Secured loans FAQs
How do I make my regular payments?
All loan repayments must be made monthly by Direct Debit, so you will need a bank account.
How often will I make payments?
It is a term in your loan agreement to pay monthly, by direct debit. You may choose to make your loan payments on any regular date between the 1st and the 28th of the month, but it would be beneficial to make your payments on the 1st of each month because of the way interest is calculated.
Can I change my payment date?
Yes - if you wish to change your payment date then please contact us by telephone or email.
How do I make a card payment?
You can make a card payment by calling us.
Can I make a card payment?
If there is something preventing you from making a payment on time by Direct Debit, then you can make a card payment. This is a short term solution until you are able to continue making your payments in line with your loan agreement.
I can't make my repayments - what can I do?
Please call us to discuss your situation. We are understanding and willing to discuss this with you. We would prefer you to make a token payment towards your loan rather than stop paying. If you don't talk to us we can't help you, and may have to take action to recover the loan.
Can I repay my loan back in full?
Yes – No problem! How you can do this will depend on the type of loan agreement that you have. Please contact us so that we can check your agreement type to give you more information.
How can I contact you about my payments?
I am struggling to pay my equity loan or mortgage because of Coronavirus can you help me?
Yes if you are concerned about the impact that Coronavirus may have on your loan with us, or are experiencing financial difficulties due to the ongoing effects of the Coronavirus pandemic, please let us know as soon as possible by calling us on 01772 666100 or by emailing email@example.com and we’ll get back to you as soon as possible.
It is important for us to understand how your financial situation has been affected so we can work with you to find the best solution. We are still able to provide support, and we can offer a range of options which may help, including payment deferrals or reductions or by agreeing an affordable repayment plan. Please be aware that this may not be the best option for your circumstances as any payment deferrals or reductions will result in your loan balance being higher than it normally would be and you will incur more interest as a result of this. The deferred payments will need to be repaid by way of increased monthly payments as soon as it is possible to reduce the interest being charged. The deferred or reduced payments will not adversely affect your credit score for the duration of your agreement.
How long will you keep my data on file for?
We will only keep your data for as long as is necessary, in line with data privacy principles. This depends on what stage your application is at with us:
Your application has been cancelled:We will keep your data for 6 months
Your application has been declined:
We will keep your data for 12 months
Your loan has been repaid/closed:
We will keep your data for a further 10 years after your application has been repaid/closed
How do you use information about me and how do you protect my privacy?
Places for People Homes Ltd is committed to protecting your privacy when you use our services.
Our Privacy Notice explains how we use information about you and how we protect your privacy.
We have a Data Protection Officer who makes sure we respect your rights and follow the law. If you have any concerns or questions about how we look after your personal information, please email the Data Protection Officer at firstname.lastname@example.org.
How do I complain
We want you to be happy with the services you receive and we want to know when we get things right. We want to improve on what we do by building on our successes and learning from our mistakes by:
- Listening to your feedback, good or bad
- Dealing with complaints efficiently and effectively
- Keeping you up-to-date with progress
- Being honest and open about the process
In line with our equality and diversity policy, we will ensure that the most urgent consideration is given to complaints relating to harassment and discrimination.
If we fail on our promises, you may want to make a complaint, this leaflet tells you how to do it.
How to complain:
- By phone on 01772 666 100
- By sending a letter to the address below
- Emailing your complaints to email@example.com
If you can’t do this yourself, ask a friend or relative to complain for you.
- We want to resolve your complaint straightaway and, in the majority of cases, the first person you speak to will usually be able to resolve things for you, after which you will receive a letter confirming the resolution of your complaint. If we’ve not been able to do that by the end of the third business day after we’ve received your complaint, we’ll write to you to acknowledge your complaint and tell you who is dealing with it.
- We will then keep you up to date while we are investigating your complaint, until we provide you with a formal resolution letter.
Alternatively, after receiving a summary resolution communication, you may exercise your right to refer your complaint to the Financial Ombudsman Service. Typically you have six months from the date of our summary resolution communication to do this.
The Financial Ombudsman Service
0800 0 234 567
Places for People Secured Loans
4 The Pavilions
01772 666 100