Why Has My Application Been Declined?

TABLE OF CONTENTS

• Why Was My Application Declined?
• Could There Be Incorrect Information on My Credit File?
• Can I Appeal the Decision?
• Could I Be Entitled to Extra Financial Support?
• Need More Information?

We understand it can be disappointing if your loan application isn't approved.

Every application is assessed individually to make sure any borrowing we offer is affordable and suitable for your circumstances.

Why Was My Application Declined?

There are a number of reasons why we may not be able to approve an application.

When we assess your application, we look at information such as:

• How you're managing your existing credit commitments

• Information held on your credit file

• Your income and regular spending

• Information you provide through Open Banking or your bank statements (where requested)

If our assessment suggests that taking out another loan may not be affordable for you at the moment, we won't be able to approve your application.

Our priority is to lend responsibly and avoid putting customers under additional financial pressure.

Could There Be Incorrect Information on My Credit File?

Yes. Occasionally, information held by credit reference agencies may be incorrect or out of date.

We recommend checking your credit file regularly to make sure the information is accurate.

You can use Credit Karma to:

• Check your credit file for free

• View the information being reported

• Raise a dispute if you believe any information is incorrect

Can I Appeal the Decision?

Yes.

If you believe there is additional information that we should consider, you can ask us to review our decision.

Simply reply to the email you received about your application and explain why you think the decision should be reconsidered. For example, you may want to tell us about a recent change to your circumstances that wasn't reflected in your application.

We'll review any new information you provide as part of your appeal.

Please note that providing additional information doesn't guarantee that we'll be able to change our decision.

Could I Be Entitled to Extra Financial Support?

You may be eligible for benefits or financial support that you're not currently receiving.

We recommend using our free Benefits Calculator to check whether you could claim any additional support.

Need More Information?

If you have any questions about your application or the information we've used to make our decision, please get in touch with us. We'll be happy to explain the process and discuss your options.