To protect customers and ensure responsible lending, we check whether monthly payments are right for you before offering premium finance with Zego Credit.
When you ask for a quote, we do a creditworthiness assessment. This helps us decide if spreading your payments over time is likely to be affordable for you.
If the check is successful, you’ll see the option to pay monthly. If it isn’t, you’ll need to pay the full amount upfront to take out the policy.
We carry out two types of credit checks:
Soft credit search when you request a quote. This does not affect your credit score and is only visible to you and the credit reference agency (Experian).
Hard credit search when you go ahead and buy the policy using monthly payments. This is recorded on your credit file and may be visible to other lenders.
You might be declined for credit with Zego Credit if:
Our affordability checks show that monthly payments might not be manageable for you.
We are unable to verify your identity.