Frequently asked questions

Got a question? Hopefully we can help you with the most common answers below.
If not, just give us a call on 0208 080 6450 and we'd be happy to help.

Before you apply
Who are Likely Loans?
Likely Loans, owned by Oakbrook Finance, provides unsecured personal loans developed for people who may be experiencing difficulty in obtaining credit.
Who are Oakbrook Finance?
Established in 2011, Oakbrook Finance is the parent company for Likely Loans. Oakbrook Finance is authorised and regulated by the Financial Conduct Authority.
How much can I borrow?
Our unsecured loans range from £500 – £5000. Depending on the amount borrowed, our loans are available over 12, 18, 24, 36, 48 or 60 months.
Will applying affect my credit file?
Using our website you are able to check if you are eligible for a Likely Loan, and this will not be visible to other lenders on your credit file. Once you submit your application and we make a final decision this will be visible on your credit file.
I have a poor credit rating – can I apply?
Yes – we will consider your application as long as you have some UK credit history and haven’t been made bankrupt in the last 12 months. Before applying for a loan please consider carefully your personal circumstances. Ensure you are clear on the repayment terms and you're confident you can repay the loan.
Do I need to be a homeowner to apply for a Likely Loan?
No – as long as you are a UK resident it doesn’t matter if you are a homeowner or a tenant.
Do you charge an arrangement fee?
No, we do not charge arrangement fees.
Applying for a Likely Loan
How do I apply for a Likely Loan?
You can check your eligibility and apply for a Likely Loan online using our simple application form. In most cases you will receive an instant decision.
What information do I need to apply for a loan?
In most cases you will simply need to fill in your personal details as required in the application form. In some instances we may need you to provide supporting documentation, for example, a copy of your driving licence. If we need you to provide this we will ask you. The process to supply this is quick and simple and you will be able to upload it online as part of the application process.
Can I apply again at a later date if my loan application is not successful?
Yes, if your circumstances have changed and you would like to apply again for a Likely Loan there are no restrictions on you doing this.
Are my details secure?
In your browser address bar, you'll see a padlock and the letters 'https'. This means that whatever you enter on the Likely Loans website is sent to us using secure encrypted methods. Once we have received your details, you can rest assured that we follow the very latest in secure data handling practices, and we work hard to make sure that your details are safe at all times. We will also never share your details with third parties without your consent. Additional information about how we use and store your data can be found in our Privacy Policy.
Why am I being asked to log into my bank account?
To determine the suitability and affordability of the loan you are applying for with us we will, if applicable, request access to your bank transaction history. The process is optional but may enable us to process your application more quickly. With your permission, our trusted partner will connect to your bank account safely and securely to provide us with details of your transactions and income. This is separate from credit reference checks and will not impact your credit file.
Why have I been asked to prove my income?
We need to ensure that the loan you are applying for is affordable. Normally we can do this without asking you for any more information, but occasionally we must ask you to prove your income. You can do this by allowing us to connect to the bank account into which your income is deposited or by uploading relevant documents (e.g. a payslip or benefits letter).
Why have I been asked to submit additional documentation as part of my application?
During your application we may ask you to supply additional documents such as your driving licence. Additional documents are required where we need to verify your identification, current address or income. The documents are easy to upload within the application process.
I can’t upload my documents
If you are having any problems uploading your additional documents then please call us on 0208 080 6450 and a member of our customer service team will be happy to help.
Will I get the representative APR?
This is a personal quotation, based on your personal situation and is dependent on many factors such as your credit history, credit rating and financial status. As such the APR you are offered may be different to the displayed representative APR.
What happens after I have submitted my application?
You will receive an email within 24 hours to confirm the status of your application. All applications go through an overnight check but we aim to send your money within one working day of your application being approved.
What documentation will I receive?
All successful applicants will be emailed a full set of documents which include your loan terms and conditions and information on your Direct Debit and repayment dates. We recommend that you read through these and keep them safe for future reference.
When do I get my money?
Once your application is approved, subject to overnight checks, your money is normally paid into your bank account the next working day.
Managing your Likely Loan
How do I make my repayments?
Repayments are usually made monthly by Direct Debit from your nominated bank account. We will automatically set up a Direct Debit for you as part of the application process, details of this and your repayment dates are contained within the Welcome Pack that you will receive from us.
To find out more about alternative payment methods, look at our Ways to Pay.
What other ways can I make my repayments?
Call our automated payments line 24 hours a day free on 0800 3585 945.
Login to your Likely Loans account at to make a payment online.
By bank transfer: sort code 20-00-00, account number 63138305. Please make sure you include your Likely loan account number which you can find on your welcome pack.
To find out more about alternative payment methods, look at our Ways to Pay.
Can I change my Direct Debit date?
Yes, you can change this in your online account.
Can I pay my loan off early?
Yes, you can repay your loan in part or full at any time. We do not charge an early repayment fee but will apply interest as permitted under The Consumer Credit (Early Settlement) Regulations 2004.
What happens if I miss a payment?
If your circumstances change and you find you are struggling to make your repayments you should contact us as soon as possible on 0208 080 6450. To find out more about the options you have available to you go see the Money worries section of our website.
Will I be charged additional interest if I miss a payment?
Late payments may result in additional interest being applied to the overdue amount at the interest rate specified in your agreement from when the payment was due until the payment is received in full. If you are concerned about your financial circumstances independent help is available at
I have lost my Loan Agreement, can I get a copy?
If you have lost or misplaced your Loan agreement you can request a copy by writing to us or get in touch using our contact us page.
Can I manage my account online?
Yes you will automatically receive an email on how to set up your account.
How can I view my loan balance?
You can view your loan balance in your online account.
What if I want to make an additional payment or partial settlement?
Any extra payments you make will be applied as an overpayment against your account. Overpayments don’t benefit from any interest rebates (a credit of interest) and they won’t reduce your monthly contractual payments. However, they can be used as advance payment towards your future contractual monthly payments.

If you'd like to make an additional payment in order to save on interest and reduce your monthly contractual payments (a partial settlement) then please contact us so that we can set this up for you.
Additional borrowing from Likely Loans
Can I apply for another Likely Loan when I have paid my loan off?
Yes, you can apply the very next day once you’ve paid off your loan.
Can I increase my existing loan?
We perform regular reviews of our customers' loan accounts and will email you to let you know if you're eligible for additional borrowing. Managing your account well, by making at least the last six payments on time will increase your chances of becoming eligible. Please note that we can only inform you of additional borrowing offers if you have given us consent to send you marketing offers. To review your marketing consent preferences and check whether you are eligible for additional borrowing please log into your online account here. If you don’t already have an online account you can register here.
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Online account

Do you have a loan with us that started after 27th January 2016? You can now set up an online servicing account to manage your loan online.

  • Check if you're eligible for additional borrowing.
  • View your loan balance.
  • See a loan overview and account summary.
  • Change your payment date.
  • View the contact details we hold for you.
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Do you have money worries?

We know that circumstances can change, leaving people to struggle financially. It's better to take action, rather than ignore it and there are ways we can help.

Here you will find some useful information on what to do if you are worried.

I have money worries

Ready for a Likely Loan?

Our application form is quick and easy to complete.