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Frequently Asked Questions

Find answers to our most frequently
asked questions below.
Can't see what you're looking for? Contact our friendly team.

Who are Viva Money?

Viva Money is a UK-based credit broker, authorised and regulated by the Financial Conduct Authority.

How does it work?

Viva Money search our panel of lenders, credit brokers and credit monitoring services to find the best loan for your individual circumstances. If you are accepted by one of our partners, you will be redirected to their website to complete your application.

Do you charge any fees?

No, Viva Money do not charge any fees. Our service is free. We will never ask you to send us any money, voucher codes, or payment of any kind.

How much money can I apply for?

Viva Money can search for loans between £100 and £10,000. You should always think very carefully before applying for credit and you should never borrow more than you need or can afford to repay.

Can I spread my loan repayments?

Our lenders have their own, individual loan terms, but most will allow you to spread your repayments from over three months up to sixty months, depending on the amount you borrow.

What is a soft search?

A soft search is a way for lenders and brokers to check your creditworthiness without leaving a ‘footprint’ on your credit report. A soft search can give you an idea of your chances of being approved for a loan or credit card. It does not affect your credit score. It is only visible on your credit report to you and cannot be seen by other lenders.

What is a hard search?

Viva Money is a credit broker and not a lender. If your application is matched with a lender, we will transfer you to the lender’s website where you can review the full terms and conditions of your loan offer. Remember, you are not obliged to accept a loan offer if you do not feel it suits your requirements or circumstances. If you choose to proceed with a loan offer, your lender will carry out a hard credit check. This is sometimes known as a full credit check. This will have an impact on your credit score and will be visible on your credit report.

How much will it cost me to take out a loan?

Repayment terms and the rate that you will receive depend on your individual circumstances and, as a credit broker, we are unable to advise on these before you make an application. If your application is matched with a lender, you will be provided with the full terms and conditions of your loan, including your interest rate and details of your repayments, by the lender. You are under no obligation to proceed with this quote if you feel it does not suit your requirements or your circumstances.

What is a Representative APR?

The Representative APR is the annual percentage rate that 51% of customers have been offered for the financial product that is being advertised. It gives you an idea of the overall cost of the loan including interest and any additional fees. Representative APR is often used to compare different credit products and their costs. The rate you will be offered depends on your lender and other factors, such as your credit score.

Will I be accepted for an unsecured loan?

Viva Money can check whether you are likely to be accepted for a loan. If we match you with a lender, there is a good chance you will be accepted for the loan providing the details you have given us are accurate. Before offering you a loan, lenders will review your credit report and look at your income, employment, and debt-to-income ratio to determine your ability to repay the loan.

I am unemployed; can I apply for a loan?

If you are unemployed, it is unlikely that you will be approved for a loan. Most lenders will not consider loan applications where the applicant is not in paid employment. If you are unemployed and need help with your finances you can contact StepChange or MoneyHelper for confidential, impartial advice.

I am on benefits; can I apply for a loan?

If you are on benefits, and this is your only source of income, you may find it more difficult to be approved for a loan. Most lenders will not accept applicants who are unemployed. However, if you are in receipt of benefits in addition to a regular income from full- or part-time employment, you may still be eligible for a loan.

I am a student; can I apply for a loan?

If you are a student in full-time education, you are unlikely to be eligible for a loan unless you have a reliable source of income from employment.

Can I get a loan to consolidate my existing debt?

Viva Money may be able to help you find a loan to consolidate existing lines of credit. However, you should consider whether the APR of the loan you are matched with is less than the APR of your existing debt. If it is lower, a debt consolidation loan could help to make your debt repayments more manageable. If you wish to get advice on any outstanding debts, you can visit StepChange.org for confidential, impartial advice.

When will the money be in my account?

If accepted, your loan could be sent to your account on the same day. However, the time it takes to show in your account varies. It will depend on a variety of factors including the time of day that you make your application, and whether your bank accepts Faster Payments (some lenders may include an extra charge for this service).

Will Viva Money make sure my details are secure?

Yes. All your personal data is kept secure and confidential. All the information you provide is stored in compliance with UK GDPR 2018 and kept secure in accordance with our Privacy Policy.

Has my application been accepted?

Most lenders will give you a quick decision. However, sometimes a lender may ask for additional information, such a recent pay slip. If you are waiting for a decision on your application, the lender will usually keep you updated by SMS or email. If you have a query about the progress of your loan, please contact your lender directly. If you are still unsure, one of our team will be happy to help. In order to discuss your application, we will ask you for some personal details to verify your identity.

What if my application is unsuccessful?

Viva Money will provide every effort to find you a loan. If we are not able to do this, we may transfer you directly to alternative firms and services, such as credit monitoring solutions. We may also show you alternative products. This might include credit card products, credit builder tools, and debt management solutions. Some alternative product providers may charge a monthly subscription fee; however, you are in no way obliged to use these services if you do not feel it is suitable for you and your circumstances. You should always read the terms and conditions carefully before agreeing to any financial product or service.

Why did Viva Money phone me?

We will never call you unless you ask us to. This is because we are an online credit broking service. We do not have a call centre. If someone calls you claiming to be from Viva Money, it is not us.

I have been contacted by lenders and brokers after my application. Why is this?

Viva Money has a legal obligation to manage your personal data in accordance with the Data Protection Act 2018. When you apply at Viva Money, we share your information with our panel of lenders, credit brokers and financial service providers who are authorised to provide the product or service you are looking for. If you are accepted by one of our partners, you will be redirected to their website to complete your application. You should read their privacy policy to understand how they will process your personal data. You can opt-out of receiving messages at any time.

How do I unsubscribe from Viva Money emails and text messages?

You can email us using our contact form and we will be happy to do this for you.

I have been charged a fee. What should I do?

Viva Money do not charge a fee for our service and will never, ever take money from your account. If you have been charged a fee by a credit monitoring subscription service, you will need to contact them directly to cancel your subscription. We cannot contact them on your behalf.

I’m worried about my finances, what can I do?

If you are worried about debt or your personal finances, you can take the first step towards getting back in control with free, impartial advice from MoneyHelper or take StepChange's Money Health Check at stepchange.org.

INFORMATION

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*If you are approved for a loan using our credit broker service, your loan could be sent to your bank within minutes. The time that it takes for the cash to be received in your account will depend on the lender you are accepted by and your bank's policies and procedures.

Our services are designed for UK residents and are offered on a non-advised basis solely for informational purposes. We do not charge any fees, endorse specific products or providers, or provide financial advice. The information on this page is intended for informational purposes only and should not be considered financial guidance.

Viva Money is not a lender but is a fully authorised and regulated credit broker which introduces borrowers and lenders for the purposes of entering into short-term unsecured loan agreements.

Viva Money does not charge customers a fee for using its broker services, but it receives a commission from lenders, brokers and alternative consumer credit providers if a customer enters into a consumer credit agreement with a lender or broker following an introduction through this website. If you would like further information about this commission, please contact us

Viva Money will provide every effort to find you a loan. If we are not able to do this, we may transfer you directly to alternative firms and services, such as credit building tools, which may charge you a monthly fee if you choose to use them.

Viva Money is a registered Trading Name of Digitonomy Limited, Registered in England and Wales (Company number 08385135), Registered Office; Steam Mill Business Centre, Steam Mill Street, Chester, Cheshire, CH3 5AN. Digitonomy Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 690249. Licenced by the Information Commissioner’s Office, (registration number ZA007309)

Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk