Does it matter how much I choose to pay into Loqbox Save each month?

Erika
Erika
  • Updated

Yes, the amount you choose to contribute each month does make a difference, but what's most crucial is that you select an amount that fits comfortably within your budget.

 

Your chosen monthly payment has an impact on your credit history. Lenders down the road will consider your credit management when assessing your creditworthiness. Demonstrating your ability to handle £20 per month is quite different from showing you can handle £200 per month.

 

Every payment you make contributes positively, regardless of the amount. However, it's vital not to overextend yourself. Missing a payment could have a detrimental effect on your credit history. To ensure a smooth financial journey, opt for a monthly amount that you can manage with ease — even in unforeseen financial situations.

 

Your financial wellbeing is our priority. If you ever have questions or need guidance on the right payment amount for you, don't hesitate to reach out. We're here to help you make choices that align with your financial goals.