Frequently Asked Questions

We answer everything you need to know about applying with Lending Expert and the products we offer. For any additional queries you may have or potential partnerships, please contact us directly.

 

Are You a Broker or a Lender? 

Lending Expert is a credit broker, not a lender. We are regulated and authorised by the FCA as an intermediary to broker financial products for consumers and businesses in the UK. Every partner we work with is regulated by the FCA and is assessed beforehand.

 

Are You Regulated by the FCA?

Yes, Lending Expert can be found under the FCA’s Financial Services Register under firm reference number 660914.

 

Are Loans Secured or Unsecured?

We feature a combination of secured and unsecured loans.

Some products are fully unsecured and your eligibility is based on your credit history and affordability, such as personal loans, peer-to-peer loans and other short term loans.

For secured products, you will be required to provide collateral such as your vehicle or property to borrow money, which may be at risk of repossession if you cannot keep up with repayments.

Other products can be either secured and unsecured depending on the individual’s circumstances and credit status including debt consolidation loans, home improvement loans and business loans.

 

Do I Need a Guarantor?

No, you will typically not require a guarantor for the financial products we offer, unless you specifically apply for a guarantor loan. Our product listings will always state if you require a guarantor to be added to your loan agreement.

 

Is My Credit Score Affected When I Apply?

No, when using our eligibility checker, it runs a ‘soft credit check’ on your credit file meaning that it does not stay on your record and will not negatively impact your credit rating. If you continue through our site to apply with one of our partnered lenders, they will typically run a ‘hard credit check’ which will stay on your file for 12 months as a record of the credit search. This will not impact your credit rating, but you should try to avoid having multiple searches in a short space of time.

 

Can I Apply with Bad Credit?

Yes, our partners offer a range of products which are specifically for customers for bad credit and poor credit histories, including a history of CCJs and IVAs. Where bad credit history is present, you may be required to show proof of a steady employment and income, the use of a guarantor or some form of collateral (such as your car or property) to add extra security to your loan.

 

Do You Charge Any Fees?

No, we do not charge any fees for applying through our website, instead we take a commission from the lender upon the successful approval of your loan application. The only fees you are charged are by the lender who has successfully funded your loan. Other fees to be aware of are typically for secured loans or mortgages and these include admin fees, broker fees, surveyor fees and early repayment fees. Any fees applicable will be explained in writing prior to any loan offer.

 

What Information Do I Have to Provide?

Our loan application requires some very basic information including how much you wish to borrow and how long for and some personal information including your name, residential information, age, employment status and monthly income.

A soft credit check will be run against your credit file and using all this information will allow us to match your application with the best product to suit your requirements.

For secured loan products, you may be required to provide information about your vehicle or property, including its value and how much equity you have in it.

 

When Can I Apply?

You can apply via our website, 24 hours a day, 7 days a week. All applications are completed online and not over the phone or via the post.

 

How Much Can I Borrow?

Customers can borrow £50 to £10 million for all purposes including emergencies, holidays, paying off debts, business loans and more. The amount you can borrow will typically depend on factors such as your income, credit status and affordability. If you are using secured loans, the amount you can borrow may depend on the size and value of your security or asset (e.g property or vehicle).

 

How Long Does it Take to Receive Funds?

Funds can typically be available in 1 to 3 working days. There are some unsecured or payday products that might be available within just a few hours or the same day of applying. However, larger loans which require proof of security (such as property-backed loans) may take up to 2 weeks or longer.

 

Do You Pass on My Information to Other Companies?

We will not pass on your details to other companies without your permission.

Our price comparison tables will allow you to choose the lender based on your preferences and you will simply click through to their website where you can apply.

For various secured products such as bridging, homeowner loans and equity release, we may require you to complete our initial loan application. This will be shared with one of our partners who are FCA-approved and they will help source the best deal for you possible.

Your credit score will not be affected by using our price comparison services and we do not charge any fees for using our services.

 

How Do You Keep My Data Safe?

Lending Expert is credit broker and not a lender. We are regulated by the Financial Conduct Authority no: 660914 and also registered as a data controller & for data protection with the Information Commissioners Office No: ZA018282. Lending Expert Limited is a private registered company and can be viewed on Companies House.