Answers in plain words
Can I rely on your guides as financial advice?
No. They describe how borrowing generally works and cannot take account of your own situation. For a decision about a specific loan, consult an authorised adviser.
How can I tell if an offer is too good to be true?
Be cautious of any offer that guarantees acceptance, asks for a fee before paying out or pressures you to decide at once. Genuine lenders are open about charges and give time to think.
What is the cost of credit?
It is the total of everything you pay on top of the sum you borrowed, such as interest and charges. Lenders are often required to state it in the paperwork.
Do I have to accept the first offer?
Not at all. You can compare as many as you wish, and you are free to walk away at any point before signing.
What should I do if my details on a credit file are wrong?
Contact the agency that produced the report and the lender that supplied the entry, giving evidence. Keep copies of everything you send.
Understand your preliminary loan result
Check the inputs and conditions behind an estimate before treating it as a written offer.