At what point will a lender issue a Credit Guide to a customer?

A lender issues a Credit Guide at the start of discussions regarding a potential loan to ensure that the customer is provided with key information early in the process. This guide typically outlines the types of loans available, key terms and conditions, and the lender’s obligations, all of which are crucial for the customer to understand before proceeding with any financial commitment.

By providing this information at the beginning, the lender aims to promote transparency and enable the customer to make informed decisions about their borrowing options. It aligns with regulatory requirements that focus on fair practices in lending, ensuring that customers are not only aware of their options but also of any potential costs or implications associated with taking out a loan. This proactive approach is beneficial for both parties, fostering trust and clarity from the outset of the lending relationship.