LiveLendGroup 2

Your Application

Why have you done a credit search on me?

If you've used comparison websites to search for a loan, such as ClearScore, TotallyMoneyCredit Karma or Experian, then we might have conducted a soft search to see if we can offer you a loan. You'll be able to see this soft search on your credit report, but other lenders won't be able to see it, and it doesn't damage your credit score.

If you've applied for a loan with us we'll do a soft search, also known as a quotation search, to work out whether you’re approved for our loan. Only you will be able to see this on your credit report.

If you believe that you haven't applied for a loan, on our website or through a comparison site, please get in touch with us and we'll take a look for you.

Who can apply for a LiveLend loan?

To be eligible for a LiveLend loan you need to meet the following criteria:

  • Be at least 18 years old
  • Be a UK resident 
  • Be employed, self-employed or retired with a pension
  • Have an income of at least £12,000 per year (before tax)
  • Have a credit history that we can see, and a good track record of repaying debt
  • Be able to afford the loan

All our loans are subject to status and our credit checking.

We don’t offer joint applications, guarantor loans or loans to businesses.

What do you mean by no credit footprint?

At LiveLend we only use soft searches, also known as quotation searches, to work out whether you’re approved for our loans. Soft searches are different from credit application searches, which happen when you actually apply for a product. Too many credit application searches in a short space of time can damage your credit score.

A soft search, on the other hand, will let you know whether you’re eligible for the loan before you apply. That means we’re taking the guesswork out of applying for credit and protecting your score. You can get your quote by using our loan calculator and clicking 'Get my quote'

What proof of identity will I need to use?

We don’t require any documentation from you online.  As part of your soft search we will verify your identity and if we have any further questions or cannot match your information online, one of our expert team will call you directly.

I don't have a perfect credit rating, can I take a loan with you?

Yes, at LiveLend, we understand that people miss payments from time to time, but we also want to make sure you can afford to repay the loan. So, we use lots of data to help us make our lending decision, and we’ll pick up the phone for a chat if we have any questions.

Can you pay my loan into someone else's account?

No, your LiveLend loan can only be transferred into the same account that your monthly Direct Debit will be taken from. This account must be in your name and registered to your current address.

Can I apply for a Reward Loan?

Since the 29th November 2018, we only offer the Reward Loan. When you apply for a loan, we'll do our usual checks to make sure our loan is right for you.

You can get a quote online in just two minutes and we’ll do it in a way that doesn’t impact your credit score. Get your quote today by using our loan calculator and clicking 'Get my quote'.

Our loans are 29.9% APR Representative.

Why can't you verify my bank details?

As a 100% digital bank, we use online electronic tools to verify your details.

When sharing your bank details during your loan application, it's important you check that:

  • Your bank details are correct
  • The bank account is registered in your name and current address
  • Your bank accepts faster payments

You have a total of three attempts to submit your bank details. If we haven't been able to match your details during your first attempt, you can try entering a different bank account as long as it fits the criteria above.

If we’re still unable to verify your details, it may be that your bank account is one that hasn’t adapted to the industry standard, that came into effect in 1998, where established banks share useful information directly with credit reference agencies (CRAs) and online financial services like ourselves. Some of the accounts that fit this criteria are listed below.

  • Bank accounts opened before 1998
  • Some of the new challenger banks

Our digital approach allows our customers to manage their loan completely online wherever they are but it also means we keep costs low so that we can continue to offer great rates. This does mean, however, that some customers won’t be able to take a loan with us, depending on who they bank with, as we mention above.

Unfortunately, if we can’t match your account then you won’t be able to take a loan with us right now. We welcome more support from established banks to increase the number of accounts they share with us. Until then, we’re working hard to welcome even more customers to LiveLend.

Why can't you verify my personal details?

As a responsible lender, it's important that we can verify the following details during your application:

  • Your name and date of birth
  • Your email address
  • Your phone number
  • Your address history and residential status
  • Your employment status
  • Your income and expenditure, including essential expenses and financial commitments

We also use a Credit Reference Agency (CRA), along with the information you tell us, to help correctly match your details and make a lending decision. CRAs such as Equifax, TransUnion and Experian, collect information about your which helps lenders verify your identity.

If the personal details they hold about you are not up to date or don't match what you've entered during your loan application, this may be the reason we can't verify your identity right now.

It's important that you make sure the information CRAs hold about you is correct. You can check what information they have by clicking the link below and accessing your credit report.

www.equifax.co.uk
www.transunionstatreport.co.uk
www.experian.co.uk

What is a soft search?

At LiveLend we only use soft searches, also known as quotation searches, to work out whether you’re approved for our loans. Soft searches are different from credit application searches, which happen when you actually apply for a product. Too many credit application searches in a short space of time can damage your credit score.

A soft search, on the other hand, will let you know whether you’re eligible for the loan before you apply. That means we’re taking the guesswork out of applying for credit and protecting your score. You can get your quote by using our loan calculator and clicking 'Get my quote'