Understanding credit
Whether you’ve never borrowed before and want to understand the basics, or you’re an existing borrower looking for information and support, the guides listed below should help.
What do you know about credit?
If you’re planning to borrow money, it’s useful to have a basic understanding of credit, how it works and the different types which may be available to you. The following guide is a good place to start.
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Do you understand the costs?
Lenders usually charge interest as a percentage of anything you borrow. Other fees and charges may also apply.
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Before you borrow
It’s important to consider what you can reasonably afford to repay over time, factoring in any borrowing costs like interest, fees and charges, as well as potential changes in your circumstances.
What do lenders look for?
When you apply, lenders routinely complete credit checks to help them assess the risk of offering credit, and how likely it is to be repaid, based on your financial history and personal circumstances.
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.