FAQ’s

Is there an option to have my loan paid into my account the same day it is approved?

For a £7 Faster Payment fee you can receive your loan the same/next working day, subject to the cut off time of 2pm.

How do I apply for a personal loan?

You can apply online by clicking here or by calling us on 0300 111 0556.

You will need to complete an application form that asks questions around your personal details and your income and expenditure.

Once we have received your application, we will assess it and communicate our decision to you via email, telephone or text.

If you are approved in principle, we will email you requesting you to e-sign your loan documents (Fixed Sum Loan Agreement; Adequate Explanation Document and Pre-Contract Credit Information). We may also request that you send us some additional evidence to support your application.

Once you have signed your loan documents and sent us any additional forms of evidence, we will assess your application and offer you a loan. We will email you to inform you when this happens and that the funds are being transferred into your bank account. It usually takes up to three working days for funds to clear, depending on your bank (unless you have requested a faster payment).

What to do if you are struggling to repay your personal loan?

If you are experiencing financial difficulties and are struggling to keep up with the repayments on your personal loan, please contact us as a matter of urgency.

Please call us on 0300 111 0556 or loans@conduit.org.uk

We are a responsible lender that offers assistance and help to people within the community. We provide a friendly and professional service allowing customers the peace of mind to be able to openly speak to us regarding any issues they may be experiencing.

We will always work with you to improve the situation and we can arrange payment holidays or a revised repayment plan based on a new income and expenditure assessment.

However, failure to work with us will result in any outstanding debt being transferred to a Debt Collection Agency or result in court action.

What if I have poor credit history?

During the application you will be asked questions about your previous credit history. It is important you answer these questions openly and honestly as this information will appear on your credit report.

We will use the credit report to see that existing or previous debts have been or are being repaid.

All loans are approved on the basis of a customer’s affordability to repay back the loan, your bank account management and credit history to see how you’ve been managing your finances and any existing debts.

What happens if my personal details change?

Please contact us if you move home, change your bank account or telephone number. You can do this by contacting 0300 111 0556 or loans@conduit.org.uk.

How long do I have to repay my loan back?

We aim to provide our customers with as much flexibility as possible. Our loans are payable from 4 weeks to 52 weeks, depending on your circumstances.

You will be provided with a repayment schedule which clearly details the amount and date of each repayment.

When can I apply for an additional personal loan?

We offer additional loans based on your circumstances at the time of application. Please contact us on 0300 111 0556 or loans@conduit.org.uk to see if you are eligible for an additional loan.

When will I get a decision on my personal loan?

You will normally get a decision on your application within 24-48 hours.

What happens when I apply for a loan?

If you apply over the telephone, one of our team will complete an application form with you; this will include basic questions and your income and expenditure. If you apply online, you will complete the application form.

Your application will then be assessed by a Loans Officer who will decide if a loan is the best option for you. We will also complete a credit check on your loan application.

If your application is successful you will receive a text message and your paperwork will be sent to you in the post. Once we receive the completed paperwork your loan will be in your bank account within 3-5 working days.

You will need to read all of the information before signing the loan contract. If you have any questions please contact 0300 111 0556.

If you apply over the telephone, one of our team will complete an application form with you; this will include basic questions and your income and expenditure. If you apply online, you will complete the application form.

Your application will then be assessed by a Loans Officer who will decide if a loan is the best option for you. We will also complete a credit check on your loan application.

If your application is successful you will receive a text message and your paperwork will be sent to you in the post. Once we receive the completed paperwork your loan will be in your bank account within 3-5 working days.

You will need to read all of the information before signing the loan contract. If you have any questions please contact 0300 111 0556.

Who can apply for a Conduit loan?

You can apply if you cannot access mainstream finance or low cost affordable finance. Representative APR 99.8%

Who are Credit Resource Solutions (CRS)?

Credit Resource Solutions (CRS) are UK Debt Recovery Agency
Five Lamps/Conduit are now working alongside CRS as a part of our debt recovery process, to recoup unpaid monies owed. This can then be put this back into the business, allowing us to fund further affordable lending for our customers.

How do you support customers to ensure they can repay their loan?

We work extensively alongside our customers from application through to credit control to make sure their accounts are up to date, and we have a positive impact on their credit file. We support our customers by providing various repayment options (weekly, monthly etc) and endeavour to keep regular contact to make an arrangement should their circumstances change We give several options for repayment to make life easier for our customers – including a new online payment option, as well as bank transfer, over the telephone with an advisor and of course Direct Debit.

When will a customer be referred to CRS?

Customer details will only be passed to CRS once a thorough process of customer contact has been attempted. Should no contact be made, the customer will be given a definitive timescale to contact us and either make a payment to clear their balance or set an arrangement to pay, before CRS are notified.

Can I apply for another loan if I have previously been referred to CRS?

We understand that circumstances can change and aim to work together with our customers to help them improve their financial position and stay on track. 

Once a loan is fully repaid, our customers will be eligible to apply for further lending from us!