BetterBorrow is part of Chetwood Financial Limited, company number 09964966, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 740551. Authorisation can be checked on the Financial Services Register at www.fca.org.uk.
BetterBorrow launched in 2020 to provide a quick and simple way to borrow for our customers. BetterBorrow is part of Chetwood Financial Limited, company number 09964966, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 740551. Authorisation can be checked on the Financial Services Register at www.fca.org.uk. You can also find out more about Chetwood, its products and what we stand for.
If you have a complaint we want to hear it, so please get in touch with us. We'll review your feedback and come back to you as soon as possible.
If you're not satisfied with our response to your complaint, you can refer your complaint to the Financial Ombudsman Service (FOS). Please note, that the FOS will not look at a complaint until it has been raised with BetterBorrow and we've been given a reasonable time to respond.
Get in touch to find out what data we hold about you.
Our quick and simple loans have all been snapped up, so we're no longer accepting applications.
There are three Credit Reference Agencies (CRAs) in the UK - Equifax, Experian and TransUnion. All three are dedicated to collecting information on your financial behaviour and how it has impacted your score. CRAs must share your credit report with you if you request it. It’s good practice to look at all of your credit scores on a regular basis so you can keep an eye on any changes. They all have different scores but this is completely normal. You can get to know your credit score better with free credit reports at ClearScore, TotallyMoney, Intuit Credit Karma and Experian.
We have systems that protect our customers and ourselves against fraud and other crime. We will share your personal information from your application with fraud prevention agencies. If you provide false or inaccurate information and fraud is identified, details of this fraud will be passed to these agencies. Law enforcement agencies may access and use this information. We and other organisations may also access and use this information to prevent fraud and money laundering, for example, when:
If you're aware of any change in your current circumstances and think you may struggle to make your next repayment, please get in touch with us by calling 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales) so we can help you.
There are three Credit Reference Agencies (CRAs) in the UK - Equifax, Experian and TransUnion. They all have different scores but this is completely normal. All three are dedicated to collecting information on your financial behaviour and how it has impacted your score. It’s good practice to look at all of your credit scores on a regular basis so you can keep an eye on any changes. You can get to know your credit score better with free credit reports using the links below.
Your annual statement will be sent to you by post to the address we hold on file.
If you need copies, please contact us and we’ll send them to you by post.
To obtain information about your Direct Debit, call our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
If you're thinking about closing your loan early, it's important that you get an early settlement quote first. You can get a quote by calling our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales). We may charge an early settlement fee if you choose to close your loan early. How we calculate this is determined by the Consumer Credit (Early Settlement) Regulations 2004 and is summarised below: If your original loan term is 12 months or less, we'll charge up to 28 days interest and include this in your settlement quote. If your original loan term is over 12 months, we'll charge up to 58 days interest and include this in your settlement quote. This means that we'll give you a settlement quote which is your latest outstanding balance, any daily interest due to be applied, plus the equivalent of one or two months' interest as an early settlement fee dependent on the repayment term of your original loan agreement. Your quote will be valid for 30 days. If you get a quote to settle your loan, and your next repayment is due within the next three working days, we won't be able to cancel your Direct Debit in time. So, if you were to settle your loan, you'd effectively overpay your account. Don't worry - we'll refund any overpayments within 10 days. If you'd prefer this not to happen, we recommend waiting until 10 days after your next repayment due date to allow for this payment to clear before requesting your early settlement quote. Closing your loan early will reduce the amount of interest you pay overall.
If you're struggling to make your next repayment, or have already missed a repayment, don't panic. It's important that you get in touch with us straight away by calling 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales) so that we can help. We'll work with you to understand your situation and offer a tailored solution to help get things back on track.
Rebates are given in certain circumstances such as when you settle your loan early, or make an overpayment early in your loan term. However, this depends on how early you do this. If you haven’t received a rebate it means that you’ve already repaid your arrangement fee in full or aren’t eligible for a rebate because you’re in arrears on your loan.
Arrangement fee rebates are shown in your Statements and on your Early Settlement Quote.
Representative Example: 27.3% APR Representative based on a loan of £5,000, repayable over 42 months at an interest of 21.3% pa (fixed). Monthly repayment of £178.12. Total amount payable £7,840.93 which includes an arrangement fee of £400.00. Our representative APR applies to loans from £1,000 to £12,000, for terms of 12-60 months.
Our personalised APRs range from 9.2% to 39.8%.
Our customers aren't able to borrow more on top of their existing loan. If you need some extra support with your loan repayments or would like to chat to us about your loan in general, get in touch with us so we can help.
Rebates are given to customers to repay a proportion of the arrangement fee we charge when setting up your loan. Rebates are given in certain circumstances such as when you settle your loan early, or make an overpayment early in your loan term. However, this depends on how early you do this.
Rebates for Early Settlement
If you settle your loan early, your rebate will include an amount equivalent to any arrangement fee left to be repaid. This is calculated against the deferred settlement date, which is:
Rebates for Overpayments
You may receive a rebate when you make an overpayment while you’re still repaying the arrangement fee. The amount of rebate will be dependent on the value of your overpayment and the amount of the arrangement fee left to be repaid.
Arrangement fee rebates are shown in your Statements and on your Early Settlement Quote.
All arrangement fee rebates will be applied directly to your loan balance.
Please be aware that you will not receive an arrangement fee rebate if you are in arrears, or if you have already repaid your arrangement fee in full.
Representative Example: 27.3% APR Representative based on a loan of £5,000, repayable over 42 months at an interest of 21.3% pa (fixed). Monthly repayment of £178.12. Total amount payable £7,840.93 which includes an arrangement fee of £400.00. Our representative APR applies to loans from £1,000 to £12,000, for terms of 12-60 months.
Our personalised APRs range from 9.2% to 39.8%.
You can get your early settlement quote by calling our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
To find out if your loan has closed, get in touch with us by calling 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
If you need to put someone else in control of your account, for example, because you lack mental capacity to look after your own financial affairs, please get in touch with us. We’ll need a copy of your registration of Power of Attorney.
You can change your address details by calling our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales). If you've recently moved house, we'd suggest waiting 6-8 weeks to change your address details so your information is updated and you're registered to vote on the Electoral Register. Not being registered to vote can have a negative impact on your credit score. Please be aware that we'll carry out a soft search when updating your address. This is so we can be confident that the change is secure and we can protect against fraud. This search will only be visible on your credit file to you and won't impact your credit score.
If your usual monthly repayment date was due to be taken three working days or less after the date you settled your loan, we wouldn't have been able to cancel your Direct Debit in time. This means that your regular repayment would've been taken as usual but we'll refund the money back to you as soon as we can.
Get in touch if you'd like to speak to us about this.
To change your phone number, get in touch with us by calling 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
To find out how much you have left to pay on my loan, get in touch with us by calling 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
You can change your personal details by calling our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
To find out what your loan APR is, get in touch with us by calling 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
To find out how many loan repayments you have left to make, call our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
You can make overpayments to reduce the interest you pay on your loan at any time. Once you've made your payment, your account will be updated within a few days. To make an overpayment, please call our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
If you're struggling to make your next repayment, or have already missed a repayment, don't panic. It's important that you get in touch with us straight away so that we can help. We'll work with you to understand your situation and offer solutions, such as a temporary reduced payment plan. If you're able to make your loan repayment, call our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
If you'd like to change the bank account your monthly repayments are taken from by calling our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales). As a responsible lender, it's important that we can verify your new details. If we can't, you won't be able to use a different bank account and we'll continue to take your loan repayments from the bank account we verified when you took out the loan with us. If you'll struggle to make your repayments from this account, get in touch with us so we can help.
Changing your bank details won't automatically update your Direct Debit. If you need to change your Direct Debit, get in touch with us.
If you'd like to change the bank account your monthly repayments are taken from by calling our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales). As a responsible lender, it's important that we can verify your new details. If we can't, you won't be able to use a different bank account and we'll continue to take your loan repayments from the bank account we verified when you took out the loan with us. If you'll struggle to make your repayments from this account, get in touch with us so we can help.
Changing your bank details won't automatically update your Direct Debit. If you need to change your Direct Debit, get in touch with us.
If you've recently missed a repayment, don't panic. You can still make your payment quickly and simply by calling our team on 0345 840 0282 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
We recommend you pick a date close to the day you get paid as most of our customers find this easier to manage. If you feel you really need to change your repayment date, please get in touch with us.
We can work with you to make sure this doesn’t happen so if you feel you’d benefit from additional support, we’ll give you a call to understand your situation and help you find a solution that’s right for you. Get in touch with us and we’ll help you get things back on track.
At BetterBorrow we won't charge you a fee if you miss a loan repayment. However, missing a repayment will result in you paying additional interest on your loan, and will have a negative impact on your credit score. If you’re struggling to make your next repayment, or have already missed a repayment, don’t panic. Get in touch with us so that we can help you.
Email or chat to one of our helpful experts now.