We are always happy to answer any questions you have about the work we do, our application process and our council partnerships. If our Frequently Asked Questions do not answer your query, please contact us and a member of our team can support you.
Lendology requires a Title Restriction as we lend local council funds to homeowners. The local council require repayment of the loan should the loan property be sold during the loan term. The Restriction is only in place whilst there is a balance due on the loan. When you have repaid your loan in full, we will deal with the removal of the Title Restriction at the Land Registry. There is no fee or charge for this.
If during the loan term you decide to sell or transfer the ownership of your home, your legal representative will write to us and request a loan balance on the date of sale, and we will remove the Title Restriction when the balance of the loan has been received.
Our Title Restriction means that if the loan balance is still outstanding when you sell your property, Lendology will require its funds returned as part of this process. Your legal representative will write to us and request a loan balance on the date of sale, and we will remove the Title Restriction when the balance of the loan has been received.
If you are re-mortgaging your home, your legal representative will contact us for our consent. We consider each case on a case-by-case basis and are likely to approve your re-mortgage if your new mortgage is similar to your previous mortgage when you took your Lendology loan. If we do not consent to your re-mortgage, we will confirm to your legal representative the loan balance required to settle the loan.
We will never ask you to sell your property in order to repay the loan.
As we work in partnership with local councils, we can only lend to homeowners with properties in our current local council partner areas. To find out which local councils we currently work with, click here.
If your local council is not listed, you can contact your local council direct as they may have alternative options available. Find your local council here. If you are a homeowner, you will need to speak to the private sector housing team or environmental services team.
If you are a local council keen to explore setting up a partnership, click here.
By providing loans, public funds are recycled as every time a loan repayment is made, it goes back into the council pot to be lent again, and again and again, and again! This creates a recycling pot to help homeowners now and into the future by providing loans. Public funds are recycled as every time a loan repayment is made, it goes back into the council pot to be lent again, and again and again, and again!
This creates a recycling pot to help homeowners now and into the future.
We are not a grant making organisation, but if you approach us for a loan and we believe you may be eligible for a grant elsewhere, we can signpost you appropriately.
As a Social Enterprise, we are driven by impact over profit. Lending with heart and mind, we see you as an individual, not a credit score.
This means that we don’t use credit scoring or computer algorithms to make our lending decisions. Our knowledgeable team of Case Managers will guide you through the application process. We will assess your eligibility, how much you could borrow and the loan best suited to your circumstances.
This will depend on the amount you borrow and the loan product you are eligible for. Your Case Manager will work with you to find a solution which meets your individual needs and means (subject to eligibility and status).
No! However, if you are in receipt of benefits, pension credit or a state pension, or you are self-employed, you are welcome to apply. Your loan product, as with everyone, will suit your needs and means (subject to eligibility and status).
We do not charge any administration or set up fees. However, if a loan is offered a Title Restriction is normally registered at the Land Registry and a £20 fee will be payable to the Land Registry to register the restriction.
If your property is unregistered, other fees may apply. We will tell you about any other fees or costs that you may have to pay if you take out a particular loan.
We consider each client individually and your unique circumstances will be taken into account during the assessment. We will not automatically refuse a loan because you have or have had CCJs (County Court Judgments) or struggled with debt in the past. However, we will need to understand your past and current situation before considering a loan application.
We do not assess applications based on credit scores. We consider each client individually and your unique circumstances will be taken into account during the assessment. If you are concerned, please contact us and a Case Manager will discuss the application process with you.
APR stands for Annual Percentage Rate. The APR reflects the amount a loan costs annually and includes any fees or charges associated with a loan. APR is calculated in the same way by all lenders and this figure will help you to compare different loan products and providers. A Lendology loan has a fixed interest rate and representative 4.2% APR (subject to eligibility and status).
As a responsible lender, we are not able to lend to everyone who applies for a loan with us. Your Case Manager will discuss with you directly the reason your application cannot progress.
You can pay your loan off in full at any time without penalty. You can also make lump sum reductions of £100 or more at any stage to reduce the balance outstanding. To find out how to do this, please call us on 01823 461099 and a member of our team will be happy to help.
We are here to help and we understand that people’s circumstances can and do change. We will work with you so please do not worry alone about your Lendology loan. Contact us and a member of our team will be in touch with you.
We work in partnership with your local council to provide loan funding for a variety of works to properties. As part of the application process, you will need to submit details of the works being undertaken and quote(s) from your chosen contractor. If your works are already in progress or completed, please be aware that our council partners may not retrospectively approve funding. For an informal conversation regarding your works, please do not hesitate to contact us.
