Frequently Asked Questions

Personal Loans can be used for:

• Home improvements
• Vehicle purchases
• Debt consolidation
• Emergency or healthcare expenses
• Weddings, holidays or other major purchases

They cannot be used for investments, gambling or illegal activities.

The amount you can borrow depends on your individual circumstances, including income, affordability and credit profile.

• Personal loans: typically from £5,000 to £50,000, subject to status.
• Higher amounts: we do consider amounts above £50,000 where suitable security is available, subject to status and assessment.

36–60 months
Unsecured repayment terms, subject to status

36–84 months
Secured repayment terms, subject to status

Secured loans: backed by an asset, such as property or equipment, and may offer lower interest rates.

Unsecured loans: do not require collateral and are typically based on income and credit profile, often at a higher interest rate.

APR (Annual Percentage Rate) shows the annual cost of borrowing. It includes interest and certain charges, making it useful for comparing finance options.

Flat rate calculates interest using the original amount borrowed for the full term, even as the outstanding balance reduces.

Because they are calculated differently, a flat rate will usually look lower than the equivalent APR and the two should not be compared directly. When comparing finance, consider the APR, monthly repayments, term, fees and total amount repayable.

In most cases, you could receive a Personal Loan decision on the same working day once we have received your completed application and all required supporting documents.

Further information may sometimes be required.

Versus Finance arranges business finance for eligible purposes including working capital, investment, expansion, premises improvements, business purchases, vehicles and other business costs.

The most suitable option will depend on the business circumstances and the outcome of the assessment.

There is no single fixed upper limit. Unsecured business facilities typically range from £5,000 to £50,000, subject to status. We do consider higher amounts where suitable property or assets are available as security, subject to status and assessment.

The amount available will depend on factors such as the finance purpose, turnover, profitability, affordability, available security and credit profile.

36–60 months
Unsecured repayment terms, subject to status

36–84 months
Secured repayment terms, subject to status

Yes. Versus Finance arranges business finance for Jersey sole traders and limited companies, including Business Loans and Asset Finance where appropriate.

Available options will depend on the business structure, trading history, finance purpose and affordability.

Yes. Versus Finance welcomes enquiries from Jersey startups.

We assess the business plan, projected cash flow, relevant experience, available security and the applicant’s financial position.

Asset Finance can be suitable when funding equipment or vehicles. All applications are assessed individually.

A personal guarantee is a legally binding promise to repay business finance personally if the business cannot.

It can remain enforceable if the company enters liquidation. Where guarantees are joint and several, any guarantor may be pursued for the full outstanding balance.

It is a significant commitment, and independent legal advice should be considered before signing.

Not automatically. Interest may qualify for a deduction or tax relief where the borrowing is used wholly and exclusively for the business or for another qualifying purpose. The treatment depends on how the funds are used, the business structure and the applicable Jersey tax rules. Capital repayments are not normally deductible.

Jersey’s standard company-tax rate is 0%, so even an allowable deduction may not reduce the tax payable by many companies. A Jersey-qualified accountant or Revenue Jersey should confirm the treatment for your circumstances.

For an established business, we will normally request proof of identity and address for the relevant directors or applicants, complete business bank statements covering the last three months, the most recent two years of trading accounts, and details of the amount and purpose of the finance.

For a new business, we will normally request a business plan and financial forecasts instead of historic trading accounts. Additional documents may be required depending on the application.

In most cases, you could receive a decision within 24 hours once we have received your completed application and all required supporting documents.

In some cases, we may need further information before a decision can be provided.

Versus Finance arranges Asset Finance for eligible cars, vans, commercial vehicles, plant and machinery, agricultural equipment, IT equipment, catering or hospitality equipment, medical or dental equipment, marine equipment and other specialist assets.

Please contact the Versus Finance team if you would like us to review an unusual asset.

Yes. Versus Finance arranges Asset Finance for eligible new and used assets.

Asset Finance is generally available for assets up to 12 years old. For assets older than 12 years, please contact Versus Finance so we can review the asset and discuss the most suitable finance option.

Purchases from private sellers or overseas can require additional documentation.

Standard Asset Finance amounts are typically from £5,000 to £50,000, subject to status and assessment.

We do consider higher amounts depending on the asset, available security and individual circumstances.

Standard repayment terms are available from 36 to 60 months, subject to status and assessment.

We do consider terms of up to seven years depending on the asset, its age, expected working life and the circumstances of the application.

Hire Purchase allows you to acquire a vehicle by paying an initial deposit followed by fixed monthly payments.

The finance provider owns the vehicle during the agreement. Ownership passes to you once all payments and any option-to-purchase fee have been paid.

Contract Hire is a long-term rental arrangement. You pay an initial rental followed by fixed monthly payments.

At the end of the agreed term, you return the vehicle rather than owning it. Mileage, condition or early-termination charges may apply.

PCP normally involves a deposit, monthly payments and a larger optional final payment.

At the end of the agreement, you can return the vehicle, pay the final amount to own it or potentially use any available equity towards another vehicle. Mileage and condition charges may apply if it is returned.

A balloon payment is a larger amount deferred until the end of certain vehicle-finance agreements, most commonly PCP. You normally pay an initial deposit followed by monthly payments calculated using the vehicle price, agreement term, interest, fees and its predicted end-of-term value.

At the end of a PCP agreement, you can usually pay the balloon payment to own the vehicle, return it subject to the agreement’s mileage and condition requirements, or potentially use any available equity towards another vehicle.

We will normally request proof of identity and address for the relevant applicants, complete bank statements covering the last three months, details of the asset and seller, and the purchase invoice or quotation.

Registration, ownership, valuation, seller or import documents may also be required depending on the asset and transaction.

In most cases, you could receive an Asset Finance decision on the same working day once we have received your completed application and all required supporting documents.

Further information may sometimes be required.

Versus Finance can help eligible Jersey clients explore First-Time Buyer, Buy-to-Let, Commercial and Interest-Only Mortgages, Large Mortgage Loans of £2 million or more, and Bridging Finance.

Availability and terms depend on the applicant, property, affordability, security and lender criteria.

The deposit required will depend on the property, your circumstances and the lender’s criteria. Mortgages of up to 95% loan-to-value (LTV) may be available on selected products, which could mean a deposit starting from 5%.

All applications are subject to eligibility, affordability, valuation and approval. We can explain the options available after reviewing your circumstances.

Yes. Versus Finance helps eligible Jersey clients explore interest-only mortgage options for residential, buy-to-let or commercial requirements.

We will review your circumstances and help identify suitable options. All applications remain subject to assessment.

With an interest-only mortgage, the capital remains outstanding at the end of the term, so an acceptable repayment strategy will normally be required.

As a broad guide, borrowing for a residential mortgage on your own home is often around four to five-and-a-half times your gross annual household income.

The amount available will depend on your deposit, income, regular expenses, existing debts, dependants, credit history, mortgage term and the property.

Versus Finance can provide an initial indication based on your circumstances. All mortgages are subject to affordability, valuation and approval.

Yes. Versus Finance welcomes property-finance enquiries from eligible Jersey sole traders and limited companies.

We will review the business structure, trading history, property, intended use, affordability and available security to help identify suitable options. All applications remain subject to assessment.

A bridging loan is short-term secured finance designed to cover a temporary funding requirement before another source of funds becomes available, such as a property sale, refinance or longer-term facility.

Suitable security and a clear exit strategy—the planned method of repaying the finance—will normally be required.

A bridging loan provides short-term finance secured against property. A clear repayment plan, known as an exit strategy, is essential.

1. Enquiry: You tell us how much finance you need, its purpose, the property details and your exit strategy.
2. Assessment: Versus Finance reviews and structures the proposal.
3. Terms and checks: Terms are provided, followed by any required valuation, legal work and document checks.
4. Completion: Once all conditions are met, the funds are released and later repaid through the agreed exit strategy.

Requirements and timescales vary by application.

Bridging finance is short-term secured funding for a defined requirement and needs a clear plan for repayment. A traditional mortgage is longer-term property finance, normally repaid monthly over an agreed term.

Bridging finance can sometimes be arranged more quickly, but its interest and fees are generally higher. Both remain subject to assessment, valuation, security and lender criteria.

Bridging finance may be considered for eligible property purchases, refinancing, renovations, development projects and other time-sensitive funding requirements.

For a property-development project, it may help fund the purchase of property or land, eligible building or refurbishment works, or both.

The available finance will depend on the property, planning position, project costs, proposed security and exit strategy. Every transaction is assessed individually and remains subject to lender criteria.

Bridging finance is generally used to meet a short-term funding need and is often released in one amount.

Development finance is designed for eligible building or substantial refurbishment projects and is commonly released in stages as work progresses, subject to monitoring and lender conditions.

Both require suitable security and a clear exit strategy. The appropriate option will depend on the project scope, costs, planning position, experience, security and lender criteria.

Bridging finance is a short-term solution, generally available for terms from one to 24 months.

The appropriate term will depend on the transaction, property and agreed repayment plan.

Versus Finance typically considers bridging-finance requirements from £750,000 to £15 million.

The amount available will depend on the transaction, security provided, proposed repayment strategy and lender criteria.

Versus Finance welcomes bridging-finance enquiries from individuals, partnerships, Jersey limited companies, special-purpose vehicles (SPVs) and trusts.

The appropriate structure and required information will depend on the applicant, transaction, Jersey property being offered as security and proposed exit strategy. All applications remain subject to assessment and approval.

Bridging finance will normally require suitable security. The type and value of security required will depend on the transaction and individual lender criteria.

Property or assets used as security may be at risk if the bridging finance is not repaid in accordance with the agreement.

A bridging-loan exit strategy is the clear and realistic plan for repaying the finance at the end of the agreed term. Common examples include selling the property, refinancing onto a longer-term mortgage, or moving to development finance where appropriate.

The lender will consider whether the proposed exit strategy appears achievable before approving the finance.

For Jersey property, secured lending is commonly protected by a hypothec registered against the property. “First charge” and “second charge” may be used informally to describe the lender’s priority.

A first-ranking lender is repaid before lower-ranking secured lenders if the property is sold. A second-ranking lender sits behind an existing secured lender and is repaid from the remaining proceeds.

The available structure depends on the property value, equity, existing security and lender requirements. A Jersey advocate will confirm and document the appropriate security and ranking. Property used as security may be at risk if the finance is not repaid.

A straightforward Jersey bridging loan may complete in 5–10 working days, although allowing 2–4 weeks is more realistic when additional valuation or legal work is required.

Timescales depend on the supporting documents, property valuation, legal work and how quickly any conditions are satisfied. More complex cases may take longer.

Bridging-finance costs are assessed individually and may include interest, arrangement fees, valuation fees and legal costs.

The applicable rate and charges will depend on the transaction and finance arrangement.

We will normally need the amount and purpose of the finance, details and estimated value of the Jersey property, any existing borrowing secured against it, and the proposed exit strategy.

Identification, proof of address, property or purchase documents, project information and evidence supporting the proposed sale or refinancing may also be required. Exact requirements depend on the transaction.

An application may not proceed because of insufficient equity, unsuitable security, an unclear exit strategy, a lower-than-expected valuation, property-title or planning issues, incomplete information, or credit and affordability concerns.

Every proposal is assessed individually, so no single factor necessarily determines the outcome.

We may request additional information where required to assess your application, verify the information provided or meet relevant lender, identity and regulatory requirements.

A credit search may be carried out when you proceed with a completed finance or mortgage application, whether online, by telephone or in person. Depending on the product and lender, this may be a soft or hard search.

Where required, and depending on the finance product, Versus Finance may review your income, expenditure and existing commitments as part of assessing affordability.

We normally require the latest three months of statements for relevant accounts, including personal current accounts, business accounts, savings accounts and e-money accounts where applicable. Further statements may be requested where required.

Versus Finance carries out appropriate identity and anti-money laundering checks, with additional information or documentation requested where required.

Yes. Existing loans, credit commitments and other regular financial obligations are considered as part of the affordability and financial assessment.

If you have had a credit application declined elsewhere within the past three months, please contact us before applying.

We can discuss your circumstances first and help you avoid unnecessary applications and additional credit searches being recorded on your credit file.

Yes. The information required depends on the type of finance:

• Personal Loans: Bank statements, Jersey tax assessments or returns, and evidence of regular income.
• Business Loans: Business bank statements and the last two years’ certified accounts. Financial forecasts may also be required.
• Mortgages: The last two years’ certified accounts, two years of Jersey tax assessments, and personal and business bank statements.

Additional information may be required depending on the application.

A credit score is a useful indicator, but it is not the whole decision. Credit reference agencies use different scales, and each lender applies its own criteria.

A high score does not guarantee approval. Recent missed payments, frequent overdraft use, heavy existing borrowing or limited funds after regular commitments may still raise concerns. Equally, a lower score does not automatically mean an application will be declined. Lenders also consider affordability, income, account conduct and existing commitments.

Yes, provided that at least 51% of your regular income comes from employment or another acceptable earned-income source.

If your income is solely from Social Security benefits, unfortunately, we are unable to assist at this time.

• Be over 18 and no older than 70 when the loan term ends
• Have been continuously resident in Jersey for at least three years
• Be in employment or have a regular source of income
• Have a UK or Jersey bank account that accepts Direct Debit instructions

You can begin your finance application in any of the following ways:

• Apply online: complete our eligibility form.
• Call our Jersey office: +44 (0) 1534 769669
• Visit us in person:
  De Carteret House, 7 Castle Street, St Helier, Jersey JE2 3BT

Our team will review your information and contact you about the next steps.

An affordability check compares your income and regular expenses with your existing commitments and the proposed repayment to assess whether the borrowing appears manageable.

Factors that may affect eligibility include:

• Income and employment stability
• Regular living costs and financial commitments
• Existing borrowing
• Credit history and account conduct

Complete and accurate information helps us assess an application promptly. All applications are assessed individually.

Personal loans

• Proof of identity for all applicants
• Proof of address for all applicants*
• Complete bank statements for the past three months

Business loans

• Proof of identity for all company directors
• Proof of address for all company directors*
• Complete business bank statements for the past three months
• Last two years of trading accounts (audited or unaudited)

Asset finance

• Proof of identity for all applicants
• Proof of address for all applicants*
• Complete bank statements for the past three months (personal or business)
• Asset registration document, where applicable
• Seller KYC/AML: proof of identity, address and bank account

*Proof of address must be dated within the past three months.

Bank statements: Please provide complete statements for all current, savings and e-money accounts, including Revolut.

Additional documents may be required.

Factors that may affect an application include:

• Missed payments, defaults or other adverse credit history
• High existing debts or regular financial commitments
• Frequent overdraft or short-term credit use
• Several recent credit applications or evidence of loan stacking
• Income that is irregular or cannot be verified
• Regular or significant gambling transactions affecting affordability
• Incomplete or inaccurate information

None of these automatically means an application will be declined. Each application is assessed individually based on the full circumstances.

A general eligibility enquiry with Versus Finance does not affect your credit score.

If you proceed with a formal application, a credit search may then be carried out. Depending on the product and lender, this may be a soft or hard search.

The eligibility result is an initial indication only. It does not guarantee approval, a particular interest rate or a particular borrowing amount.

Joint applications are welcome. Both applicants must provide the required information and documents, give consent to the relevant checks and meet the applicable eligibility and affordability requirements.

The application will be assessed using the combined circumstances and commitments of both applicants and remains subject to approval.

We cannot currently accept applications while you are on probation or employed under a temporary or zero-hours contract.

Repayments are normally collected monthly by Direct Debit. When you sign the credit agreement, you can select a payment date between the 1st and 28th of each month.

Your first repayment is normally due within 30 days of signing. The confirmed payment amount and schedule will be set out in your credit agreement.

Yes. You will receive the finance agreement and relevant documents from the finance provider. A copy will usually arrive at the address you provided within five working days. Read everything carefully and ask about anything you do not understand.

Yes. The full repayment details are shown in your loan agreement. You must review and sign the agreement before the finance is completed and the funds are released.

Once the final payment has cleared, the provider will close the agreement and issue any relevant completion or release documents.

Yes. Portuguese-speaking support is available in our office, over the phone and by email.

Finance in Jersey is different. Versus Finance was built here, works exclusively here and has spent years developing a deep understanding of the Island’s finance, business and property markets.

We know the local market, understand complex circumstances and tell you honestly what may be possible before unnecessary applications are made.

Speak to us first, and you will receive:

• One experienced contact from enquiry to completion
• An early review of affordability and eligibility
• Access to finance that may not be available directly
• Support for self-employed applicants and complex circumstances
• Coordination of documents, valuations and legal work where required

Finance is what we do every day. Start with Versus, and let us make the process clearer and more straightforward.

Needing additional support does not prevent you from applying. Depending on your needs, we can offer:

• Clearer explanations or additional time
• Accessible formats
• A preferred communication method
• Portuguese-speaking support
• Support involving an authorised representative or trusted person

An authorised representative, attorney, family member, advocate or trusted person can support you, subject to the necessary authority, identity and confidentiality checks.

Versus will continue to seek your instructions unless the representative has valid legal authority to make decisions on your behalf.

If you can’t find the information you need, please contact us by phone on 01534 769669 or by completing our contact form.

Versus Finance will be happy to assist.

Please contact Versus and quote your Versus Finance client reference or finance agreement number, where available. Identity and security checks may be required before we can update your details.

Please report to reception when you arrive at the office.

We recommend contacting Versus in advance, particularly if you need an appointment, an accessibility adjustment or other support.

Yes. Versus Finance charges an arrangement fee for certain finance products. Full details are available in our Terms of Business.

No. The arrangement fee is paid separately when you sign the loan agreement and is not added to the amount borrowed.

This avoids increasing your loan unnecessarily and means you will not pay interest on the fee, helping to keep your overall borrowing cost lower.

Versus Finance primarily serves clients based in Jersey.

In some cases we may assist clients with Jersey connections or assets. Please contact us to discuss your circumstances.

Yes. Versus Finance may send SMS reminders using the sender name VersusLtd, usually when a finance agreement is approaching maturity and to offer assistance where required.

A sender name alone does not confirm that a message is genuine. We will not ask you by SMS to disclose passwords, security codes or full banking details. If you are uncertain, do not use any link or contact details in the message—contact us through the details published on our website.

We use your personal information to handle your enquiry, assess and arrange finance, communicate with you, meet our legal obligations and help prevent fraud.

Our Privacy Policy explains how information may be collected, used, stored and shared, as well as your rights.

Versus does not accept cash. Arrangement fees must be paid by bank transfer or another payment method confirmed directly by the team.

Versus may reduce or waive all or part of the fee at its sole discretion.

Any reduction or waiver must be confirmed in writing and will apply only to the named client and transaction.

A finance provider, valuer, Jersey advocate or solicitor, insurer or another third party may charge separate fees under its own terms.

Versus will explain any charges known to us or direct you to the relevant documents before you proceed.