Borrowing Affordability Checklist
A structured checklist to run through before applying for any loan — to make sure you have considered the risks.
For: Anyone about to apply for a loan who wants to stress-test the decision.
- This is a decision support tool, not financial advice
- Cannot predict whether a lender will approve your application
- Does not assess your credit file or calculate your actual affordability for a specific lender
- If the checklist reveals concerns, speak to a free money adviser before applying.
When to use it
Use this checklist before applying for a loan, credit card, overdraft or any other form of borrowing. It is a structured way to pause and check whether the decision feels right across the most important dimensions.
What it cannot tell you
This checklist cannot make the decision for you and does not assess your eligibility for a specific product. It is a thinking tool, not financial advice.
A lender’s affordability assessment will use your credit file, income, and other information you cannot fully control. This checklist covers your own thinking, not the lender’s.
If you have concerns
If the checklist raises doubts — for example, if repayments would leave very little room for emergencies — it may be worth speaking to a free money adviser or debt charity before applying.
- MoneyHelper · 0800 011 3797
- StepChange · 0800 138 1111
- National Debtline · 0808 808 4000