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We know how exciting it is to book a new holiday, which is why we’ve designed our application process to be quick and easy. If you’re ready to explore your holiday loan options, get covered today through Budget Money! Simply check your eligibility through ARO for a loan up to £50,000, and the lenders will then let you know and, if accepted, once your application is complete the funds will be deposited into your account.
A holiday loan is a type of personal loan specifically designed to help you cover the expenses associated with holiday celebrations, such as gifts, travel, and accommodations. Loan repayments for holiday loans are typically spread over several months, allowing you to manage the cost more effectively.
Holiday loans often come with fixed interest rates and predictable monthly payments, making it easier for you to budget and plan your finances effectively. These loans can be a convenient option for those who need extra funds to make their holiday season special without having to dip into their savings or rely on high-interest credit cards. A holiday loan could help manage holiday expenses by spreading out the costs and offering customisable repayment options.
Travel loans offer a versatile financial solution for various aspects of your journey, catering to the needs of diverse travellers. They can also help manage holiday costs by providing the necessary funds to cover travel expenses, making it easier to budget and finance trips. These loans can be utilised to cover a wide range of expenses, primarily focusing on essential elements such as airfare, accommodations, and comprehensive tour packages.
Whether you’re a young adventurer planning a backpacking trip, a family organising a memorable holiday, a retiree embarking on a long-awaited cruise, or a business professional attending an international conference, borrowing money through travel loans can provide the necessary funds to make your trip a reality.
To qualify for holiday loans, you need to meet specific credit score requirements and undergo an income verification process. These two factors play a crucial role in determining your eligibility for securing a holiday loan in the UK:
Make sure your credit score is in good standing
Be prepared to provide proof of income when applying for a holiday loan
We understand that our customers want more than just great value cover; they also want peace of mind.
Working with our partner Aro, Budget Money gives you access to a trusted panel of UK lenders. Opting for a holiday loan comes with several benefits that can make the holiday planning process smoother and more manageable:
*Unsecured products only
*Unsecured products only
Loan terms from 1-8 years
With easy online comparison available in minutes
Review your loan options in under 3 minutes
Holiday loans, also known as travel loans, typically cover both domestic and international travel expenses. You can use them for holidays within the UK or trips abroad.
Check with your lender for specific terms and conditions regarding the use of funds. A holiday loan could facilitate both domestic and international travel by allowing you to spread the costs and offering flexible repayment options to cover various travel-related expenses.
Yes, you can use a holiday loan for booking accommodation and activities during your holiday. It’s a convenient way to secure your trip expenses and focus on making memories. A holiday loan could help cover the costs of accommodations and activities, allowing you to spread out expenses and customise repayment options.
Yes, there is a maximum loan amount that can be borrowed for a holiday loan in the UK. The maximum loan amount is set at £50,000 and how much you can borrow is based on factors like your credit history and income.
If you repay your holiday loan early, some lenders may charge a fee. Be sure to check your loan agreement for details on any penalties. It’s always wise to understand the terms beforehand.
After applying for a holiday loan in the UK, it typically takes around 1-5 business days to receive funds. The exact timing may vary depending on the lender’s processes and how quickly you provide any required documentation.
Please note that fund disbursement may be delayed during bank holidays, as many businesses may be closed.
Using a personal loan to pay for your trip depends on your individual circumstances.
Create a repayment plan: Outline a schedule for making payments, considering your budget and due dates. This may help you stay organised and ensures timely repayments.
Cut unnecessary expenses: Identify areas where you can reduce spending to allocate more towards the loan. This will then free up funds to put towards paying off your holiday debt.
Consider extra payments: If possible, make additional payments to reduce the principal amount faster as this shortens the repayment period and saves on interest costs.
Whatever the need, we can quickly match you with accurate personal loan options that are tailored to you. Find personal loans up to £50,000 over a minimum of 1 year to a maximum of 8 years, with interest rates ranging from 8.9% APR to 275% APR. Representative example: 39.9% APR Representative based on a loan of £7,500 repayable over 60 months at an interest rate of 39.9% pa (fixed). Monthly repayment of £290.14. Total amount repayable is £17,408.37.
Budget Money is a trading name of BISL Limited. Registered Office: Fusion House, Katharine Way, Bretton, Peterborough, PE3 8BG. Registered in England No. 3231094. We are authorised and regulated by the Financial Conduct Authority. We are an independent intermediary dealing with selected insurers. For mutual security calls are recorded and monitored for training purposes.
We’re currently experiencing a high volume of calls into our contact centre and whilst we are doing our very best to maintain service levels, we ask that you only call our contact centre if absolutely necessary so we can keep our phone lines available for vulnerable customers and those who don’t have access to online services.
If you need to check any details or make a change to your policy, please log in to your Self-Service Centre. It will be much quicker for you to make changes to your policy online at the moment. Once logged in, you can also use our Webchat service which is available Monday- Saturday 8am-6pm and Sunday 10am-4pm to make changes, accept or decline your renewal or if you need to let us know about a claim. To log in, please click here.
We also have some other information that may be useful. Click here to read our FAQ’s, and information on what we are doing to support key workers can be found here.