A personal loan is an unsecured loan. It is a small borrowing of a fixed amount, usually between £1,000 and £25,000, which is set at a fixed interest rate across a fixed term.
Anyone who meets the below criteria can apply:
You can borrow between £1,000 - £25,000 in multiples of £1,000.
No, the personal loan product is also available to private tenants over the age of 21.
In most cases you could get a decision immediately after you have submitted your application. However in some cases we may need further information from you before we can give you a decision.
After you get a decision you will have the choice whether or not to accept it. You have 30 days to decide. Once you accept the decision you will be sent your e-signature pack to review and sign your loan documents.
E-signature is a way to sign your loan documents online – no need to post.
If your loan application is successful, funds will be transferred into your account within 3 working days after we receive your signed loan documents.
If you do not have an email address or would not like to correspond by email we can send you the pack in the post.
Interest is calculated daily but applied monthly.
The “Representative APR” is the rate that most of our customers applying as a result of an advertisement are likely to receive. It's a way to compare the interest rates for different providers. Actual rates may vary depending on personal circumstances and we'll let you know your personal loan rate during the application process.
No, your loan is a fixed monthly repayment, which means that the interest rate is fixed for the term of your loan and your monthly repayments will not change.
You can repay all or part of the outstanding balance of your loan at any time. If you wish to repay all or part of the outstanding balance you should contact us at P O Box 852, NEWPORT NP20 9LJ or alternatively by telephone on 0345 650 6290. We will provide you with a settlement quotation, which will tell you the amount that you have to pay.
Yes, there is an early repayment charge. The early repayment charge will include 28 days’ notice and an additional 30 days interest that we are entitled to charge.
When you apply to borrow money, we will use a credit score to help make a decision on whether to lend the money or not. When you apply to borrow from us, your score will be based on information from credit reference agencies. With a good credit history and payment record you're likely to be given a good credit score. If you've had many credit cards and loans, have missed payments and made lots of lending applications you may get a lower score. A low score may mean you're lent less money, given a higher interest rate or your application is turned down.
There could be a number of reasons why you have been declined as each decision is based on your personal circumstances and by reference to a credit reference agency. The most common reasons for a decline decision are:
We use Equifax and Callcredit as our reference agencies. Their details are as below
Equifax Limitedwww.equifax.co.uk0800 014 29550333 321 4043
Callcredit Ltdwww.callcredit.co.uk0870 060 1414
We use a “Soft Credit Search”, also known as a “Quotation search” to take a look at an individual’s credit report without leaving any footprints visible to other lenders when they look at your credit report (however you can still see them).With soft search, we will let you know whether we are likely to approve you for a loan without leaving a mark on your credit score.
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Our tailored rate feature does not affect your credit rating.
9am - 9pm Mon - Fri 9am - 5pm Sat Excluding Bank Holidays
0345 600 6260
8am - 8pm Mon - Thurs 8am - 6pm Fri 9am - 2pm Sat Excluding Bank Holidays
0345 650 6290