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As a responsible lender we work with you to ensure you can afford your borrowing over the whole Loan term.

If you can foresee changes in your circumstances that may increase your outgoings or reduce your disposable income then please contact our Customer Services team on 0800 363 400 to apply.

Changes to consider are:

• Employment situation changes; imminent retirement, maternity, paternity or extended leave.
• Reduction in working hours; fixed contracts end dates or zero hour contracts.
• Increase in living costs; rent or mortgage repayments.

If you are using any part of this loan to pay off or reduce existing loan(s)/debts (including combining these into a single loan), it is important to consider not just the interest rate and monthly repayments, but also the term of this loan compared to the remaining term of your existing loans/debts.

Spreading your payments over a longer term means you could end up paying more overall than under your existing arrangements, even if the interest rate on this new loan is less than the rates you are currently paying.

You should also consider if any early repayment charges apply and if this form of borrowing is appropriate for your circumstances.

Interest will be charged throughout the full loan term, including the optional deferred period.

When we check your details with a credit reference agency, a search/enquiry is registered to say that you've applied for credit today. As part of our checks, we link your name with individuals associated with you financially, and any previous names you've provided. The credit reference agencies will record details of your application which will form part of your credit history whether or not you proceed, and if you make several applications for credit within a short period of time, this may temporarily affect your ability to obtain credit.

We'll also check your details with a fraud prevention agency to prevent fraud and money laundering. If you've provided false or inaccurate information (and fraud is identified) we'll pass your details to fraud prevention agencies. If you want, we can explain how your information held by fraud prevention and credit reference agencies may be used.

Credit is subject to status. Customers who do not meet our normal criteria may be offered a different APR to our standard rates. The amount and term you request will also impact the rate offered.

When borrowing with an M&S Personal Loan you should consider your ability to maintain the monthly repayments should your circumstances change.

M&S Bank does not currently sell payment protection insurance to protect you in the event of unemployment, sickness or accident. However, there are products in the market that will do this and insurers who sell this cover.

Customers who already have a policy with M&S can still claim - please call us on 0345 900 0900 or contact us online for a claim form.

You can find useful information on the Money Advice Service website including information about payment protection insurance.

Your gross annual income is the amount you receive before tax, national insurance and any other deductions. This includes self-employed income and any pensions.

If you receive income from a zero hours' contract, please include your average earnings for the last 12 months with the same employer.

Please include any benefit income when guaranteed for the duration of the lending. These include, but are not limited to:

• Universal credit (not including job seekers allowance).
• Working family tax credits & child tax credits.
• Any maintenance or child support payments.
• Benefits for those with a disability or caring for a dependent.
• We may need to see evidence of these payments.