Financial products have always been there to cover dental implant placement, but they have never more popular in the United Kingdom. As implants continue to rise, the avenues to make them more affordable increase too.
However, not every patient may be given this privilege. Many lenders may now be more willing to cover this important restorative and cosmetic dental procedure, but they nevertheless implement guidelines to weed out potentially bad borrowers. Strict or not, you have to pass the certain requirements to access the funds you need for your new teeth.
Financing a dental implant in Kent, or other English counties, is relatively simpler than a house or a vehicle. Usually, these are the only requirements you have to meet:
Your creditworthiness is the first thing lenders would scrutinise amongst your credentials. They would look at your history to know who you are as a borrower. You may have a stable job now and some cash reserves, but any undesirable item on your record may compromise your chances.
If you have a default, be prepared to provide an explanation about it. If you give a good reason to miss your repayments in the past, you may gain the trust of your lender.
Your score would most likely influence the interest rate you can get. The bigger your number, the lower rate you can access. Rates are sometimes negotiable, so consider to bargain — especially if you have great qualifications.
As with other financial products, you have to put down some money to show the lender you have the capacity to repay the loan. Every lender may require you to pay a certain amount upfront, so it is best to know the minimum deposit size first to know how much you still need to save.
Many borrowers would only try to pay the minimum for convenience, but you might be better off paying a larger amount. This way, you can reduce the amount you have to borrow and pay less interest down the road.
Most lenders do not require a deposit for dental implant placement, but if they do, be particular with the minimum.
Even if your application gets denied, hope is not lost for your missing teeth. Ask the lender for other routes to access the funds you need for your necessary dental work.