when i top-up do i need to go through the process of guarantors etc again?
saz (5 mths ago)
i will be allowed to top-up my loan in october 2012, will i need to go throught the whole process again with the guarantor etc, or does it just carry on and also, is the top up, up to £5000 ontop of ur previous loan or added onto your previous loan to make £5000?
FLM Loans (5 mths ago)
Hi saz,
The top up application will go through the same process as the application for your current loan. So we will need to get in touch with you and your guarantor again and complete a new verbal contract with you both.
The amount you apply for will pay off your current balance first and you will receive the amount left over, for example, if your current balance is £2000 and you apply for a £5000 top up, then you will receive £3000 paid out to your guarantor's account.
Thanks