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TFS Loans Guarantor Hub Launched!!

by Steve Lee / July 19th, 2017

  Guarantor Hub Launched – a hub of information for our customers and their Guarantors     This week we launched our new Guarantor hub for applicants, customers and their Guarantors. It contains a lot of new information. We are hoping you will find this very useful, whether you are an applicant looking for a Guarantor, you are a customer who wants some additional information for your Guarantor, or you have been asked to be Guarantor for a TFS loan and you want to know what this actually involves.       Click here to visit it, or go to…

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TFS Loans Runner Up in Treating Customers Fairly Award

by Steve Lee / July 17th, 2017

  TFS Loans awarded Runner Up in 2017 Consumer Credit Awards…   Thank you to all our Customers who took the time to vote and give reviews for the Consumer Credit Awards. We are proud to announce that we were the runner up in the ‘Treating Customers Fairly’ category! This really means the world to us as these awards are voted for by customers and with competition from the likes of Amigo Loans, Bamboo Loans, Barclaycard, Capital One, Experian & MBNA, it makes the award all the more special. The award was announced at an awards ceremony in London, in…

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Top Money Saving Tips from the team at TFS

by Steve Lee / July 12th, 2017

  This week, the team at TFS has shared their top tips to save money:   Top Tip from Isla in Marketing: Write down the renewal dates of your fuel, telephone, mobile, TV subscriptions etc. on a calendar and every month check which services you need to renew. Go onto a comparison site (ideally two if you have time) and make sure your deal is still the best out there. If it isn’t, switch it. This keeps your monthly outgoings as low as possible.   Top Tip from Caroline in the Customer Call Centre: Book your holidays early. Nowadays airlines…

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Stop unwanted Charity solicitation

by Steve Lee / July 10th, 2017

  A free service launched, to stop unwanted Charity post, call, emails and text messages….   On 6th July 2017 the Fundraising Preference Service was launched. This allows you to go onto the FPS website (https://www.fundraisingregulator.org.uk/the-fundraising-preference-service/) and send a message stating that you do not want to hear either from any charities or you only want to hear from those charities that you select. This is a free service.     In a statement the Fundraising Regulator set out how the new service will work:   “The FPS will allow a member of the public to enter a charity’s name…

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Explaining Loan Jargon and Acronyms

by Steve Lee / June 28th, 2017

  In the world of finance we love to create new words, terms, abbreviations and acronyms and sometimes we’re not so great at explaining what these mean. To help you we’ve created a list of the most commonly used terms when you take out a loan and an easy explanation of what each term means:       APR APR stands for Annual Percentage Rate. This is the rate at which someone who borrows money is charged. It is calculated over a twelve month period and is shown as a percentage. The APR percentage represents the actual yearly cost of…

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How to make your home worth more for less…

by Steve Lee / June 21st, 2017

  From clearing your street of litter, to updating your front door, decluttering and mowing the lawn, it is possible to add thousands to the value of your house with a little bit of elbow grease and a small amount of money. First impressions count. If your street is covered with litter this can reduce the cost of your property by up to 12%, so it’s well worth donning a pair of heavy duty gloves and spending a couple of hours tidying it up. Alternatively give your local council a ring and report the levels of rubbish on the street…

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Why banks turn Borrowers away and what to do about it…

by Steve Lee / June 19th, 2017

  With banks criteria for lending becoming more stringent, increasing numbers of people are finding they have been rejected for a credit card or loan.   We have looked into the main reasons for this:       1 – The top reason for rejecting someone who applies for a loan or credit card is having a poor credit history. There can be many reasons for this including changes of circumstance, missed payments etc. At TFS Loans we don’t discriminate on the basis of credit history. We’ve reverted to a tried and tested formula of lending known as Guarantor lending….

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What happens when you apply for a TFS Guarantor Loan?

by Steve Lee / June 14th, 2017

  When you apply for a TFS Guarantor Loan, this is the process you and your Guarantor will go through. It can take less than 24 hours for the loan to be processed and paid out. The average time is 2 to 4 days.         STEP 1: Borrower fills in details online or via phone. You will be asked to give the name and phone number of the person who will be your Guarantor. STEP 2: One of our customer agents will phone your Guarantor to explain the process. We ask your Guarantor for some basic details…

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Questions to ask yourself before you become a Guarantor

by Steve Lee / June 13th, 2017

  Being a Guarantor on a TFS Guarantor Loan means you are helping someone with a poor credit score or no credit history, to access borrowing that they may not be able to obtain elsewhere.  There are a number of questions you should ask yourself before you agree to be someone’s Guarantor. We have outlined these below:         Q1: Why do they need a Guarantor and a Guarantor Loan? If you aren’t sure that they do and they haven’t explored other forms of lending, you should advise them to look at all their lending options before they…

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Who can be a Guarantor?

by Steve Lee / June 8th, 2017

  Being a Guarantor is a great way to help a friend or family member to take control of their finances and get back on track with their financial goals. However it is important that the Guarantor is confident that the Borrower will meet their regular monthly payment obligations so that the Guarantor is not left in a position where they have to cover a shortfall.     At TFS there are three things that we ask the Guarantor to be: A UK Homeowner – although the loan is not secure against your property. Have a good credit history. Have…

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