Advertorial: Q&A with Hitachi Personal Finance

Hitachi answers some of the most commonly asked questions about its personal loans, to find out what has earned it a consistent customer satisfaction score of 98% and the YourMoney award for Best Direct Personal Loan Provider for the last three years running.

Q: What can a Hitachi Personal Loan be used for?
A: As an unsecured form of finance, our personal loans can be used for a number of things.

Popular uses include organising finances into just one payment, taking a holiday, improving/upgrading a home or car, or even funding a wedding.

Q: Is a Hitachi Personal Loan right for my lending needs?
A: There are many different options for lending, so it’s important to do thorough research before committing to a product, but generally speaking our loans are a good option for those looking for a simple agreement with a pre-defined payment each month for a set period of time.

What’s more, our quick online application means you could have the money in your account within 48 hours (excluding weekends and Bank Holidays)

Q: How do you decide whether to accept or decline a customer?
A: Firstly, you need to meet our basic criteria, which includes being aged 21 or over, holding a bank or building society account, being a permanent UK resident (and have been living in the UK for at least 12 months), in permanent paid employment, self-employed or retired with a pension and have a good credit history.

We then use credit reference agencies Experian and Callcredit to assess your credit history, and do a full affordability check.

For some hints and tips for looking after your credit report, check out our list of do’s and don’ts.

Q: Will I get a better rate doing an application over the phone rather than online?
A: No. The decision and the rate you receive – both online and over the phone - will be the same. We do encourage our customers to complete the application online, but that’s only because it’s a much quicker process. It has no bearing on the decision.

Q: Can I flex my loan?
A: Once accepted, you may be given the opportunity to reduce the monthly instalment by extending the term of your loan, making repayments fit your budget.

Q: Do you charge any set up or additional fees?
A: At Hitachi Personal Finance, we believe in keeping things nice and simple. So no, we don’t charge a set-up fee and there are no hidden costs.

If you’re looking for a low-cost personal loan, check out our new low rate of 3.6% APR Representative on loans between £5,000 and £7,499 – exclusively for Love Money customers.

Representative Example: Hitachi loan based on borrowing £5,000 over 5 years 3.6% APR Representative: Interest rate (fixed) 3.6%: Monthly repayment £91.05: Total credit charge £463.00: Total repayment: £5463.00.