Joint Loans

If you have been refused credit by your bank or a high street lender,
don't worry, there are still options for you.

How much would you like to borrow?

Our quotes won't affect your credit score

£

Representative Example: Borrowing £3,000 over 2 years at an interest rate of 67.9% p.a. (fixed), you will repay 24 monthly payments of £231.78 per month. Interest payable £2,562.75. Total amount payable £5,562.75. Representative 93.6% APR. Rates from 24.2% to 299.9% max APR.

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Thousands of adults across Britain use Everyday Loans to receive the finance they need where other lenders have turned them down. If you have bad credit and it is making it difficult for you to get a loan, don’t worry; we might be able to help!

If your individual credit rating is very low, it is common to be turned down on loan requests by most lenders. If this sounds like you, then you might wish to consider making a joint application if you have a partner or family member that is happy to apply with you.

How it all works

With everyday loans, you're more than just your credit score. Here at everyday we look at your credit future, not just your credit history. As such even if you have bad credit now or you've had a poor credit score in the past, we may be able to help.

There are 3 simple steps to taking out an everyday loans loan. All of our loans are subject to status and affordability.

  • Step 1

    Step 1

    Complete our short
    application form

  • Step 2

    Step 2

    Get an initial decision
    in minutes

  • Step 3

    Step 3

    Pop into your local branch
    to complete your loan

Why choose everyday loans?

  • Applying with us won't affect your credit score. We use Soft Searching Technology which means even if you're unsuccessful; it won't go against your credit file.
  • We offer loans to those with a less than perfect credit score. You'll need to be over 18, a UK resident and be able to afford repayments.
  • We're a direct lender not a broker. We'll NEVER charge you a fee to consider your application.
  • We'll give you a conditional decision in just minutes.
Start Your Application

There are certain advantages to applying for a loan jointly with a family member or friend.

Firstly, we will assess the application based on both of your credit scores, so the combined score can be stronger than the individual. This can make the difference, giving you a better chance at receiving the financial assistance you need, when you need it most. Where other lenders might turn you down, Everyday Loans is here to consider your joint application.

Secondly, we will also take both your incomes into account and this will help you with your affordability for the loan. As predicting the potential for you to repay your loan as agreed is so important, combining the income of you and your partner into one agreement for the loan is a great way to add more strength to your application.

If you do take a loan jointly then both you and your partner will have to sign the credit agreement - so keeping up with repayments is the responsibility of both parties. If you are considering a joint application with your partner or a family member due to bad credit, it’s important that you are both aware of the agreement and repayments expected and that this responsibility is shared between you both.

If you stop paying the loan before it is fully repaid, then both your credit records will be damaged by any non-payment. Be sure to talk about this with the other person in your application, so that you are both fully informed of the process and consequences of non-payment.

If your joint loan is accepted and you meet your regular repayments, however, your credit ratings could improve as a result. This can be an added benefit, helping to repair and rebuild your credit score. This combined with the responsible handling of your other finances could help you in future.

Everyday Loans is here to help you with your finances when you need it most. It’s our mission to help adults across Britain access loans when they might have been refused elsewhere. If you wish to apply for a loan jointly with a partner, please call your friendly local branch.

All you need to know about joint loans

Joint loans are a great option for a couple who want to apply as one and share the responsibility of a loan. We know that many couples across the UK have a need for financial assistance, and we are here to support them – particularly if they haven’t been successful in their applications to other lenders.

  • Q1: Do we get a mark on our records that’s visible when we apply?

    The Soft Search technology that we use in our processes means you don’t, but other lenders might not be the same so it’s best to be careful. There’s no danger in having a mark on you or your partner’s records, but you might see a negative effect if you make a large number of joint loan applications in a short period. If you apply to other lenders this might be visible and can be interpreted as unreliable, making them less lenient when reviewing an application from you.

  • Q2: What does APR mean?

    Annual percentage rate. It is a standard term that is used to summarise the entire amount of money you repay over the course of a joint loan. Instead of just being a flat percentage, it is determined using what is called compound interest, which can make it a little more complicated than would otherwise be the case. To make it easy to grasp, our advisors at our branches are trained to break it down clearly and without excessive technical jargon.

  • Q3: We want to improve our credit rating, will applying for a loan do that?

    Not by itself. As we mentioned above, your credit rating is an indicator of your spending behaviour. This means just being accepted for a joint loan won’t do anything; it’s instead the payments that matter. If you finish your loan having repaid on time and as required, your credit rating will go up. That’s the difference to keep in mind.

  • Q4: What is a joint loan?

    A joint loan is a loan where two people living together make one application. Both credit scores are considered in the application, and there is a shared responsibility for repayments. It’s a solid choice if you wish to share the loan, or if one of you has a lower credit score than the other.

Joint Loans FAQs

We get asked questions a lot, and we’re happy to answer! Here’s a list of the most regular ones.

  • Q1: Can you tell us what we need to be able to apply for a loan with you?

    We’re more lenient than other lenders when it comes to your credit scores, but we still need to see the following: Evidence of UK citizenship, current employment and the ownership of a UK bank account. That’s it! If you can show that we’ll be happy to review an application from you online.

  • Q2: We’re worried about the time it might take. Is the process slow?

    We have done our best over the years to make it as quick and straightforward as possible; we know it’s often urgent. Once you are accepted online with what is called a conditional approval, you are then contacted by a local branch. The advisor there will arrange a meeting with you both, and it’s in that meeting that you will go over the APR and agree on the fine details. Your money is sent over shortly after that’s done.

  • Q3: Is a boost to our loan possible?

    We can’t guarantee to everyone that a top-up will be granted, but we do offer them. The biggest thing here is that we need to have seen regular and appropriate repayments on your joint loan first. You can talk to your local advisor about a top up and they’ll be happy to assist and describe the process to you in more detail.

  • Q4: Is Everyday Loans a direct lender for joint loans?

    The company is, yes. We’re all about helping people who have a legitimate need for assistance, and the Everyday Loans HQ is located in Buckinghamshire in the town of Bourne End.

We do not charge any fees. If you prefer, talk to us on Freephone 0808 231 5453.

Everyday Loans is a trading style of Everyday Lending Limited (Company registration no. 5850869, England & Wales).

Registered Office and Trading Address: Secure Trust House, Boston Drive, Bourne End, Buckinghamshire, SL8 5YS.

Everyday Lending Limited (Firm Reference No. 724445) is authorised and regulated by the Financial Conduct Authority.

Everyday Lending Limited is a member of the Finance and Leasing Association and as a member, we follow its Lending Code.

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