Personal loans

A personal loan allows you to borrow a fixed amount of money and repay it in monthly instalments over an agreed period. These repayments include interest, so the total amount you repay will be higher than the amount borrowed.

You can't use our personal loans to invest in or trade in cryptocurrencies or other high-risk investments. This is because the value of cryptocurrencies – or stocks and shares – can rise or fall, and you could lose some or all of your money.

During the application, we'll ask you about your finances. This will include your employment status, salary and monthly outgoings. Depending on your individual situation, we might ask for more information to help us make a decision about your ability to pay back a loan.

You'll also need to verify your identity during the application. This will involve taking a photo of your ID, and recording a short video of yourself. If you’re not able to take a video to confirm your identity, chat to us to discuss your options by logging in to your loan account and selecting the icon in the bottom right of the screen.

All of our loan applications go through a standard credit scoring system, which helps us decide whether we can lend you money and which rate you’ll get.

This consists first of a soft credit check to provide your personalised quote. This will not appear on your credit file. As part of the full application, we’ll do a hard credit check, which will be shown on your credit file.

Credit scoring works by taking all of your personal information and giving each relevant detail a ‘score’. These individual values are then added together to provide a final score, which we use as a basis to make our decision.

You’ll normally receive a decision for your loan application within minutes of applying. In some cases we’ll need to perform extra checks, which could take up to 3 days. We’ll get in touch with you once those checks have been completed so that you can finish your application.

If you miss a payment, you can call us on 0808 175 4019 and pay any money you owe. You won't be charged for any late payments. But depending on your situation, your credit file may be impacted by missed or late payments.

If you’re having trouble paying back your loan, or you think you may struggle in the near future, please get in touch as soon as possible:

• Chat to us by logging in to your loan account and selecting the icon in the bottom right of the screen
• Email us on [email protected]
• Call us on 0808 175 4019 (Monday to Friday - 9am to 5pm; bank holidays - closed)

Where to get help:

There are a number of organisations who give confidential and impartial debt advice. Contacting them is free and won't impact your credit score.

• Citizens Advice
• Money Helper
• StepChange
• National Debt Line