Types
- Health insurance for Children
- Family health insurance
- Health insurance for over 50s
- Health insurance for over 60s
- Health insurance for over 70s
- Small business health insurance
- Corporate health insurance
- Group health insurance
- Health insurance for self-employed
- Comprehensive health insurance
- Health insurance for pre-existing conditions
- Couples health insurance
Cover
Types
Eligibility
Types
- Health insurance for Children
- Family health insurance
- Health insurance for over 50s
- Health insurance for over 60s
- Health insurance for over 70s
- Small business health insurance
- Corporate health insurance
- Group health insurance
- Health insurance for self-employed
- Comprehensive health insurance
- Health insurance for pre-existing conditions
- Couples health insurance
Cover
Insurers
Types
Eligibility
How does our loan eligibility checker work?
Our loan eligibility checker is quick and easy to use, showing you your chances of being approved for a wide range of deals.
Compare loans
Look at various options and consider factors such as the APR (Annual Percentage Rate), monthly repayments, and the total amount to be repaid. This will help you find the most cost-effective loan.
Choose a deal
Select a deal and provider that offers the best combination of APR, term length, and monthly payments. Ensure that the loan is affordable based on your financial situation.
Fill out the application form
Provide your name, address, and bank details, along with a summary of your monthly income and expenses. Double-check all information for accuracy to avoid any issues during processing.
Loan calculator
This helps you get a more accurate finance estimate
Representative example
What is a loan eligibility checker?
A loan eligibility checker gives you an idea of which loans you’re likely to be approved for based on your credit report and the lender’s criteria. This tool helps you see if you qualify for different loans before you apply, ensuring you meet the requirements of various lenders. It uses a soft search, which doesn’t affect your credit score, to assess your information. By checking your eligibility, you can compare loans confidently, knowing which ones suit your financial situation. This helps you avoid the negative impact of too many credit applications on your credit score and makes the loan application process less stressful.
Why should I use a loan eligibility checker?
Using a loan eligibility checker is essential for protecting your credit file and improving your chances of loan approval. Each time you apply for a loan, it leaves a mark on your credit file. Frequent loan applications, especially those that get rejected, can negatively impact your credit score. A lower credit score makes it more challenging to secure loans in the future.
A loan eligibility checker allows you to see which loans you're likely to be accepted for before applying, thus avoiding unnecessary applications and rejections. This tool uses a soft search, which does not affect your credit score, to assess your eligibility. By using this checker, you can compare different loan options without damaging your credit score, ensuring you apply only for loans you’re likely to get. This approach not only saves time but also helps maintain a healthy credit score, making it easier to secure loans when needed. It’s a smart way to manage your loan applications and protect your financial health.
How do lenders decide if I'm eligible for a loan?
Lenders assess loan eligibility based on several key factors to ensure you can afford the loan repayments. These factors include:
- Income and employment status: A regular income and full-time employment indicate financial stability, making lenders more likely to approve your loan.
- Credit history: Lenders review your credit file to check for timely payments and recent credit applications. A solid credit history shows you are reliable in managing debt.
- Credit rating: This is a reflection of your credit history. A higher credit score improves your chances of loan approval and securing favourable interest rates.
- Affordability: Lenders evaluate whether your income can comfortably cover the monthly repayments without stretching your finances.
Ready to find the best loan options tailored to your financial situation? Use the Moneyrepublic loan eligibility checker to see which loans you qualify for without impacting your credit score. Start your journey towards securing the right loan now!
What do I need to use the loan eligibility checker?
To use the loan eligibility checker, you’ll need to provide the following information:
- Loan Amount: Specify how much you want to borrow.
- Personal Details: This includes your employment status, occupation, and UK address history.
- Income: Provide your annual salary and any other sources of income.
- Dependents: List any financial dependents you have.
- Housing Costs: Include details of any mortgage or rent payments.
Using the eligibility checker will not impact your credit score. This tool performs a soft search, ensuring your credit score remains unaffected.
What types of loans can I check?
Using the eligibility checker, you can explore various types of loans, including:
- Personal loans: Versatile loans for a range of purposes, from covering unexpected expenses to making large purchases. Personal loans typically offer fixed amounts and repayment terms.
- Home improvement loans: Ideal for those planning to renovate or upgrade their property. These loans help spread the cost of home improvements, potentially increasing the value of your home.
- Debt consolidation loans: Designed to combine multiple debts into one manageable monthly repayment. This can simplify your finances and potentially reduce your overall interest rate.
- Wedding loans: These loans can help reduce stress by managing the costs associated with your big day, minimising financial worries as you prepare for the event.
- Holiday loans: Perfect for funding your annual family holiday, honeymoon, or retirement trip of a lifetime. A holiday loan helps cover travel expenses, allowing you to enjoy your trip without financial strain.
By using the eligibility checker, you can see which loans you are likely to qualify for without affecting your credit score.
Who is eligible for the loan?
You must meet certain eligibility requirements
| To apply for a loan you need | Requirements |
|---|---|
| Your personal details, such as your name and birthdate | You need to be at least 18 years old—some lenders may require you to be older. |
| Your bank account information | Demonstrating a steady income is crucial as it shows you can handle monthly repayments. |
| Your current address and addresses from the last three years | An active bank account is required for the loan transactions. |
| Details about your job | Lenders will assess if you can comfortably afford the loan repayments without compromising your financial health. |
| You need to be a UK resident and have a permanent address |
All it takes to compare loans is a bit of information about you and your finances.
Compare loansWhy compare loans through Moneyrepublic?
- 1Identify the loans with the highest approval chances.
- 2Receive loan options tailored to your specific needs.
- 3Compare loans without impacting your credit score.
FAQ
Will using the loan eligibility checker impact my credit score?
No, using the loan eligibility checker won’t impact your credit score. It performs a soft credit search, which isn’t connected to a real loan application. You can use the checker as often as you like without affecting your credit score. While you’ll see the eligibility check on your credit file, lenders won’t. Only if you apply for a loan will a provider perform a hard search, which stays on your credit file for 12 months.
What are the minimum requirements for applying for a loan?
To apply for a loan, you must meet specific criteria. Generally, you need to be at least 18 years old, though some lenders may require you to be 21. You must be a UK resident with at least three years of address history in the UK. A current account is essential, and you should not have been declared bankrupt in the past six years.
How long does the loan eligibility checker take?
The loan eligibility checker is quick and easy to use. It takes less than four minutes to complete and get a list of suitable loans to compare. You'll receive instant feedback on your eligibility, helping you make informed decisions without any delays. This swift process ensures you can efficiently find the best loan options tailored to your needs.
How will the loan eligibility checker show up on my credit report?
The soft search used by our loan eligibility checker will appear in a separate section of your credit file under ‘other searches’. Only you can see this; lenders won’t be able to view it. Any hard searches conducted by lenders will show up under ‘credit searches’. This way, using the eligibility checker won’t impact your credit score or future loan applications.
What does it mean if I am ‘pre-approved’ for the loan?
Being ‘pre-approved’ means that certain lenders have reviewed the information from our soft search and are willing to approve your loan application based on that data. This gives you confidence to proceed, knowing there’s a strong chance of approval. However, remember that pre-approval isn’t a 100% guarantee. Lenders will still conduct a hard search to confirm your details and ensure everything checks out before final approval.
Is it worth applying for loans if I have a low probability of being accepted?
Applying for loans with a low probability of acceptance might not be the best idea. Each lender has their own criteria, and a low eligibility rating means you have a smaller chance of approval. A 20% eligibility rating indicates a one-in-five chance of getting the loan. It's better to apply for loans with higher eligibility ratings to avoid unnecessary hard searches on your credit file, which can lower your chances with other lenders.
What is the difference between a hard and soft credit search?
A hard credit search is a thorough review of your credit report that lenders conduct when you apply for credit, such as a loan, credit card, or mortgage. This type of search is recorded on your credit file for up to 12 months, and other lenders can see it, which can affect your credit score. A soft credit search, on the other hand, is a preliminary check to see how likely you are to be approved for credit. Soft searches aren’t visible to lenders and don’t impact your credit score. You can perform soft searches as often as needed, and only you will see them on your credit file. Using our loan eligibility checker involves a soft search, providing insight into your chances of approval without harming your credit score.
What if I’m not eligible for any loans?
If you're not eligible for any loans, don’t worry. First, review your credit file to identify areas for improvement. Handling credit better and increasing your credit score can boost your chances of future loan approval. Consider using our credit monitor service to check your score and receive personalised tips to enhance it. Additionally, focus on paying bills on time, reducing outstanding debts, and avoiding new credit applications. Improving your credit rating takes time, but with consistent effort, you can increase your eligibility for loans and other credit products in the future.
What if I get rejected for a loan?
If you get rejected for a loan, find out the reason why. Understanding the issue can help you rectify it and improve your chances next time. Avoid immediately applying for another loan, as this can result in another hard search on your credit file, further lowering your credit score. Check your credit report for errors or forgotten debts, as fixing these can quickly improve your rating. Take a few months to work on your credit score by paying bills on time and reducing outstanding debts before applying again. This approach increases your chances of approval in the future.
How can I improve my loan eligibility?
- Register to Vote: Ensure you're on the electoral roll at your current address, as lenders use it to verify your identity and residence.
- Make Timely Payments: Paying off your credit card in full each month and settling bills on time demonstrates your ability to manage debts responsibly.
- Reduce Debt Levels: Pay off outstanding debts before applying for a new loan, as high existing debt can make lenders wary.
- Check Your Credit File: Regularly review your credit report for mistakes or signs of fraud. Correcting errors can quickly boost your credit score.
Can I still get a loan with bad credit?
Yes, you can still get a loan with bad credit. Some lenders specialise in offering loans to individuals with poor credit scores. While you might face higher interest rates and stricter terms, it's possible to find a suitable loan. Use our eligibility checker to explore your options without affecting your credit score, ensuring you choose the best deal available.