Question 1

Who can apply for a loan?

Accepted Answer

You’ll need to be:

• Between the ages of 21 and 65
• Living in the UK (excluding Northern Ireland, the Channel Islands and the Isle of Man)
• Employed and earning £18,000 or more (it doesn’t matter if you’re paid monthly or weekly

Please note that we are not currently accepting self-employed applicants.

Question 2

What’s a soft credit search?

Accepted Answer

A soft credit search gives a view of your credit history without impacting your credit score. Other lenders won’t be able to see the search has been made. We run a soft search when you request a personalised quote, and then show you the APR you will be offered if you go onto take out a loan with one of the credit unions we work with.

If you go onto accept your loan agreement and apply for the loan, we will run a hard credit search and get more detailed information about your credit history. Unlike a soft search, this can affect your credit score and other lenders will know about it. If you have a lot of hard searches in a short period of time, it can make lenders less likely to want to lend to you as it could look like you are becoming reliant on credit.

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