Will my personal details and application information be kept confidential?
Yes. We will never sell or pass on any of our clients’ information for marketing purposes.
Why use Dolphin as a broker?
Our team have many years of experience, access to a wide range of loan facilities and efficient processing systems, allowing your loan to be set up quickly and easily!
Do you do credit checks?
Yes, when you apply for a loan, the lender will need to know your credit history before they accept your loan application. This is because it can affect the loan ratings offered to you, or, in some cases they may refuse someone with a bad credit rating.
What is a reflection period?
Once you have received a formal loan offer from the lender, you will be given 7 days to decide whether this is the right offer for you. You don’t have to take the whole 7 days if you are sure you want to confirm the offer, but it is there if you need it. You won’t be contacted by the lender within this time.
What is a payment holiday?
If you are going through a time where you are struggling to make payments, your lender may grant you a payment holiday (depending on the type of loan and the agreed terms). This will be an agreed length of time where you won’t have to make any payments. It is helpful in the short-term, just be aware that this will make the loan take longer to pay off and you will pay more overall interest.
What does Loan to Value (LTV) mean?
Loan to Value is an expression used by lenders to determine the value of a loan in comparison to the amount the property is worth (in cases where the loan is secured against a property). For example, if your property was worth £200,000 and you applied for a loan worth £100,000- the loan would be 50% LTV.
What is an APR?
Annual Percentage Rate (APR) is a figure that illustrates the cost of borrowing for a year which all lenders are required to disclose. It will show the interest rates and include all fees and costs, which makes a much fairer comparison compared to looking at the interest rates alone.
See also Glossary of Financial Terms