A Top Up lets customers borrow more money on their current loan. It's for those who have shown they can manage their finances well and keep up with their monthly payments.
A Top Up can be used for things like home improvements or a new purchase. You need to have paid at least one-third of your payments, or the required number of monthly payments (see below), before you can apply.
Like all our loans, extra borrowing depends on meeting our checks for credit and affordability.
You might be able to top up your loan if you owe less than £4,500.
To make sure extra borrowing is right for you, you’ll need to meet the rules below. This will also depend on checks for credit and affordability.
12 month loan - 4 monthly consecutive payments with no late payments
18 month loan - 6 monthly consecutive payments made on time
24 month loan - 8 monthly consecutive payments made on time
30 month loan - 10 monthly consecutive payments made on time
36 month loan - 10 monthly consecutive payments made on time
42 month loan - 10 monthly consecutive payments made on time
48 month loan - 10 monthly consecutive payments made on time
54 month loan - 10 monthly consecutive payments made on time
60 month loan - 10 monthly consecutive payments made on time
If your situation changes during your loan, we have ways to help. We can move your repayment dates, offer you a top up, or arrange early settlements with no hidden fees. If you’re having trouble making payments, please contact us right away. We’ll do our best to help.
If you decide that you’d like to top up your loan, we’ll first generate a settlement figure. This will reduce the remaining balance of your current loan. Your new top up loan will be used to clear the balance of your current loan, and what’s left after that settlement is yours. Most customers continue with the same guarantor but if you need to provide a new one, it's still a simple process.
We're committed to providing you with peace of mind by offering this option, reinforcing that we’re there when you need us. Many customers have already topped up their loans to help manage unexpected expenses.
So, if you need a little extra we’re only a call away. If you wish to top up your current loan or simply discuss your options, just call our team on 0330 1200 313** or email on us info@1plus1loans.co.uk. We’ll be happy to talk you through your options.