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Responsible Lending


What is an instalment loan?

An instalment loan enables you to access money when you are short on funds. This is meant to be a short term solution only. If you are concerned about your finances, or are in need of a long term solution, please seek the advice of a credit counselor.

Is an instalment loan for me?

If used responsibly, an instalment loan can be a great tool to provide assistance during a time of financial need. However, if not used responsibly this type of loan could end up causing an even bigger financial burden. Please refer to the chart below for some examples:

Responsible Instalment Loan UseInappropriate Instalment Loan Use
To cover unexpected expensesTo routinely cover your living expenses
To relieve a temporary cash shortageFor extra spending money
To avoid being overdrawn on your bank and incurring bank chargesTo pay off another instalment loan

Please consider your overall financial situation and circumstances to ensure that an instalment loan will be a short term solution to your financial problem. If you find yourself needing more money every time you repay your loan, this may not be the right option for you.

What can I do to ensure I use my instalment loan responsibly?

Never use an instalment loan for a long-term financial challenge.

Never borrow an amount that you will not be able to repay on your repayment schedule.

Never borrow money from a company that doesn't practice responsible lending.

Never borrow money unless you feel sure that you will be able to pay it back. Otherwise you may incur arrears charges as well as fees from your bank.

If you find that you are taking another loan immediately after you repay the previous one or are rolling over or refinancing loans then you should seek debt advice from one of the agencies listed here. SwiftSterling.co.uk strongly advises against rollovers for the same reason.

Ask questions. If there is any part of the process or fees involved with getting a loan that you are still not clear on please to chat with a customer care agent.

How does SwiftSterling.co.uk practice responsible lending?

Your credit limit will be based on your disposable income to ensure that you're not borrowing more than you can repay.

SwiftSterling.co.uk sends an automated reminder email three days prior to each scheduled payment. This is to remind you of the pending payment in an effort for you to avoid potential charges from the bank.

When requesting a loan, you can be assured there are no hidden fees or costs.

At SwiftSterling.co.uk we take the utmost pride in ensuring your information is always kept completely confidential. SwiftSterling.co.uk provides customer service representatives available to answer any questions or concerns throughout and after the entire loaning process.

Warning: Late repayment can cause you serious money problems.
For help, go to moneyadviceservice.org.uk.