Holiday Loans

Planning your travels can be an incredibly exciting time and getting to visit the country or destination of your dreams can be a wonderful experience. However, the cost of travel is not always affordable and there may be times where you need a little extra assistance to help make your dream a reality. This is why some financial institutions offer holiday loans. While at Fast Loan, our loans are designed solely for use in the event of a financial emergency, there are many lenders who may offer holiday loans for bad credit to suit their customers’ needs.

What Is A Holiday Loan?

Holiday loans are a type of personal finance which you can use to help spread the cost of your holiday payments. This can cover all or a part of your trip depending on your individual requirements. Not all travel companies will offer instalment loans or payment plans for a trip and will require upfront payment. If you’re not able to afford this or need some additional support before your next payday but do not want to miss out on the best deals, then you may turn to the range of holiday loans available across the web.

Holiday loans are generally a type of unsecured loan, meaning you will not be required to have some form of guarantor or collateral. These loan types can range from small loans through to much larger long term loans depending on your requirements and the lender that you choose. It is important to note however that short term lending should only be used as an emergency loan in a financial emergency, and there may be an alternative solution such as borrowing from family and friends.

Why Might I Need A Holiday Loan?

There are many reasons why you may need a holiday loan. You could be facing a travel emergency such as cancelled flights that you need to rebook, and you don’t have the available funds before you go through travel insurance to reclaim. You might want to extend your holiday for longer but might not have the funds to cover it. You may need a last-minute trip to relax and let your hair down after a stressful period. The opportunities are endless when it comes to taking out holiday loans.

Some of the other reasons why you might need a holiday loan include:

• Flight costs
• Accommodation costs 
• Transfer costs 
• Changing flights 
• Extending holiday 
• Holiday upgrades to make your dream getaway a reality 
• Emergency travel 
• Healthcare while abroad 
• Purchasing essentials or gifts while abroad

Can Fast Loan Offer Holiday Loans?

Here at Fast Loan, we are a responsible lender who are authorised and approved by the Financial Conduct Authority. The purpose of our short term loans are to assist those who are facing a financial emergency and are not generally for the purpose of a holiday or other leisure activity. We may be able to help if you require urgent travel as a result of an emergency. Check our eligibility criteria to find out if you’re eligible to apply for a payday loan with Fast Loan today.

Our eligibility requirements are as follows:

• You must be aged 18 years or over 
• You must be a UK resident 
• You must be in full time, part time or self employment 
• You must receive a regular income 
• You must have a valid bank account and debit card

While these eligibility requirements do not guarantee approval, we do help to make our loan offerings as accessible as possible by ensuring that our loan approvals are based on affordability as opposed to credit scores.

How Can I Get Holiday Loans

Whether you’re looking for holiday loans for bad credit, or you’re searching for a small injection of cash to help get you to your dream destination, there are a number of lenders, including mainstream banks, who may be able to help. As holiday loans are a type of personal loan, you may have to undertake a credit check – however that should not stop you from applying. Many lenders look more closely at your affordability than your credit history. Making a decision on where you can source your holiday loans from should come from your own research and loan comparisons online. With plenty of options on the market, you will likely be able to find one that suits your needs.

Holiday Loans FAQs

What Can’t I Use A Holiday Loan For?

The purpose of a holiday loan is to spend on anything you need for your holiday such as accommodation, flights, transfers etc. You should avoid using your holiday loan for purchasing land or property and particularly for business-related activities. Some lenders may have strict requirements on what you can and can’t use the holiday loan for, so be sure to review this as part of your comparison search to make sure your loan meets your needs.

When Can I Pay Back My Holiday Loan?

When and how you pay back your holiday loan will depend on the lender that you have borrowed from. Each holiday loans lender will have specific requirements including minimum and maximum amounts and repayment terms, which are usually made clear to you during the application process. For example, at Fast Loan you can borrow from £50 to £2000 and can repay your loan in 1 payment, in weekly payments or even in monthly payments.

Can I Get A Holiday Loans For Bad Credit?

As with any other type of personal finance, your credit score is likely to be reviewed however this doesn’t mean that you won’t be accepted. Many lenders may offer you a holiday loans for bad credit as their processing criteria may be more focused on affordability than your credit rating.