This rate is available on loans between £7,500 and £19,950. Other loan amounts are available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR.
Our Quick Quote tool can also help you find if you're likely to be approved for a loan. There's no impact on your credit rating. We'll show you how much you may be able to borrow, your personalised interest rate and monthly payments.
If you use Online Banking, apply and are unconditionally accepted before 5.55pm Monday - Thursday, you could have the funds the next working day.
You can still apply online if you're not registered for Online Banking. Subject to agreement, we’ll send your documents by post – these typically arrive within 3-5 days. Simply check, sign and return the documents to us. Alternatively, you may receive an email or text message inviting you to provide more information electronically via our DigiDocs portal. If your application is successful, you could have the funds in your account within two days.
If you work as a contractor, are a sole trader, work under a partnership, are a director/owner of a limited company or are a member of a limited liability partnership you are still able to apply for a loan providing you are 18+ and a UK resident with either a NatWest current account (held for 3+ months), credit card or mortgage (held for 6+ months).
As a responsible lender we will need to ensure that you are able to afford the monthly loan repayments. To do this we will need to see evidence of your income and review the on-going performance of your business.
To do this you will need to provide the below:
Last 2 years finalised accounts
Where the latest accounts are more than 12 months old, then confirmation of performance, in the intervening period should be obtained from an independent source e.g. accountant, auditor
If you own more than one business please provide the accounts for all of these
If accounts are not available, please provide the last 2 years Self-employment SA302 Tax Returns
In some circumstances we may require additional information.
If you are a contractor you will also need to provide:
Evidence of a history of employment over the past year
Evidence that a contract for further work is in place
When you complete your loan application form, the income figure you provide must match that on your Tax Return Form, SA302 or detailed in your finalised accounts. If you haven’t received a paper copy of your SA302 from HMRC it can be printed online.
We're really sorry about that. We understand this might be disappointing, but we can only approve applications that meet all of our criteria.
It might be because you tried to borrow too much or over too short a time. Use our Quick Quote tool to see if entering a different amount or repayment length will make a difference. Don't worry, this won't affect your credit score.
Your circumstances change over time. Our assessment takes into account any current information that is available to us. It may, therefore, be inappropriate to offer you additional credit on this occasion.
Yes, although we cannot give any assurances that our original decision will be overturned. You should support your appeal by providing any additional relevant information that was not taken into account at the time of our original decision. Full details of our appeals procedure can be obtained from your local branch.
We'll usually process your application within 3 working days. Look out for an email, text or letter from us outlining your next steps.
If we can agree your loan, we'll send you an email, text or letter confirming when we finally approve it. In this case, a confirmation letter, plus copies of the application documents, including a copy of your loan agreement, will be sent to your online mailbox along with a text or e-mail to notify you when the documents have been sent to your mailbox.
You have the option to repay your loan early, but you will need to pay an early resettlement fee.
When repaying your existing loan early, you'll pay 58 days interest (28 days if loan term 12 months or less). If the remaining term of the existing loan is less than 58 days (or 28 days) you will pay interest on the remaining number of days to close the loan early.