Frequently Asked Questions

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Declined
Why have I been declined for a loan?

Why have I been declined for a loan?

There are several reasons you may have been declined for a loan 😒

IVA or bankruptcy
Too much other debt
You won’t be able to afford repayments
You took out another loan very recently
Each lender will have their own ‘risk criteria’ and you may not pass these standards
Your guarantor has been declined, so you may need to find another

> See guarantor and no guarantor loan deals <

For loans over £1,000

Representative 49.9% APR

Representative example: If you borrow £3,250 over 36 months at a Representative rate of 49.9% APR and an annual interest rate of 41.16% (fixed), you would pay 36 installments of £158.57. The total charge of credit will be £2,464.57 and the total amount payable will be £5,714.67

For loans less than £1,000

Representative 99.8% APR

Representative example: If you borrow £500 over 52 weeks at a Representative rate of 99.8% APR and an annual interest rate of 99.8% (fixed), you would pay 52 weekly installments of £13.41. The total charge for credit will be £197.32 and the total amount payable will be £697.32.

IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk