Glossary > The Letter Q

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The Letter Q
Saber Finance know the finance world is full of terms, phrases, buzz words and jargon.

On this page we explain,
Quick Application > Quotes

Quick Application
A quick application is when a request for finance gets a response back from the lender as quick as possible. That way a borrower gets their hands on their money quickly.
This usually happens in finance "shops" because their system used is set up and ready to go and when details are entered the lender can access the application. For all intents and purposes the process is virtually automatic and consists off following pre-set formula. But finance arranged in this way may not have the best rates because the lenders might use pre-set products and terms.
Pre-set finance products are products where borrowers taking a loan pay it back at a predetermined rate. Little time is spent on studying your circumstances. This is great when desperate for finance and you don't care how much it costs in the end.
How ever if you do care how much the finance you're after costs overall, apply to a lender who wants to check out your credit rating and individual situation. This way you will receive a quote for your finance which is tailored more for your circumstances, your ability to pay and less towards making the lender their profits.
After finance? Use the finance tools to find lenders.

Quotes
A quote will detail a financial products total and present a cost to the customer for the product. This quote should include the repayments, interest, amount to borrow and the total amount payable on the finance over its full term.
The quote should also take into account the borrowers ability to pay, their credit rating, history and requirements.
An independent agent not tied to a particular product or range should be able to present quotations from several ranges thus offering the chance to make greater savings.
To avoid being given poor advice or being ill informed of a products terms and conditions, or the risks involved in particular investments, borrowers are advised to ensure the lender is fully aware of both their needs and ability to pay. Any financial products suggested to you should be fully explained and any risks involved outlined with further information available.
After a loan quote? Try the loan payment calculator.

If you are in any doubt about any financial product or term we recommend that you seek advice from a financial advisor.

If you're after Finance Information, Saber Finance is here to help.