A flexible loan allows applicants to borrow anything up to their credit limit, which can be anything between £5,000 and £20,000.

A flexible loan enables customers to pay off credit, store card or other existing loans so they can make the most of the attractive rates.

You may be considering taking out a Flexible Loan for something special - home improvements, an holiday, or you may simply want to reorganise your finances and pay off other debts. In fact, you can use your flexible loan for almost any purpose.

Lenders also offer repayment holidays or payment breaks, allowing you to take a break from your monthly repayments either at the start of the flexible loan (known as 'deferred repayment') or at an agreed point during the term.

Interest will continue to accrue on the outstanding balance and this may result in increased monthly payments so your debt is still repaid over the term agreed at the outset.

Getting accepted for a flexible loan can sometimes prove difficult if you’ve got bad credit, have changed addresses frequently, have no previous credit history or are self-employed.

There are lenders who can help those who need 'bad credit' flexible loans and those who have difficult personal circumstances.

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