Budgeting Loan/Advance - Can I get a Budgeting Loan/Advance?

You can only get a Budgeting Loan if you are claiming one of these benefits on the day that you apply for a Budgeting Loan and on the day that a decision is made about your Budgeting Loan:

• Income Support
• Income-related Employment and Support Allowance
• Income-based Jobseeker’s Allowance
• Pension Credit.

If you live in Northern Ireland you can’t get a Budgeting Loan. You need to apply for a Social Fund Budgeting Loan instead. You can apply for a Social Fund Budgeting Loan online through the NI Direct website.

You can only get a Budgeting Advance if you are claiming Universal Credit on the day that you apply for a Budgeting Advance and on the day that a decision is made about your Budgeting Advance; plus your earnings are below the limit:

• £2,600 total in the previous six months if you are single

• £3,600 total in the previous six months if you are a couple.

Qualifying period

You must have been receiving one of these benefits above, or have been the partner of someone receiving one of these benefits, for at least 26 weeks, or six months.

In the case of Universal Credit, time spent on one of the other benefits mentioned above, immediately before moving to Universal Credit, will count towards the 26 weeks. The 26 week requirement does not apply if the expense for which a Budgeting Advance is required is necessary for getting or keeping employment - though you should ask your work coach about the Flexible Support Fund before getting an advance.

Savings Limit

You cannot get a full Budgeting Loan if you (or your partner) have more than £1,000 in savings. This amount is £2,000 if you (or your partner) are aged 63 or over.

For Budgeting Advances, you cannot get a full advance if you (or your partner) have more than £1,000 savings.

A decision is made on whether you can have a Budgeting Loan/Advance by looking at:

• Your circumstances, and

• Any existing Budgeting Loan/Advance you owe, and

• Your savings, and

• Your ability to pay back the Budgeting Loan/Advance.

You will not be eligible for a Budgeting Advance if you have an earlier Budgeting Loan or Budgeting Advance that has not been fully repaid.