FAQ

Gratify your curiosity for different loan products offered by loans11. To clear all your doubts regarding loans, we are giving the answers to some of your most frequently asked questions-

1. How long will it take for my loan to get approved?
   You can apply for personal loans 24X7. Once you fill in the simple online application form, our verification officer will contact you at the earliest.
2. What interest rate does loans11 offer on secured and unsecured loans?
   The APR charged on secured and unsecured loans depends on the borrower's credit profile. Better the credit score lower the APR. Also APR for secured loans is less in comparison to unsecured loans.
3. Can I get an unsecured loan, even if am a homeowner?
   Yes! Anybody who is above 18 and a UK citizen can avail an unsecured loan. Even if you are a homeowner and don't want to risk your home, you can meet your short term financial requirements with unsecured loans.
4. Is my personal and financial information secure?
   All your personal and credit information is safe and secure with us as we are registered with the Data Protection Act Reg.No. Z8587566.
5. Do you offer repayment holidays?
   Yes, we do offer repayment holidays in case of secured loans. There is no penalty against this deferral.
6. Is there any proof of income required?
   No proof of income is required in case of self employed borrowers for secured loan. We accept self-attested income documents as well.
7. Can I avail loans even if am a bankrupt?
   Loans11 provides secured loans to bankrupts to pay off bankruptcy debts. Discharged bankrupts can avail secured loans from us as well.
8. How much can I borrow?
   Secured loans- £5000 to £250,000
   Unsecured loans- £500 to £25,000
9. Can I refinance my existing loans with loans11?
   Loans11 can help you refinance your loan at a lower rate of interest with added benefits (subject to the lenders' policies and borrower's credit profile).
10. Do loans11 charge anything for evaluating the borrower's credit score?
    No, customer evaluation is totally free with loans11. Our loans officers will evaluate your credit score.
11. What is the maximum loan term?
    Secured loans- 25 years
    Unsecured loans- 10 years
12. I am 79 years old. Can I avail a loan?
    Yes, you can avail a secured loan with loans11. We provide loans up to the age of 85 years.
13. I don't have enough equity in my house. What shall I do?
    Our lenders provide loan up to 125% of your equity (subject to lender's policies).