Most people will need a loan or two during their lifetime – this could be for an unexpected emergency like an urgent car repair or a broken boiler; consolidate and control debts; or it could be to invest in some home improvements or a new business.

Once you have identified your need for a loan then what next?

Credit score

Even if you aren’t looking for a loan, you should try to check your credit score as often as possible, as disputing mistakes early will avoid you getting unfairly refused credit. Check out your credit score by using one of the credit report checking companies – Experian or Equifax.

Is a loan affordable?

You shouldn’t start applying for lots of loans because loan companies will run credit scores on you and this will your final application. Do your research before making any applications. If you are looking for a loan between £1,000 and £5,000, then you can check which loan is right for you without affecting your credit report by doing our Quick Check

Choosing a loan

Become familiar and with interest rates and APR.

APR stands for the Annual Percentage Rate of charge. It is the best way to compare different loan offers because it takes into account not just the interest on the loan, but also other charges you have to pay (e.g application fees).

We always recommend checking the interest rate, the APR and the monthly repayments. 118 118 Money offer an APR of 99.9%, this is dependant on the information you provide us on your application form.

Before making a final decision, factor in other differences such as whether they are any restrictions in paying off the loan early, the reputation of the company, or whether two friendly health conscious men with moustaches are involved! Find out what else 118 118 Money can offer


Different loan companies have different ways to apply. Whether you do it online or face-to-face, make sure you have all the information to hand. If you don’t provide the right information this may delay the application process, or worse, you could get rejected straight away.

You got a yes, now what?

If you application is successful your loan will be paid, usually straight into your account, and the direct debit mandate for you repayment will be set up.

If you have money left over from the loan, for example, you got a better deal than expected on the car you were buying, you can pay back some of the loan early.

Always ensure you can pay the monthly payments otherwise it could future loan applications.

What should I do if I’m having difficulty making payments?

Contact the loan company as soon as possible. Our number again is 08000 118 100/02920 893400*. We will always try to help if we can.

Can I view my balance online?

With a 118 118 Money loan you can view your balance online. Simply log into the account management section of our website where you’ll be able to see your current balance and recent payments.

If my personal details change (for example, I’ve moved, or my bank account information has changed), then how do I let you know?

Please call us on 08000 118 000 or 02920 893300*

Looking for a loan?

118 118 Money have a selection of loans available to suit your needs:
£1000 loan

£2000 loan

£3000 loan

£4000 loan

£5000 loan

To secure the best loans at the best rates you’ll need to look after your credit.

If you need any immediate help then get in touch with us by calling 08000 118 000 or 02920 893300* or email us at (*08000 118 000 is free from UK landlines. Calls from other networks and mobiles may vary. 02920 893300 is charged by your provider as a UK national number.)

Representative example: Amount of credit £1,810.48 for 24 months. Interest rate: 71.3% pa (fixed). 24 scheduled monthly payments of £143.48. Total amount repayable: £3443.52. Representative 99.9% APR.

Rates from 35.9% APR - 99.9% APR fixed.