Frequently Asked Questions
1. Is CGN registered and regulated by a recognized authority and governing body?
Yes we are authorised by the FCA for consumer credit services.
Company Number 9041461
3. Will my credit rating affect whether my loan application will be successful or not?
Your credit score serves as an indicator of how well you manage your personal finances. Although (CGN) assesses your current ability to repay a loan, your credit score may affect your eligibility for a (CGN) loan.
4. Can paying on time improve my credit rating?
Creditors share information with credit reference firms such as Experian. Making repayments on time can help to improve your credit rating.
5. Can I apply for a loan if I’m on benefits / student finance?
You must pass an affordability check before you can qualify for a (CGN) loan. If you are in receipt of benefits or unemployed, your ability to borrow will be restricted. Students will need proof of student finance payment schedules.
6. If I’m on benefits / student finance, how can I produce a pay slip?
Produce a copy the letter you would have received from the DWP or Student Finance detailing the amount you receive and how often you receive the payments.
7. What if I haven’t got photo ID?
You will need either your valid passport or valid drivers licence as a form of ID to qualify for a (CGN) loan.
8. What if I haven’t got a bank account?
Without a UK bank account, (CGN) cannot offer you credit.
9. Can I use my Driver’s License as proof of Address?
No. We will only accept utility bills (Landline, Water, Electricity & Gas) as proof of address. Mobile phone bills are NOT accepted as proof of address.
10. What if I haven’t lived at my address for over 3 years?
Then you must have proof of your previous address. This may also affect the amount you’ll be able to borrow.
11. What is the maximum I can borrow as a first time customer?
All loans are subject to affordability checks. The maximum values serve as a guide only and are not representative of a successful application
Maximum £200.00 for persons on low income
Maximum £300.00 for part time workers
Maximum £500.00 for full time workers.
12. Can I pay you by cheque or cash?
Payments are made online via BACS or CHAPS or via telephone banking. You can make cash payments in branch at Santander however, we do not accept personal cheques
13. Are there fees for missing payments?
Yes; our fees are listed on the guidelines page and within all credit agreements. Do remember that missed or late payments can stay on your credit report for up to 6 years and may affect your ability to secure credit it future.
14. Do you offer PPI (Payment Protection Insurance) in case I lose my source of income?
NO. We do not offer PPI or any other substitute for PPI. We strongly advise that you make every effort to stay in control of your finances.
15. Can I delegate access to my account and personal information?
We do not encourage this however; in extreme circumstances we can deal with a representative of your choosing. For this to happen, we will need your instructions in writing or by phone where by the account holder will need to answer some security questions before access to the account can be delegated.
If you have any questions that are not covered by the above list, please do not hesitate to contact one of our advisors on 020 8127 5021