Here you’ll find a list of the most frequently asked questions from customers about our loans and the application process. If you can’t find your answer here, just give us a call on 01603 369 100 and a member of our team will be happy to help.

I have a help to buy or shared ownership mortgage, can I get a loan from you?

Yes, we class those with help to buy or shared ownership mortgages as homeowners.

What can I use the loan for?

We can lend for a variety of purposes including home repairs/improvements, car finance, debt consolidation, weddings and more.

However, there are a number of reasons we will not lend, for instance, we cannot offer you a loan for commercial purposes, such as setting up a business, or for investment or gambling purposes. We also do not lend for general living expenses.

Will taking out this loan affect my credit rating?

When you apply we’ll only conduct a soft credit search which won’t affect your credit rating. This type of search is only visible to you on your credit file, other lenders will not be able to see this.

If we pay out a loan, we will report this to the credit reference agencies and this will be visible to other lenders. Taking out new loans may have an impact on your credit rating.

Are UK Credit Loans secured?

No, UK Credit’s loans are not secured against any property or vehicle you own.

Is UK Credit a Broker?

No, we’re a direct loan lender. We work with a number of introducing brokers who are paid a commission or a fee by UK Credit to cover their costs. You can find details of any commission paid in the loan agreement. UK Credit brokers will not charge customers upfront (payable in advance of getting a loan) broker fees under any circumstances.

If a broker has charged you a fee, we would like to know – even if the loan does not complete.

Do you charge any fees?

UK Credit will not charge you any upfront fees to apply for your loan, and no fees will be added to your loan agreement. We choose our partners and brokers carefully to ensure that they share our passion for treating customers fairly and for providing excellent customer service.

There may be other fees or charges which may be applied to your loan after it has been paid out, for example, fees to cover the cost of any legal proceedings to recover the money you owe. Full details can be found in our Tariff of fees and charges.

Will the repayments increase during the term?

No, unlike many lenders our interest rates are fixed, not variable. Your monthly contractual repayment will not increase over the term of the loan.

Do I need to speak English to borrow from UK Credit?

Yes, we need to speak with you over the phone in English and you need to be in a position to read the loan agreement and supporting documents which are also in English, to ensure that you fully understand the contract you are entering into.

Can I change my mind?

Yes. At any stage of the loan application process, you can change your mind. You will not incur any costs.
Once the loan has been paid out, you can withdraw from the agreement by letting us know within 14 days (beginning the day after we transferred the money to your account). You will then need to return all of the funds advanced (the total amount borrowed) to us within 30 days of giving notice of withdrawal.

This must be paid to us by cheque, bank transfer or debit card. Full terms and conditions are provided in the loan agreement.

I have a Guarantor Loan with UK Credit/I’m a Guarantor – where can I find information?

We have a dedicated Guarantor loans customers page which should have answers to all questions about our guarantor loans. You can also give our customer care team a call on 01603 369 250 if you would like to discuss your guarantor loan.

Where can I find answers to my questions about making loan payments?

Please visit our payment help page or give our customer care team a call on 01603 369 250.

How do I make a complaint?

Details of how to make a complaint, as well as our complaints process, can be found on our complaints page.

I received communication from you but I haven’t applied for a loan

If we’ve been in touch about a loan application in your name, but you’re not aware of this please get in touch with us as soon as possible by calling 01603 369 100.