Loans in the United Kingdom
Quick and easy loans in the UK
Your personal circumstances affect the rate we can offer you, which may differ from that of the APR representative. We will do a credit assessment of your circumstances when you apply. Credit available subject to status for UK residents aged 21 and over. You can apply for a loan if you have a regular gross annual income of at least £6,000 and have not filed for bankruptcy or had a CCJ or IVA in the last 6 years. We reserve the right to reject any application and to deny a loan for certain purposes. Information and rates correct as of 10.07.2018. Refunds must be made by Direct Debit. Rates can be drawn at any time.
When a credit card is better than a loan
The most important factor here is your credit limit. Credit cards will generally not get you more than £5,000, and that’s as long as you have a good credit score. So if what you need to buy is more expensive, you’re probably better off looking at a £5,000
But, if you can buy whatever it is for £5,000 or less, you have several other options. See if any of these scenarios fit you…
Personal loans, also known as unsecured loans, are those in which you borrow a fixed amount from a lender and agree to repay it over a set period of time by paying fixed monthly installments.
The lender will charge you interest as a fee to lend you money, so you pay back both the amount you borrowed plus interest. The advantage is that you get cash up front, but you can spread the cost of a purchase over several months or years.
This guide tells you the cheapest personal loans, but also addresses whether other financing options might be cheaper for you.
If you’re looking for a loan, check out the best buy rates below. We list loans by “bands” because the rate you can get differs depending on how much you want to borrow. Also, if you want to know what loans you will do it get, without applying, use our eligibility calculator to see your chances.
The best buys are below, but there’s a chance to knock some of these rates down by 0.5 percentage points if you have a current Nationwide customer account (or if you successfully apply for one of their accounts). Read a full nationwide issue on how
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