Affordable credit

We know that your financial wellbeing is important to you. If you need to borrow money but are finding it difficult to get credit from high street banks, then there are other options available to you:


Moneyline offers small, unsecured loans, often lending to people who struggle to borrow from banks, or who pay too much for their money with higher-cost lenders.

Budgeting loans

This can help pay for:

  • furniture or household items, for example, washing machines or other white goods
  • clothes or footwear
  • rent in advance
  • costs linked to moving house
  • maintenance, improvements or security for your home
  • travelling costs within the UK
  • costs linked to getting a new job
  • maternity costs
  • funeral costs
  • repaying hire purchase loans
  • repaying loans taken for the above item

You’re only eligible for a budgeting loan if you’ve been on certain benefits for six months.

Credit unions

Credit unions are an alternative to borrowing from or saving with national banks. They’re owned and controlled by their members and offer a range of services including loans and savings accounts.

Many credit unions are willing to offer loans to members even when they have been turned down by banks.
Find your local credit union by clicking here.

Stay safe from loan sharks

Loan sharks tend to lend money with no paperwork and high interest rates so you can never pay back the money and will always be in their debt. Remember you are not breaking the law by borrowing from loan sharks but they are breaking the law by lending money through this way.

These loans are not enforceable without a court order which is why loan sharks often threaten and use intimidation to get you to pay. If you spot a loan shark or you’ve borrowed money from one you can report them anonymously to the England Illegal Money Lending team:

Telephone: 0300 555 2222 (24-hour service)
Text a report to 07860 022 116

What should you consider when borrowing?

Loans, overdrafts, credit cards, store cards, catalogues and buying items on credit, are all forms of borrowing money and they will cost you different amounts. Before you borrow, it is important that you work out what your personal budget is and how much the loan repayments are each week. This will then help you decide if you can afford the repayments.

For budget and debt advice, click here.