5 tips for a successful loan application

FAIRshare provides fair, manageable loans, with flexible repayments and no penalties.  All applications are considered by a Loan Officer, and not just ‘a computer’.  Following these 5 tips for a successful loan application will help avoid delays and help us make the right decision for you.

As a responsible lender we do not lend more than you can afford to repay.  To do this, our Loan Officers use the information you supply on your loan application to assess affordability.  Inaccurate information causes delays, and may even result in an application being declined.

1. Plan ahead

We aim to give you a decision within 48 hours of receiving all supporting paperwork, but please allow more time.  It may take you a couple of days to gather the necessary paperwork, or our Loan Officer may request further information, for example.

2. Take time to complete the application accurately

We use your personal details to carry out a credit check, and incorrect information may result in a ‘fail’.  For example, use your full names and not abbreviations; if you’re known as Chris, but your legal name is Christopher, you must use Christopher on the application form.  Also make sure you include any middle names you have.  Include all addresses you’ve lived at for the last 3 years; this is essential.  Check your email & telephone number are correct so we can contact you – its easy to mistype an email or number if you’re rushing!

3. Have your bank statements to hand

You’ll be asked for your income & expenditure as part of our loan application – make sure you enter actual amounts shown on your statements, instead of guessing.  Your food costs for example, include eating out, takeaways and so on, and not just your main food shop.

4. Include everything

Please answer all questions about your credit history and expenditure accurately.  We want to work with you, and don’t make lending decisions based solely on your credit check.  However, if our Loan Officer sees items on the check which you’ve not included, they may wonder what else you’re not including.  Help us to make the right decision for you.

5. Send statements promptly

We can’t look at your application until we’ve received 2 months bank statements up to the date of your application, so make sure you email, post or deliver them to FAIRshare as soon as possible.  If you use online banking, you can usually download up to date statements, or pop into your branch and ask for copies.


The interest rates we can charge are capped by our regulators which makes us considerably cheaper than some lending options.  Yes, it may be a little more work to apply for a FAIRshare loan compared to some other lenders, but the savings can be substantial.  Check out how you can save almost £2000 buying a new Smart TV compared to a weekly payment store.