Frequently asked questions

General Your loan application Supporting documents Open banking Managing your loan

We provide loans for different purposes:

  • Debt consolidation
  • Home improvement
  • Car finance
  • Wedding finance
  • Emergency expenditures
  • Special purchase

Our application process is entirely online. You can check your eligibility using the loan calculator on our website. This will not impact your credit score.

 Quick steps:

  • Head over to our homepage and enter the amount you would like to borrow in our loan calculator.
  • Fill in our short online form with your personal details. It is important that you provide up-to-date information as this helps us give you a more personalised quote, best suited to your situation.
  • If you are eligible, you’ll be given a quote detailing the monthly repayments, the total length of the loan, interest payable and the APR (Annual Percentage rate of Interest).
  • If you are happy with the quote you are given, accepting the quote will take you to the final stage of your application. Getting a quote and submitting your application will not affect your credit score.
  • If you are coming from a loan comparison website, you are likely to have received a quote on our partner website.
  • Once you’ve submitted your application, you might be asked to provide us with some documents to support your application. More details on which documents might be required can be found here.

A pre-approved offer means that, based on the information you have provided us, you match our initial eligibility criteria for a loan. This evaluation is based on a soft credit search, giving you more confidence to proceed.

Once the application is submitted, all pre-approved offers are subject to further checks, and as a responsible lender, we may on occasion need to decline a pre-approved offer.

All our loan applications are individually assessed to ensure they meet our lending criteria. However, there are a few prerequisites to be aware of before applying: 

  • You need to be at least 18 years of age.
  • You need to be a UK resident (excluding Isle of Man and Channel Islands)
  • You will need to have a valid UK debit card (This could be a Visa Debit, a Visa Electron, or a Debit MasterCard)
  • You will need to be employed (full-time or part-time) or retired.
  • You need to be able to afford the monthly repayments and be generally in good credit standing.

Plata is a direct lender not a broker. We lend from £2,000 to £20,000 at interest rates matched to your credit profile. Some of our offers are only available on loan comparison websites.

Borrowing directly from a lender means you communicate directly with us, making it easier to ask questions or request any changes. Also, saves you from any potential broker fees. As a direct lender, we do not charge any fees.

You can check which loans you qualify for using the loan calculator on our website with no impact on your credit score.

We do not have any upfront sign-up or origination fees for customers when applying for a loan nor do we deduct any such fees from your loan advance. We do not charge any late payment fees either. You will receive the full amount you applied for and you will never repay more than the total amount repayable shown in the loan agreement.

Before you submit your loan application, you will always be shown the exact interest rate, APR, and how much in total you will have to repay over the life of the loan. This will help you compare our loan with other lenders.

It is also worth noting that Plata only works with credit brokers and intermediaries that do not charge you separately.

Stay alert and avoid scams:

We are aware of scammers attempting to impersonate Plata. Some customers have been approached to pay a loan fee or other upfront fee for their ‘Plata’ loan application and in some cases have been directed to a fake website. We have reported the ones that we know of to the FCA and the National Cyber Security Centre and continue to monitor this closely. If you have been approached by a company asking you for a loan fee or other fee on behalf of Plata, please do let us know by emailing, so we can report it to the necessary authorities.

Under no circumstances will Plata ever ask you for an upfront loan fee. If you have any concerns or suspicions about what you have been asked to do, please call us on 02382544127 and one of our agents will happily check if it is a genuine request from us, or not. Please also refer to our fraud prevention guidance for further information.

Can't find what you are looking for?

If you can't find what you are looking for then head on over to our contact page to see how best to contact us. Our Southampton based staff are available to help answer your questions.