors will be able to help you find the best loan product for you!

What forms of ID can I use?

Every lender can vary when it comes to forms of ID (identification). Although the list is not exhaustive, typical types of ID include:

• Valid Passport
• Drivers License (if photo card style the paper-part will be required to accompany it)
• Bank Statements (not internet based)
• Credit Card Statements; Inland Revenue Letters
• Utility Bills (Gas, Electric, Water, Council Tax, Rates, Land Line Phone Bills)

The majority of lenders will require to see the original copy but at foundations we offer a certifying service so if you send the ID to us by royal mail special delivery, we will certify we have seen it and return it straight back to you the same way, meaning it only leaves your hands for a couple of days.

Am I eligible for a loan?

To qualify for a secured loan you must be over 18, a UK resident and have a running mortgage on your property. If you do not want a secured loan (ie: you want to borrow less than £5,000) but meet all the other requirements you maybe eligible for an unsecured loan. Apply now for a secured or unsecured quote.

How do I Choose a Broker?

Everyone wants different things from a loan and it is a brokers’ job to locate the right loan for you. If you want a warm and friendly service and someone who will listen to your requirements then you need look no further. We devote our time and knowledge to you, searching most of the UK’s top lenders to find the right loan for you. We offer loans between; £5000 – £150,000 for everyone regardless of your profession or if you have bad debt or mortgage arrears. Apply now and see the service we provide for yourself.

What is the right loan for me?

The right loan for you will depend on your circumstances. Apply now or talk to one of our advisors on 0800 169 6570 who will help you discover the right loan for you.

Do you charge any upfront fees?

As a broker and in TCF we do not charge any upfront fees.  In some instances we will charge a broker fee which is added to your loan balance and incorporated within your monthly repayments. This fee will be no more than 10% of the amount borrowed and is used to cover the costs of valuations, mortgage references and any additional costs in providing you with our service.

Can I pay my loan off early and if so is there a penalty?

Yes you can. Some lenders allow you to make over payments; which not only reduces the term of your loan but also reduces the interest that you pay back. If you settle your loan in full you will be subject to a penalty which you will find details of on the terms and conditions of your credit agreement.

Can I protect my loan repayments?

Yes you can. We offer payment protection to all our eligible customers and we will happily discuss the option to you.

Can I have a loan if I have Arrears on my Mortgage, CCJs or Defaults?

Yes you can. We can help people in all sorts of financial difficulties as we are able to assess the market depending on your circumstances to find the right loan for you. Some lenders will require any mortgage arrears or any items of bad credit to be cleared with the loan proceeds.

How do I apply for a loan?

Simply click here for a secured loan quote or here for a unsecured loan quote to apply online, or you can call us FREE on 0800 169 6570