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Why am I being charged an arrangement fee?

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TitleWhy am I being charged an arrangement fee?

The arrangement fee is to help us cover the costs we incur when setting up your loan. 

The arrangement fee is included in the total amount payable. This means that you won’t need to pay it separately - instead it’s added to your loan balance and paid via your first few monthly repayments. The total number of repayments required to pay the arrangement fee is dependent on the amount you’ve borrowed, your APR and your loan term. 

You’ll only start to repay the amount you’ve borrowed (the capital) once you’ve paid the 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%.

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