FAQs

First thing’s first, decide how much you want to apply for and complete our quick and easy online form. We’ll then do the legwork for you by searching for the right lenders. If approved, your loan agreement will be sent over to you online. Sometimes lenders will require further details to verify your application, such as your employer or salary, but these can mostly be completed online too.

If you’re happy with the offer one particular lender gives, the funds will be transferred into your account, most likely on the same day. Once you’ve received your loan, you’ll then begin the repayments and interest.

This is all dependant on your individual circumstances, as well as the lender provided to you. Typically loans range from £100 to £5000.

Typically there are no limitations on what you can use your money for, but it’s important to note that Lovely Loans is a short term loan service, that should only be used for time-sensitive repayments or unforeseen emergencies.

After your application has been accepted, the funds could be sent to your bank in a matter of minutes. However, some lenders include extra charges for a fast track service. The majority of loans are paid straight into your bank account on the same day, without any extra charges. How quickly you receive the funds will also depend on your bank’s procedures and policies.

You are likely to be accepted by us if you are a UK citizen, over the age of 18 and receive a regular income of at least £750 per month. You will also require a bank account and a valid debit card, as well as being able to prove your identity.

We would strongly advise against this. Lenders will typically want you to pay off your existing debt before approving you for a further loan. It’s also important to keep in mind that you should only borrow what you can afford to repay and that you avoid late repayments, which will result in larger interest charges and have an adverse effect on your credit rating.

Lovely Loans will do a soft search on your credit file to pair you with the best lender(s) or broker(s) on our list, depending on your needs. These lenders may then do a further soft search to see how eligible you are for the service you are applying for. All searches will only be visible to you though, and will not have an impact on your overall credit score.

We partner with a variety of different lenders in order for all of our customers to be able to find a loan, no matter what their circumstances. Our APRs are all different, with our prime lenders offering low APRs from just 9.3% and other lenders offering loans over shorter periods to our customers with adverse credit ratings. These represent the upper end of our scale, as the APRs are typically higher for these types of loans.

The terms and conditions for this vary depending on the product you have selected. Full information of when your repayments begin, how often and when repayments should be made etc. will be explained to you in detail upon your loan agreement.

Repayments for your loan are taken automatically using the debit card details you have provided. It’s extremely important to ensure that you have the funds needed available to avoid excessive interest or any late fee charges.

Some lenders will use CPA (continuous payment authority) to retrieve their payments from customers. In order for them to do so, you will first authorise the lender to take the funds from your bank account when required. Lenders can also make multiple attempts to withdraw the money if there are issues the first time. If you wish to cancel your CPA, this can be done either by contacting the lender or consulting directly with your bank to ask for a cancellation.

Every single detail of the personal data you provide us with is kept totally secure and confidential and only kept on our files for as long as necessary. All information you give us is stored in compliance with GDPR 2016 and kept totally private in accordance with our privacy policy.

Unfortunately not, this is one of our main requirements. In order to obtain a debit card, you should contact your bank.

It’s of paramount importance that you’re definitely able to make your repayments (in full and on time) before applying for any type of credit whatsoever. If your circumstances change and you’re struggling to make your repayments, it’s vital that you let the lender know straight away. The quicker you speak to them, the sooner they will be able to make arrangements to help you. If you’re already experiencing general financial troubles and have mounting debts, we strongly advise against you taking on any other additional loans from credit providers and seeking assistance right away instead. You can get free advice and support from a number of places, including Step Change Debt Charity, Citizens Advice Bureau & The National Debt Helpline.

Here at Lovely Loans, we won’t charge you anything to use our service, but if you do decide to go ahead and choose a loan through us then your lender may pay Lovely Loans a commission.