Last Reviewed: 4 March 2025

At GreyLoan.co.uk, we are committed to providing responsive, transparent customer service and ensuring a smooth application experience. As a broker, we have established policies to clarify the lending process and direct customers to the appropriate authority if they have any questions or concerns.

Collection Policies

GreyLoan.co.uk does not engage in debt collection practices. If you take out a loan, your lender will contact you via email, telephone, or post to outline your repayment schedule. If you have any questions about your lender’s collection process, please contact them directly, as policies vary between lenders.

Late Payment

If you believe you will be unable to make a scheduled repayment on time, you should contact your lender immediately. Some lenders may offer extensions or renewals under the terms of your loan agreement. However, late payment policies differ between lenders, and missing a payment may result in additional fees or interest. Late payments may also negatively affect your credit score.

Non-Payment

If you are unable to make your repayments on time, your lender may begin the collection process in line with the loan terms. In some cases, your lender may offer an alternative repayment arrangement, which could result in extra fees or interest. Lenders may also take legal action to recover outstanding debt. It is advisable to contact your lender before missing a payment to discuss their collection policy and any available repayment options.

Loan Renewals

If you wish to renew or roll over an existing loan, you must contact your lender before your payment due date. Some lenders may allow renewals on the same terms as the original loan, but each lender has its own renewal policy, and additional fees or interest may apply. In certain cases, renewals may be automatic.

You should carefully consider whether renewing a loan is the best option for your financial situation and, if necessary, seek independent financial advice before proceeding.

Disclaimer

The information provided above is general advice only and is not intended to address your specific financial circumstances. If you require financial guidance, please consider seeking independent financial advice tailored to your individual needs.

Representative APR

• Rates range from 12.9% APR to 1,721% APR
• Minimum loan term: 1 month
• Maximum loan term: 36 months

Representative Example:
Borrowing £1,000 over 18 months:

• 17 monthly repayments of £87.22 and a final repayment of £87.70
• Total amount repayable: £1,570.44
• Interest: £570.44
• Annual interest rate: 59.97% (fixed)
• Representative APR: 79.5% (variable)

For any queries, please contact us at [email protected].

© 2025 GreyLoan.co.uk. All rights reserved. GreyLoan.co.uk is a trading name of Revoak Limited.