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Norton Finance Secured Loans
Norton Finance Secured Loans
Total to pay back   £14,602.64
Monthly payments   £81.13
Representative APR   5.39%

Norton Finance is a credit broker and not a lender. They work with a selected panel of lenders.

Norton Finance is unable to accept applications from tenants unless it is for a house purchase over £20,000 or you own another property.

Pre Qualifying Criteria

 

  • UK Resident – Yes
  • Minimum Age – 18 years old
  • Employment Status – All employment types accepted including benefits income

Important Information

 

  • Norton’s homeowner loans vary in value from £10,000 to £500,000 , over 1 to 30 years
  • Secured loan interest rates start from an initial rate of 5.39% though the exact APR and rate you receive will depend on your personal financial history
  • Norton may charge you up to 12.5% broker fee for a successful secured loan
  • Norton Finance carry out a soft search on all applications which won't affect the customers credit rating.
Norton Finance Unsecured Loans
Norton Finance Unsecured Loans
Total to pay back   £3,013.48
Monthly payments   £3,013.48
Representative APR   5.39%

Norton Finance is a credit broker and not a lender. They work with a selected panel of lenders.

Pre Qualifying Criteria

 

  • UK Resident – Yes 
  • Minimum Age – 18 years old
  • Employment Status – All employment types accepted including benefits income

Important Information

 

  • Norton’s unsecured loans vary in value from £3,000 to £25,000.
  • Unecured loan interest rates start from an initial rate of 5.39%, though actual rates and APRs depend on individual circumstances, credit score, and the specific lender matched from their panel
  • Norton Finance will carry out a soft search on all applications which won't affect the customers credit rating 
  • Norton Finance does not charge broker fees on unsecured loans.
Loan.co.uk Personal Loans (Broker)
Loan.co.uk Personal Loans (Broker)
Total to pay back   £3,123.12
Monthly payments   £14.87
Representative APR   16.9%

Representative Example: borrowing £10,000 over 60 months with a representative APR of 16.9%, an annual interest rate of 16.9% (Fixed), the amount payable would be £241.68 per month, with a total amount payable of £14,500.00. Maximum APR 34.9%

Loan.co.uk is a credit broker and not a lender. They work with a selected panel of lenders.

Pre Qual Criteria:

  • Uk Resident
  • 18 or over
  • Employment Status – All employment types considered
  • Must not be currently bankrupt or in an IVA or debt management arrangement

Important info:

  • Loans from £1,000 to £30,000
  • Loan.co.uk rates start from an initial rate of 16.9% though the exact APR and rate you receive will depend on your personal financial history
Loans Warehouse Personal Loans (Broker)
Loans Warehouse Personal Loans (Broker)
Total to pay back   £1,489.11
Monthly payments   £35.46
Representative APR   26.9%

Representative Example: borrowing £1000 over 42 months with a representative APR of 26.9%, an annual interest rate of 24.07% (Fixed), the amount payable would be £35.46 per month, with a total cost of credit of £489.11 and a total amount payable of £1,489.11.

Loans Warehouse Ltd is a credit broker and not a lender. They work with a selected panel of lenders.

 

Pre Qualifying Criteria

 

  • UK Resident – You can be a tenant or a homeowner
  • Minimum Age – 18 years old
  • Employment Status – All types accepted, must be earning at least £700 per month (gross)

Important Information

 

  • Loans from £1,000 to £50,000
  • Loans Warehouse will assess your information to establish which loans are suitable for you
  • Loans Warehouse will conduct a soft credit search which will not adversely effect your credit rating
  • The better your credit profile, the better your chances of being approved for a personal loan
  • Interest rates may vary depending on your circumstances and the loan amount requested
  • Can be used for many different purposes, from home improvements or buying a car, through to debt consolidation
Loans Warehouse Guarantor Loans
Loans Warehouse Guarantor Loans
Total to pay back   £950.99
Monthly payments   £22.64
Representative APR   49.9%

Representative Example: borrowing £500 over 42 months with a representative APR of 49.9%, an annual interest rate of 41.16% (Fixed), the amount payable would be £22.64 per month, with a total cost of credit of £450.99 and a total amount payable of £950.99.

Loans Warehouse Ltd is a credit broker and not a lender. They work with a selected panel of lenders.

Pre Qualifying Criteria

 

  • UK Resident – You can be a tenant or a homeowner
  • Minimum Age – 18 years old
  • Employment Status – All types accepted, must be earning at least £600 per month (net)
  • Additional information - Guarantor must have a GOOD CREDIT RATING

Important Information

 

  • Loans from £1,000 to £10,000
  • Loans Warehouse will assess your information to establish which loans are suitable for you
  • Loans Warehouse will conduct a soft credit search which will not adversely effect your credit rating
  • The better your guarantor’s credit profile, the better your chances of being approved for a guarantor loan
  • Can be used for many different purposes, from home improvements or buying a car, through to debt consolidation
Loans 24/7 Personal Loans (Broker)
Loans 24/7 Personal Loans (Broker)
Total to pay back   £1,741.29
Monthly payments   £96.74
Representative APR   79.5%

The values of the repayment can slightly vary.

Representative Example: Borrowing £1,000 over 12 months at £116.05 per month. Total amount repayable is £1392.60. Interest: £392.60 . Interest rate 79.5% p.a. (variable). Max APR 1721%

Loans 24/7 is a credit broker and not a lender. They work with selected panel of lenders.

Do I Qualify?

 

  • You must be 18 years old or over
  • You must be a UK resident

Important Information

 

  • Loans 24/7 specialise in finding short-term, flexible loans to suite your needs. 
  • 100% no fee - Loans 24/7 don't take a penny and searching for your perfect loan won't affect your credit score.

 

How it works

When comparing personal loans, think about your individual needs and what you can realistically afford to pay back monthly. Avoid being tempted to borrow more than you need. If you meet the lenders' criteria and your loan is approved, your money will be transferred to your chosen bank account. Here's a quick summary of how to make personal loan comparisons:

1. Decide how much you need Icon 1. Decide how much you need

First, put in the amount you need to borrow, and how long you would like to repay the loan. Then click the "update" button to see the results.

2. Compare personal loans Icon 2. Compare personal loans

When comparing your results, look at the various factors to get a full picture. Check the monthly repayments, the total you will need to pay back and APR. Also, check if there are any early repayment fees, in case your circumstances change and you decide you want to pay the loan back sooner. You can re-order your results from lowest to highest or vice-versa by using the arrows on each heading at the top of the comparison table.

3. Apply for your loan Icon 3. Apply for your loan

Once you have decided on an option, click ‘apply now’ to see the lenders page. Check the terms and conditions, and the lenders' requirements for the best chance of approval. Before entering your details, double-check you can afford the monthly repayment amount.

4. Receive your loan Icon 4. Receive your loan

If your loan application is approved, cash will be transferred to your selected account. Usually, payments will be set to come out of your chosen account automatically by direct debit and every month until paid back.



Before you apply, check you have all the information you need, and you can make the monthly repayments amounts.

What is a personal loan?

A personal loan is an amount of money that is borrowed. The borrowed money is paid back over an agreed period (or term), usually with interest. Most are classed as unsecured personal loans, which means assets are not needed to be used as collateral. Personal loans come in various amounts, starting from small personal loans at £1,000 and increasing to larger sums, typically £25,000. Usually, the loan term ranges from 1 to 5 years. Loans for shorter periods (1 to 12 months) are referred to as short term loans and are usually for amounts up to £1,000. However, these loans tend to have a higher interest rate.

Getting the cheapest personal loan

Lowest interest rate personal loans usually apply to loans of larger amounts. In other words, the larger the amount you borrow, the lower the interest rates are likely to be. However, it's important to also look at the total you will need to pay back, not just the interest charged. And bear in mind the longer the term, the more interest you will likely pay.

You will have a better loan offer from a direct lender if you have a good credit score. But, it's also worth spending time shopping around online and comparing personal loans as the first deal you find might not be the best.

Finding the right personal loan lenders in the UK

Before you decide to apply, consider researching what's available to you. Once you have a shortlist of lenders, check their terms and eligibility criteria. Finally, double-check the total repayment costs, and monthly repayments are realistic for your financial situation, factoring in any big life changes that could affect your income.

Never borrow money that you know you cannot pay back. Failing to pay back on time will hurt your credit score, or worse, it may result in the loss of an asset, as in the case of a mortgage.

If you want to know more about applying for a loan check out our guide to personal loans.

What you need to know about personal loans

If you fail to pay back a loan on time, there are severe consequences. So never take out a loan for pointless spending, and avoid borrowing more than you need to. Apart from the stress it will likely cause, and the knock-on effects on your finances, default payments will show on your credit history, which will harm your ability to borrow money in the future.
If you are struggling to pay back a loan, you should contact your lender immediately. You can also seek advice from StepChange, National Debtline, and Citizens Advice.

What are the alternatives to a personal loan?

If you want to borrow either less than £1,000 or more than £25,000, a personal loan may not suit you. Alternatives can include:

Credit cards

Authorised overdrafts 

Short term loans (these do normally have high interest rates)

In the case of borrowing large amounts of money:

Equity release - for mortgage holders

Secured loans.

You should be confident you can pay back debt before borrowing and beware of allowing debt to accumulate, as can happen with credit cards. Not paying back a secured loan will mean you can lose the asset used as security. If you are struggling financially, it's best not to take on more debt. Contact your lender or seek help and advice.

Improve your chances of being approved for a personal loan

As personal loans are a form of unsecured lending, lenders are more likely to approve applications from people with a good credit history or score, personal loans for bad credit scores will have a much higher interest rate and are much less likely to be approved. Lenders will also look at affordability to check you can realistically afford a loan.

They will also look at your current debts, such as existing loans and credit cards. Too many of these may mean your application is not approved. Additionally, a lender may see you as struggling financially if your credit report shows you have made many loan applications recently and other lenders have been performing searches on your file.

Can I get a personal loan if I have bad credit? -

While getting a personal loan with bad credit isn't impossible, it is harder and more expensive. Traditionally, payday loan and short-term loan lenders were known to lend to persons with less favourable credit scores. However, this is an expensive form of lending due to the high-interest rates.

It may be best to improve your credit score first before applying to borrow money. This can take time, but remember that you may get a better deal with a good credit history.

Can I get still get a personal loan if I am self-employed? +

Many lenders may still lend to you even if you are self-employed. Check the lender's criteria to ensure you will not be rejected in such a case. Lenders may ask you to prove your income, as you can be seen as higher risk, due to not having the security of an employer behind you and a consistent, regular income.

The usual rules around affordability will still apply. For example, suppose you can only afford to pay yourself £1,000 a month. In that case, you are unlikely to accept a loan with £500 monthly repayments.

Will my credit score affect my personal loan application? +

In short, a personal loan direct lender will use your credit score to indicate how reliable you may be as a borrower. It's not a guarantee, however. Lenders look at affordability, too, considering your income and regular expenditure. They will also look at any outstanding debt you may have.

Your credit history will show how good (or bad) you are at paying back debts and bills. It will have a history of where you have lived and any financial connections that you may have with other people. Additionally, it will show if there have been any recent "hard" searches on your credit file - due to you trying to apply for credit elsewhere. It's good to regularly check your credit history, look for mistakes, discrepancies or missing data and get these fixed as soon as possible. Your credit score is one of the factors that will help a lender decide whether to lend to you or not.

Do I need a good credit rating for a personal loan? +

Generally, the better your credit rating and history, the more likely you will be accepted for a personal loan. Loan companies specialise in lending to people with bad credit ratings, so all is not lost if your credit history is less than perfect.

Personal Loans FAQs