Jargon busting

Sometimes the numbers on your credit file don’t tell the full story. You have the right to add a personal explanation. This is known as a Notice of Correction. What is a Notice of Correction? A Notice of Correction (NOC) is a short statement (no more than 200 words) that you can add to your…

If you’ve ever applied for a loan or credit card, you’ll have come across the term “APR.” It is a term that confuses many people. But what exactly does it mean? NestEgg cuts the jargon, and explains why higher rates aren’t always as expensive as they seem. What is APR? APR stands for Annual Percentage…

Buy Now Pay Later (BNPL) schemes have become increasingly popular over recent years. They allow individuals to purchase goods and services and spread the cost (interest-free) over a number of monthly instalments. Some retailers have their own BNPL scheme, however many use a third-party provider such as Klarna, and Afterpay. When an individual opts into…

All NestEgg lenders are regulated by the Financial Conduct Authority and Prudential Regulation Authority. Due to this, credit unions are required to confirm your identity before you join and take out a loan. When you complete an online application, NestEgg will use information from a Credit Reference Agency to check your identity. In most cases…

A ‘thin credit file’ refers to when you have no or very little credit history. A thin credit file can make it difficult for lenders to assess your creditworthiness. This is because lenders rely on your history of borrowing and repayment behaviour to decide whether to lend you money. Why you might have a thin…

When it comes to borrowing and saving, naturally the first place many might think to go to would be a high street bank. However, there are other institutions that offer the same products that you may not be aware of such as credit unions. Credit unions and banks both offer a variety of financial products…