HOW IT WORKS
Applying for loans with us is simple. There's no nightmare paperwork to tackle, documents to fax or cheesy hold music to endure, because our unique service is online from start to finish.
We usually provide you with an instant answer and we deposit the cash directly into your account within 1 week (7 business days)! That makes us the fastest and only 24/7 lender in the land.
On the promised date, we will arrange a swift bank to bank transfer which will be carried out by our bank (transferring bank), so you just need to ensure your bank account information are absolutely correct so that the funds can be transferred or deposited without any delay.
You can initially request up to £3 Million and, providing you keep using the service responsibly, we'll gradually increase your RareHeights trust rating, giving you more borrowing flexibility if you ever need it. Once you are an existing customer, you'll find application is even faster next time too!
If you're still feeling a bit foggy, there's further introductory information below. Or check out our FAQs page for answers to most specific questions.
Short and Long Term Credit
We don’t want to keep you in debt. This may sound funny coming from any lender, but RareHeights Financials provides fast cash advances for a few days or weeks. We’ll only lend you money for up to fifteen years and you are always free to make an early repayment. Unlike some lenders, we won’t keep rolling your balance endlessly or encourage you to make minimum repayments. So please think very carefully before you apply, because we expect you to repay us when you promise to. If you have any doubts over whether you'll be able to do that comfortably, please don’t apply in the first place.
Transparency
We will always tell you what the full cost of repayment will be upfront. There are no catches or extra costs to worry about, providing you stick to your side of the deal. All other information that you need to know shall be provided by your credit officer.
Failure to stick to your side of the deal
The only way costs will mount beyond our initial calculation is if you don’t keep to your promise. In other words, if you ask us to change your chosen repayment date or don’t ensure enough funds are available for automatic collection. If our early morning collection attempt is declined by your bank - because you haven't ensured enough funds are available - we will do our best to contact you. We always seek to understand any problems and resolve the situation that day but, if we still haven't received full repayment by 5pm, you will incur a £20 missed payment fee towards the cost of a failed collection.
We will then make further attempts to collect the money from your card and our professional collections team will also keep trying to contact you to discuss the situation. If your circumstances have changed significantly, they will do their best to offer a solution and come to an arrangement that helps you get back on your feet, which is always our goal.
We don't believe in hitting you with multiple charges, like many traditional lenders will, but interest will continue to accrue on your balance for up to 60 days if we can't reach a fair agreement in the meantime. And if you don't work with us and we can't recover the money over a reasonable period, your account may be passed to an external partner.
Continued failure to repay a loan will also mean that the Credit Reference Agencies (CRAs) will record the outstanding debt. This information may be supplied to other organizations by CRAs and Fraud Prevention Agencies (FPAs) to perform similar checks and to trace your whereabouts and recover debts that you owe. Records remain on file for six years after they are closed, whether settled by you or defaulted. Finally, your RareHeights trust rating will be affected and you probably won't be able to borrow from us again if you were to need our service in the future.
None of these things are worth risking if you have doubts over whether you will be able to repay a loan comfortably. If that's the case, please don't apply in the first place. We use award winning technology and all the public data we can get our hands on to make the best lending decisions possible, but we also urge you to consider the serious nature of the commitment before applying.