F.A.Q.

Frequently asked questions

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

We understand the rising cost of living is impacting everyone in different ways and you may be worried about your finances at the moment. We're here to help you if you're struggling to pay your priority bills such as your rent or mortgage, utilities and food alongside your Lendable loan repayments.

How we can support you:

Our Financial Support Team is here to help you. We're ready to look at both short and long-term solutions to help you regain financial stability, regardless of your current situation.

To best support you, we may need to ask about your circumstances, and your income and outgoing costs (known as an Income and Expenditure assessment). We understand this may be difficult to discuss but the more information we have, the better we can help you. It’s important for us to understand how any changes in your circumstances have affected you making your loan payments e.g. if an increased energy bill or essential expenses like food have impacted your budget.

Please be aware that any solutions we put in place may impact your credit file.

Remember, we're here to help you with these challenges. Please contact us, and we can work through this together.

You can contact us by:

We are committed to responding to your emails as soon as we can. During busy times, it can take up to 3 working days to reply. If your loan repayment is due within the next 3 days or you need urgent support, please call us on the number above so we can help you straight away.

Free, impartial advice is available:

We will always try and help you where we can but you may also benefit from free, impartial debt advice. There are several organisations that can help you think about and organise all of your debts, and help make arrangements with your lenders. There are also organisations that offer specialised services for other difficult circumstances you may be experiencing such as mental health and addiction services.

Please visit our dedicated support page here to find out more about the services available to you.

I already have a Lendable loan

  • To login, enter your email address on our login page. We will then email you a link to access your account.

  • We are unable to top up your current Lendable loan. If you are eligible and have met our criteria with your existing loan repayments then we may be able to offer you a second loan. You can find out if you are eligible for a second loan by logging in to your Lendable account.

  • We are unable to combine your Lendable loans into one loan amount. You can have a maximum of 2 Lendable loans at any given time, and each of your Lendable loans will be considered individual loans with separate monthly payments.

  • You can make extra payments to your loan at any time without any additional charges or penalties being applied. Extra payments will be deducted from the total value of your loan.

    Before making any extra payments to your loan, please think carefully about whether this is affordable.

    If you make extra payments your current monthly repayment amount will remain the same, and your loan term may decrease which may reduce the overall amount of interest you pay.
    To make an extra payment,

    • Log into your Lendable account.
    • Go to the ‘Manage’ section and input the extra amount you want to pay.
    • We will take the extra payment as a one-time Direct Debit from your registered bank account..

    If you want to repay your full loan balance, then you can do so by selecting the 'Request a settlement quote' option.

  • You can repay your loan balance early. To check how much it will cost, login to your Lendable account. In the ‘Overview’ section, select 'Request a settlement quote'. The quote will include:

    • the remaining balance on the amount you borrowed;
    • the loan fee;
    • any interest that has accrued up until the settlement quote date and;
    • 28 days of additional interest if your remaining loan term is less than 12 months; or
    • 58 days of additional interest if your remaining loan term is longer than 12 months.

    We're entitled to this additional interest under the Consumer Credit (Early Settlement) Regulations 2004. When you request a settlement quote you'll be able to see how much you are saving compared to continuing to make your monthly repayments.

  • 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) we can do this for you. Get in touch at contact@lendable.co.uk and someone will help you out.

  • If your monthly Direct Debit repayment fails, we will re-attempt your Direct Debit payment 3 more times. Before we reattempt any Direct Debits, we will send you a reminder via email and SMS.

    If we cannot collect your Direct Debit payment, you can make a payment via debit card or a one-off Direct Debit. To make the payment

    • Log into your Lendable account.
    • Go to the ‘Manage’ tab
    • Select your preferred payment option
  • We understand that things may happen that affect you making your loan repayments. If your monthly Direct Debit repayment fails, we will re-attempt your Direct Debit payment 3 more times. If we cannot collect your Direct Debit payment, you can also make a payment via debit card or a one-off Direct Debit. To make the payment

    • Log in to your Lendable account
    • Go to the ‘Manage’ tab
    • Select your preferred payment option

    Missed payments will be added to the end of your loan term, which may extend your loan term and could lead to additional interest.

    Please note, missed payments may negatively impact your credit file. This could make it more difficult or expensive for you to obtain credit in the future.

    If you have been impacted by the increasing cost of living and/or other circumstances which are making it difficult for you to repay your loan, please email us at contact@lendable.co.uk or call us on 020 3322 1948, 9am to 6pm, Monday to Friday.

    Our Financial Support team will discuss your options with you and help find a solution tailored to your individual circumstances. Please note that any solutions we put in place may impact your credit file.

  • We report your repayment activity to the credit reference agencies including any missed payments or reduced payments you make. If you miss one or more payments your account will be reported as ‘in arrears’ until the full missed payment amount(s) have been repaid. You can see your repayment history by logging in to your Lendable account and going to the ‘History’ section.

    If you have any questions about the information we have reported to the credit reference agencies, please email us at contact@lendable.co.uk or call us on 020 3322 1948, 9am to 6pm, Monday to Friday.

  • We understand there can be unexpected life changes which can make it difficult for you to repay your loan. If you have been impacted by the increasing cost of living and/or facing financial difficulties, one of the options available to you is a short term reduced payment plan. If you need to make reduced payments for 1 - 3 months, you might be able to arrange this through your Lendable account.

    • Log in to your Lendable account.
    • Go to the ‘Overview’ tab
    • Select ‘Setup arrangement plan’ and tell us what you can afford to pay.

    A reduced payment plan may extend the term of your loan and may result in additional interest being charged

    If you need support for more than 3 months, or can’t find the setup option, please call us on 020 3322 1948, 9am to 6pm, Monday to Friday or email us at contact@lendable.co.uk. Our Financial Support team will discuss your options with you and help find a solution tailored to your individual circumstances.

    Please note that any solutions we put in place may impact your credit file.

    You are able to make additional payments to your loan at any point in the future. This may reduce the interest you pay over time and shorten your loan term.

    Before making any extra payments to your loan, please think carefully about whether this is affordable.
  • We have sent you a Notice of Default as you have missed a number of loan repayments.

    In the Notice of Default we state:

    • the amount we need you to pay; and
    • and the date this needs to be paid by to stop us from defaulting your loan.

    If you cannot afford to pay this amount, please email us at contact@lendable.co.uk or call us on 020 3322 1948, 9am to 6pm, Monday to Friday. Our Financial Support team will discuss your options with you and help find a solution tailored to your individual circumstances.

    Please note that any solutions we put in place may impact your credit file.If you do not contact us and no action is taken, we may default your loan and take further action. This means the default will be added to your credit file and will remain for 6 years. Please note, a default may impact your ability to obtain credit in future.
  • We have sent you a Notice of Sums in Arrears (NOSIA) because you have missed loan payments. We are legally required to send you a NOSIA even if you have one of the following solutions in place:

    • a payment arrangement with us;
    • a Debt Management Plan; or
    • an Insolvency solution such as an IVA, DRO or Bankruptcy

    If you already have a solution in place, the solution will continue and you do not need to take any further action unless your circumstances have changed. The NOSIA is for information purposes only.

    If you want to discuss your existing solution or you do not currently have a solution in place, please email us at contact@lendable.co.uk or call us on 020 3322 1948, 9am to 6pm, Monday to Friday. Our Financial Support team will discuss your options with you and help find a solution tailored to your individual circumstances. Please note that any solutions we put in place may impact your credit file.

    We will continue to send you NOSIAs until any missed payment amounts are repaid and your arrears balance is zero.

  • You can cancel and repay your loan amount within 14 days of receiving the funds. You will not need to repay any interest and fees if you cancel your loan.

    To cancel and repay your loan balance, log in to your Lendable account and go to the ‘Manage’ tab for the bank details to return the loan amount to. Once you have this, please make a bank transfer from your bank account. We’ll send you an email confirming your loan has been cancelled, once we receive the funds.

  • You can make changes to your repayment date if your next payment due date is more than 5 days from today. Your new payment date will need to be within 10 days of your existing repayment date as we don’t allow more than 40 days between scheduled payments. Please be aware that you can only change your repayment date twice in a 6-month period.

    To change your repayment date:

    • Log into your Lendable account.
    • Go to the 'Schedule' section.
    • You will see an option to select from a range of repayment dates.

    If the repayment date you want is not available, please contact us using our contact form or email us at contact@lendable.co.uk.

  • If you want to change your bank details for your Direct Debit, please contact us using our contact form or by email at contact@lendable.co.uk and provide the new bank details for your Direct Debit payment.

  • Please login to your Lendable account. Go to 'Manage' and update your address details.

  • Please contact us using our contact form or by email at contact@lendable.co.uk and provide the new email address you’d like to use.

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

I have requested a Lendable quote

  • We will review your loan application. You don’t need to stay logged in or contact us at this time.

    We will email you to confirm the outcome of your application or if we need further information from you.

  • You can view your quote or check the status of your application in your Lendable account. Go to our Login page and enter your e-mail address. We’ll send you a login link which you can use to access your account.

    If we require further documentation, you’ll see a request on your pending application.

    If you have provided documentation and you’re waiting for a decision, your pending application will be marked as ‘In review’. We will contact you with the outcome as soon as possible.

  • You can provide your documents by uploading them to your Lendable account or by emailing them to contact@lendable.co.uk.

    We can accept documents in PDF format or pictures of original documents taken with a smartphone. If you take a photo of your document, please ensure the full document is shown and all information is clear.

  • Once your application is complete and your loan is approved by Lendable, we’ll send you an email with the details of your loan.

    If your loan is approved, we typically transfer the loan amount straight away and we will credit your bank account within 2 hours (please note this may vary depending on your bank’s processing times).

  • Lendable loans include a one-off fee that covers costs associated with the loan, including setup and servicing.

    These costs include various administrative expenses, such as processing the loan application, conducting credit checks, verifying documentation, and managing the loan throughout its term.

    By charging a loan fee, Lendable ensures that it can cover these operational costs and continue to provide a high-quality experience to our customers.

    There are no hidden charges, and we will never ask you for any money upfront. We make it simple for our customers by adding the fee to the amount you borrow, and it is paid back as part of your regular monthly payments.

  • The APR (Annual Percentage Rate) tells you the rate of interest you will pay each year for your loan. The APR includes the interest rate of your loan and your loan fee amount.

    We will always tell you the exact APR you’ll pay and the total cost of the loan before you borrow from us.

  • When you request a loan quote, we work with our credit reference agency partner, TransUnion, to do a ‘soft’ credit search to see if we can offer you a quote. This means our checks won’t impact your credit file.

    If your quote is pre-approved, it means we can give you a loan if you decide to go ahead with the application.

    Please note, all quotes are still subject to manual review by our Decisions team and our final verification checks.
  • When you initially check your eligibility with Lendable, we work with our credit reference agency partner, TransUnion, to do a ‘soft’ credit search to see if we can offer you a quote. This means our checks won’t impact your credit file.

    You might also see a soft search on your credit file after searching on a price comparison website (like Experian) for a quote, however this won’t be visible to other lenders.

    We will perform a hard search only if you go on to complete the full application and accept the loan agreement. As a responsible lender, we need to run these checks before you can receive your loan.

    A hard search may impact your credit score and your ability to obtain credit in the future. If you want further information about your credit file, you can access your TransUnion file for free at www.creditkarma.co.uk.

  • 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.

  • 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.

  • We’re sorry we can’t offer you a loan at this time. Our assessment involves many different factors, so there’s often not a single reason for declining a loan application. We are sorry we couldn’t help you this time, but please feel free to re-apply at a later stage.

  • Open Banking provides a safe, secure way for customers to share banking data with other regulated financial providers. You have total control over who you grant access to and what we are allowed to see.

    By using Open Banking, you can quickly and securely share a one-time snapshot of your transactions with us. We will only use your bank account information to verify your personal details and confirm the loan is affordable. This saves you having to find and upload documents and saves you any waiting time whilst our team reviews these. We cannot take payments from your bank account or do anything else without your explicit permission.

    We use Truelayer, a secure, FCA-regulated provider, to connect to your bank. You can find more information on Truelayer and Open Banking here.

  • During your loan application process, we may ask you to connect your main bank account (the one where you receive your income) via Open Banking. This helps us verify that the bank account belongs to you and the loan you requested is affordable.

    We use Truelayer, a secure, FCA-regulated provider, to connect to your bank. You can find more information on Truelayer and Open Banking here.

    If your bank doesn't support this technology and isn't listed, you can try linking a different account from a supported bank.

    If you cannot connect a different bank account, please contact us via our contact form or email us at contact@lendable.co.uk and we will aim to verify your details another way.

  • As Open Banking is a relatively new technology, not all banks support it at the moment. If your bank is supported but you’re still seeing errors connecting your bank, it is likely due to an issue with your bank’s connection. We recommend you wait for an hour or so before retrying as these issues often resolve themselves.

    In some cases, we can allow you to upload a bank statement or payslip instead of connecting your bank. However this can take longer for our team to review and may not always be possible to do.

    We know this can be frustrating and are working closely with TrueLayer and banks to bring more access to customers.

  • Please call us on 020 3322 1948 from 9am to 6pm, Monday to Friday or email us at contact@lendable.co.uk and we will investigate the matter for you.

    You can also report this to Action Fraud by calling 0300 123 2040 or online via their website.

  • If someone has asked you to apply for a loan, please call us before you make an application. Please be aware that the following scenarios may be scams:

    • You are asked to apply for a loan and send the money to another person or organisation, particularly if this is someone you do not know or have never met in person.
    • You have received a ‘promise’, ‘offer’ or ‘return on investment’ if you take out a loan and send the money to another person or organisation.
    • You are being pressured into making a fast decision or you are given a ‘time limited’ offer.

    If you have already applied for a loan and you are worried you have been a victim of a scam, please call us on 020 3322 1948 9am to 6pm, Monday to Friday or email us at contact@lendable.co.uk and we will investigate the matter for you.

  • You can take the following steps to help protect yourself against fraud.

    • Check your credit report and bank statements on a regular basis and report any activity you don’t recognise to your bank or credit provider as soon as possible.
    • Keep any documents containing personal information e.g. your passport, driving licence, bank statements and utility bills in a safe place. Make sure your personal information is not visible on any documents you throw away.
    • If you move house, inform your bank, credit card providers and utility providers of your new address as soon as possible. You can also arrange for mail redirection through Royal Mail.

    Further information on how you can protect yourself is available on the Action Fraud website and Take Five website.

  • We’re sorry that your experience with Lendable wasn’t satisfactory. If you have a complaint about a service provided by Lendable please call us on 020 3322 1948 from 9am to 6pm, Monday to Friday or email us at contact@lendable.co.uk. Please go to our complaints page for further information on our complaints procedure.

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 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.`

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