PEOPLE IN THE UK OWE £1,680 BILLION IN PERSONAL DEBT. THAT'S £31,845 PER ADULT, WHICH IS AROUND 112% OF AVERAGE INCOME, AND UK BORROWERS ARE PAYING £140 MILLION PER DAY IN INTEREST PAYMENTS.
Lenders often use people's need for credit to sell fast access to debt, with complex products and poorly presented information making it hard for people to judge the real cost of their borrowing. The result is that most of us don’t fully understand our borrowing, are paying more in interest and fees than necessary and are carrying debt for longer than ever before.
We think it’s time this changed. ilumoni is dedicated to making it easy for people to borrow well, giving you the tools you need to unlock Better Borrowing.
WHAT WE'RE DOING TO UNLOCK BETTER BORROWING
WHAT YOU CAN DO
How does it work?
ilumoni looks at your spending, costs of borrowing and credit score alongside the products you are eligible for to suggest repayment amounts and highlight different providers and better products. All based on what you want to achieve.
Meaning you end up with more money and more freedom.
Puts you in control
ilumoni securely connects your credit report and bank accounts together, so you can see how much your borrowing adds up to over time.
Finds smart ways to repay
ilumoni analyses your spending and finds the best way to manage your debt.
Always looking for the best deals for you
ilumoni highlights better deals on credit cards and loans that you're eligible for to help you achieve your goals.
Your accounts will always be safe and secure with our bank-grade security and encryption systems. We do not sell your data to third parties and are bound by European data protection rules.
You are in control and decide what data to share with the app or not.
ilumoni will always be free to use and you'll never be bombarded with advertisements or email marketing campaigns.
We're not a lender and only highlight products to switch to when it's right for you. We never stop searching for bright ideas to help you pay less interest and clear your debt faster.