How do I change my phone number? You can change your phone number by calling 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
What is the Reward Loan and how does it work? The LiveLend Reward Loan is a loan that rewards you for improvements in your credit score. When your credit score goes up, the interest rate you'll be charged will go down. We'll look at your credit score every three months and if your credit score has gone up by 25 points, we'll automatically reduce your loan rate. Don't worry, this check won't affect your credit score. For every 25 points that your credit score increases, we'll reduce your loan rate by 2%, as long as you're up-to-date with your repayments. We'll reduce your loan rate straight away and reduce your monthly repayments, so your loan will cost you less! Your loan rate can reduce to 9.9%. We'll never put your rate back up, even if your score gets worse. The credit score we use to review your eligibility for rewards is taken directly from Equifax on the day that you apply for our loan. We'll always use this score for your Reward Loan. Our loan APRs (Annual Percentage Rates) start at 10.9% to 39.9%. Representative example: 25.7% APR representative based on a loan of £5,000, repayable over 42 months at an interest of 25.7% pa (fixed). Monthly repayment of £174.65. Total amount payable £7,335.28. Our representative APR applies to loans from £1,000 to £12,000, for terms of 12-60 months. Our loans are 25.7% APR Representative.
I already have a loan with you, can I borrow more? Our customers aren't able to borrow more on top of their existing loan. If you need some extra support with your loan repayments or would like to chat to us about your loan in general, get in touch with us so we can help.
Where do I find information about my Direct Debit You can obtain information about your Direct Debit by calling 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
Why is my Reward Loan score different than my other credit score I can see? We review your eligibility for a reward based on a credit score provided by Equifax. This score is called a ‘management score’. It’s different from the score you’ll see on your credit reports which show you how likely you are to get accepted for credit. It’s shared with us from Equifax so that we can measure your score movement over time. We compare this score against a score taken directly from Equifax on the day that you apply for our loan.
We review your eligibility for a reward every three months and for every 25 points that your credit score increases, we'll automatically reduce your loan rate by 2%, as long as you're up to date with your repayments.
What if I want someone to act on my behalf in dealing with my loan account? If you need to put someone else in control of your account, for example, because you lack mental capacity to look after your own financial affairs, please get in touch with our team. We’ll need a copy of your registration of Power of Attorney.
Why haven't I earned a reward? This could be down to a number of reasons. We review your eligibility for a reward based on a credit score provided by Equifax. This score is called a ˜management score'. It's different from the score you'll see on your credit reports which show you how likely you are to get accepted for credit. It's shared with us from Equifax so that we can measure your score movement over time. We compare this score against a score taken directly from Equifax on the day that you apply for our loan. We use this score to review your eligibility for a reward every three months. Your score will need to be at least 25 points higher in order to earn a reward and you'll need to be up to date with your loan repayments. Your loan rate can reduce to 9.9%, so if your loan is at 9.9% or below, you won't be able to earn any more rewards.
Why has a monthly repayment been taken after I've settled my loan? If your usual monthly repayment date was due to be taken three working days or less after the date you settled your loan, we wouldn't have been able to cancel your Direct Debit in time. This means that your regular repayment would've been taken as usual but we'll refund the money back to you as soon as we can. Get in touch if you'd like to speak to us about this by calling our team on 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
Will checking my credit score every month impact my credit score? No, don't worry, this check won't impact your credit score and won't be seen by other lenders.
How do I change my bank details for payments? If you'd like to change the bank account your monthly repayments are taken from by calling our team on 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales). As a responsible lender, it's important that we can verify your new details. If we can't, you won't be able to use a different bank account and we'll continue to take your loan repayments from the bank account we verified when you took out the loan with us. If you'll struggle to make your repayments from this account, get in touch with us so we can help.
Changing your bank details won't automatically update your Direct Debit. If you need to change your Direct Debit, get in touch with us.