LiveLendGroup 2

Your Loan

How do I receive my annual statement?

Your annual statement will be sent to you by email, but is also available online. Simply log in to your account and select the Messages tab at the top of the page, to review all your loan documents, including your annual statement. This will be available one year after you have taken your loan. 

I cancelled my Direct Debit by accident, how do I set it back up?

To set your Direct Debit back up, please follow the steps below:

  • Log in to your LiveLend account
  • Click the set up a Direct Debit button on the Overview page

It’s important that you have a Direct Debit set up to help you make your monthly repayments on time. 

What credit score do you use to decide if I'm eligible for a reward?

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.

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 13.3% to 39.9%

Representative Example: 25.9% APR Representative based on a loan of £5,000, repayable over 42 months at an interest of 25.9% pa (fixed). Monthly repayment of £175.08. Total amount payable £7,353.49 Our representative APR applies to loans from £1,000 to £12,000, for terms of 12-60 months.

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.

Are my details stored safely?

Your details are held on our secure systems and we'll only discuss your account with you or a party who you nominate, once you've completed our security checks.

LiveLend is part of Chetwood Financial Limited, company number 09964966, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 740551.

We’re also registered with the Information Commissioner's Office under registration ZA218401 and we’re a member of CIFAS, the UK's leading fraud prevention service.

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.

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 .

Where do I find information about my Direct Debit

You can find full details of your Direct Debit when you log in to your account, in Messages.

How do I change my bank details for payments?

If you’d like to change the bank account your monthly repayments are taken from, follow the steps below.

First, check we can verify your new details online:

  • Log in to your account
  • Click Account
  • Click View my details
  • Scroll down to Bank details
  • Update the fields with your new bank account details

If you prefer, you can use the Current Account Switch Service which will automatically transfer your Direct Debit across. Learn more about the Current Account Switch Service.

The bank account must be:

  • In your name
  • Registered to your address
  • Able to accept Faster Payments
  • Able to set up Direct Debits

Changing your bank details won't automatically update your Direct Debit. If you need to change your Direct Debit, get in touch with us.

As a responsible lender, it’s important that we can verify your new details. If we can’t, you won’t be able to use a different bank account and we’ll continue to take your loan repayments from the bank account we verified when you took out the loan with us. If you’ll struggle to make your repayments from this account, get in touch with us so we can help.