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02920 499 183

Find us on (FAQs) Complaints Policy

What eligibility criteria must I meet to apply?
To apply for a PAYS loan you must meet the following criteria:

  • Personal borrowers
  • Home Owner or Landlords
  • Employed (full or part time/ self-employed) for 3+ months –if unemployed, affordability criteria will apply
  • 18+ years
  • UK Resident with UK bank account

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How long will my application take?
The application process should take no longer than ten minutes. If your loan is accepted, you can e-sign your application form online too, which enables us to get you, your installation much quicker.
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Can I take out a joint loan?
We do not yet offer joint loans.  Generally speaking for joint loans, applicants need to live at the same address.
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I have applied for the loan, when will I receive the money? 
We will not pay you the money directly. PAYS loans are designed for you to pay for the installation of energy efficiency measures such as boilers. We will therefore pay the agreed loan amount to the supplier of your installation.
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I’ve applied already but can I change the amount?
Unfortunately, once you’ve completed the application you cannot change the amount of the loan, you would need to request a cancellation and apply again if you wanted a different amount.
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Will I get the loan rate you’ve advertised?
Not necessarily. The rate that is displayed is a representative rate we offer to the majority of our customers for loans of the detailed value and duration.

We take into account all the information you supplied on your application, the loan amount and the repayment duration along with an up-to-date search of your credit file to determine whether we can accept the application, and also determine what rate we can offer you.
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How do I sign my loan agreement?
You can sign your loan agreement online using our e-signature service ‘Signable’  . This is a fast, secure and simple way of signing your agreement online and enables us to get the process going as quickly as possible. 

Alternatively, if you would prefer to receive the paperwork through the post, please let us know and we will be happy to send your paperwork out by post.

Please note, this does take longer than e-signing your agreement online.
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Can I change the term of my loan to reduce my monthly payments? 
Yes. Once you’ve been accepted, before you sign the Fixed sum loan agreement you can reduce you monthly payments by increasing the term of your loan or reducing the amount you borrow from us.

It is worth keeping in mind that extending the term of the loan will increase the overall amount payable.
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What are the minimum and maximum loan amounts? 
Minimum Loan amount is £100 and maximum loan is 34% of the overall cost of the installation.
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Is there a cooling off period? 
You have the right to withdraw from the agreement, without giving any reason, for a period of 14 days. To do so, please call our Customer Service Team in 02922 331985.

The 14 day period will begin on the day after you sign the agreement. You must then repay in full the amount borrowed within 30 days, and the agreement will be cancelled.

If we haven’t heard from you after the 14 day period we’ll assume you’re happy with everything and you will be bound by the terms of your loan.

Inbound and outbound calls may be recorded for training, monitoring and regulatory purposes.
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What does it mean if my application is referred? 
If your loan is referred it means we need to make some additional checks against your application. We will contact you to let you know if we need any further information and what the outcome of the referral is.
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What can I do if my application is declined? 
If you’ve been declined, you can apply again, however, we would recommend waiting at least 3 months or until your circumstances have changed before you do so. This is because making several applications close together could have a negative effect on your credit score, and could make it harder for you to get accepted in the future.

If your loan has been declined and you’re unhappy with our decision, you can email us at or write to us at:

Pay As You Save
City Energy Network Ltd
Coptic House
4-5 Mount Stuart Square
CF10 5EE

You can also get a copy of your credit report from credit reference agencies such as:

When writing to the Credit Reference Agencies please ensure you enclose a £2 administration fee.
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How do I pay you back? 
We ask that our customers repay us conveniently by Direct Debit. Payment arrangements by Direct Debit are easy to make as all you need is your debit card or bank account details.

You will be giving us a permission to collect the agreed repayments when they are due, so you don’t need to do anything when it comes to your repayment date, the money will be transferred automatically. Also there are no charges if your bank declines payment due to insufficient funds when we try to collect your repayment.

If your bank declines a payment, we will try again five days later. We will only do this once for each failed payment.
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Can I increase my monthly payments to reduce the term of my loan? 
Although you can’t change the amount of your fixed monthly payment, you can make overpayments whenever you want and even settle your loan early with no additional charges, which will reduce the length of your loan term.
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Can I change the date of my payment?
The first payment of all loans is on a set date based on your date of application. Once the first payment has been made, you can call us on 02922 331985 to change the date of the remaining payments. Payments can be taken on the 1st or 15th day of every month. For other ways to get in touch, see the contact us page.
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When will I receive my statement? 
You will receive a statement annually in the post. This statement will show how much you originally borrowed, your current balance, any interest charges and a summary of any payments made to us.  You can also contact us throughout the year to receive additional statements free of charge.
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Can I overpay or settle my loan early and will I be charged for it?
If we receive a payment which is more than your normal monthly payment, we will treat the surplus amount as an overpayment unless you tell us otherwise. Your monthly payments will remain the same but we will reduce your last payment and/or the duration of the agreement by adjusting the number of payments, depending on the amount you repay.

Alternatively you may wish to make a large lump sum payment towards the settlement of your loan.  This is known as a partial early repayment, following which you can choose to either reduce your monthly repayment or the term of the loan.

You may also repay the loan in full at any time before the final payment is due. Details of how to do this are in your agreement. There is no charge if you wish to settle early. Simply contact us to get a settlement figure.
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Can I take a ‘repayment holiday’? 
No, we do not currently offer deferred payment or payment holidays. If you are finding it hard keeping up with repaying your loan and would like to speak to us, please contact us as soon as possible.
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Do you charge any fees? 
We do not charge any arrangement or set up fees when you take a loan with us. You may however incur charges if you fail to make your payments on time. These charges will be clearly set out in the agreement.
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What should I do if I can’t make my payment this month? 
We appreciate circumstances can change which may mean meeting payment obligations could be challenging. If you are struggling to make your payment, please contact us immediately. We have trained advisors who can help you.
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How can I contact you? 
If you need to speak to one of the team, we’re here Monday to Friday 9am to 5.00pm. We are closed weekends and Bank Holidays. Inbound and outbound calls may be recorded for training and monitoring purposes.

To process a personal loan, telephone our Loans Team on 02922 331985.Opening hours for the Loans Team: Mon-Fri: 9am – 5.00pm, excluding Bank Holidays.
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What is involved in a credit search? 
A search on your credit report to assess your credit history. It’s based on your name and address and is provided by Credit Reference Agencies. Our searches will be noted against your name to make other lenders aware we have requested information about you.
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Where can I see the full terms and conditions?
Full terms and conditions are provided with your loan documentation or provided upon request by contacting us to ask for a copy.  
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How do I change my address and personal details?
Please call us on 02922 331985 immediately and we will update your account. For other ways to get in touch see the contact us page.
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Suspicious call / transaction?
Please note that Pay As You Save do not charge customers a setup fee or initial admin fees. We also don’t deal with brokers that charge an initial broker or admin fee to customers.
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How do I make a complaint? 
For full information on how to make a complaint please view our Complaints page here.
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What do I do if I’m experiencing financial difficulties?
If you are experiencing financial difficulties, we would like you to get in touch with us.  Our team are here to help you. 

Please also have a look at our Debt Advice page here for further information. 
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Unsecured and secured loans explained
When you’re comparing loans, there are lots of questions you need to ask yourself. How much you’d like to borrow? What time frame do you want to pay it back over? Can you afford the monthly repayments comfortably? Are there any set up fees?

But one of the most important questions you need to consider is; will you opt for an unsecured or secured loan?

Here we explain the pros and cons of both to help you make the right decision.

Secured Loans are asset backed, meaning you provide some form of security to the lender, normally your home (mortgage or owned outright) and if you fail in your repayments then the lender can potentially sell your home to get their money back. The value of your assets will be considered when deciding how much you can borrow and is likely to effect the interest rate you are given.

In comparison, unsecured loans don’t require you to put up any form of collateral. Instead, lenders use a set of risk-based criteria to assess how likely you are to default on your loan and determine how much you can borrow, at what rate of interest.
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Can I download a copy of these FAQs?
Yes, you can download our FAQs by clicking this link
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Download your PDF copy of our PAYS FAQs for ease of reference.