Can I Get A Loan & Other FAQs

You can apply online through our website or by calling us on 0330 400 6000. All applications are subject to eligibility, credit and affordability checks.

You may be able to borrow from £500 to £1,500 depending on your individual circumstances and the outcome of our affordability assessment.

You may be able to apply if you:

• Are aged 21 or over
• Have a regular income from employment
• Are resident in the UK
• Have a UK bank account and debit card

You can apply whether you are a homeowner, tenant, or living with parents or family. Meeting these criteria does not guarantee approval. All applications are subject to affordability and credit checks.

At present, we are unable to accept applications from customers who are subject to:

• Bankruptcy
• Individual Voluntary Arrangements (IVA)
• Debt Relief Orders (DRO)
• Trust Deeds

A personal loan may help in some situations, but it is important to consider whether borrowing is right for you.

This type of loan may be suitable if you:

• Understand the total cost and can afford the repayments
• Need funds for a specific purpose
• Have considered lower-cost alternatives

It may not be suitable if you:

• Are struggling with everyday living costs
• Need to borrow repeatedly to get by
• Are considering borrowing for ongoing or non-essential expenses

If you are unsure, free and independent debt advice may be a better option.

Our eligibility checker uses a soft credit search to give an indication of whether you may be eligible for a loan. It does not affect your credit score and does not commit you to applying.

No. The eligibility checker provides an indication only. Final approval depends on a full affordability assessment, credit checks and verification of your details.

Yes. At Simple Fast Loans if you proceed with a full application, we will carry out credit, affordability, identity and fraud prevention checks using one or more credit reference agencies.

Before you decide whether to proceed, we will clearly show:

• The interest rate and APR
• Your repayment amount and frequency
• The total amount repayable

Representative example:

If you borrow £999 over 18 months at a flat rate of 132% per annum (fixed) with a representative 450.5% APR you will make 18 monthly payments of £165.39, repaying £2,977.02 in total. This means you would pay £1,978.02 in interest in addition to the amount borrowed. 

The rate and term you are offered will depend on your individual circumstances.

We do not charge set-up fees, arrangement fees or late payment fees. However, missed and late payments may be reported to credit reference agencies and could affect your credit file and ability to borrow in the future.

APR shows the total yearly cost of borrowing, including interest. It helps you compare loans from different lenders. The APR you are offered will depend on your circumstances, loan amount and repayment term

Yes. We may pay commission to credit brokers or intermediaries who introduce customers to us. This commission is paid by us and does not affect your interest rate, loan terms or total amount repayable under your loan agreement.

If your application is approved, funds are usually paid by bank transfer on the same working day, subject to our working hours and your bank’s processing times.

We are very flexible and provide repayment options of weekly, fortnightly, or monthly.

Repayments can be made by:

• Continuous Payment Authority (CPA) using your debit card
• Online via our customer portal
• By phone on 0330 400 0402
• Bank transfer (BACS)

A CPA allows us to collect your agreed repayments automatically from your debit card on the due date. You can cancel a CPA at any time by contacting us or your bank. Cancelling a CPA does not cancel your loan, and repayments must still be made by another method.

We do not charge late payment fees. However, missed and late payments may be reported to credit reference agencies and could affect your credit file and ability to borrow in the future. If you are worried about making a payment, please contact us as soon as possible.

If you are experiencing financial difficulty, please contact us as soon as possible. We may be able to discuss support or alternative arrangements based on your circumstances.

Free, independent debt advice is also available from:

• StepChange Debt Charity
• National Debtline
• Citizens Advice

You do not need to be in arrears to seek debt advice.

It is a requirement that applicants have a debit card to set up the payments.

We recognise that some customers may be in vulnerable circumstances. If you need additional support or find any part of the process difficult, please let us know so we can take this into account.

Yes, you can settle your agreement at any time and there is no penalty charge for doing so. To find out how much you need to pay to settle your agreement, simply request a settlement figure by logging into your online customer portal.

You can obtain a settlement figure by:

• Logging into your online customer portal
• Emailing [email protected]
• Calling 0330 4000 402

Please note that settlement figures are valid for 28 days from the date they are issued.

The quickest and easiest way to settle your agreement is through our secure online payment system, which can be accessed via your online customer portal.

Alternatively, you can call us on 0330 4000 402 to make a payment over the phone. Please note that we can only accept debit card payments from a card registered in the agreement holder’s name.

If you decide you no longer want the loan, you must notify us that you wish to withdraw within14 days, which starts from the day your loan is paid out or the day you receive your credit agreement, whichever is later.

You can do this by:

• Logging into the customer portal
• Emailing [email protected]
• Calling 0330 4000 402

We recommend contacting us as soon as possible if you decide to withdraw.

If you withdraw from your loan, you must repay the amount borrowed plus any interest accrued from the date the credit was provided until the day you repay the loan, You must make this payment within 30 days of giving notice.

In the event you withdraw from this Agreement you are required to repay the total amount of credit provided and interest accrued from the date the credit was provided until the day you repay the loan, without delay and no later than 30 calendar days after giving notice of withdrawal.

After the period for withdrawal has ended, you cannot cancel this agreement, but you can end it early by making early repayment.

Top-up loans are only available on your existing loan product. If your loan is on an interest rate that is no longer offered for new lending, you won’t be eligible for a top-up or refinance. Your existing loan will continue on its current terms until it is repaid.

If you’re unsure which interest rate applies to your loan, please contact us on 0330 4000 402, and we will be happy to help.

You may be able to apply for a top up loan if you have held your current loan for at least 5 months and your repayments are up to date. All top-up applications are subject to eligibility and affordability checks.

We use the following credit reference agencies:

• Equifax – www.equifax.co.uk/crain
• Experian – www.experian.co.uk/crain
• TransUnion – www.transunion.co.uk/crain

Searches may be recorded on your credit file and visible to other lenders.

If you suspect fraud or a scam:

• Contact us immediately at [email protected] or 0330 4000 402
• Contact your bank straight away if you have suffered a financial loss
• Report fraud to Action Fraud on 0300 123 2040

If you are unhappy with any aspect of our service, please refer to our Complaints section, which explains how to raise a complaint and how you can refer it to the Financial Ombudsman Service if needed.