Topping up your loan
Topping up your loan is when you want to increase your borrowing, but still have an outstanding balance.
For example, you may have borrowed £500, repaid £300 of that so you have £200 outstanding. Topping up is when you apply to bring your loan back up to £500 (or more).
You can top up a loan **only **after you’ve made **six months payments on your current borrowing. **
_For example, if you pay £50 per month back off a £500 Opportunity loan you must have repaid £300 (£50 x 6 months). _
An application can be submitted up to 20 days before you are due to top up. Any application made before that period will be automatically decline and not considered.
_For example, if you will have made 6 months’ repayments by 20 November, you can apply on 1 November. You cannot apply on 31 October. _
Updated on: 09/11/2021
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