FAQ

To be eligible for one of our short term loan products, you need to meet the 3 primary eligibility requirements. You must be over 18 years old, have a UK address and phone number and have a regular income paid into a UK current account. The income can be derived from regular employment, working for yourself (self-employment) and in some cases benefits and pensions.

Our flexible approach to lending allows you to borrow as little as £100 right through to £5,000 (and any amount in between). The loans can be taken over 1 month right through to 36 months (3 years) thus allowing for increased flexibility. On occasion, a lender may suggest a different loan amount or term based on what they consider to be affordable.

There are no charges associated with early repayment of your loan. Some lenders may require you to repay the month you're currently in or calculate a pro-rata repayable balance including all interest accrued. But there are no separate charges of any kind.

Yes. And in fact, we welcome applicants with a low, poor or even outright bad credit rating. Our lender network features specialised lenders who tend to consider the affordability of the loan in question over traditional credit scoring and history. So if you need a loan and have surplus cash month to month to service it, then it's well worth applying.

No, there are no fees, advance or otherwise associated with any part of the Pounds to Pocket service. Upon acceptance of the loan terms presented to you, you will be informed of your monthly repayment obligations. This is the only amount you'll pay ongoing. Beware of lenders (or brokers) requesting payment in order to apply.

No, all of the loans offered on Pounds to Pocket are what is known as cash-for-any-purpose loans. As the name suggests, these loans can be used however you design and you do not need to prove what you have used the loan for. Our application form does ask what you intend to use the money for but this is simply for reporting procedures and not something that forms any basis of your application.

We request an applicant's account number and sort code during the application process so we do not need to repeat the process in order to transfer you the funds in the event of a successful application. It does not form part of the formal credit checking procedure.

If you apply for a loan during regular business hours, it is highly likely the lender you are matched with will send you the funds on the same day. If you were to apply during the evening, weekend or public holidays then it may be delayed until the following business day. Transfer times at your own bank should also be considered as some banks only process incoming transactions periodically.

When you submit an application, our lending partners will perform what is known as a soft search or soft pull of your credit report. This is primarily to confirm your identity and eligibility and it contains similar information to that which you would likely see if you ran your own report. It has no negative effect on your credit profile and can be run an unlimited amount of times with no issue.

Pounds to Pocket is strictly a no guarantor loan service. You will not be afforded the opportunity to propose a guarantor in the event that your loan application request is unsuccessful. Please enter all of the data requested in the application form as accurately as possible and above all else, make sure you can afford the repayments on the loan you are applying for. Applicants with no surplus funds to service a loan will be refused regardless of credit rating.