LiveLendGroup 2

Your Application

Can I cancel my application?

Sure, you can cancel your application at any time before you receive your loan. You don't need to let us know, your quote will automatically expire.

If you have received your loan but have changed your mind, you have 14 days from receiving the money to tell us that you would like to withdraw from your loan agreement. We'll never charge you a fee to close your loan early. If you decide to cancel your loan within 14 days we also won't charge you any interest, so long as you pay us within 30 days of cancellation.

Can I pause my application and come back to it?

No, not yet, but we know you're busy, so we give you your quote in just two minutes. Your quote will let you know whether you can take out our loan, and we’ll also give you your real rate. That way, you’ll know exactly how much your loan will cost. The rest of the application will take just another three minutes and we’ll transfer your funds immediately so your money is in your account in under four hours. You can get your quote by using our loan calculator and clicking 'Get my quote'

Our loans are 24.1% APR Representative.

What can I use my loan for?

You can use your loan for almost anything you like, from a new car to improvements to your home, or to help you consolidate your debts into one monthly payment. We don't offer loans for investment purposes or for purchase of residential property. We don't offer loans to businesses.

How do you decide what rate to charge me?

We think representative rates are confusing. So, when we give you your quote, we’ll also give you your real rate. That way, you’ll know exactly how much your loan will cost. This is a rate individual to you, worked out based on the information you provide us with as part of your application, any information we might already know about you, and the information provided to us by our Credit Reference Agency.

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.

What do I need to include in my monthly expenses?

You should include your essential expenses and financial commitments.

For example: 

  • Your share of the mortgage or rent
  • Any existing loan or credit card repayments
  • Utility bills such as gas, electricity, water, council tax
  • Any monthly commitments such as mobile phone, broadband, sky, insurance
  • Food costs
  • Childcare costs
  • Travel costs

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'

How much can I borrow?

We offer online personal loans from £1,000 to £12,000. We make responsible lending decisions because a loan needs to be good for you and us. We want to make sure you can afford to repay the loan.

At LiveLend we'll consider your personal situation, including your income and your financial commitments, before we make a lending decision, and we’ll pick up the phone for a chat if we have any questions.

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.