We’ve broken down the Total Amount you repay for your loan so you can see what your repayments go towards – see below for a full breakdown of our Representative Loan Example:
|Loan Amount||The amount you borrow||£7,500.00|
|Loan Term||The period of the loan repayments||60 months|
|Monthly Repayments||The amount you repay each month||£263.83|
|Interest APR||Interest charged on your loan||40.53% APR|
|Total Amount Repayable||Total amount you repay||£15,829.80|
|This example includes an Acceptance Fee of £750 (10% + £390)
LOAN EXAMPLE IS INCLUSIVE OF AN ACCEPTANCE FEE WHICH IS 10% OF LOAN APPLIED FOR. ON A SUCCESSFUL LOAN APPLICATION, FEES ARE PAYABLE TO PROGRESSIVE MONEY LIMITED, BROKERS OR OTHER GROUP COMPANIES. AN ADMINISTRATION FEE (INCLUDED IN LOAN EXAMPLE) OF £390 IS CHARGED AND PAYABLE TO PROGRESSIVE MONEY.
Loan example is inclusive of an Acceptance Fee which is 10% of loan applied for. Fee payable to Progressive Money Limited. The Acceptance Fee will be charged to you when you have been referred to us by an introducer, including associated group companies, we will pay to them a fee for the introduction.
An Administration Fee of £390 will be charged and is payable to Progressive Money for the relationship management services we will provide in managing your Account. This will include:
If you are an existing customer, then in order to qualify for extra funds with a different loan rate with Progressive Money Limited;
Progressive Money Personal Loans are unsecured loans and are not secured on your property however to qualify you will need to be a homeowner living at that address. But please remember, if you are having trouble making your payments, or just think that you might, please contact us immediately and we will do everything we can to help. If you continue to miss payments and we are unable to resolve the situation satisfactorily, as a last resort we will instruct our solicitors to commence proceedings against you which could include applying to place a charge on your property, so any outstanding loan payments would need to be paid once your property was sold, affecting the amount of money you receive from the sale.