LiveLendGroup 2

Your Loan

When will my reward be applied to my Reward Loan?

Every three months, we'll do a reward review to see if you've qualified for a reward. If you have qualified for a reward, we'll put your rate down straight away. We'll do this automatically, so there's no need for you to do anything. We'll apply your reduced loan rate to your next loan repayment. This means your monthly repayment will be less. We'll send you an email to let you know how much your loan rate is reducing by.


 

How do I change my phone number?

You can change your personal details online. Simply log in, click on Account and update your details.

I already have a loan with you, can I borrow more?

Our customers aren't currently able to borrow more on top of their existing loan. We're working hard so that we can offer this in the near future.

If you need some extra support with your loan repayments or would like to chat to us about your loan in general, get in touch with us so we can help.

Can I earn more than one reward every 3 months, on my Reward Loan?

Yes, we don't limit the number of rewards you can get at each review period. So, if your credit score increases by 100 points, we'll reduce your loan rate by 8%. You can continue to earn rewards every three months, as long as you're up to date with repayments, if your score has increased by 25 points or more.

Your loan rate can reduce all the way down to 9.9% so if your loan rate is 9.9%, you won’t be able to earn a reward.

Our loan APRs (Annual Percentage Rates) start at 14.3% to 39.9%.

Representative Example: 29.9% APR Representative based on a loan of £5,000, repayable over 42 months at an interest of 29.9% pa (fixed). Monthly repayment of £183.74. Total amount payable £7,717.27. Our representative APR applies to loans from £1,000 to £12,000, for terms of 12-60 months.

Why has a monthly repayment been taken after I've settled my loan?

If your usual monthly repayment date was due to be taken three working days or less after the date you settled your loan, we wouldn't have been able to cancel your Direct Debit in time. This means that your regular repayment would've been taken as usual but we'll refund the money back to you as soon as we can.

Get in touch if you'd like to speak to us about this.

My circumstances have changed, what do I do?

If you’re aware of any change in your current circumstances, and think you may struggle to make your next repayment, please get in touch with us so that we can help you. 

Alternatively you can update your personal details online by logging in and clicking Account.

How do I unsubscribe from emails or texts?

You can easily unsubscribe from emails or texts by logging in, clicking on Account and scroll to the preferences section at the bottom of the page. Here you can select how you want to receive communications, and also which types of communication you would like to receive.

Please bear in mind that even when you unsubscribe, there are some communications that we're obliged by law to send. 

How do I find out how much I have left to pay on my loan?

Viewing your loan information couldn’t be easier. Simply log in to your account and select Overview. Your current balance is shown at the top of the page.

If you're thinking about closing your loan early, it’s important that you get a quote first so that we can calculate the total settlement amount required to fully close your loan. Find out more about closing your loan early .

How do I improve my credit score?

There are three Credit Reference Agencies (CRAs) in the UK - Equifax, Experian and TransUnion. They all have different scores but this is completely normal. All three are dedicated to collecting information on your financial behaviour and how it has impacted your score.

It’s good practice to look at all of your credit scores on a regular basis so you can keep an eye on any changes. You can get to know your credit score better with free credit reports using the links below:

Learn more about the Reward Loan.

Why haven't I earned a reward?

This could be down to a number of reasons.

We review your eligibility for a reward based on a credit score provided by Equifax. This score is called a ‘management score’. It’s different from the score you’ll see on your credit reports which show you how likely you are to get accepted for credit. It’s shared with us from Equifax so that we can measure your score movement over time. We compare this score against a score taken directly from Equifax on the day that you apply for our loan. 

We use this score to review your eligibility for a reward every three months. Your score will need to be at least 25 points higher in order to earn a reward and you'll need to be up to date with your loan repayments.

Your loan rate can reduce to 9.9%, so if your loan is at 9.9% or below, you won't be able to earn any more rewards.