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How it works

Vivus loans are all about helping you manage a short-term financial need. And we do that by lending you a small amount of money which you’ll repay when you next get paid.

It’s a simple product, but one you must think about carefully and make sure you completely understand before you decide to apply, to ensure it's suitable for your needs.

High-cost short-term credit is an expensive form of borrowing and not suitable for sustained borrowing over longer periods.

WARNING: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

If this is your first Vivus loan, you can borrow from £100 to £500, so long as you can comfortably afford to repay the loan on the date you agree, and subject to our creditworthiness assessment. We need to get to know each other, so to help us do that, the interest rate on your first Vivus loan will be a special rate.

If you’ve borrowed from us before and repaid your loan on time, next time you may be able to borrow up to £1000, as long as you can afford the repayment, and again subject to our creditworthiness assessment.

The date you repay your loan will depend on when you get paid.

The minimum loan term is 10 days, so if you get paid in the next 10 days, your repayment will be due when you get paid next month, rather than this month.

If your next pay day is more than 10 days away, then usually that will be your repayment date.

If you’ve had loans with us before, we may be able to offer your next loan for longer – we’ll let you know your options when you apply.

You have a right to repay your loan early, in full or in part. Full details are set out in our credit agreement. For more information, contact us on 03300 245000.

Your first Vivus loan is offered at half price, so you’ll pay interest at 0.4% of the loan amount each day you have the money. So if, for example, you borrow £100, that adds up to an interest charge of 40 pence per day until you repay the loan.

Representative Example: Borrow £300 for 25 days. Interest rate 146% pa (fixed). One repayment of £330. Representative 302.1% APR.

If your payment is more than 5 days late you will also have to pay is a £15 late payment fee. You will only be charged this once, and we’ll never add interest to it.

If you borrow from us again, you’ll pay 0.8% of the loan amount in interest for each day you have the money. So if you borrow £100, you’ll pay an interest charge of 80 pence per day until you repay the loan.

Representative Example: Borrow £500 for 37 days. Interest rate 292% pa (fixed). One repayment of £648 Representative 1190.7% APR.

If your payment is more than 5 days late you will also have to pay is a £15 late payment fee. You will only be charged this once, and we’ll never add interest to it.

We try to keep your application as straightforward as possible, but we will need to make sure you’re able to repay the loan, so we’ll need to ask you a few things, on top of your basic details.

    • Salary and other income
    • How much you pay in monthly bills and other expenses
      • Mortgage/Rent
      • Utility Bills
      • Transport costs
      • Phone and TV costs
      • Council Tax
      • Food and general shopping
      • Payments on other credit you may have
      • Any other regular expenses

And of course we’ll need your bank details to make the payment (and check your identity) and Debit Card details to set up the repayment.

As long as everything goes smoothly we won’t need to ask you for anything else.

Sometimes we need to check things in a bit more detail and we may need to ask you for other documents, but we’ll let you know if we need those.

Yes we do. We only want to lend you money you can afford to repay, so we will run a credit check which will be recorded on your credit file, even if we turn down your application.

Most loan companies will do this. But you should be aware that having lots of credit checks done can, in some circumstances, actually affect your score. So it’s best to avoid applying to too many different companies at the same time, especially if you’re getting declined frequently.

If you’re being declined for loans and don’t understand why, you should check the information the credit reference agencies hold about you. You can see this information by visiting www.noddle.co.uk.

If you would like more information about the credit reference agencies we work with, please call us on 03300 245000.

You can complete your entire application online. Just click here to get started

In some circumstances we may need to contact you by phone or email once you’ve submitted your application, to check over some details.

If your loan application is approved before 3.00pm Monday to Friday, you’ll receive the money the same day, by 4pm. If your loan is approved after 3.00pm, or at weekends or bank holidays, you’ll get the money by 4pm on the next working day.

A working day is Monday to Friday, excluding bank holidays.

In some cases we may need to contact you for further information in order to complete your loan application. If that’s necessary, we’ll be in touch as soon as possible. Our normal working hours are 9am to 5pm, Monday to Friday.

If you don’t receive your money when you’re expecting it, please call us on 03300 245000.

You can log in to your account at any time, using your email address and the password you set up when you did your application.

This will give you information about your outstanding balance, how to repay your loan early and save money and how to update your personal details.

Once you’ve repaid your first loan, you can also log in to your account to apply for another loan if you’d like.

You have a legal right to withdraw from your loan within 14 days, starting the day after you sign the loan agreement, if you decide that it’s not right for you. You can simply pay the outstanding balance and any interest due, at the contractual rate, applied on a daily basis.

In fact you can settle your account at any time by simply paying us the outstanding balance and any interest due, because we have no early settlement fees and we work out the interest daily.

If you pay back earlier than planned, you’ll pay less because your interest charges will be lower.

If you’d like to cancel your loan or repay early, please call us on 03300 245000.

When your loan is approved, we’ll set up a Continuous Payment Authority (CPA) using your Debit Card. This will allow us to take the full loan repayment on the agreed date without you having to do anything.

Your bank will not make any charges for setting up a CPA, or if there isn’t enough money in your account to make the payment and it’s declined.

You can find out more about CPAs here.

You can also make payments on your loan before the due date, which will save you money. Just call us for further information.

You can cancel your CPA at any time by contacting us or your bank. However, if you cancel your CPA you will need to make alternative arrangements to ensure you can repay your loan.

If your CPA is no longer in place and you need to make a payment, you should also log in to your account to find out what to do, or call us on 03300 245000.

Please quote your Account Number when making any payment.

If you know you’re going to miss your payment date in advance you should contact us to discuss your circumstances.

If you miss your payment we’ll send you a text and email to let you know. If we don’t hear from you, we’ll try taking the payment again 3 days later so if that goes through OK you don’t need to do anything else and you won’t be charged anything extra. However, if the second attempt also fails, and you haven’t spoken to us, you need to call us as soon as you can. If we can talk to you we can help to find a solution that will mean you don’t pay more than you need to. Call us on 03300 245000.

If your payment is received within 5 days of the agreed repayment date, you won’t pay anything extra.

5 days after your planned repayment date, we’ll charge a late payment fee of £15.00 which will be added to your account. We’ll also continue to add interest at the same daily interest rate, applied to your loan amount, until your account is paid in full, or the interest amount is equal to the initial loan amount. At that point we’ll freeze the interest and no further charges will apply.

We won’t ever charge any interest on the late repayment fee.