£200 Loans

Cara Bradley

Written by

Cara Bradley

3 min read

Updated: 30/01/2024


Sometimes, all it takes to send our finances into turmoil is a leaking washing machine or burst tyre.
When we don’t have the cash to spare or the savings to stretch, a £200 loan could help with life’s unexpected curveballs.

How long will I have to repay my £200 loan?

Viva Money is a credit broker, not a lender. We work with a panel of trusted lenders who offer £200 loans that can be repaid in instalments over 3, 6, or 12 months.

Who can apply for a £200 loan?

It’s worth bearing in mind that each lender has their own eligibility criteria when it comes to applying for loans.
Generally, to apply for a loan, you must:

  • Be over the age of 18;
  • Have a UK address;
  • Have a UK-issued bank account with a valid debit card; and
  • Have a regular source of income paid directly into your bank account.

You must meet the above criteria to search for a loan with Viva Money.

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Can I apply for a £200 loan with bad credit?

You can still apply for a £200 loan if your credit score is less-than-perfect.
You may find it more difficult to be accepted, however. While some of the lenders on our panel specialise in providing loans for people with bad credit scores, you may find that if you are offered a loan, it may be at a higher interest rate, or for a more manageable amount. Lenders will want to be sure that a loan is affordable for you and your circumstances.

Can I apply for a £200 loan with no credit history at all?

If you’ve never borrowed credit or paid bills before, you may have what is known as a ‘thin’ credit file. This could make it trickier to get approved for a loan.
People with a thin credit file could be seen as a risk by some lenders due to the fact that they are unable to understand how you manage your finances.

Viva Money work with a large panel of trusted lenders, some of whom are happy to consider loan applications from those with ‘thin’ credit files.

If you have a thin credit file and you’re hoping to build your credit score, you may wish to look into a credit building credit card. When used sensibly alongside other credit-building methods, these credit cards could help you establish your credit profile.

How can I search for a £200 loan with Viva Money?

Our online form is straightforward and can be accessed 24 hours a day, meaning you can search for a loan whenever is convenient for you.

Step one

Choose how much money you’d like to borrow and your preferred repayment term. Fill in our simple online form - this should take no more than five minutes to complete.

Step two

Using your information, we’ll run a soft credit search and present your application to our lenders. If we’ve been able to match you with a lender, you’ll be redirected to their website to make a full application. You will be shown the result on your screen in around 60 seconds.

Step three

You’ll complete some additional checks with the lender, including a hard credit check. A hard credit check will be visible on your credit report and could affect your credit score.

Step four

If the lender is satisfied with the results of their checks and offer you a loan, you’ll be sent a loan agreement. Check this carefully before you sign it. You should be confident that you can comfortably manage your monthly repayments without this affecting your other essential bills.
Make your repayments on time every month until you have cleared the balance of the loan.

I’m struggling with money; is there anything I can do?

Money worries can leave us feeling anxious.
We understand that opening up and talking about our finances isn’t easy, which is why we have teamed up with StepChange to provide a free, online Money Health Check quiz. The answers you provide will generate confidential advice on how to work through your current financial concerns.

You can also find a range of helpful information on sites such as MoneyHelper, National Debtline, and Citizens Advice.

If you’ve taken out a loan that you’re struggling to repay, you should contact your lender as soon as possible. They will want to work with you to find a suitable solution.