Borrow Money

Cara Bradley

Written by

Cara Bradley

5 min read

Updated: 29/01/2024

Viva Money could help you search for a loan between £100 and £10,000.

How much money can I borrow?

Viva Money is a credit broker, not a lender.
We work with a trusted panel of lenders who offer loans between £100 and £10,000.

It’s important that you only borrow the amount of money you need and can comfortably afford to repay each month without this affecting your other, essential bills.

How long can I borrow money for?

The lenders on the Viva Money panel offer repayment terms of:

  • 3, 6, and 12 months for loans between £100 and £900.
  • 3, 6, 12, 18, 24, and 36 months for £1,000 loans.
  • 6, 12, 18, 24, and 36 months for loans between £1,100 and £2,000.
  • 12, 18, 24, and 36 months for loans between £2,100 and £2,500.
  • 12, 18, 24, 36, 48, and 60 months for loans between £2,600 and £7,500.
  • 18, 24, 36, 48, and 60 months for loans over £7,600 up to £10,000.

Who can apply to borrow money?

You can search for a loan with Viva Money if you:

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

Can I still borrow money even if I have bad credit?

Finding a loan when you have bad credit can be a difficult task, although it is not impossible. A number of the lenders on the Viva Money panel are happy to consider those with less-than-perfect credit scores.

If you have a low credit score and are approved for a loan, be aware that you might be offered a lower amount than you applied for and at a higher interest rate.

Do you need money urgently or can you wait for a while? Giving yourself some extra time to build up your credit score before applying could mean you’re able to access a loan at a more competitive rate of interest. A loan with a lower interest rate could well reduce the overall cost of your borrowing.

Can I borrow money if I have no credit history?

Perhaps you have a low credit score because you have never paid bills or borrowed credit before. This is known as having a ‘thin’ credit file.

Having a thin credit file could mean it’s harder to be approved for a loan. This is because lenders like to see how well you’ve managed credit in the past before they make a decision about your application.

How can I improve my credit score?

Whether you’ve got a low credit score or a thin credit file, it’s possible to take steps towards building a healthier credit record.

  • Pay your bills on time. Falling behind on or missing payments could seriously damage your score.
  • If you have a credit card, stay well within your credit limit.
  • Register to vote. If you’re on the electoral roll, potential lenders will be able to quickly identify you at your current address.
  • Keep on top of your credit report. Check it for any errors, and make sure the information on your report is correct. If you spot any errors or need to update your details, report these to your credit monitoring service.
  • Do some research into whether a credit-building credit card could help you. When used sensibly alongside other credit-building methods, this has the potential to help boost your score over time.

How can I apply to borrow money?

The Viva Money process is as easy as V-I-V-A!

Step one

Select your ideal loan and repayment term and complete our online form.

Step two

We’ll run a soft search and scan our panel of lenders for a loan to suit you. This process should take less than a minute and will not affect your credit score.

Step three

If we’ve been able to find you a match, you’ll be redirected to the lender’s website where you’ll complete some further checks, including a hard credit search.

Step four

If the lender is happy with the results of their checks, you’ll be sent a loan agreement. Read this through carefully before deciding whether to accept. You should be confident that you are comfortably able to make your monthly repayments without this affecting your other bills, such as your rent or mortgage, food, and utilities.

Can I borrow money fast?

Sometimes, car repairs, packed-up boilers and unexpected bills mean that we find ourselves needing to borrow money. These things generally cannot wait. We need the car to get to work, we need the boiler to heat our home, and we need to cover that vet bill as soon as possible.

At Viva Money, we understand that times like these require decisive action.

Our online application form takes less than five minutes to complete, and we’ll show you your result in around 60 seconds.

The lender’s checks may take longer, depending on how much additional information they need from you.
Some of the things lenders may ask you to provide could include:

  • Your bank details.
  • Proof of identity.
  • Proof of address.
  • Proof of income.

It may be a good idea to have this information to hand to avoid any unnecessary processing delays.

Some of the lenders on our panel are able to send your loan on the same day your application is approved. The time it takes for the money to show in your account, however, will depend on your bank’s policies and procedures.

I’m struggling to repay the money I’ve borrowed; what can I do?

If you’ve taken out a loan that you’re now struggling to repay, you should contact your lender as soon as possible.
Many of us shy away from openly discussing money, but please remember that your lender is not there to judge you. They will appreciate the fact that you have let them know of the situation and will work with you to find a solution.

You can find advice and tips on an array of money and debt related topics on websites such as MoneyHelper, National Debtline, and Citizens Advice.

Viva Money have teamed up with debt charity StepChange to provide a Money Health Check quiz. You can take the quiz online for free, with no impact to your credit score. The answers you provide will generate tips on how to work through your current financial position.