Frequently Asked Questions

1What fees are 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 it can be built into your loan package.

2Over what period of time can I extend my loan?
This is entirely up to you, and the repayment consultant may help you resolve it. Generally, loans are available from three to thirty years.

3Are fixed interest rates offered?
The vast majority of our loans carry interest rates fixed for up to five years (where the loan term is 60 months or longer). We also offer fixed interest rates for up to fifteen years, and capped rates.

4How much can I borrow?
This will depend upon your on-and income and the available collateral.
Subject to these factors, we can organize a loan from a minimum of £3,000 to a maximum of £500,000.

5Once I sign the paperwork, am I committed?
No, signing 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.
N.B. Annulment of a mortgage application must be prior to a formal offer of a loan being received by you. A formal offer usually takes, more or less, three weeks to arrange.

6What 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 need to do so, your permission will be taken first.

7What if I want to borrow more in the future?
Simply contact our office. We will willingly deliver a quotation for further advance.

8How long will it take to fix up the loan?
The process generally takes two to three weeks. Mortgages usually take between three and six weeks, and remortgages can take between three and five weeks, depending on a number of factors including how quickly you can supply us with the requisite documents and credentials to complete your application.

9What if my circumstances change - or if I have other questions?
For such a case, we will allot an advisor who will be in liaison with you and you can contact him at any time of the day to clear your doubts. Or you can speak to our friendly and experienced customer care executives. Associate with Loans Fiesta and make the best use of our experience and expertise. So if you are with us, you will get a prompt reply and trustworthy help.

10Are there any restrictions on how I can spend the money?
No, we are not bothered about how you spend your money. You can use the money for any purpose.

11What if I want to settle the loan early?
The balance outstanding will be calculated and a rebate given on the outstanding interest in accordance with the Consumer Credit Act 1974.

12What if I want to move residence?
Simply pay the unresolved loan balance from the earnings of the sale. We may be able to transfer the loan to your new property.