Published: 08/09/2021

What are you asking us?

Here we answer some questions you have been asking us.

Can I use this loan to pay off other debts?

Yes, you can, however before applying for a debt consolidation loan you should review your options to make sure that the loan which you are considering is right for you. We can’t advise but we can help!

What is a debt consolidation loan?

1Plus1 offer debt consolidation loans which by moving one or more of your current loans to one lender can make them more manageable.

Will I receive the advertised APR?

Here at 1Plus1 the rate you get is the advertised rate. With some lenders the APR you receive may vary from the advertised rate. Up or down – often up!

What is an APR – is yours fixed?

At 1Plus1 it is fixed.

APR is the annual percentage rate used to describe the overall cost of money borrowed. It takes into account the interest rate, when / how often it is charged, any fees charged up front or, other costs applicable to the loan.

An APR means you can compare different loan products.

The representative APR is the rate lenders reasonably expect most applicants to receive. It's not guaranteed - your personal APR could be higher or lower than the advertised, representative APR. 

Can you tell me how much a loan will cost without impacting my credit score?

You can easily check how much a loan will cost without affecting your credit score using our handy sliders At 1Plus1, like most other lenders, we report applications and loans to credit bureaux that will impact a credit score.  Guarantors are checked using a soft search so they are not affected.

Will I need a credit check?

As responsible lenders we do carry out credit checks using open banking and credit bureau searches on you and your guarantor.  Soft searches are completed for your guarantor.

When will I receive my money?

Most loans are paid out on the same day.

Can I change my mind about taking out a loan?

You may cancel the Agreement within 14 days of the date that we sign it, and any money loaned to you must be repaid immediately. Please contact us immediately at if you would like to cancel the Agreement.

When do I need to make my first loan repayment?

Your first repayment date will be agreed with you, normally one calendar month from the date the loan is paid to you.  You may change your payment date up to 3 times in a 12-month period, providing 14 days notice of a payment date change. Please call 0330 1200 313 to do this.

Can I pay my loan off early?

Yes, you can settle your agreement early in-full or in-part, at any time. Unlike some lenders, we do not charge a penny to do so. You just need to clear the balance that is left on your account. Please call 0330 1200 313 and you can repay your account in full, by card or bank transfer.

Can I get help if I get into financial difficulty?

We are always here to help you. It is important that you call us on 0330 1200 313 and we’ll talk you through the options available to you.

There are lots of organisations that can provide confidential, impartial and free help and advice. More information can be found in our here.

If you are already in touch with an organisation that is giving you financial advice, please let us know and we can deal with them directly with your approval.

1Plus1 offer personal loans backed by a guarantor, subject to both the borrower and guarantor meeting our affordability and credit worthiness criteria.

If you think you may be interested in a 1Plus1 Loan, please give us a call on 0330 1200 313 and one of our friendly staff will be more than happy to discuss the process with you, or start your application by applying online here.