If you've got a question and need some help, then you've come to the right place. We’ve pulled together the most frequently asked questions from besavvi customers to help you make the right decision.
How much can I borrow?
You can borrow between £2,000 - £10,000.
Can I take out a joint loan?
No, unfortunately we don’t offer joint loans at this moment in time.
What does APR mean?
APR stands for ‘Annual Percentage Rate’ and it is used to compare different costs of loans on a like-for-like basis. The APR shows the actual cost of the money borrowed and converts this into an annual rate (how much you will pay per calendar year).
APR’s are important as they stop lenders hiding additional costs and ensure you get a true cost of borrowing, allowing you to compare different lenders accurately.
The Representative APR is the APR that the lender expects at least 51% of accepted applicants to be offered.
- A loan based on borrowing £5,000 over 5 years at 16.9% APR representative
- Repayment per month £120.85
- Total charge for credit £2,251.00
- Total amount repayable £7,251.00
What’s an E-signature?
An E-signature is an electronic acknowledgement that you agree to all the terms and conditions of your loan. This is a faster way of signing you loan agreement and ensuring you get the funding in your account quicker.
Applying for a loan used to be a lengthy process, having to wait for paperwork to come through the post, sign it then send it back - it could be weeks before you got your money. Electronic signature allows you to sign your documents online with the click of a button.
Electronically signing a document is as simple as checking an ‘I accept box’, this is then taken as your acknowledgment and consent that you agree to all the terms and conditions of your loan. Once you’ve done this the funds could be in your account within 48 hours.
Latest technology has ensured that e-signatures can actually help enhance security. There’s no chance of documents being lost in the post or stolen. E-signing something also ensures there’s proof that the documents were submitted, showing the exact time and date this was done making your application fully traceable.
An E-signature is still a legal commitment, even clicking a box indicating that you wish to sign a credit agreement is still legally binding. The Electronic Communications Act 2000 states that electronic signatures are accepted as evidence in court should the question about the authenticity of data arise.
Can I manage my account online?
You can manage your account online by logging into your besavvi account which is situated on the top right hand side of our website, or by going to my.hpf.co.uk
Why have I been declined?
If you disagree with our decision then please email us at: firstname.lastname@example.org, or you can write to us at:
Hitachi Personal Finance
2 Apex View
When will I receive my money?
If you have been accepted for a besavvi loan, then funds could be in your account within 48 hours excluding weekends, which can take a bit longer.
How can I check what my credit score is?
For all you need to know about your credit score click here.
Free overpayments and early settlements
You can make overpayments and settle your loan early free of charge.
What fees do you charge?
The only fees we charge are missed payment fees, take a look at what happens if you miss a payment.
What happens if I miss a payment?
If you miss a payment the following fees will apply;
- If we are unable to take a Direct Debit- £22 per occurrence
- Returned cheques or credit/debit card payments- £25 per occurrence
- Default notice- £50 per notice we send you
- Letters sent to you as a result of breach of contract- £25 per letter we send you.
What should I do if I'm having trouble repaying my loan?
Check out out helpful tips and resources on managing your credit here.
What’s the difference between a ‘soft’ credit search and a ‘hard’ credit search?
If you select the ‘check my eligibility’ link and provide us with some simple information about yourself and your loan requirements, we will perform a soft search, which allows us to tell you how likely you are to be accepted for the loan amount you want. If you decide not to go ahead with the full application, it will have no effect on your credit score and other lenders won’t be able to see the enquiry on your credit file. This type of search doesn’t use all the data that would be necessary for a full application and is intended as an indication of eligibility only.
If you select ‘apply’, we will perform a hard search, collecting all of the data required to make a decision as to whether we can offer you a loan and we will also place a record with the credit reference agencies that will be visible to other lenders and financial institutions, who may use that information to make credit decisions in the future. This type of search could have an impact on your credit score (especially if multiple searches are made). We may also make further checks with fraud prevention agencies as part of the application process.