Affordability Check

Our loans could help you pay for those unexpected expenses, whatever they may be. As we are a responsible lender we conduct affordability checks for every loan, even if you are an existing customer.

We treat all our customers fairly because you are important to us, if it’s your first loan or you’re an existing customer we’re here to help you along the way.

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What is an affordability check?

Once you have applied for one of our cash loans we will conduct an affordability check before we approve the loan. An affordability check is the assessment we carry out to establish whether the loan repayments are affordable over the term you have applied for.

How am I assessed?

We make sure all our loans are affordable, sustainable and suitable for our customers before approving them. The repayments need to be affordable on top of your current outgoings. This is also referred to as a creditworthiness assessment.

As part of the process, we may ask you to verify your income to help confirm the information you’ve already provided. This process doesn’t require you to upload any documents as we’ve partnered with consents.online so we can simply verify your details via access to your online banking using Open Banking. We will require access to the account that regularly receives your income payments to verify a minimum of 3 months of income to proceed with your application. This is a secure process, and any information you share will be treated confidentially and used only for its intended purpose.

What if I fail the affordability check

If the affordability check reveals that the loan is not affordable, then we will be unable to offer you a loan. In some circumstances we may offer you a smaller loan with lower repayments, however this is not always possible. If your financial circumstances change, you are welcome to reapply after 30 days.

Can I apply for a loan with bad credit?

If you need a loan but you’ve had credit problems in the past, we know it can be difficult trying to obtain one. At Dot Dot Loans we carefully evaluate each application, this means if you’ve got a less than perfect credit history, your application will still be considered.

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