Firstplus is a subsidiary of Barclays Bank which was created in the year 1997. It is based at Cardiff and has no other branches other than the UK. It has a Consumer Credit License because of which it can lend money after following certain guidelines. Firstplus is regulated by the Financial Services Authority for their general insurance business. It provides competitive products and services to its clients and is also constantly aiming to increase their UK market share for their homeowner loans. It has helped over 250,000 homeowners to take control of their finances.
There is a different method in which Firstplus operates. They do not provide loans to every client that comes to them. In fact whenever an individual approaches Firstplus for a homeowner loan, it first checks all the financial details of the person and based on the analysis of his situation do they recommend taking a loan or a certain type of loan. The loan can be applied for through their online process. They have loans of various amounts having payment terms ranging from five years to twenty-five years. The customer can choose these based on his requirements and repaying capacities.
Depending on these factors, variable interest rates are available. These loans can be used for any purpose. Another important feature of these loans is that, there is a payment protection plan offered, to guarantee the loan in case of any unpredictable circumstances do take place.
The conditions that an applicant must fulfill are:
• He/She has to be over 20 years of age.
• He/She has to be a UK citizen.
• He/She has to be a homeowner.
Apart from these conditions an applicant could be anyone from a self – employed person to a person with a bad credit. The same kind of dedication is shown to each and every Firstplus customer throughout the entire loan process.
To ensure that you get the best homeowner loans, please compare Firstplus with the rest of the UK financial sector, with regards to the various homeowner loan schemes. rates and requirements available.