Let Us Help Answer All Of Your Questions
What Is A Pay Monthly Holiday?
A pay monthly holiday is a financing option offered to individuals who are seeking a more convenient and easy way to help pay for expenses related to travel and holidays.
Is It Unsecured?
Yes. It is an unsecured loan that you receive from a lending company, that you are able to then repay in instalments. It is much the same as holiday loans.
The name derives from the service itself and the convenience it offers. It enables borrowers to book a holiday now and pay for it later, conveniently and affordably.
How Does A Pay Monthly Holiday Work? Getting Started
Looking to book a pay monthly holiday but worried that the process might be long and confusing?
Dont worry! It's super easy and quick to select and book a pay monthly holiday - all you have to do is follow the step by step instructions below:
1. Apply Online
This is the quickest and easiest way to apply. Check the company website and see the pay holidays monthly deals and packages they've got available.
2. Fill Out All Of The Required Information
This will include: number of passengers, destination, ages, travel dates, etc.
After you have completed and submitted this information, a search will launch, which should then give you the most relevant results.
3. Choose And Book Your Ideal Holiday Package
Once you've chosen your ideal pay monthly holidays package, you can move on to booking.
You will then be asked to pay a low deposit fee, which is charged per person. The actual deposit amount will depend upon the company you are matched with.
4. Repay The Loan In Instalments
Once you have paid your deposit, you can pay the rest in flexible and affordable instalments. Repayment periods span 3 – 12 months, depending on when you're leaving for your holiday. Read More »
You enjoy flexibility in repayment, as you are free to pay the whole amount in one go, or spread the cost over several months, hence the name of the financing option - pay monthly holidays.« Show Less
Caution: Make sure you check that the lender you are thinking of using is reputable before you apply. You can check this by visiting the FCA's (Financial Conduct Authority) website here and searching their register for your preferred lender to see if they are authorised.
See How Quick And Easy It Is Watch Our Video
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What Can You Use Pay Monthly Holidays For? How To Make The Most Out Of A Pay Monthly Holiday
Financing a holiday can be stressful right?
From transportation to accomodation and insurance, you have to prepare ahead of time and organise each step of the way.
So stay one step ahead and make sure you get the most out of your pay holidays monthly option.
Since airlines also offer holiday payment plans such as pay monthly holidays, you can choose to limit yourself just to flights! So are you ready to actually enjoy your journey to your holiday destination for a change? Ditch that less-than-ideal, low-cost holiday option and treat yourself to a slice of luxury and leg-room, that you can pay for at your own convenience.
Ever just wanted to check yourself into the swankiest hotel in town and receive the royal treatment? Well now you can spring for the nicer hotel and pay for it affordably.
Nobody wants to board an unreliable, crowded, and uncomfortable bus or coach after a long flight. Instead, wouldn’t you much rather hire a private car that waits for you outside your airport, takes care of your bags, and then drives you comfortably to your destination?
Unfortunately, illness, accidents, and other unforeseen circumstances do not stop just because you are on holiday. You have to be prepared for the worst to happen, and that’s not even a luxury; it’s a necessity.
Does it really matter? Read More »
According to ABI, getting ill or otherwise having an accident abroad when you’re uninsured can attract costs that can take up to 25 years to cover. Therefore, getting travel insurance gives you the luxury of resting peacefully, knowing that you’ve got everything covered. This way, you don’t have to risk racking up a truly impressive medical bill in a private hospital abroad.« Show Less
Top Tip: There are also other holiday extra's and add-ons that you may choose to include, such as attraction tickets, airport parking, flight upgrades, and other small luxuries that can make your pay monthly holiday more enjoyable and smooth.
Pay Monthly Holidays - Pros And Cons Benefits And Drawbacks
Been thinking about opting for pay monthly holidays but still not convinced that it's worth it?
Well, keep on reading to find out the pros and cons of pay holidays monthly and make a decision on whether it’s the right holiday payment plan for you.
What Are The Benefits Of A Pay Monthly Holiday?
You Can Book Your Holiday Instantly - Buy Now, Pay Later
Holidays are expensive and very few are in the privileged position of being able to afford to pay in full for a holiday and book it straight away. However, because pay monthly holidays do not require that you pay the whole sum upfront, you are free to book your holiday as early or as late as you like.
Now you can find a holiday you like, get an instant online loan decision, and book it on the spot without worrying about going into your overdraft. It really is that easy!
You Can Repay The Amount Back In Instalments
Repaying a loan back in full can be daunting, which is why a pay monthly holiday seems like an easier and less intimidating option. The amount does not have to be paid in full, as you would have to do with other loans, for example. Alternatively, you pay a deposit upfront, and then the rest in instalments, up to two weeks before your holiday.
Why Choose Us: We specialise in finding exclusive, quick, online holiday loans for UK residents. Our aim is to find you the best loan at the lowest rate and we don't charge any fees.
You May Be Able To Set Your Own Instalments
Indeed, it is true that you may be able to set your own instalments, depending on the company. This means that no matter how expensive your holiday is, it becomes much more affordable to repay. Depending on your budget and preferences, you can stretch out the repayments to a shorter or longer time. Read More »
For example, if your income is not consistent, you may find that you have trouble repaying the same amount every month. However, pay monthly holiday options could potentially allow for you to set your own repayment amounts each month, as long as you repay the full sum by the deadline. This, of course, is dependant on the lender and should be discussed beforehand. Think about it... If you don’t have a lot of cash now but have more coming next month, then you may be able to pay £50 now and £200 next month!« Show Less
You Enjoy A Lot Of Flexibility
Another advantageous aspect of a pay monthly holiday is the flexibility that they offer.
You don’t have to stick to any pre-approved package; instead, you can pick and choose, depending on what exactly it is you are looking for!
What does this mean for you? Read More »
Well airlines also offer pay monthly schemes, so if you’re only interested in flights, for example, you can easily go on the agency website and book your ticket with no hassle. You only book and pay for as much as you need. Fly now, pay later!« Show Less
There Are No Interest Options Available
A lot of other holiday payment plans involve paying a pretty high interest rate, especially if you’ve got bad credit. However, you can get a pay monthly holiday with zero interest, depending on the package you choose and the company you go through. This way you are only paying as much as you’re getting and not a penny more!
It Is Accessible To Individuals With Bad credit
A poor credit rating can follow you everywhere, and it can limit your options when it comes to financing, or even stop you from borrowing money altogether.
But as it turns out… Read More »
A bad credit rating doesn’t have to be an issue! There are pay monthly holidays options that you can opt for, even with bad credit. This means that anyone can benefit from this kind of scheme without having to worry about being rejected or limited by their poor financial history.« Show Less
Offers A Chance To A Luxury Experience
Everyone deserves to have a little luxury in their lives from time to time, and what better time to splurge and indulge, than on holiday? Read More »
There are tons of experiences waiting to happen that you never thought you’d be able to afford, but now, you’ve finally got that chance! Whether it’s flying in first class and enjoying a glass of champagne, spending the night in a 5-star hotel, or being driven around town by your own hired car with a driver, there is so much for you to discover!« Show Less
What Are The Drawbacks Of Pay Monthly Holidays?
You Are Required To Pay A Deposit For Most Options
Unlike other alternatives, in order to get a pay holidays monthly option, you need to pay a deposit. The amount differs depending on the agency, and they can range from £50 to £100 per person. The amount is also dependant on the holiday package, and how early the holiday is booked.
You Have To Repay The Entire Amount Before You Go On Holiday
While other financing options allow you to pay for a longer period of time, this scheme requires you to pay off the entire amount before you leave. Read More »
You pay your deposit and then you can either pay the remainder in one go or pay it off in instalments that can be fixed or not, depending on your payment plan and affordability. Some companies will request payment as early as 12 weeks before the start of your holiday, while others will allow you to pay off the amount up until 2 weeks before you leave.« Show Less
Expert Advice: Whilst checking the cost of repayments, you should also consider any additional fees or charges that accompany the loan. By doing this, you won’t encounter any unexpected costs later on down the line.
All in all, it is clear that pay holidays monthly options has all sorts of benefits for a wide range of people and needs. So, if you're looking to book your next holiday, and the advantages outweigh the disadvantages, then go ahead and choose pay monthly holidays now!
Why Choose Us: Our online applications are safe and secure. Here at Holiday Loan, we use 256 bit encryption so you’re your details remain 100% confidential and we’ll never pass on your details to third parties without your consent.
Is A Pay Monthly Holiday For You? Making An Decision
I am sure that you will agree that we all deserve the chance to splash out on the holiday of our dreams at least once in our lives, right?
And the good news is that luxury is no longer reserved for the 1%. Anyone can enjoy a luxurious lifestyle with pay monthly holidays, even for those on the tightest of budgets!
And guess what…
You can even get a pay monthly holiday with bad credit, so why not give it a try?
What Is Bad Credit?
By definition, your credit score is a number on a scale reflecting how much of a financial risk you are. You can find out your credit score in places like Equifax, or Experian. Each website will have a different kind of scale, so your score will also be different, but around the same end of the spectrum. Read More »
Your credit score is determined by your financial habits, and every decision you make will affect this score positively or negatively. Debt, and failure to pay bills on time will count negatively against your score, while keeping a good financial track record will count positively. We can't say for sure what is good or bad credit, but with Equifax, for example, "bad credit" is under 559, while Experian situates it at around 720 and lower.« Show Less
Can I Go On Holiday With Bad Credit?
The good news is that while bad credit will certainly get in the way of scoring the best deals on the market, it will not necessarily stop you from getting loans or enjoying financing schemes. In fact, there are plenty of options for individuals with bad credit, including pay holidays monthly!
Why Is A Pay Monthly Holiday A Good Option For Bad Credit?
If you're looking to go on holiday and your financial history isn't great, pay holidays monthly might be exactly what you are looking for. There are numerous reasons why they're great:
- You can repay in affordable instalments
- You may be able to set your own instalments
- You don't have to pay interest
Expert Advice: Keep in mind that bad credit options come out more expensive. So you would still benefit from taking steps towards becoming more financially responsible and improving your credit score. These include: paying your bills on time, reducing credit cards, and paying off outstanding debt. If you would like to find out your credit score, click here.
What Are The Alternatives To A Pay Monthly Holiday? Choosing The Best Option For You
So let’s just say that you don’t really fancy trying this financing scheme, and now you are wondering what the alternatives are to pay monthly holidays?
Well wonder no more...
There are various other options that may be more suited for you!
A holiday loan is a very popular choice, because, as the name suggests, it is meant to cover holidays. You can choose to spend it on whatever you want, as the lender does not dictate what you need to book or with whom. Read More »
In addition, this type of financing also enables you to borrow a higher amount of money. Loans start from £1,000 to £10,000, with a possible repayment term of 3 – 12 months. So, if you want to make an event out of your holiday, or simply take a luxury one, a holiday loan is probably your best bet.« Show Less
Why Choose Us: We are a broker, not a lender. In simpler terms, this means that we can search up to 80 different lenders to find you the best deal for your holiday loan.
Payday loans are easy to get, but the issue is that the interest rate is considerably higher and you are required to make repayments over a shorter term. With some types, you have to pay the whole sum back in one go, as well.
A doorstep loan is one of the most convenient lending options out there, because it doesn't require you to make any effort at all. Read More »
The loan literally comes to your doorstep, in cash, as does the application, and the repayment. It is also good for individuals who have bad credit, or who do not own assets for a secured loan.« Show Less
A secured loan is a good idea if you plan on taking a more expensive holiday that requires a larger loan. This works out conveniently because the interest rate is low. All you need to do is provide an asset to secure the loan and then pay the monthly repayment instalments.
Do you have bad credit and no assets to speak of?
Then perhaps a guarantor loan is for you! This type of loan allows for another person to co-sign the loan with you. That means they assume financial responsibility if you fail to repay the loan. On the upside, it's quick and easy, but on the downside, it's difficult to find someone to act as your guarantor.
Caution: Say you do find yourself unable to repay the loan, your guarantor will have to take financial responsibility for you. Bear in mind that this is a risky position to put someone in, so make that your guarantor trusts you completely.
One of the easiest solutions is to just use credit cards, especially if don't plan on making huge expenses. You can then continue to pay off the balance as usual.
Top Tip: Some hotels or airlines will charge you extra for paying with a credit card, so make sure you check that beforehand. It may also be beneficial for you to use the credit card calculator from the Money Advice Service to see if this is a good idea for you.
Frequently Asked Questions FAQS
Still have unanswered questions? Find all the answers to the most frequently asked questions regarding pay monthly holidays below.
How Much Can I Borrow?
You can borrow anywhere between £1,000 and £10,000.
Is The Application Process Entirely Done Online?
In the majority of cases, this is correct. You will be required to fill in a few details online to apply for your holiday loan and then you should receive a decision fairly quickly letting you know if you have been accepted or not. In other cases, however, we may ask for more documents before approving your application.
What Happens If My Plans Change?
Plans are rarely set in stone, so if you change your mind, don't worry – you aren't bound by the original booking. You can amend or cancel your package entirely at any time you wish. This will, however, incur a charge, in addition to the deposit. The amount depends on the agency, and you should be able to find this information in their Terms & Conditions.
What Happens If My Flight Is Cancelled?
You may find yourself in a situation where your flight is cancelled – either outbound or inbound. It's an unfortunate and inconvenient situation, but the agency has your back. They can book you another flight without a problem, so that your holiday is protected.
How Do I Make Repayments On The Loan Taken Out?
We would usually use CPAs (continuous payment authority) set up via the debit card you registered with to collect the monthly repayments. If you prefer, you can pay manually by contacting the lender direct.
How Long Do I Have To Repay?
There is no fixed repayment term, as it varies a lot, depending on several factors, including: the company you are going through, how far ahead you're booking, how expensive your holiday package is, how much you can afford, etc. However, you can be required to repay up to 12 weeks in advance or just 2 weeks in advance.
Can I Get Pay Monthly Holidays With No Credit Check?
When it comes to borrowing money, one of the most frequently asked questions is whether there is an option that does not require a credit check. Fortunately, pay holidays monthly with bad credit are possible. (Just bear in mind that bad credit options come out more expensive!)
Do I Have To Put Down A Deposit?
Unlike other alternatives, in order to get a pay monthly holiday, you will need to pay a deposit. The amount differs depending on the agency, as well as how far down the line your holiday is.
Do Airlines Offer Pay Monthly Schemes?
Yes, there are airlines that enable you to pay through an affordable scheme like this, thus opening many options for a lot of people. However, you have to remember that not all airlines have this feature, and you will either need to look for one specifically for this, or you can just pick one out from pay monthly holiday packages.
When Will I Receive My Booking Confirmation?
You should receive this via your travel provider when the booking process is complete. Please get in touch with us if this has not happened.