How much can I borrow?

You can borrow any amount from £5,000 to £500,000 and repay the loan over any period between 5 and 25 years. It is up to you to decide which monthly payment suits you best. Please refer to our monthly payment chart for repayment examples and remember - if the amount and/or term you wish to have is not quoted, please email info@reddragonfinance.co.uk so we can give you the quote you need.

Can the loan be used for any purpose?

Within reason, yes. You may be thinking of clearing all your existing loans and credit cards so you can reduce your monthly outgoings and have one manageable payment each month. Alternatively, you may be thinking of carrying out some home improvements or purchasing a car. You could even combine these ideas to clear your existing credit, have a cash sum and reduce your monthly outgoings. Whatever you decide you will receive a cash sum to spend as you wish.

I don't currently own a property or have an existing mortgage
Am I eligible for a loan?

Regrettably no, we are unable to offer loans unless you currently own a property or have an existing mortgage on one.

Can I insure my payments?

All loans are offered with the option of payment protection insurance. Loan repayments can be insured so you don't have to worry if you become unemployed or are off work through accident or sickness. If you wish to insure your payments there are different levels of cover available to suit your needs.

How long before the loan funds are available?

In general, your loan can be approved, subject to references, in 14 days. If you choose to borrow more than £25,000 the loan cheque could be with you even sooner.

Can I have a fixed rate?

Yes you can. We have access to many lenders who are able to offer this option to you, so the decision is up to you whether you require a fixed or variable rate.

Can I clear the loan in full early?

Your loan can be repaid in full at any time. How the lender calculates the amount of money required to settle your loan will be stated in your loan agreement. A FISA Borrowers Guide will also be sent to you along with your loan documents. This booklet explains early settlement calculators in detail.

Are there any upfront fees?

There will be no upfront fees charged. In some instances we will ask for a fee to be paid on completion of the loan (In general this fee will normally be 5% of the loan). This fee will be added to the loan contract and deducted only when you receive the loan proceeds. All fees will be detailed on the loan documentation.

Which lenders do you deal with?

We have access to a great range of lending organisations, the majority of which are subsidiaries of high street banks. Therefore you can be rest assured that we will be placing your business with a reputable lender.

Your home is at risk if you do not keep up your repayments on a mortgage or other loan secured on it. Loans secured on property. Licensed credit brokers. Written quotations available on request.