Responsible lending
The duty lenders have to make sure a loan is suitable and affordable for you. It is a legal requirement under the CCCFA.
Responsible lending is the principle that a lender must only give you a loan you can actually afford and that suits your needs. It is a core duty under the CCCFA.
In practice, it means a lender should check your income and expenses, make sure the repayments fit your budget, and explain the loan clearly so you understand what you are agreeing to.
It protects you from being loaded up with debt you cannot handle. If a lender does not lend responsibly, they can face penalties.
This is why we ask for proof of income and details about your situation. It is not to catch you out, it is to match you with a loan that works for you. Every lender we refer to follows these rules. Get your fair rate.
See your repayments, then get a fair rate.
One application, one soft credit check, no obligation. We match you to the lender most likely to give you a fair go.