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.
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- not self-employed – 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 three working days later (just after lunchtime).
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:
- Credit rating – your application might have been unsuccessful due to information on your credit file held by credit reference agencies
- 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
- 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:
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.