Before You Apply
During application
After you’ve applied/once you have your loan
Who Can Apply For A Vanquis loan?
You can apply for a Vanquis loan if you:
- Are between the ages of 21 and 65
- Live in the UK
- Hold a current UK bank account
- Have an income i.e. employed, self-employed or retired with pension
- Are not in / do not plan to enter into a Debt Management Plan, Individual Voluntary Arrangement County Court Judgement or bankruptcy soon
What do I need to apply for a Vanquis loan?
To apply for a Vanquis loan, we’ll need some of your personal details:
- Contact number
- Email address
- Home address
- Employment status
- Net monthly income (how much your earn after tax)
- Outgoings
- Bank details and access to check your income and expenditure
How much can I borrow and over how long?
You could borrow between £1,500 - £10,000 over 12 to 60 months, subject to affordability. The exact amount you’ll be able to borrow, and the loan term, will depend on your financial circumstances.
How do I apply for a Vanquis loan?
There are 3 steps when applying for a Vanquis loan:
- Online pre-approval – This is where we check your details and that you can afford the loan.
- Chat over the phone with our Yorkshire team – It gives us an opportunity to check the loan is suitable for you and answer any questions you may have.
- Check documents and sign your loan agreement – Final confirmation from you that you’re happy to go ahead with a loan
Visit our How It Works page for more details.
Do Vanquis loans charge fees?
We don’t charge any hidden fees, even if you miss a payment. This means you’ll only ever pay back the amount you agree upfront. The total amount of interest you’ll pay is shown to you during the application process. To see a quick example of the interest you’ll pay, check out our repayment calculator.
Can I see if I’m eligible for a loan?
Whilst going through the application process, after you’ve entered your financial details and confirmed correct you’ll be shown your quote. At this stage you can simply stop your application. Bear in mind that you’ll need to go through the process again if your application times out.
What can I use a Vanquis loan for?
Our loans can be used for large purchases or expenses. Some common uses are home improvement, holidays, new car and family life events.
How to make a complaint?
We’re sorry that you’re unhappy. Please visit our contact us page for all the details you need to make a complaint.
What can't I use a Vanquis Loan for?
Please do not try and take out a Vanquis loan for the intention of gambling with the money. We also don’t provide loans suitable for debt consolidation.
What is a ‘soft’ credit search?
A ‘soft credit search’ is an eligibility check for credit without affecting your credit score.
What is a “hard” credit search?
When applying for a credit product (like a loan), in the final stage of the application process the loan vendor carries out a full credit check which will be recorded on your credit file. This is more commonly known as a ‘hard credit.
If my application is successful, how quickly will I get my money?
Your money will be sent to your bank account the day you’re approved, or the next if it’s after 10pm. If you sign your documents by hand and post them to us, you’ll get your money 14 days from when you downloaded them. This is dependent on the signed Loan Agreement being returned to us, with no errors, within 30 days of when you started your application.
Who can I speak to if I have a question or need help?
We’re a chatty bunch and love to help customers. You can contact us by phone, post or by using our website contact form.
Call us: 0800 484 0080
Monday – Friday excluding bank holidays
9am – 5pm
https://www.vanquis.co.uk/contact-us
Vanquis Loans, No. 1 Godwin Street, Bradford, West Yorkshire BD1 2SU
What’s a Continuous Payment Authority (CPA)?
It's a bit like a direct debit, but we'll use your card details instead of your bank details to set up the payment. We’ll take your loan payments using a CPA throughout your loan term. As soon as your loan is fully paid, the CPA is cancelled.
How do we use your data?
We only collect the data we need, to provide you with the product or service you require and to manage your account(s) with us. In most cases this will mean that we’re processing personal data such as:
- Information required on your application form such as name, address, income, outgoings etc
- Information provided to us by the Credit reference agencies on your finance with other credit/lending organisations
- Any additional information you provide whilst we are administering your account such as income & outgoings and personal circumstances
You can find out more information by visiting our Privacy Policy.
Why do you need to call me?
When you’re going through the process of applying for a loan with us, we’ll give you a call on the phone number you gave us to ask a few questions. These calls are the first time we get to have a chat with you and are essential for us to make sure you are who you say you are.
These calls also give you a chance to ask a real person a few questions.
Finally, the calls give us a chance to make sure the loan is right for you.
Can I email / post / hand deliver my supporting documents?
Sure! We prefer you use the document upload feature on our website as it’s safer and quicker. But we still have details for postal delivery on our website, you can email your documents by getting in touch through our contact form and asking for a secure link to share documents. If you do email us your documents, please be as clear as you can with your application details to help us combine your online and email application.
Vanquis Loans, No. 1 Godwin Street, Bradford, West Yorkshire BD1 2SU
I have provided access to my bank through Open Banking, why do you need me to provide supporting documents?
Some banks provide less detail than others through Open Banking, we need to be certain we’re not selling you a loan that is not sustainable.
What’s Open Banking?
Open Banking is just a way of sharing data securely between banks and other financial companies that need to use the information. It gives us a understanding of your finances and means that we can make a faster decision about your loan. We use Experian’s Open Banking, so when you go through the application you’ll be redirected to Experian for this section.
What’s APR?
The APR or Annual Percentage Rate, on your loan is the cost of your loan shown as a percentage.
When will I find out if I’ve been approved?
We’ll let you know if you’re after we’ve had a chance to speak to you on the phone.
How to make a complaint?
We’re sorry that you’re unhappy. Please visit our contact us page for all the details you need to make a complaint.
How do I make a loan payment?
Loan payments are made straight from your bank account using a Continuous Payment Authority (CPA). We’ll set this up with you during the final stage of the application process. We’ll agree with you upfront the amount to be collected by your chosen card on your preferred payment date. This information won’t change unless you ask for it to.
What happens if I can’t make or miss a payment?
If you ever find you’re struggling to make a payment, even if you haven’t yet missed a payment, please get in touch with us as soon as possible. We’re a friendly bunch and there are ways we may be able to help. We never charge fees for late or missed payments, you only pay back what you agreed upfront.
However, a late or missed payment could impact your credit file and ability to get credit in the future. We’ll always do everything we can to help you. Visit our Money Worries page for more useful information.
What should I do if my financial situation has changed?
Get in touch with us as soon as you can. We’re dedicated to being a responsible lender. If you pick up the phone and talk to us or send us a message we may be able to help.
0800 484 0080
I don’t need my loan anymore; can I pay it back early?
Yes, if you’d like to pay your loan back early please get in touch with us.
How can I change my loan payment date?
Phone, email or write to us. Let us know you’ve had a change in situation as soon as you’re able to and we’ll try to help. Please consider your new dates and ensure you don’t fall behind with payments.
Why was my loan application declined?
There are many reasons your loan could have been declined, we look at how suitable we believe the loan is for you, whether you can afford it, and how sustainable the payments would be over time.
Can I make extra payments towards my Vanquis loan?
Yes. If you can make additional payments to your loan please feel free to do so, this will reduce the amount of interest your loan costs you over time. Bear in mind paying off extra towards your loan doesn’t count as a monthly payment, so you will still need to make your scheduled payment even if you’ve paid extra off that month.
Can I change my CPA details?
Yes, you can do that by contacting us. But remember if you do, you are responsible for making all your monthly payments in full and on time.
How to make a complaint?
We’re sorry that you’re unhappy. Please visit our contact us page for all the details you need to make a complaint.
How do I cancel my loan application?
You have 14 days to change your mind starting the day after the day we entered into the agreement. If you decide to withdraw (change your mind about the loan) you need to contact us and pay back the loan no later than 30 days after telling us. Interest will be charged at a daily rate as set out in the agreement.
Please get in touch with us if you need some help with this.