Personal joint loans

Who is eligibility for joint accounts in the UK?

In the UK, joint bank accounts are available to individuals who meet specific eligibility criteria. Generally, all account holders must be at least 16 years old. Some banks may require account holders to be 18 or older.

Typically, all account holders must be residents of the UK. Some banks may accept non-UK residents, but this is less common. All account holders will need to provide valid identification, such as a passport, driving license, or national ID card.

Documentation such as utility bills, bank statements, or tenancy agreements is required to prove your address. Banks may perform credit checks on all applicants. Individuals with poor credit histories may face restrictions or conditions.

Some banks may assess your income and employment status as part of the application process, though this is less common for joint accounts than for other types of credit.

Joint accounts are not restricted to family members. They can be opened by friends, partners, or anyone who wants to manage finances together.

As an alternative, you can also take out a personal loan. Your possible expenses:

Personal loan calculations for 1 year (example)

Can I get a secured joint loan with bad credit?

Yes, it is possible to get a secured joint loan with bad credit in the UK.

A secured loan requires collateral (such as a property or car) that the lender can claim if you default on the loan. This reduces the lender’s risk compared to unsecured loans.

A joint loan is taken out by two or more people who share responsibility for the repayment. The creditworthiness of all applicants is considered, and the loan is often secured against one or more of the applicants’ assets.

Bad credit can make it more challenging to secure a loan, but having a secured loan can mitigate some of these risks for lenders because they have collateral to back up the loan.

If you apply for a joint secured loan, the creditworthiness of all applicants will be assessed. A higher credit score from one applicant can potentially offset a lower score from another, improving the chances of approval.

Some lenders specialize in offering loans to individuals with bad credit, especially when the loan is secured. It’s worth researching lenders who have experience in this area.

Major banks may also offer secured joint loans, but they might have stricter credit requirements.

Can I get a joint loan online in the UK?

Yes, you can apply for a joint loan online in the UK. Many lenders offer online applications for joint loans, allowing you to apply with one or more co-borrowers from the comfort of your home.

Fill out the joint loan application form on the lender’s website. You’ll need to provide details for all borrowers, including personal information, financial details, and the purpose of the loan.

Many lenders allow you to upload documents directly through their online portal. Ensure all documents such as identification, proof of income, details of existing debts, and any other financial information. Each lender will specify what’s required. are clear and accurate to avoid delays.

See the similar FAQ about UK banks: 

• Bank of Ireland lending criteria
• HSBC bank transfer time within the UK
• HSBC graduate loans
• HSBC in America
• HSBC loan early repayment: how to manage

Details of companies offering the financial services:

ABC Finance Limited

Head office’s address: Point North Park Plaza, Cannock WS12 2DF

Contact center: +44 1922-620-008

Web-site: https://abcfinance.co.uk/

Everyday loans

Head office’s address: 1st Floor North, 2 Dukes Meadow, Bourne End, Buckinghamshire, SL8 5XF

Web-site: https://www.everyday-loans.co.uk/

Evolution Money

Head office’s address: 9 Portland Street, Manchester

Contact center: 0161-814-9158

Web-site: https://enquiry.clarity-uk.com/

First Choice Finance

Head office’s address: 103 Buxton Rd, High Lane, Stockport SK6 8DX

Contact center: 0800-298-3000

Web-site: https://www.firstchoicefinance.co.uk/

Halifax

Head office’s address: The Mound, Edinburgh EH1 1YZ

Contact center: 0345-720-3040

Phone: +44 (011) 3242 19 84

Web-site: http://www.halifax.co.uk/

Stock code: HALP

HSBC Bank

Head office’s address: Unit 8, Canada Square, Retail, London E14 5AH

Phone: +44 345 740 4404

Web-site: https://www.hsbc.co.uk/

Swift code: HBUKGB4B

Reference number: 114216

Stock code: HSBA

ABN: 00014259

BSB: HBUK

Lloyds Bank

Head office’s address: 25 Gresham Street, London EC2V 7HN

Contact center: 0345-300-0000

Web-site: https://www.lloydsbank.com/

Swift code: LBGTGB22

Reference number: 119278

Stock code: LLOY

ABN: 00002065

BSB: LBGT

NatWest Bank

Head office’s address: 250 Bishopsgate, London, EC2M 4AA

Contact center: 0800-88-11-77

Phone: +44 345 788 8444

Web-site: https://www.natwest.com/

Swift code: NWBKGB2

Reference number: 121878

Stock code: GBP1

ABN: 00929027

BSB: NWBK

Norton Finance

Head office’s address: Norton House, Mansfield Rd, Rotherham S60 2DR

Contact center: +44 800-694-5566

Web-site: https://www.nortonfinance.co.uk/

Santander

Head office’s address: 2 Triton Square, Regent's Place, London, NW1 3AN

Contact center: 0800-389-7000

Web-site: http://www.santander.co.uk/

Swift code: ABBYGB3E

Reference number: 106054

ABN: 02294747

BSB: ABBY

Tesco Bank

Head office’s address: 2 S Gyle Cres, Edinburgh EH12 9FQ

Contact center: 0800-591-688

Phone: +44 131 203 5000

Web-site: http://www.tescobank.com

Swift code: TPFGGB2L

Reference number: 186022

Stock code: TSCO

ABN: SC173199

BSB: TPFG