Responsible Lending

At estone we believe in responsible lending to all customers

At Estone we believe in responsible lending to all customers. We will: 

  • Assess the creditworthiness of the customers to ensure that they have the ability to sustain payments over the term of the credit agreement. This will mean us consulting with a credit reference agency to assess their credit history, and for existing customers this mean will reviewing their payment history with Estone in accordance with their credit reference report.
  • Assess the affordability of the customer by completing a robust income and expenditure assessment to ensure that the customer has an adequate disposable income to make the loan repayments.  
  • Validate the customer declared income against two consecutive forms of proof of income.
  • Ensure that we only ever use a maximum of 30% or 35% of the customer’s disposable income as a weekly credit limit depending on their circumstances.
  • Ensure that all loans are underwritten by member of our experienced senior management team.
  • Ensure that we work out the customers Debt to Income (DIR) Ratio to ensure they can balance their full debt portfolio.
  • Ensure that we make available multiple payment methods including cash payment from your home, continuous payment authority (CPA), standing order, and direct debit card payments.
  • Ensure that we never charge late payment fees, hidden fees, or administration charges to the customer.

At Estone we believe in supporting our customers. We will:   

  • Ensure that our product pricing is competitive against other companies in our sector.
  • Treat all customers who get into financial difficulty fairly and compassionately, and work with them to provide solutions to their circumstances.
  • Exercise forbearance for customers experiencing financial difficulties.
  • Provide a published complaints process that is accessible through our website.
  • Ensure that the customer is aware of their right to complain to the Financial Ombudsman Service (FOS) if they have a complaint that has not been resolved to their satisfaction.

At Estone we believe in being open, honest and transparent with all customers. We will:

  • Ensure that our prices are fully transparent, providing clear information on the full cost of ownership.
  • Provide customers with an Annual Statement for each credit agreement, detailing all of the payments made and outstanding balances.
  • Provide all customers with a Payment Card that will be marked on a weekly basis by their local collections agent. Or, if the customer is a debit card payer the card will be marked monthly by the collections agent.
  • Ensure that the customer receives a comprehensive adequate explanation process at the pre-contractual stage of the Hire Purchase application.
  • Ensure that the customers are informed of the consequences of missing or making reduced payments.  
  • Ensure that the customer can settle in full or partially their loan any time during the loan term.
  • Ensure that the customer is aware that they have the right to withdraw from their loan within 14 days of the contracts execution.

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Google Rating

Representative Example £200 Cash Loan repayable over 27 weeks 27 weekly payments at £10.50.
Rate of interest 80.63% p.a. Fixed Representative APR 295.2%. Total amount payable £283.50