Here at Blue Pearl Finance we understand how daunting it can be to find the finance that suits you therefore we have put together a list of commonly asked questions that we feel will give you the bigger picture.

Q: What do you do at Blue Pearl Finance?

A: When you submit an application we will process that application through our Panel of lenders.  We currently deal with 100% of the UK lenders therefore we can find the best deal for you.  Once we have selected the best deal that lender will contact you directly to discuss the ins and outs (Rates etc).  If you are happy to go ahead then they will forward the relevant documentation to you for signing and release the funds.  Easy!  In order for the Lender to get in contact with you please enter as many contact numbers as possible so they can contact you Mon – Fri, 9am – 5.30pm.

Q: What size loan can I have?
A: You can borrow any amount from £5,000 - £100,000, dependent on your personal circumstances. Sometimes we process loans for larger amounts dependent on the individual situation. Our typical loans are between £5,000 - £100,000.

Q: How long will it take to get my loan?
A: You could get your loan quicker than you imagine. We aim to secure initial approval of your loan within 24 hours of your enquiry. We attempt to have all loans completed within 16 days of the application being approved, but some cases may take longer depending on your circumstances. Our experience and close day-to-day contact with you and the lender means we can process your loan quicker than most.

Q: What will my monthly repayment be?
A: This depends on how much you want to borrow, and how long you intend to borrow the money for. Your dedicated loan officer will tailor your loan to ensure your repayments suit your personal budget. We never encourage our customers to borrow any more than they can afford to repay comfortably.

Q: What interest rate will I get?
A: We have a panel of lenders that provide a variety of loan plans, so we can find an interest rate suitable for your individual circumstances.

Q: Can I repay the loan at any time?
A: Yes, you can pay the loan back at any time. If you choose to do so, you will benefit from a rebate of interest in accordance with the Consumer Credit (Rebate on Early Settlement) Regulations 1983. This means you will not have to pay all the interest that would have been due to the end of your original loan term, so the total amount payable will be less.

Q: Can I pay extra on my loan?
A: Many of our loans allow you to pay extra on your standard repayment. This could be at the same time as your normal monthly repayment or at any other point in the month. The extra amounts you pay will reduce the outstanding balance of your loan accordingly. Therefore, you will be paying the same monthly interest, but on a smaller loan balance, and will be able to clear your loan in full sooner than the original term. If you repay early there will be an early repayment charge (usually 6 months interest).

Q: Can I borrow more in the future?
A: You can apply for extra lending if the conduct of your loan account is to your lender's satisfaction. Many of our loan plans allow you to apply straight away for extra lending, the others may request that your original loan account be running for three or more months before they will consider your application for extra lending.

Q: I have mortgage arrears, can you still help?
A: Being in arrears on your mortgage does not prevent you getting a loan. If you have arrears on completion, all the arrears will be paid off with the proceeds of your loan. When applying, if you require a certain amount of spare cash, you must add this to the amount you need to clear the arrears. Debt consolidation may increase total costs in the long term.

Q: I have CCJs, can you still help?
A: If you have Count Court Judgements (CCJs) it does not restrict you from getting a loan. You might want to clear some or all of your CCJs with part or your entire loan. You don't have to clear any CCJs, it's entirely your choice. Debt consolidation may increase total costs in the long term. An alternative solution may be to look at an IVA or debt management.

Q: I can't afford to make my repayments.
A: Firstly, contact your lender immediately and let them know the situation. They would prefer to know beforehand. Your lender will explain the terms of your cover and do everything that they can to help you bring your account up to date.