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Holiday loans
Jetting off around the world or staying closer to home? Whatever plans you have, a holiday loan could help you have the trip of a lifetime.
There’s a lot to think about when planning a holiday or going travelling. Here are few points to consider…
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If you’d prefer to speak to someone, give us a call or pop into your nearest branch.
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You can apply for a holiday loan if:
- You’re aged 18 or over and live in the UK (excluding the Channel Islands and Isle of Man).
- You’re in paid employment or have regular income.
- You’re not a full time student.
- You haven’t had a request for credit declined in the past month.
- You don’t have a history of bad credit such as bankruptcy or CCJs.
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That depends on a number of factors. What kind of holiday do you want? How much can you afford to pay up front? How much can you afford to pay back in monthly instalments?
A loan can help you to spread the cost of your trip away but you’ll probably pay interest on it. This means it’ll cost you more overall. You have to decide if the cost of the interest is worth the convenience of paying in fixed monthly instalments.
You can use our loan calculator to get an idea of what your monthly repayments may look like.
If you do want to borrow money to help pay for your holiday, there are many options available, such as credit cards and overdrafts. It’s important to choose the one that suits you best. View our borrowing options or learn more about how you can pay for a holiday.
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You can use our holiday loans to pay for just about any aspect of your trip, from the flights to the accomodation and everything in between. However, as our holiday loans are just personal loans, you don't actually have to use it for your holiday if you don't need to. Once you have the money, you can use it for just about anything, but there are some restrictions. We can't give you a loan for:
- Gambling
- Investments, such as stocks, shares and crypto currency
- Business reasons
- Land or property - buying, leasing or paying a deposit
- Timeshares or Holiday Clubs
- Anything illegal
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If you get a personalised quote then we don’t do any credit checks, which means you’re credit score won’t be affected.
However, if you go ahead and apply for a holiday loan, we’ll perform a credit check. This is to help us understand if you’re likely to have any issues paying the loan back.
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Basically, the interest helps to work out the cost of borrowing money. We look at lots of things when working out your interest rate, such as
- Credit history
- Past account history
- How much you want to borrow
- How long you want to repay the loan over
- Other personal details we hold
The interest is added on to your monthly repayments and is fixed for as long as you have the loan.
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When you apply, we’ll tell you how much your monthly repayments will be – this is a fixed amount that won’t change. We’ll start taking the payments by Direct Debit the month after you apply – you can choose a date that suits you and change it if you need to.
If you want to, you can make extra payments with no charge. However, if you pay the loan off early, we may charge you up to 58 days’ interest.
If you miss a payment then we’ll try and take it again within 7 days. If we still can’t take payment then we will charge you £25. You may be charged further if you miss more payments. Full details will be provided when you apply.
Lending and rate are subject to status. Available to UK residents aged 18+.
Loans are provided by Halifax. Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ.