Loans for people on PIP
Loans for people on Personal Independence Payment (PIP)
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Representative Example
If you borrow £500 over 12 months, your total repayment is £929.40. Your monthly instalments will be £74.95 and a one off 6% administration fee of £30. Annual Interest (fixed) is 125% per year with a 280% Representative APR.
New customers can apply for a loan of up to £1000 for between 6 and 12 months. Existing customers can apply for a loan of up to £3,000 for a maximum 18 months.
Loans for people on PIP
At Fair Finance, we will consider your loan application even if you are receiving Personal Independence Payment (PIP). We believe that everyone deserves access to fair and affordable credit, regardless of whether they are receiving benefits. At Fair Finance:
- We assess applications from individuals receiving PIP just like any other application, by evaluating their income, which may include PIP as well as any other sources of income, such as a part-time job.
- We treat applicants receiving PIP the same as other applicants, primarily considering their income from PIP and other financial sources when assessing their eligibility for a loan.
We then estimate what is affordable for you to repay, taking into account your current credit commitments through a credit search, as well as your ongoing expenditures.
We don’t discriminate against people receiving PIP. If you apply online or by phone, the process is straightforward and simple.
The Fair Finance Service
As a first-time client with us, you can:
- Borrow up to £1000
- Repay over 26 to 52 weeks (6 to 12 months)
Choose weekly, biweekly, or monthly repayments, making it easier and more convenient to repay.
Use our calculator above to see how affordable our rates are.
When you apply online, we aim to respond within one working day, but usually, we get back to you within a few hours. We understand that life can bring emergencies, and we prioritise speed and efficiency to get you the support you need.
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WHY BORROW A FAIR PERSONAL LOAN
Bad Credit? On Benefits? New to the UK?
Discounts for existing customers
No hidden surprises
LET US ANSWER YOUR FAQ’s
We are a direct lender providing affordable loans of up to £3000
Why should I come to Fair Finance?
Fair Finance is a social enterprise. We aim to tackle financial exclusion. We build products for people with financial problems. We offer the cheapest price we can that is responsible and sustainable. We are actively transparent clear and honest.
What documents do I need?
Our aim is to make applying for a loan as easy and convenient as possible. We'll use electronic identity and credit checks, as well as bank statements to assess your application. In most cases, this is all we’ll need. However, if we can’t verify certain information this way we may ask you for more documents such as payslips or benefits letters, a proof of ID or proof of address.
Do you charge late repayment fees?
We don’t charge any fees for late repayments or making early or extra payments.
Any more questions?
Money worries? Need information or Advice?
