Loan top-up

You may find yourself in a position where you need access to extra funds. Applying for a top-up to your UK Credit Guarantor Loan could be the answer. Provided your Guarantor is a homeowner and you’ve made your last twelve months contractual repayments in full and on time, you could be eligible to borrow more.

Can I apply?

Not all of our customers will become eligible to apply for further funds. You’ll need a homeowner Guarantor to apply, this could mean you bring in a new Guarantor for your top-up. Most customers become eligible once they have made their first twelve month’s contractual payments in full and on time. You can apply for a top-up at any time after the twelve-month qualifying period, provided both you and your Guarantor continue to meet our initial criteria. Please note, the maximum number of loans we will grant to any customer, including top-ups, is two. So if you have already had one or more top-ups previously, we will not be able to help.

To get your application started, you just need to give us a call on 01603 369 100 and one of our friendly team will be happy to guide you through the process.

As with all loans, top-up applications are still subject to credit and affordability checks on both you and your Guarantor. Applications are not a guaranteed pay out.

How does it work?
Topping up your existing loan works by combining the remaining balance of your existing loan with the top-up amount to create a new loan with one monthly repayment.
How much could I borrow?
Our minimum top-up amount is £3,000 of ‘new money’. So, if for example, your current balance is £1,000, we would provide you with a brand new loan of £4,000 (incorporating the current balance of £1,000 plus the minimum top-up of £3,000). The original loan would be paid off, so you would only be left with one new repayment.
Top-up example
If the balance of your existing loan is £5,000, and you wanted to borrow another £3,000 you would need to apply for a new loan of £8,000. £5,000 of this would be used to settle your original loan and the other £3,000 would be paid out to you via your Guarantor’s bank account.
Please be aware that if you choose a new loan term longer than the remaining term of your original loan, you may pay more interest on the original amount you borrowed.
What can I apply for a top-up for?
Top-ups can be used for many purposes, so whether you need to fund some home improvements, repair or replace a vehicle or even to consolidate some other debt – a top-up may be the solution for you. We should remind you, you should always consider if you need the loan before making a top-up application.
You can continue to use the same Guarantor for your top-up, provided they agree and meet our requirements. Alternatively, you can use a new Guarantor – the choice is yours!
If you would like to top up your loan or discuss topping up your loan call our team on 01603 369 100
Can I have another loan after I’ve paid off my existing loan?
If you’ve paid off your loan with us and find you require more funds, simply give our team a call on 01603 369 100. If you have already more than one loan with us, we will not be able to help any further.
Keeping in touch
We may contact you to let you know when you’re eligible to apply for a top-up. If you want to receive this information, you can update your marketing preferences in our preference centre.