Frequently asked questions

Can anyone apply for a personal loan?

In the UK, you generally need to be over eighteen years old and employed (whether full-time, part-time or self-employed). Secured personal loans are only available to homeowners. Student loans have their own requirements and criteria.

Is payment protection necessary?

As with any form of insurance, payment protection is optional but it is an important consideration especially for secured personal loans because your home is at risk if you fall behind on your payments. Keep in mind that there are payment protection packages available from other sources besides your lender, and you may be able to get a better deal from an insurance company.

What is a credit search?

This is a standard part of the loan application process where your lender conducts a search for your credit history through a third-party reference agency.

When can I expect to receive the money I’ve borrowed?

The amount is usually deposited into your bank account three to seven days after your loan application receives its final approval.