Christmas Loans 2024

Tuesday 28th May, 2024

Unify's rules for Christmas Loans in 2024. Your key cut off dates and policy explainer

We know it’s early and you probably aren’t thinking about Christmas just yet, but it might help with your financial planning. 

Lots of our members depend on getting a loan at Christmas to help with the extra costs, and if you’re thinking about taking out a loan this summer or autumn it’s important to know how that might impact you later in the year.

These are the two big cut off dates you need to know:

New & non-members: Cut-off date is 15th November

Top up loans: Cut-off date is 1st December

Anyone who applies on or before these dates is guaranteed a decision on their application before Christmas Day.

Anyone who applies after these dates will not get a decision before Christmas and may not get a decision until the New Year depending on demand.

 

What to expect if you get a loan before Christmas:

When you take out a loan with Unify, depending on the type of loan and the decisions of our loans team you will either have three months, four months, or six months before you can apply for a top-up loan. It's important to know how your eligibility date lines up with the 1st December cut-off for top-up loans.

Anyone who receives a loan in September 24, October 24 or November 24 will not be considered for a further loan before Christmas.

If you take a loan in the summer but this takes you past the cut off dates, we might be able to make an exception to help you apply for Christmas.

 

If your eligibility date is four months after your previous loan and falls in December, we’ll allow you to apply early for Christmas but only for up to the amount repaid since your last loan (no loan below £150 will be considered.)

If your eligibility date is six months after your previous loan and falls in December, we’ll allow you to apply up to one month early without penalty. If you wish to apply more than one month early, you can only apply for up to the amount repaid since your last loan (no loan below £150 will be considered.)

Nobody is permitted to make additional repayments to bring forward their loan eligibility.

 

If you're not sure how your next loan will effect your eligibility for Christmas, please ask when you apply and our team will be happy to advise you. Or you can contact us any time if you need some clarity.

 

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