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Loan Application Process Guide

 

Complete the online application form

Use our loan calculator to decide how much you'd like to borrow and for how long, and apply in 10 minutes online if you're eligible.

Decision time

We'll use the information you give us to check your details and credit history and email you to confirm your eligibility for the loan. We may need to request further information before we can make a decision. This can take between 0-2 business days.

Loan agreement form

If accepted we'll send you your pre-contract information including a loan agreement form, a standing order mandate and a pre-paid envelope within 2-5 working days. Sometimes we may request proof of ID or address.

Read, sign and return

You will need to read and sign and return the agreement form, complete and sign the standing order mandate and return them to us in the pre-paid envelope.

Money transfer

Once we have received your signed agreement form and standing order mandate we will send you a confirmation letter, along with a copy of your agreement form for your records in 1-2 working days and the money will be available for you in 3 working days (1 working day if transferred to a Co-operative Bank Current Account).

Loan Application Outcomes

Accepted
On acceptance we will send you your pre-contract information, including an agreement form for you to read, sign and return to us. Once we've received your signed agreement form we will transfer your funds and send you a confirmation letter, along with a copy of your agreement form to keep for your records.

Referred
If your loan application is referred, it usually means we need to undertake some additional checks or request some further information before being able to make a decision. Once we've received the necessary information, we will be able to make a final decision on your application.

Declined
Our decisions are based on individual circumstances. If your application is declined, we will let you know the reason for our decision. If this involved information from a Credit Reference Agency we will give you details of the Credit Reference Agency involved in the decision.

To improve your chances of being accepted you can:

  • Ensure you stay within any existing agreed credit limits
  • Keep up-to-date with any existing loan/card repayments
  • Be aware of what's on your credit file
  • It is also important to provide full and accurate information on the loan application

 

Ready to apply?