LOANS

We can arrange any amount,
£5,000 to £75,000
over any term 3 - 25 years,
to suit your budget.
Loans are secured on your home

Apply Now for a Low Cost Secured Any Purpose Loan from Marlborough Loans

Marlborough Loans is a licensed credit broker. Consumer Credit License Number 442215.

Payment Protection

Our optional payment protection insurance gives you and your dependants additional piece of mind if the unexpected were to happen. Should you find yourself involuntarily unemployed or off work due to an accident or ill health, payment protection insurance can help ensure that your loan repayments are one less thing to worry about.

Even if your employer still pays you while you are unable to work you will normally still be eligible to claim on the payment protection insurance, leaving your income free to cover other expenses during what will be, undoubtedly, a very difficult time. Please bear in mind that your employer may reduce your pay after a prolonged period of absence. You may also find that any usual overtime, commissions or bonuses are not paid.

What would I be covered for?

The policy will cover you (subject to terms and conditions) for life, accident, sickness and involuntary unemployment.

What cover is available?

Cover is available for either the main wage earner or in the case of joint applications, both applicants. The maximum term of the policy is five years.

Am I eligible to take out optional payment protection?

To be eligible for the payment protection insurance you will need to be:

Named on the credit agreement.
Over the age of 18 when the policy commences and under the age of 65 when the policy expires.
Living in the United Kingdom.
Either employed or self-employed, working for a minimum of 16 hours per week and not currently off work due to ill health.
Unaware of any impending unemployment or, if self employed, unaware of potential failure of the business.

What is not covered under the payment protection plan?

Listed below are the main exemptions and limitations of the cover, this is not an exhaustive list and you will be provided with further details prior to purchasing a policy:

You cannot claim for unemployment if the unemployment is in any way voluntary or wilful or if you either knew or had reason to believe that you would become unemployed when the policy commenced.
You will not be able to claim for accident, sickness, or unemployment in respect of self inflicted injury, normal pregnancy, being under the influence of alcohol or non-prescribed drugs, mental or nervous disorders; or conditions of a psycho-neurotic origin , unless under the continuing care of a consultant psychiatrist.
Claims arising from pre-existing medical conditions will not be covered. If you have a sickness, disease, condition, or injury from which you have suffered or for which you have consulted or been treated by a registered medical practitioner in the 12 months prior to the commencement of the insurance, then that particular condition, or any claim attributable to it is excluded, until you have been clear of it for a continuous 24 month period prior to the commencement of the claim.
Death resulting from AIDS or infection by HIV; suicide or intentionally self inflicted injury; your consumption of alcohol or drugs, or a pre-existing medical condition is not covered under the policy.
The maximum outstanding balance payment in the event of death is £75,000.
Benefits will only continue to be paid for the maximum period(s) noted within the policy summary and policy document.
The insurance is for a maximum duration of five years, all benefits payable under the policy will cease after five years.

I am self employed can I still take out payment protection insurance?

Self employed applicants are still able to take out an optional payment protection insurance policy. Should a self employed applicant need to claim against the policy for involuntary unemployment the qualifying criterion is different to that for employed applicants. Benefit is payable on the total cessation of your business as notified to the Inland Revenue and confirmed by your Qualified Accountant and as a result of financial insolvency of the business arising or occurring after the inception of the policy (other terms and conditions also apply).

How much will the protection cost?

This will depend upon the amount you are borrowing and the level of cover you have chosen to take. Once we have an offer of finance for you we will confirm this. We will also send you a 'Statement of Price' with our loan offer documents which will detail the total premium to be paid.

How do I apply for payment protection insurance?

If you are interested in taking out optional payment protection insurance you should indicate this on the top of your application form. Your dedicated Underwriter will contact you to discuss your requirements and advise you of your monthly repayments.

PLEASE NOTE THAT THIS IS INTENTED AS A GUIDE ONLY. FULL DETAILS OF THE PAYMENT PROTECTION INSURANCE WILL BE SENT TO YOU WITH YOUR OFFER OF FINANCE. THE DETAILS ABOVE RELATE ONLY TO THE PAYMENT PROTECTION INSURANCE OFFERED BY MARLBOROUGH LOANS LIMITED, SHOULD YOUR APPLICATION BE PLACED WITH AN ALTERNATIVE LENDER DIFFERENT TERMS AND CONDITIONS WILL APPLY.

Marlborough Loans Limited are authorised and regulated by the Financial Services Authority. Our FSA register number is 305798. Our permitted business is entering into and administering mortgages and arranging general insurance contracts.

If you indicate that you are interested in taking out optional payment protection insurance we are required to send you Key Facts about our Services, a Statement of Demands and Needs, a Statement of Price and a Policy Summary. These documents will be sent to you with your offer of finance. These documents contain important information please read them carefully to ensure that the payment protection meets your requirements.

OUR TYPICAL, VARIABLE RATE IS 17.9% APR. RATES RANGE FROM 9.7% to 29.9% APR
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.