Lifestyle Guides

Personal loan FAQs

Find out everything you need to know about your Admiral personal loan


Whether you're shopping for a loan or have already taken one out, we've answered the most common customer questions around loans. 


Will taking a payment holiday or making a reduced payment impact my credit score?

If you've contacted us and we've agreed to give you a payment holiday or reduced payment, this will not be reported in your credit file. However, we can't confirm if this will impact your overall credit score, and lenders may consider alternative information when assessing future lending decisions in addition to your credit history.

You should not cancel your direct debit without speaking to us first. Cancelling your direct debit and missing a payment will be reported on your credit file.

Are there any cons to taking a payment holiday or agreeing to pay a reduced payment?

If we agree to provide either a payment holiday or reduced payment for a short period, it’s important we advise you of the implications of doing so:

  • Interest will be charged during this period and the length of your agreement will be extended in line with the number of deferred payments or reduced payments
  • Your balance will be reducing at a slower rate, and you will pay more overall
  • Although we will not report this to credit reference agencies, lenders may consider other information, in addition to your credit history, therefore this could impact future lending decisions.

What help am I entitled to?

  1. Universal Credit - Universal Credit is a payment to help with your living costs. It’s paid monthly (or twice a month for some people in Scotland). You may be able to get it if you’re on a low income or out of work
  2. Furlough - Your employer might be able to keep you on the payroll if they’re unable to operate or have no work for you because of Coronavirus (COVID-19). Your employer could pay 80% of your wages through the Coronavirus Job Retention Scheme, up to a monthly cap of £2,500
  3. Self-employment support scheme - This scheme could allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering three months, up to a maximum of £7,500.
  4. Avoid Coronavirus scams - Unfortunately, there have been reports of people trying to take advantage of the crisis and, as a result, various scams have been reported. To protect your finances it's important to remain vigilant
  5. Statutory Sick Pay (SSP) - You could get £95.85 per week SSP if you’re too ill to work. It’s paid by your employer for up to 28 weeks.

Information correct as of 7 May 2020.

What should I do if I want to make a payment?

We'll take your monthly Direct Debit payment as normal but if you'd like to make an additional payment then please use the details below:

Admiral Financial Services Use your Agreement Number as your reference Account number: 10530557 Sort code: 20-18-23

I’m struggling to keep up with my repayments, what should I do?

We understand that our customers' circumstances may change, and we want to do the best we can to support you. If you're unable to make your usual monthly payments, there's a few ways we can help.

Firstly, we'd want to understand your current circumstances and what you're able to afford. Our phone lines are currently closed, however please complete our contact form to explain your circumstances.

Am I eligible for a payment holiday?

If you've been financially affected by COVID-19 and you wish to enquire about a payment holiday, please complete our contact form and we’ll aim to respond within 3-4 working days.

These requests will be reviewed and discussed on an individual basis, and evidence may be requested to ensure that we’re providing you with the best level of support.

Before applying for a loan

Will I be accepted for an Admiral loan?

Every loan is assessed on an individual basis, taking into account the amount you want to borrow, your personal and financial circumstances, and credit history. Until you've applied for a loan, we can't confirm if you'll be eligible for a loan with Admiral.

Who can apply for an Admiral personal loan?

To be eligible for a loan you must:

  • Be a permanent resident of England, Wales or Scotland
  • Have lived in the UK for at least three years
  • Be aged between 18 and 74 and won't be 75 or over at the end of the loan term
  • Be in employment or retired and have a minimum annual income of £10,000
  • Not have had any County Court Judgements (CCJs) in the last three years
  • Not have been made bankrupt, had any Debt Relief Orders or gone through Individual Voluntary Arrangements in the last six years
  • Own a UK bank account

Can I apply for a joint loan?

We don't currently offer joint loans. However, there are other lenders in the market who may be able to offer a joint loan.

What is APR?

APR stands for Annual Percentage Rate. This is the total charge for the loan including fees and interest expressed as a percentage. The APR you're offered may differ from the representative example displayed. This is because each loan application is assessed on an individual basis and on a number of factors, including the information you've provided in your application and data obtained from credit reference agencies. Read our guide for more about what is APR.

What can I take out a loan for?

You could use a loan to:

  • Make a big purchase, like a new car
  • Make improvements to your home
  • Pay for further education
  • Consolidate your existing debts into one loan

We don't offer loans to cover daily living expenses such as bills and food. If you're struggling, consider contacting Citizen's Advice or the Money Advice Service.

How long does an Admiral Loan take to come through?

Once you've been approved and signed the agreement, the money will go into your bank account between 12:00 and 17:00 on the third working day.

During your loan application

What 'personal circumstances' affect the loan rate I'm offered?

The APR and interest rate we offer are determined by the personal and financial details you give, along with an independent verification of your credit and repayment history, using information held by credit reference agencies such as Experian, Call credit and Equifax.

Why has my APR rate changed?

We expect at least 51% of people who enter into a loan agreement with us will be given the advertised representative APR. The actual APR offered depends on the amount you want to borrow along with your personal circumstances, financial circumstances and credit history. Your personalised rate could be higher than the advertised representative APR depending on your individual circumstances (both current and in the past) and Admiral's lending and commercial criteria.

Why have I been declined a loan?

All applications are assessed using your personal details and information provided by a Credit Reference Agency. Unfortunately, not every application will meet our business criteria. Below are a few potential reasons we may be unable to offer you car finance:

  1. Credit rating – your application might have been unsuccessful due to information on your credit file held by credit reference agencies
  2. Affordability – as a responsible lender, we need to make sure if we're lending money, customers can afford to pay it back; so maybe you haven't met our affordability rules
  3. Business rules – loan companies use rules known as 'underwriting criteria' based on risk and business strategy to help decide whether to offer a loan; so, you may not have met our underwriting criteria at this time

If you'd like to know what information is held by the credit reference agencies you can contact them directly:


TransUnion International UK Limited

Existing loan customers 

I've got an Admiral loan – can I top it up with a top-up loan?

Sorry, we don't offer top-up loans at the moment.

I've already got an Admiral loan, can I take out another Admiral loan?

You could apply for another Admiral loan, as long as you've had your original Admiral loan for more than six months and have a good history of repayment. Until you apply, we can't confirm whether you will be approved for another Admiral loan.

Can I log into my account online?

We're planning to launch an online portal soon. Watch this space...

I've got an Admiral loan – how can I change my payment date?

Sorry but you can't change the payment date within your first month. After the first month, you can change it by phoning our customer services team on 0333 234 6007.

I've got an Admiral loan – how can I increase or decrease the amount I pay every month?

Give us a call on 0333 234 6007 to discuss changing your payment amounts.

I'm struggling to pay my Admiral loan - what shall I do?

Give us a call as soon as you can on 0333 234 6009.

Can I pay off my loan early?

You can repay the loan in full - or part - at any stage of the lifetime of the loan. When you settle your loan in full, we charge an additional amount equivalent to up to 58 days of interest at the rate of interest specified on your loan contract.

Can I take a payment holiday?

Sorry, we don't offer this service at the moment but it's something we're looking into.