Take on life together. Apply for a joint loan.

Want to borrow with your partner? Or a friend? Or a family member?

With a joint loan from us, you could borrow up to £50,000 with one other person.

You'd then pay this back over up to 10 years (depending on what  you're borrowing for).

The pros of a joint loan:

• You might be able to borrow more – as we'll look at what you both earn.
• You could use a joint account to pay us back – or you could set up a Direct Debit from just one of you. It's your choice.
• You're in it together – the loan is for a shared goal, so a joint loan could make sense. 

The cons of a joint loan:

• It could affect your credit score – borrowing together links your finances. So if your partner, friend, or family member, doesn't have a good credit score, this could affect yours.
• If they don't pay, you'll have to – you're responsible for the whole loan, not just your half. So, if they don't pay, you'll have to pay their share too.
  
• It's not that easy to remove someone from the loan – if you ever want the loan to be just yours, you can't just remove their name. Instead, you'd have to apply for a new loan in your name (it's not guaranteed you'll get this). If you get this individual loan, we'll use it to close your joint loan, then replace it with a loan in just your name.

Yes – you can use your loan for more than one thing. 

For example, you could use your loan for both home improvements and debt consolidation (rolling different debts into one loan).
 

When you apply, we'll ask what you're borrowing for.
Choose whichever you'd spend most of your loan on.

No – it's not quite as simple as that.

If you ever want the loan to be in just one name, one of you will need to apply for a new individual loan to replace your joint one.

OK, let's say that you want the loan to be in your name only... 

You'd apply for a new loan, just for you. We'd then use this individual loan to pay off the joint loan.

Take care:

• You might not get a loan in just your name – it depends on your credit score and circumstances. 
• Your loan might not be the same – if you get the loan, the amount you get and/or the interest rate could be different.