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The UK has hundreds of different finance lenders, and between them they
offer a large array
of different finance and secured loan products.
This makes finding the right finance a difficult and
time-consuming job. And if you make the wrong choice, it could be a costly mistake.
Here at Divadani Finance, we work with finance brokers who can arrange finance and secured loans from a
wide range of different finance lenders, rather than being tied to offering the
finance of just one bank or building society. This means they work on your
behalf, not the lender's, and can search through lots of different lenders and
finance products to find the best finance or secured loan for your individual
circumstances.
The Divadani Finance website can help you find a specialist
finance broker who will try to find you the right finance or secured loan solution,
potentially saving you thousands of pounds over the lifetime of your finance.
A full range of finance and secured loan products is available, including finance for people with credit problems.
A number of finance and secured loan deals are only available through specialist
finance brokers, so if you want to get the best possible finance
just complete our enquiry form and we will put you in touch with a professional and experienced
finance broker.
FINANCE GLOSSARY
Arrangement Fee
A fee which is sometimes payable to the finance lender when you opt for a special deal, such as a capped, discounted, or fixed rate finance.
Base Rate Tracker Finance
See Tracker Finance.
Capital & Interest Finance
See Repayment Finance.
Capped Rate Finance
Finance where the interest rate is capped at a certain level for a set number of years. The interest rate can go up and down, but is
guaranteed not to exceed this level during the capped rate period.
Cashback Finance
Finance which gives you a cash lump sum on completion.
Discounted Rate Finance
Finance where you get a discount on the interest rate during the initial special offer period.
Early Repayment Penalty
See Redemption Penalties.
Fixed Rate Finance
During the fixed rate period, the interest rate on this type of finance stays the same, regardless of changes in the Bank of
England base rate. This means your monthly finance repayments are the same each month even if interest rates go up or down.
Flexible Finance
Flexible finance lets you to make overpayments and take payment holidays. These can be especially attractive
for self-employed borrowers whose income may fluctuate throughout the year.
Redemption Penalties
If you repay your finance early, you will sometimes have to pay a redemption penalty to the finance lender.
Repayment Finance
With repayment finance, part of the amount you pay each month covers the interest on the loan and part goes towards repaying the finance capital.
Standard Variable Rate finance
The interest rate on standard variable rate (SVR) finance can go up or down during the course of the loan. Sometimes, the rate will remain unchanged for months at a time, but at other times it may fluctuate from one month to the next. The SVR charged by finance lenders is determined mainly by the Bank of England base rate, which is reviewed once a month. When the Bank of England changes the Base Rate, finance lenders will usually (but not always) adjust their SVR up or down accordingly.
Tracker Finance
When you have tracker finance (also known as a base rate tracker finance) the interest rate is guaranteed to move up and down in line with the Bank of England base rate. Consequently, it will always be a set number of percentage points above (or sometimes below) the Bank of England's base rate.
