Frequently Asked Questions

We answer everything you need to know about applying with All Purpose Loans and products we offer. For any additional queries you may have or potential partnerships, please contact us directly.

Are you a broker or a lender?

All Purpose Loans is a credit broker, not a lender. We are regulated and authorised by the FCA as an intermediary to broker financial products for consumers and businesses in the UK. Every partner we work with is regulated by the FCA and is assessed beforehand.

Are you regulated by the FCA?

Yes, All Purpose Loans can be found under the FCA’s Financial Services Register under firm reference number 812876 as an Appointed Representative of Everything Financial Ltd who is authorised and regulated by the Financial Conduct Authority, firm reference number 742815.

Are loans secured or unsecured?

We feature a combination of secured and unsecured loans. Some products may be subject to providing collateral such as car finance, business loans and buy to let mortgages in which case this will be secured against your home, vehicle or business.

Some products are fully unsecured and your eligibility is based on your credit history and affordability, such as personal loans, peer-to-peer loans and other short term loans.

Other products can be either secured and unsecured depending on the individual’s circumstances and credit status including debt consolidation loans, home improvement loans and business loans.

Do I need a guarantor?

No, you will typically not require a guarantor for the financial products we offer, unless you specifically select a guarantor loan when we present you with our personalised loan results.

Is my credit score affected when I apply?

No, our eligibility checker runs a ‘soft credit check’ on your credit file meaning that it does not stay on your record and will not negatively impact your credit rating. If you continue through our site to apply with one of our partnered lenders, they will typically run a ‘hard credit check’ which will stay on your file for 12 months as a record of the credit search. However, this will not impact your credit rating unless you complete multiple searches in a short space of time.

Can I apply with bad credit?

Yes, our partners offer a range of products which are specifically for customers for bad credit and poor credit histories, including a history of CCJs and IVAs. Where bad credit history is present, you may be required to provide collateral in the form of securing the loan against your vehicle or home.

Do you charge any fees?

No, we do not charge any fees for applying through our website, instead we take a small commission from the lender upon the successful approval of your application. The only fees you are charged are by the lender who has successfully funded your loan, whereby you will be charged interest which has been clearly presented to you in writing beforehand.

What information do I have to provide?

Our loan application requires some very basic information including how much you wish to borrow and how long for and some personal information including your name, residential information, age, employment status and monthly income.

A soft credit check will be run against your credit file and using all this information will allow us to match your application with the best product to suit your requirements.

When can I apply?

You can apply via our website, 24 hours a day, 7 days a week. All applications are completed online and not over the phone or via the post.

How much can I borrow?

Customers can borrow £1000 to £1 million for all purposes including holidays, paying off debts and more.

How long does it take to receive funds?

Depending on the purpose of your loan and the best loan product for you, funds can typically be available in 1 to 3 working days. However, some financial products can be made available in just a few hours, such as unsecured loans of less than £2,000. However, larger loans such as car finance or buy-to-let mortgages can take up to a few hours.

Do you pass on my information to other companies?

We do not pass on your information to any other companies without your permission.

When completing a loan application on our website, your personalised results will give you a list of choices based on your requirements. You can then choose if you want to proceed and continue one of our featured lenders.

We only request information about your credit score with your consent.

How do you keep my data safe?

Your personal information is kept safe through our secure website, which is hosted on a secure server (https). In addition, we take necessary procedures to keep your data safe and we are registered with the Information Commissioner, Licence No. ZA434846.