At Uncle Buck, we appreciate that taking out a loan can be quite a big decision. If you are unable to keep up with repayments, there can be additional costs and fees involved so it is important to know what is involved.

From understanding the initial criteria and the impact to your credit score, we give you a list of things to consider before applying with Uncle Buck.

Is the loan for me?

Our loan products are intended for the individual who is completing the application. We do not accept applications that are made on behalf of another person unless there are health or mitigating circumstances. For any questions relating to this, please contact our support team on 01959 543 400.

During the application form online, we ask you to fill in your details including your name, date of birth, address and bank account information and these will be used to confirm identity and bank ownership.

Do you meet the initial criteria? 

To be eligible for a loan with Uncle Buck, you must meet the initial criteria which includes:

  • 18+
  • UK residence
  • Employed
  • Able to meet the repayments
  • Valid debit card and your salary is paid into your bank account
  • Working email address and mobile phone
  • Not currently in debt management, individual voluntary arrangement or facing bankruptcy
  • Agree to a credit check

By fulfilling this criteria, you will be able to apply for short term finance. Whether you are approved will be subject to further affordability and credit checks that are carried out by our system and underwriting team.

How much should I borrow?

If it is your first loan with Uncle Buck, the maximum amount you can be approved for is £500 but provided that you have repaid this on time and have passed our affordability measures, as a returning customer you may be eligible to apply for up to £1,000.

Whilst you may be inclined to borrow the highest amount possible, you need to think realistically about how much you can afford to repay each instalment without falling into financial difficulty.

This means that you have to take a careful look at your monthly income, savings and expenses to get an idea of how much you can repay on each instalment date.

It is important to think about what you need the loan for such as fixing your car or a broken boiler and therefore borrowing just the amount you need. You should avoid taking out larger sums than necessary because you will be charged interest on the amount you borrow and it will make your loan more expensive than it needs to be.

Can I afford repayments?

We will always carry out checks prior to funding your loan. This includes credit checking and affordability to match the amount you want to borrow with what you can afford to repay. Although we always do our best to verify your income and expenses, we also rely on you to provide accurate information.

We encourage our customers to think about how they are going to repay their loans, whether it is through their work income, an upcoming bonus or savings.

If customers fall behind on their payments, they may be charged additional interest for the days that the loan is in arrears and they may incur a default fee for late repayment. There is also the risk that their credit score will fall if they miss repayments as we report payment information to credit reference agencies and this may affect their ability to borrow affordable credit in the future. 

How will this impact my credit score?

During the application process, we will carry out a credit check on your account using the credit reference agencies that we work with. Part of the credit check means that we will leave a search footprint on your credit file to mark that we have checked your account.

This mark lasts for around 12 months before it disappears and should have no impact on your credit score. However, if you make several payday loan applications in a short space of time, this will be visible to other lenders that check your file.

Having multiple search footprints can make you appear financially disorganised so lenders may view this negatively. Therefore, it is advised to limit the number of applications you make and focus on one lender at a time.

Do I need it?

Since payday loans are considered a high-cost short term form of credit, one should also look at any low-cost alternatives. This includes borrowing money from family and friends; who can always be a reliable source of finance and may not charge you any interest at all.

If you are a member of a credit union, you may be eligible to borrow a similar amount of money at a lower APR of 42.6%. (MoneyAdviceService). Credit unions are non-profit organisations usually set up by a group of members such as a local council or church. If you live in a registered area and meet their criteria, you may be able to receive funds in around 7 days and pay very low interest.

For any further questions about the loans we offer or what you need to consider by applying, feel free to get in touch with our team by email on