Frequently Asked Questions
General
A. Yes. Exclusive Loan Service is based in Woking, Surrey and was established in the UK in 2010. We are regulated by the Financial Conduct Authority for our second charge loans secured on residential property and unsecured personal loans. Click on “About Us” to find out more about Exclusive Loan Service.
A. Exclusive Loan Service has a range of products to suit many of our clients with different circumstances. We will be able to tell you if we have a suitable product once you have completed our online application for a personal loan or go through a decision in principle process with a Exclusive Loan Service customer service adviser, for one of our second business loans.
A. No. Exclusive Loan Service only offers loans and mortgages where you repay a portion of the capital and interest each month. This ensures the loan you take out with us is repaid at the end of the term.
A. Firstly write to us at the address below. If we cannot resolve your complaint, you may have the right to refer your complaint to the Financial Ombudsman Service. The Financial Ombudsman can only consider complaints from eligible complainants. You can write to the Ombudsman at Exchange Tower, London, E14 9SR or visit their website at financial-ombudsman.org.uk.
Unregulated product customers will not be able to escalate their complaint to the Financial Ombudsman Service.
A. The Exclusive Loan Service Base Rate has been introduced to provide greater transparency to our customers around rate changes in our variable interest rate products and to better match the cost structure of our funding. More information can be found on the Exclusive Loan Service Base Rate page
A. We use a combination of Experian, Equifax and Transunion as our credit reference agencies (CRAs). Their details are below.
Equifax Limited, Credit File Advice Service, PO Box 1140, Bradford, BD1 5US.
www.equifax.co.uk Tel: 0800 014 2955 or 0333 321 4043
Transunion International UK Ltd, One Park Lane, Leeds, West Yorkshire, LS3 1EP. www.transunion.co.uk/ Tel: 0330 024 7574
Experian Ltd, Consumer Help Service, PO Box 9000, Nottingham, NG80 7WF
www.experian.co.uk Tel: 0800 013 8888
Business Loans
A. A second business loan is secured against your home in the same way as your first mortgage. Your property or home may be repossessed if you do not keep up repayments on your mortgage.
A. You can apply for a Exclusive Loan Service second business loan if:
i. You already have a first charge mortgage on your home
ii. Hold a UK Bank account and receive income in British pounds sterling
iii. Are over 21 years old
iv. Are a UK resident with a residential property in England, Wales or Scotland
All loan applications are subject to status.
A. Yes. It takes longer to arrange a loan secured against your home because we take extra care to ensure you can meet all your commitments and we have to consider the suitability of your property as well as your personal circumstances. On average, we take 3 – 4 weeks to complete our second business loans.
A. The outstanding loan balance is on your annual statement. If this is out of date or you don’t have one, please contact our customer services team on +44 745 223 3170.
A. Some of our secured business loans do have early repayment charges and you will also be required to give us 28 days’ notice if you wish to repay your loan early. This is explained in the “early repayment” section of your mortgage offer.
A. Your Exclusive Loan Service second charge mortgage is not portable. It will be repaid from the proceeds of the sale of your property, but you may be eligible for a new loan on your next property. You should make an enquiry by contacting us to discuss your new loan requirements with our customer services team on +44 745 223 3170.
A. Everyone’s circumstances can change, so we will assess your current situation when you call our customer services team on +44 745 223 3170. If you are having difficulty paying your loan you should do this as soon as you can. Once we know more about your change in circumstances, we will agree the best course of action with you.
Personal Loans
A. You can apply for a Exclusive Loan Service personal loan if:
i. You are a homeowner
ii. Hold a UK bank account and receive income in British pounds sterling
iii. Are over 21 years old
iv. Are a UK resident – (personal loans are available to customers in England and Wales)
All loan applications are subject to status.
A. Yes. You have the right to repay all or part of the outstanding balance of your Exclusive Loan Service personal loan at any time. Your early settlement figure will include any compensation we are allowed under section 95A of the Consumer Credit Act 1974.
A. The outstanding loan balance is on your annual statement. If this is out of date or you don’t have one, please contact our customer services team on +44 745 223 3170.
A. You should contact us as soon as possible with your new address details and your loan account number. You should always let us know when any of your personal details change.
A. Yes, when you are approved for a Exclusive Loan Service personal loan we will advance the money direct to your bank account.
A. Once you have completed our online application process, your loan will be sent for approval. If we require additional information we will ask for that before we approve the loan. As soon as your loan is approved we will send you a message and pay the money into your account, normally within 24 hours.
A. Our application process is all online and we communicate with you via your email address. You will not be able to proceed without one.
A. It is a requirement for you to be a homeowner for a Exclusive Loan Service personal loan.