Top up loans are subject to affordability checks and approval. A top up loan replaces your existing loan with a new agreement.
Your current balance is repaid, and you receive any additional funds approved.
1. Check your eligibility
We carry out initial checks to see whether you may be eligible to apply. These checks do not affect your credit score.
2. Apply
If eligible, you can submit an application. We’ll complete a full affordability assessment, which may include a credit reference agency search.
3. We assess affordability
We review your income, expenditure and overall financial situation to decide whether a top up loan is affordable for you.
4. Your existing loan is replaced
If approved, your current loan balance is settled and replaced with a new agreement. Any additional funds approved are then paid to your bank account.
Please note:
Topping up your loan may increase the total amount repayable and could extend the term of your agreement.
If your existing loan has a remaining balance of £1,500 and you are approved to borrow an additional £1,000:
This example is for illustration only. Your rate, repayments and loan term will depend on your individual circumstances and affordability assessment.
To apply for a top up loan, you’ll generally need to:
Meeting these criteria does not guarantee approval. All applications are subject to affordability checks and lending criteria.
To apply for a Munzee loan simply click on ‘Check my eligibility’ where you can check your eligibility and start a new application.
Before applying, consider whether additional borrowing is suitable for your situation and whether you can comfortably afford the repayments.
If you are experiencing financial difficulties, additional borrowing may not be the right option. Free and impartial debt advice is available from organisations such as StepChange, National Debtline and Citizens Advice.