Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Lump Sum Reduction

What is a Lump Sum Reduction?

A Lump Sum Reduction is the term used if you wish to pay off a large part of your mortgage early. Be careful, always ask whether there is an Early Repayment Penalty before you do this. Any redemption penalties are likely to be tied to the length of time the agreement has been in place - so for example you may pay 5% of the balance in the first year then 4% in the second year and so forth. This is done to recoup money lost on potential interest charges which would have been paid over the agreed term now reduced by the early repayment.

An example of this would be if you have received a lump sum as part of your pension. You could use this amount to clear your existing mortgage and reduce your monthly outgoings and more importantly end the repayments which are subject to interest accrual.


Q: Will a lump sum reduction save me money?

A: Potentially, but that depends on whether early repayment penalties apply and if so, how much they would cost when compared to how much of your mortgage is left to pay off.

Jargon Buster

Use the links below and the resulting list of terms on the right to locate the term you are looking for. If you can't locate it, please get in touch.

A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z