Am I eligible?
To apply for a JustBorrow loan you must be over 18 years old, not been previously declared bankrupt and have a UK bank account that has a valid debit card.
We can only accept applications from UK residents that live or work in an area where one of our participating credit unions operates.
If approved, you will become a member of the participating credit union, but don’t worry, this process is all part of your loan application.
Can I apply if my credit record isn’t perfect?
As part of the application process a credit check will be undertaken to help verify if you can afford the loan.
If you are already struggling to repay other credit, you are unlikely to be able to obtain a JustBorrow loan and should instead look to access support from agencies such as StepChange Debt Charity or National Debtline who can help with free independent debt advice.
When can I apply?
You can make a JustBorrow application 24 hours a day, 7 days a week, including bank holidays.
Why do I need a current account with a valid debit card?
To apply you will need a valid Bank or Building Society current account as we will deposit funds for successful applicants into this bank account, and we use your debit card to collect your repayments on your due dates.
Will I be approved?
Each application is assessed on an individual basis taking into account a number of factors. We are therefore unable to offer an indication of whether or not your application would be accepted before you submit it. Please remember, if you do apply, this will leave a footprint on your credit file.
Do you perform credit searches?
Yes. As part of the loan application process, you will provide consent for the credit union to undertake checks with Credit Reference Agencies to assists with fraud prevention and also ensures we only approve applications from people who we believe will be able to repay what they borrow.
How long is the process?
The application form should only take a few minutes to complete.
What information will I need?
We need you to provide personal information, including; your National Insurance number, your home address for the last 3 years, your employment details, your bank and debit card details and details of your income and expenditure.
Will I get an immediate decision?
Yes. If your application meets the credit union’s assessment criteria and can be approved, you will be notified immediately and can complete the final stages of the process.
If the credit union is unable to approve your application immediately, it will need to be reviewed by a Loan Officer. This process is usually undertaken within one working day.
Will I need to send any extra information?
In most cases, your application will be completed online without the need for additional information. However, there may be occasions where you need to send further paperwork to help make a decision.
You will be notified by email if this happens and exactly what you need to do.
Can I apply for another JustBorrow loan?
Yes. If you have already repaid your previous JustBorrow loan you can apply for another by signing into your JustBorrow Account. The application process is much quicker as you won't need to go through a full application again. Please remember, all loan applications are subject to further checks with Credit Reference Agencies.
I already have a JustBorrow loan and would like to borrow more?
Unfortunately, you must fully repay your JustBorrow loan before you are able to apply for another one.
What if I change my mind?
Your statutory right of withdrawal allows you to withdraw from the agreement within 14 days of taking the loan out. You will be charged interest until the date the loan is repaid (which must be within 30 days of notifying us of your intention to withdraw).
To do so please Contact your credit union.