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Joint Personal Loans UK

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  • Borrow £1,000 to £8,000
  • Repay over 12 to 60 months
  • Check eligibility with no impact on your credit score
Check my eligibility now This won't affect your credit score

Representative example: Amount of credit £2,000 for 24 months. Interest rate: 41.2% pa (fixed). 24 scheduled monthly payments of £123.64. Total amount payable: £2,967.43. Representative 49.9% APR.

How joint personal loans work in the UK

If you are searching for joint personal loans in the UK, you are usually looking for one credit agreement that two people apply for together. This can be useful when a couple or two adults want to borrow for a shared purpose such as home improvements, a large purchase, or consolidating household debts into one monthly repayment.

With a joint loan, both borrowers are typically responsible for the repayments. Lenders may look at income, regular outgoings and credit information for each applicant before deciding whether to lend. The Financial Conduct Authority has made clear that where there are joint borrowers, lenders may need to consider each borrower separately as well as together because each borrower is usually jointly and severally liable for the debt.

118 118 Money offers unsecured personal loans from £1,000 to £8,000 over 12 to 60 months, subject to eligibility and affordability. If you are comparing your options and decide that borrowing in one name is the better fit, you can check your eligibility with us without affecting your credit score.

Check whether an individual personal loan could be right for you
Use the eligibility checker to see whether you are likely to be accepted before you apply.
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What borrowers usually look for when comparing joint personal loans

People searching this term are often comparing more than just the monthly payment. These are some of the points worth weighing up before you choose any loan.

Shared responsibility. A joint agreement can help with a shared expense, but both borrowers remain responsible for keeping repayments on track.

Affordability checks. Lenders may review both applicants' finances, including income, regular commitments and overall affordability.

Credit impact. A full application can leave a hard search, so it can make sense to use eligibility checkers first where available.

Loan structure. Some borrowers prefer one shared agreement, while others would rather keep borrowing in one name for simplicity.

Fixed monthly repayments. For many people, a personal loan is easier to manage when the repayment amount stays the same each month.

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3 simple steps to an individual loan alternative

  • Check your eligibility with no impact to your credit score
  • Review your offer, set up your Direct Debit and sign
  • Receive funds in 15 minutes*
Check my eligibility This won't affect your credit score. *This can vary from 15 minutes to 2 hours depending on your bank.
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What to consider before applying

If you are deciding between a joint loan and an individual personal loan, start by working out exactly how much you need to borrow and how much you can realistically afford each month.

It is also worth thinking about responsibility. With joint borrowing, both people can be liable for the debt. If one person cannot keep up with repayments, the other may still be responsible for the full balance. That is one reason some borrowers prefer an individual loan instead.

Using an eligibility checker first can also help you compare options more carefully. 118 118 Money offers an eligibility checker for individual personal loans, which uses a soft search first and does not affect your credit score unless you move on to a full application. Our unsecured loans range from £1,000 to £8,000 over 12 to 60 months, subject to eligibility and affordability.

As with any loan, borrowing over a longer term can reduce monthly repayments but may increase the total amount repaid overall. Make sure the repayment fits comfortably within your monthly budget before you apply.

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Joint Personal Loan FAQs

A joint personal loan is one credit agreement taken out by two borrowers together. Both borrowers are responsible for the repayments, and lenders may assess income, outgoings and credit information for each applicant.

Yes. With a joint loan, each borrower is typically jointly and severally liable. That means both borrowers remain responsible for the debt if repayments are missed.

Many lenders offer an eligibility checker that uses a soft search first. With 118 118 Money, you can check eligibility for an individual personal loan without affecting your credit score.

118 118 Money offers unsecured personal loans from £1,000 to £8,000 over 12 to 60 months, subject to eligibility and affordability.

If you would prefer not to share one credit agreement, an individual personal loan may be worth considering. The right option depends on your circumstances, affordability and how you want responsibility for the borrowing to work.

Looking for a straightforward personal loan option?

If you decide an individual loan suits you better than a joint agreement, you can check your eligibility with 118 118 Money before you apply. It will not affect your credit score.

Check my eligibility
118 118 money helpers illustration
118 118 money helpers illustration