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Loans FAQ

How do I cancel my loan application with Money Essentials?

If you no longer require us to find you a loan, it’s simple to cancel, either email, or click the ‘contact us’ tab on our website and submit a ‘general enquiry’ with the title ‘cancel application’ and we will aim to respond to your request within 48 working hours. You can also call us on: 01442 449 009.

Do I still have to pay if I don’t get a loan?

If you are unhappy with the lender, or if you get turned down by a lender, all you need to do is contact us and we will find another lender for you. If you do not get a loan by the time it comes to pay the service fee, you can easily change the date it is collected, or cancel completely.

When will I get the loan?

It is important that you understand that Money Essentials does not lend you the money. We’re the broker, not the lender; it’s our job to find the best loan that is available to you.

Please remember, that as we aren’t the lender, we cannot guarantee the loan amount, when you may receive the loan, or the interest rate you may be offered.

How do I get a refund?

If for whatever reason you are unhappy with the service and wish to obtain a refund, all you need to do contact us. You can write to; Money Essentials – Customer Service, First Floor, St James House, Northbridge Road, Berkhamsted, HP4 1EH, Or call us on: 01442 449 009. Alternatively send your request via email to and we will aim to respond to your request within 48 hrs.

Why have Money Essentials taken money from me?

If you’ve made a payment to us, it means you’ve asked us to find you a loan. It is important for you to know that we never collect a payment unless we have had your prior authorisation. When you make an application for our services, you authorise us to collect our service fee at later date, as we do not charge any upfront fees.

My payment date is almost due, but I haven’t had my loan?

Whilst we make every effort to find you a suitable loan and aim for you to have a loan before our fee is taken; as we are not the lender we cannot guarantee when a loan may be paid out. Don't worry though, if you haven’t received a loan by the time it comes to pay the service fee, let us know and we’ll postpone it for you.

How do I know I’ve definitely been accepted?

We only ever accept applications from people that we’re certain we can help. The information customers provide is carefully analysed during the application and if there are no lenders on our panel that would consider you as a customer ,or the customer is insolvent, the application will not be accepted and the customer will never get to the stage of the application where they are asked to schedule the payment of the service fee.

How much do you charge?

Our service fees our £89. We do not ask you to make any payment upfront; we schedule it for a date in the future, as we aim for you to have received a loan before our service fee is taken.

Do you do credit checks?

We analyse the infornation you provide and match you to your best lenders based on your circumstances, which means we will not carry out a credit check and not leave any footprint on your credit file. This means you can be considered for hundreds of loan products, without having to trawl through hundreds of loan applications yourself and leave unnecessary credit searches on your credit file. It is worth noting that any lender that we do match you to, based on your circumstances, may need to run a credit check in order to make a decision on your loan application.

My lender declined me, what next?

With many lenders on our panel it is impossible for us to know when a customer gets declined for a loan, so it is important that you make us aware if this is the case. We will then match you with the next most suitable lender that we believe will accept you.

What is a guarantor loan?

A guarantor loan is a type of personal loan designed to help people who are struggling to get finance from their bank or high street lenders.

A guarantor is someone who is willing to say that if you missed your monthly repayment on the loan, they would pay it on your behalf. Should you decide to take a guarantor loan, it will be in your name, but the acceptance will be based on the guarantor's credit history.

A guarantor can be anyone you know, someone who trusts you; maybe a family member, a friend or colleague, they can be a tenant or a homeowner, but they will normally need to have a good credit history and have a certain amount of disposable income each month. The criteria your guarantor will need to meet will be individual to each guarantor lender

When do I pay your fee?

During your application you schedule your payment for a date in the future, when we anticipate you would have received your loan as our aim is for you to have a loan paid out before our fee is taken. This date will be agreed with you during your application over the telephone. If you haven’t received your loan by the time it comes to pay the service fee, just get in touch and we can postpone it for you.

Can I trust you?

Here at Money Essentials we pride ourselves on quality of service. We are committed to a providing a service which leaves our customers satisfied and understand that trust is a big thing when looking for a loan. The main thing is we do not charge any fees on the day you make your application, which means our customers are in complete control.

We are regulated by the FCA as a credit broker; part of AK Management (UK) Ltd.

How do I make a complaint?

We make every effort to ensure our service to you is excellent. However, if you are unhappy at all, you should first contact our customer service department by emailing: who will try and resolve it for you and we will acknowledge your email within 48 working hours. It you would like to make a formal complaint, full details of our complaints procedure are available to view on our website and in our Terms and Conditions.

What is a pay day loan?

Payday loans are for people who may have run out of cash but can't wait until their next payday. They should be viewed as a short-term solultion, as they charge a much higher interest rate than most long-term loans. Payday lenders can normally only offer up to £750.

What does APR mean?

APR stands for Annual Percentage Rate. It tells you the amount of interest that you will have to pay throughout the course of your loan. The higher the APR, the more you will pay back for borrowing the money.

By looking at the APR of different lenders, you can compare them and work out what's a good deal. It's best to work out what you'll be paying on a monthly basis to help you decide if you can afford the loan you are offered. If numbers aren't your thing, there are lots of APR calculators online that will do the maths for you.

Who is AK Management (UK) Ltd?

AK Management are a finance organisation made up of several brands offering loan brokering, debt management and credit management. Money Essentials is the loan brokering brand under AK Management (UK) Ltd.