F.A.Q.

Frequently asked questions

Have you been impacted by the increased cost of living? We’re here to support you.

We appreciate the rising cost of living is impacting everyone in different ways and this may mean that you have concerns about your financial situation. If you're worried about maintaining your priority bills such as rent/mortgage, utilities and food alongside maintaining your repayments towards your loan then, rest assured, we’re here to help and are committed to providing you with tailored solutions to suit your individual circumstances.

What support is available:

Our friendly Financial Support Team is ready to talk to you and discuss the range of options, for both the long and short term, to help get you back on track, no matter what your situation is.

Please note that any support we provide is likely to be reflected on your credit file and we will let you know what this will mean for you based on your individual arrangement

So that we can ensure that we are supporting you as best as we can, we may need to ask some questions about your circumstances or complete an income and expenditure assessment with you.

We understand that this might be difficult to discuss but the more we understand what you’re going through, the more we will be able to help. When you get in touch with us, please let us know why your income and/or outgoings have been impacted and the effect this has had on what you can afford to pay, for example:

Your energy bill has increased or you are unable to afford essential expenses, such as food. You were previously able to make your contractual payment of £200 but £75 a month is more affordable right now.

You can get in touch with us by

You may also be able to log into your account online to let us know what would be an affordable repayment amount for you and may be able to set up a payment plan.

We are always committed to responding to your emails in a timely manner but in periods of high demand, it could take up to 3 working days to reply. If you have an upcoming payment or an urgent query, please don’t hesitate to call us.

Free impartial advice:

Although we're always available to help where we can, there are also several organisations that can provide you with free, impartial advice and support during difficult times, including:

These companies are equipped to offer a range of resources, including; tailored advice around the rising cost of energy bills, budgeting tools to help with managing your expenses and guidance on alternative debt solutions to support you with your finances during this time.

Tell me more about Lendable

  • Lendable is an online personal loans platform serving the UK. We set up Lendable in 2014 with a mission to bring personal finance into the digital age and make borrowing money a customer-friendly, hassle-free and convenient experience. Lendable is registered with the UK Financial Conduct Authority and relevant fraud prevention and data protection services.

  • Our platform provides a fast, secure, personalised service. Requesting a quote takes minutes - no long, cumbersome forms to be filled out here! We carry out soft credit searches only, so requesting a quote from us does not affect your credit rating. If your loan request is approved we transfer your funds immediately and the money should be with you within 2 hours. You can repay your loan early at any time (meaning you’d pay less interest back overall!). We make every effort to offer all our customers fair treatment and good service.

  • We are a direct lender.

  • To request a quote, please enter your details into our short form. It should only take a few minutes - this is the only form you will need to complete. After you apply for a loan we make an instant decision on whether we can provide you with a quote. We are unable to provide quotes over the phone.

  • This is pretty much immediate but can take up to two hours (sometimes a little longer during evenings, weekends and bank holidays). We’ll send you an email with the details once the loan is on its way to you.

  • We offer loans between £1,000-25,000 with terms ranging from 1-5 years (although you can pay your loan off early at anytime - we don’t charge you for this).

  • When you take out a loan with Lendable, a non-refundable loan fee is added to the loan amount. You do not pay this fee upfront, it is paid via the monthly instalments which are set out in the Terms of the Loan Agreement. The loan fee and interest due on this fee is taken into account in calculating the Annual Percentage Rate (APR). Your quote will detail exactly how much the loan fee is.

  • Our basic criteria are:

    • You do not have any CCJs
    • You regularly get paid at least £800.00 per month
    • You have been living in the UK for at least 3 years

    If you pass these criteria, enter your details into our short form, which will take a few minutes at most. We look at hundreds of data points from your credit file to make our decision and provide you with a personalised quote. Unlike many other lenders, we only perform a soft credit search, so requesting a loan quote from Lendable will not affect your credit score!

  • Your first repayment will be taken exactly one month from the day the loan is disbursed to you. For example, if your loan is disbursed on the 5th of the month, your first payment will be taken on the 5th of the following month. You can select a different date if you’d like - you have the option to do this when you enter your bank details.

  • No. When you check your eligibility with Lendable we only perform a soft search which will not affect your credit score. You might see a soft search on your credit file after searching on a price comparison website for a quote. Other lenders can’t see this soft search.

  • Yes. If you decide to take out the loan then we will perform a hard search once you have accepted your loan offer and passed all the checks we need to do. We will also update the Credit Reference Agencies to let them know that you’ve taken a loan with us. This might affect your credit score and other financial providers will be able to see this search.

  • Your application is now with our decisions team. They are reviewing the information provided and will be in touch shortly by email to let you know if the loan has been approved.

  • Lendable loans are not intended to be used for short-term credit. If you plan to pay your loan back in full very early into your loan agreement, a Lendable loan probably isn’t for you. However, we understand that your plans can change and you have the right to pay back your loan at any time, but your loan fee is non-refundable and will not be rebated.`

I have requested a Lendable quote

  • Your account is now with our decisions team and we’ll be in touch shortly. There’s nothing further to do and you don’t need to stay logged in. We’ll send you an email letting you know the loan is on its way to you, or if we require any additional information. We are open daily from 9am to 6pm. We have a smaller team working at the weekend, and it can sometimes take us a little longer to get back to you.

  • You can login to view and accept your Lendable quote at anytime. Simply go to our login page page and enter your email address. We’ll then send you a login link, and clicking on this will take you into your Lendable account. No passwords, usernames or secret messages necessary.

  • Documents can either be uploaded in your Lendable account, or emailed to contact@lendable.co.uk. We can accept pictures of the original documents taken on a smartphone, please just ensure all the details are visible.

  • We’ll send you an email with the details once the loan is on it’s way to you. This is often pretty much immediate but can take longer if we need to review your documentation (for example, during evenings, weekends and bank holidays).

  • When you take out a loan with Lendable, a loan fee is added to the loan amount which is a charge for using our service.

    The loan fee is based on your individual circumstances.

    Your quote will detail exactly how much the fee is. There are no hidden charges and no money will be asked for upfront. The fee is part of your monthly repayments (as shown in your quote), with the first repayment due a month after you have received the funds.

  • This means that we have performed a soft credit search and have been able to provide you with a quote. As long as we can verify the necessary information, we’ll get the loan to you right away if you decide to go ahead. Please note all quotes are subject to manual review by our decisions team, however even if we can’t proceed, this still won’t affect your credit score.

  • When you request a quote from Lendable we assess hundreds of data points enabling us to provide a rate personalised to your circumstances. If you have come through a comparison site you will have seen a representative APR, which is why the rate we provide may be slightly different. As our rates are personalised they are non-negotiable.

  • Unfortunately, it’s difficult to say exactly why we are not always able to provide a loan. When you request a quote we assess hundreds of data points so there is often not one specific reason someone gets declined. We work with our partnering credit reference agency, TransUnion, to perform a soft credit search. There is a free service that allows you to view your TransUnion file (www.creditkarma.co.uk). We are sorry we couldn’t help you this time, but please feel free to re-apply at a later stage.

  • You can pay back your loan in full at any time by providing us with notice, but if you plan to pay back your loan very early into your loan agreement, an Lendable loan probably isn’t for you. The fee that is included in your loan amount will not be rebated. To provide notice please login to your account here and click ‘Request a settlement quote’. Once we receive your notice that you wish to repay your loan in full, we will then provide you with a settlement figure.

    You can also choose to repay your loan in part at any time. Please note that if you choose to settle the loan early in full, or in part then we may reduce any rebate to which you are entitled by 28 days interest, (or 58 days interest where your loan term is longer than 12 months). We are entitled to this interest under the Consumer Credit (Early Settlement) Regulations 2004.

I already have a Lendable loan

  • To login, enter your email address on our login page. We will then send a link to your email address which will log you in automatically.

  • If you’d like to take out further credit with Lendable we can look into this for you. Any supplementary credit would act as a separate loan. Taking out another loan is only possible after you are at a certain place in your repayments. You can find further information on how to do this in your Lendable account.

  • To make an early repayment or repay in full, please login to your Lendable account. There you will see a section called “Manage”, where you can enter the amount you want to overpay. We will then take this by a one off Direct Debit, from the account we have set up for you. If you want to pay the full remaining balance then select the “Request a settlement quote” option.

  • The monthly repayments you see in your quote are fixed. We are unable to reduce these over the course of your loan, but if you’d like to increase them (meaning your loan gets paid off quicker) this is something we can do for you. Get in touch at contact@lendable.co.uk and someone will help you out.

  • After taking out a Lendable loan you have up to 14 days to change your mind and cancel the loan (only paying back the amount we sent you, with no interest or fees attached). If you would like to do so please get in touch at contact@lendable.co.uk.

  • To change your repayment date, please login to your Lendable account and navigate to “Schedule”. Otherwise drop us an email at contact@lendable.co.uk and we’ll do this for you!

  • To update your address, please login to your Lendable account and navigate to “Manage”. To update any other details for your account (including bank details) please just send us an email with the new information to contact@lendable.co.uk.

  • You are advised to contact us immediately at contact@lendable.co.uk or by calling us on 020 3322 1948 if you are experiencing financial difficulties and believe that you will be unable to meet your repayment.

    We appreciate the rising cost of living is impacting everyone in different ways and this may mean that you have concerns about your financial situation. If you're worried about maintaining your priority bills such as rent/mortgage, utilities and food alongside maintaining your repayments towards your loan then, rest assured, we’re here to help and are committed to providing you with tailored solutions to suit your individual circumstances.

    Any support we provide is likely to be reflected on your credit file, and we will let you know what this will mean for your credit file based on your individual arrangement.

    We will never ask you to make a payment that is unaffordable.

    Although we're always available to help where we can, there are also several organisations that can provide you with free, impartial advice and support during difficult times, including:

    These companies are equipped to offer a range of resources, including; tailored advice around the rising cost of energy bills, budgeting tools to help with managing your expenses and guidance on alternative debt solutions to support you with your finances during this time.

    If you’re facing problems that are making life difficult, such as a bereavement or divorce then you can also contact the Samaritans for support or phone 0800 116123

  • Please visit our dedicated support page here to find out what free, independent advice is available to you

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