Faqs

We have provided answers to the most frequently asked questions for your convenience. If you still have any queries please do not hesitate to contact us for further help and information.

1.How do I know that I am dealing with a reputable firm?

EStreet Services is registered as a Limited Company in England & Wales with Company No. 06969766. Our registered office is situated in 59A Kingston Road, London, England , SW19 1JN.

We have been associated with UK major banks and building societies who are in the business of lending for years. They are well experienced in their job and have been classified as trustworthy by borrowers. Moreover we are proud to inform you that our Company is duly registered with the Data Protection Act, 1998 and is registered with the number Z218056X.We have been associated with UK major banks and building societies who are in the business of lending for years. They are well experienced in their job and have been classified as trustworthy by borrowers. Moreover we are proud to inform you that our Company is duly registered with the Data Protection Act, 1998 and is registered with the number Z218056X.

2. What kind of loans can I avail?

You can avail a variety of loans from our lenders. We may arrange for you a range of secured and unsecured loans such as personal loans, holiday loans, debt consolidation loans, home improvement loans, car loans, business loans etc. You just need to choose a loan according to your requirement and fill up an online application form and the lender will get back to you with.

3.How much can I borrow?

This depends on your personal circumstances. The maximum loan you could apply for depends on several factors which include: the value of your house, your income and your credit history. In case of unsecured loans your repayment capacity as well as your credit record plays a vital role to determine the loan amount.

4. I am self employed, can I get a Loan?

Yes. We do offer assistance to people who are self employed.

5. What percentage of my home's appraised value can I borrow?

The amount that you can borrow is based on a variety of factors. However, most borrowers can borrow at least 80 per cent of their home's value. There are some lenders who provide up to 85 per cent of the value of security.

6.Do you offer advice?

No, but we can give you information on our services and loan products to allow you to choose for yourself. If you need advice you should speak to an Independent Financial Advisor.

7. Can I get a mortgage offer before I find my property?

You can choose the mortgage that suits you best and get an 'agreement in principle' from a lender. However, your lender won't make a formal mortgage offer until a valuation has been carried out on the property you wish to buy or remortgage.You can choose the mortgage that suits you best and get an 'agreement in principle' from a lender. However, your lender won't make a formal mortgage offer until a valuation has been carried out on the property you wish to buy or remortgage.

8. What does APR mean?

APR stands for Annual Percentage Rate of charge. A lender is always required to quote the APR when advertising a loan or borrowing rate. The APR calculates the total amount of interest that will be paid over the entire period of the loan. It must also take into account any charges which the borrower has to pay in order to obtain the loan and during the loan period (such as lenders fees, valuation and legal fees etc). The purpose of APR is to help you compare the true cost of borrowing.

9. What is the difference between A.P.R. and interest rate?

The interest rate is the percentage of an amount of money which is paid for its use for a specified time. The APR is the interest rate which reflects the true cost of borrowing in percentage terms. This rate is usually higher than the stated loan rate because it takes into account the total cost of borrowing including points and other charges.

10. What is the best way of comparing loans?

An A.P.R is the most important factor to be considered while applying for a loan. Although there are some other factors too but still the A.P.R is the standard measure.

11.Do I have to clear my home loan by a certain age?

A mortgage is usually designed to finish no later than your normal retirement age. That age is taken as 65 for employed people (male and female) and 70 for the self-employed. Some lenders will consider a longer term if you have enough income after retirement.v

12. What can I use a personal loan for?

You can use a personal loan for anything you want, there are no restrictions. Maybe you need to reduce your monthly outgoings by paying off all your debts through debt consolidation loan. Or perhaps you would like to buy a new car or any asset. What about a loan for a holiday or for further studies. The choice is entirely yours...

13. What happens if I want to borrow more?

All you need to do is to compare all lonas & apply online.

14. Is it possible to apply for a loan online or over the phone?

Yes, you can apply online for a loan.

15. Can I reapply for the loan if I was rejected for the first time?

Yes you can reapply. We help you arrange lenders who may offer you loan even if you have been rejected for the first time. However it depends upon individual circumstances.

16.Are there any benefits of having a secured loan as opposed to an unsecured loan?

This is dependent on the terms of the loan. It is easier to obtain a secured loan particularly in cases of adverse credit as it is secured against your property. Generally, secured loans offer more flexibility in repayment terms and the most important factor is that the interest rate on secured loans is often lower than unsecured loans. But, there is a major risk involved with secured loans, that your property can be repossessed by the lender in case you fail to keep up with the repayments.

17. Must I occupy the residence I'm using as security?

You may or may not occupy the residence you plan to keep as security as it depends completely upon lenders terms and conditions and individual circumstances.

18. Can I get a loan on my home if it is for sale?

We cannot help you apply for loan on a home which is currently for sale.

19. What is the difference between a home equity loan and a home equity line of credit?

While both are considered second mortgages, with a home equity loan all funds will be paid at closing. A home equity line of credit provides you with a credit line that you can borrow against at any time within a set time limit and up to a maximum amount.

20. Can I remortgage to raise funds for anything I want?

Yes, you can use the funds raised by your remortgage to start a business, go on a holiday, buy a car, consolidate debts, and pay for cosmetic surgery or anything else really.

21. Are there any penalties for early repayment?

This will depend on the lender and the mortgage you choose. A personalised illustration will give you details of any early repayment charge.

22. I have a poor credit rating - can you help?

Yes, our lenders offer loans especially designed to help people who have had CCJ's, mortgage and/or loan arrears, and no proof of income or have been refused credit in the past. However, bad credit loans carry high rates of interest because of the high risk involved for the lenders. Also, it's easy to get a secured bad credit loan than an unsecured one.

23.How long can be the repayment duration?

It varies from lender to lender. Generally the repayment term extends between one to twenty-five years.

24. How does a repayment mortgage work?

With a repayment mortgage, each time you make a monthly repayment, you pay off some of the capital that you owe as well as some interest on the loan. This means at the end of the mortgage term, your mortgage is paid off and you own your home outright provided you have kept up your repayments in full throughout.

25. What is an interest only mortgage?

An interest only mortgage means that your monthly payments only repay the interest charged on the loan, the payments do not pay back any of the capital. This means that you will need to arrange a savings or investments scheme in order to repay your mortgage at the end of the term.

26. Will I need Life Assurance?

Although life assurance is not a requirement of the mortgage lender, most people take this protection in order that their mortgage is repaid should they die, which could prevent loved ones from losing their family home.

27. If I complete online loan application am I under any obligation?

The applicant is under no obligation to follow the complete loan process by filling up the online application form. At any point of time he/she can withdraw himself/herself from the loan process.The applicant is under no obligation to follow the complete loan process by filling up the online application form. At any point of time he/she can withdraw himself/herself from the loan process.

28. If I complete online loan application am I under any obligation?

The applicant is under no obligation to follow the complete loan process by filling up the online application form. At any point of time he/she can withdraw himself/herself from the loan process.

29. Is my application confidential?

Our website is governed under Data Protection Act. We do not use your information other than for the specified purposes. For more information read our Data Protection Message. Apply Now