FAQ's
Important things to be aware of.
What happens if my child leaves the school?
Your credit agreement is separate from your agreement with the school. You are still responsible for repayments even if circumstances change.
Is Sencillo providing financial advice?
No. Sencillo provides information and tools but does not provide personalised financial advice. You may wish to speak to an independent financial adviser.
Am I committing by exploring options?
No. You are not committed unless you choose to accept a credit agreement. Exploring options on the Sencillo Marketplace will not affect your Credit Score.
Applying for finance.
Will there be a credit check?
No. Education finance can help some families manage cash-flow, but it isn’t suitable for everyone. You should consider affordability, total cost of borrowing, and alternative options such as savings or family support. Seek professional support from a Wealth manager if you need direct advice.
Will applying affect my credit score?
A credit check may leave a record on your credit file. Missed repayments can negatively affect your credit score.
Am I committing by exploring options?
No. You are not committed unless you choose to accept a credit agreement. Exploring options on the Sencillo Marketplace will not affect your Credit Score.
Do I need to be a UK citizen?
Yes, you need to be a UK citizen.
About Education finance.
What is education fee finance?
Education fee finance is a type of credit that allows families to spread the cost of nursery, school fees or University costs over time instead of paying everything upfront.
How does it typically work?
When you engage in the financing product: - The lender pays the education provider directly - You repay the lender in monthly instalments - The agreement is a regulated consumer credit agreement Borrowing always involves cost and should be considered carefully.
Can the money be paid to myself?
Yes, dependant on the credit prodct you chose, the money can be paid directly to you, the borrower, and you pay the education provider. In this instance, key aspects remain the same: - You repay the lender in monthly instalments - The agreement is a regulated consumer credit agreement
Is education finance right for everyone?
No. Education finance can help some families manage cash-flow, but it isn’t suitable for everyone. You should consider affordability, total cost of borrowing, and alternative options such as savings or family support. You may wish to speak to an independent financial adviser.
Will borrowing cost more than paying upfront?
Yes. Using education finance usually costs more overall due to interest and fees. You will always be shown the total amount repayable before applying.
About Sencillo.
What is Sencillo?
Sencillo is a free digital platform designed to help families understand, plan, and manage the cost of their children’s education – from early years through to university. We provide smart planning tools and information to help families look at their finances in alignment with education costs, and explore your options. Where appropriate, we also introduce families to regulated financial products, such as Loans or Savings products, offered by third-party providers, via our Marketplace.
Is Sencillo a lender?
No. Sencillo is a regulated credit broker. We do not lend money ourselves. If you choose to apply for finance, Sencillo may introduce you to an FCA-authorised lender who provides the finance and manages the credit agreement.
Is Sencillo regulated?
Yes. Sencillo is regulated and authorised under the Financial Conduct Authority (FCA) as an appointed representative of Creative Finance Corp Ltd (FRN 702435) for all regulated credit activity. All content is for informational purposes only and does not constitute financial advice.
How is Sencillo different?
Sencillo helps families understand the full education journey, not just one term at a time, supporting you to make better, more informed decisions.