rate change

Can I request to change or reduce my monthly repayment amount?

A request for a possible extension of the loan term to a maximum of 25 years is subject to an application process^†. Please contact us to discuss this.

What is the difference between a fixed and variable rate?

The interest rate on your loan is variable. This means that your rate could go up or down.

Do you offer a Fixed Rate loan?

No, all of our loans operate on a variable rate.

When can I expect rates to change again?

We cannot predict this. Interest rates are reviewed periodically and any future changes will be advised in line with the terms and conditions of the loan, which states that the rate is variable. We will always advise our customers as soon as possible of a rate increase or decrease that affects their monthly repayments.

Was my rate on application a low 'start-up' rate?

The interest rate applicable at the time of your application reflected your personal circumstances at that time and as the rate is variable it can alter as outlined in the terms and conditions.

I am experiencing some financial difficulties, how can you help?

As a Firstplus Homeowner Loan is secured against your property, it’s important to make sure that if you do come up against any difficulties, your monthly secured loan repayments are prioritised and maintained. If you are currently experiencing any financial difficulties or have any concerns about your future ability to repay your Homeowner Loan, then please contact us on 02920 196690*.

Can I settle my loan?

Please be aware that there would be an early settlement fee in line with your terms and conditions. You can request a settlement figure by contacting us.