Before you borrow
Make sure repayments fit your life
A loan should be affordable alongside your essential bills and existing financial commitments—not only in a typical month, but if circumstances change.
Check the full cost
Consider the monthly repayment, the total amount repayable and how long the agreement will run. A longer term may reduce the monthly amount but can increase the overall cost.
Use accurate figures
Include rent or mortgage payments, council tax, utilities, food, travel, childcare, insurance and all existing debt repayments when reviewing affordability.
If you are already struggling
Taking further credit may not be appropriate. Citizens Advice and MoneyHelper offer free information and support.
Important warning
Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.