Do you have to contact the guarantor for a top up loan?
laura.q (1 year ago)
We have had our loan for 12 mths and have been offered a top up of up to £5000. we have never missed a payment and would conside the top up loan. we need to know whow this works. do we still need the guarantor? does thye guarantor get contact about the top up?
FLM Loans (7 mths ago)
Your loan top-up will form a completely new agreement. We will therefore need both you and your guarantor to sign your top-up agreement and will need to speak to both of you before we pay out your loan.
Whether you're using the same guarantor or a new one, you can top-up to £5000.
You'll know when you're eligible for a top-up because the link will be available when you log into your page.
Comments (6)
FLM Loans (9 mths ago)
It's exactly the same process as it is with a new loan. We still pay the funds into their account after completing a verbal contract with them first.
ricky (9 mths ago)
What will the payment be for a loan of £5000 - I have the £3000 loan just now with you and the payment is around £137 something.
Im considering taking a top up when I am able to, 1st July I think? but was wondering what the payment would be on this? Thanks
FLM Loans (9 mths ago)
It depends on how long you decide to take your loan over. Most people decide to take it over a 5 year period in which case your repayments would be £180.66 per month.
huge67 (5 mths ago)
Can the loan be increased without my guarantors permission?
FLM Loans (5 mths ago)
A top-up is essentially a completely new loan. Both you and your guarantor have to sign a new agreement form and a caseworker ill need to talk to you both before the top up is paid out. The top us is also paid into the guarantor's account, as before.
debra (9 mths ago)
Hi, if i use the same guarantor for a top up does it still have to go into there account after speaking to them etc.
thanks