How does Bridge Finance Ltd determine how much I can borrow as a new customer?
We believe in responsible lending, so new customers typically start with a limit of up to £200. The actual amount offered will depend on your current financial situation. We carry out checks to ensure the loan remains affordable and manageable for you.
Can I apply if I have poor credit?
Yes. Every application is reviewed on an individual basis. We accept all credit backgrounds and will look at your affordability using other financial information. If your credit history is less than perfect, we may request the last 3 months of bank statements, which you can provide securely via online banking. This helps us make a fair and informed decision.
What is involved in the affordability check?
Our affordability assessment takes a close look at your income and expenses. You’ll be asked to provide documentation that supports the information you give us. This process ensures that any loan we offer is within your budget and won’t cause undue financial pressure.
How do repayments work?
Repayment frequency usually matches how often you receive income. We offer multiple convenient options:
Continuous Payment Authority (CPA): Recurring payments taken automatically from your debit card.
Phone payments: Our support team can take your payment by card over the phone.
Doorstep collections: For a more personal service, an assigned agent can visit your home regularly to collect cash or card payments. You’ll also receive text reminders before each due date.
Is it possible to pay off the loan early?
Absolutely. If you wish to settle your loan before the end of your agreement, contact us and we’ll provide a settlement figure. In some cases, you may be eligible for a rebate, which could reduce the total amount you pay.
Are there fees if I miss a repayment?
No. At Bridge Finance Ltd, we do not charge any late fees. If you anticipate a problem with a payment, let us know as early as possible so we can work with you. Communication is key. Missing payments will not incur penalties, but staying on schedule may help improve your credit record with us over time.
What if I change my mind after taking the loan?
You have a 14-day cooling-off period. If you decide the loan isn’t right for you, you can cancel the agreement by repaying the amount borrowed in full within those 14 days. After this period, interest will start to apply to the loan.