Close Finance Jersey
Good:
They can help you rebuild your credit history if you struggled in the past
Bad:
This loan is only available to residents of Jersey
Verdict:
Only for residents of Jersey - 8% is a flat rate, their actual interest rate will be higher than that so get a quote before you commit to the loan
Close Finance offer personal loans for residents of Jersey. You can borrow between £1000 upwards, which you can pay back over 6 months to 5 years. You can complete a quick application within minutes on their website and a representative will call you as soon as they can (or whenever you choose).
To apply, figure out how much money you need or how much money you can afford to borrow. You can apply online via their website. The application form should only take a couple of minutes. Or, you can request a call back and go through the application. Once they receive your application, they will contact you by phone or email with a quote. If you want to accept it, they may ask you to visit one of their offices to meet a representative. New customers need to bring proof of ID, a recent bank statement and/or a recent pay slip. If you have finance elsewhere, you need to provide documents detailing these. Once they have checked all of your documentation, they will contact you again within 24 hours informing you of their decision.
If you are approved, you need to go back to their office to sign the documents. The funds will then be transferred into your bank account (which can take up to 3 days).
Loan Calculator (Representative 8%APR)
Loan Amount £
Loan Term months
Monthly Repayment
Total Repayment
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Very happy with the service,took me 2 days to get the go ahead to buy a small business ,the person who dealt with me (MF) was very professional,relaxed and polite ,i have recommended him and Close FInance Jersey to several friends and business colleagues,if you are reading this make sure you shop around for rates though and see what they can offer you
Originally took out a loan for £10k early 2009 and in September of that year I unfortunately lost my job. The person that sold me the loan asked if I wanted PPI to which I replied “Yes, just in-case I lose my job,” he simply said ok and got the papers drawn up. Knowing full well that I would not be covered if I were to lose my job. I was under the impression that the PPI I purchased with the loan would cover in the even of losing my job........It did not and I will be putting in a claim for mis-sold PPI. I finally got back in to work but in a much less paid role and with the help of the local CAB I managed to get a lower monthly repayment that I could just afford. All the time this was going on, all I had from Close Finance were threatening letters & calls. March this year I started a new job which is much better paid, subsequently I started paying the full monthly payment again as I could now afford to. All the time I had been paying a reduced repayment I had been racking up a large amount of arrears and Late Payment interest (LPi) which I was un-aware of till then. Close Finance suggested that I re-mortgage my loan and that in doing this it would help me dramatically. Their 'advice' or 'offer' was to re-mortgage over 5 years and the total repayment would be just under £10k which is what I borrowed originally! Meaning that by the end of the new 5 year period I would have paid over £7k in interest to them - GREAT ADVICE! I will now be starting to pay back double repayments (over £700pm) to avoid Close Finance taking advantage. Overall I have found this company to be misleading and customer service poor! AVOID AT ALL COSTS, OTHERWISE IT WILL COST YOU DEARLY!
Loans up to 5 years
Next day - £30 extra charge
- You must be between 18 and 65 years of age
- You must be a resident of Jersey
- You must have an email address
- You need to have 3 years address history
- If your credit history isn't satisfactory, they may ask you to sign a guarantor to the loan which means they will make your repayments if you can't
- You don't need to have a good credit history but you must be in a good financial state currently
