WARNING: LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. RATES FROM 45.3% APR TO 1575% APR FOR HELP, GO TO MONEYADVICESERVICE.ORG.UK

Online loans £50 To £2000

The Best Loans In Then Market

How much?

Representative 277.5% APR Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed). The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances.

Why Choose MoneyFall

Quick and Easy Process to the money you need. The most reliable lenders from across all the UK

Loan amount
1,500 - 25,000
Loan term
1 - 5 Years
CUSTOMERSCORES
Excellent
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Loan amount
500 - 25,000
Loan term
1 - 5 Years
CUSTOMERSCORES
Gold Trusted Service - feefo
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Loan amount
500 - 25,000
Loan term
1 - 5 Years
CUSTOMERSCORES
Gold Trusted Service - feefo
Apply Now

Show More ▼

Loan amount
500 - 25,000
Loan term
1 - 5 Years
CUSTOMERSCORES
Gold Trusted Service - feefo
Apply Now

Show More ▼

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

4 steps in securing the best loan rates in the UK

You already have come to the conclusion that taking out a loan is a reasonable decision that you need to make given your present financial needs and circumstances. You have also determined what type of loan is ideal for you. The only thing left to do is to compare the available offers so you can access the best loan rates in the market. To help you succeed in this all important quest, here are 4 steps you can follow to secure the best loan rates in the UK

Securing the Best Loan Rates

step #1 – Find the right lender

To secure the best loan rates you can get your hands on, the first and most important step that you need to accomplish is finding the right lender. In the UK, there are a number of reputable credit providers that can help you enjoy the most affordable deal possible and they include.

  • Banks – Bank loans are the most traditional forms of financing in the UK. There are plenty of advantages that you can enjoy in taking out a loan from a bank especially if you are an existing account holder. First, it would be easier to maintain all your finances as your savings account and loan will fall in just one credit institution. Banks also have numerous local branches that can cater your loan application and you can also enjoy solid rates and terms – especially the best car finance rates – if you are a longtime client. On the flip side, there are a few personal loans available from banks and it would be extremely difficult to access the lowest personal loan rates and get approved if you don’t have a stellar credit rating.
  • Credit Unions – The biggest drawback with credit unions is that only members can access the best loan rates that they can offer. The kinds of funding solutions that they are offer are also fewer which means it would be hard to make a comprehensive loan comparison. However, if you are a member, it would be a whole lot easier to get approved for the lowest personal loan rates and the requirements needed to become eligible for are also fewer and more lenient.
  • Online Lenders – When it comes to personal loans, it would be easy to secure the best loan rates in the market if you apply from online lenders. The entire application process is also a whole lot more convenient and you can enjoy the best chances of getting approved from any lending institution. You will need to be very careful when it comes to choosing the right online lender however. There are plenty of elicit online lenders in the World Wide Web so be sure that you partner with an online lender that is reputable and FCA licensed.

Every lender has its own set of advantages and disadvantages and in the end, the best decision for you will boil down to the kind of financing you want to enjoy.

why choose the best loan rates

Securing the best loan rates step # 2 – Obtain multiple quotes

After you have determine which credit provider suites you and your financial needs best, the next step in securing the best loan rate available would be to obtain as much quotes as you can find. Be sure to shop around and secure more than 5 quotes so you can make an effective loan comparison. You might also want to use a loan calculator so you will know how each potential loan deal will cost you after the end of every term.

Here are some things that you might want to look into when you obtain multiple quotes to enjoy the best loan rates:

  • Obtain quotes from every financing institution (if possible) – Ask for a quote from all three financing institutions mentioned in step #1 if you feel that there are no issues applying for a loan from either one of them. This way, you will have plenty of options to choose from and landing the best loan rate and term would be easier.
  • Obtain quotes from different lenders – Whether its from an bank or online lender, it would be best to ask a quote not just from a single company or lender but from its competitors as well. If you feel that working with online lenders is the best choice for example, then try to apply for as much quotes from direct lenders that you can find online so you can obtain the lowest personal loan rates that you can qualify for.
  • Obtain quotes from different loan options – The kind of loan that you should focus your search on on should be the one that meets your specific funding needs. For instance, if you are looking to purchase a new car, then you might want to look for the best loan rates for an auto loan. If its a more personal form of financing that you require, like taking a vacation or personal covering the cost of a wedding event, then you might want to limit your search on the lowest personal loan rates.

Securing the best loan rates step # 3 – Make an effective loan comparison

Once you have garnered enough number of quotes from different types of payday lenders and loans, this would be the perfect time to make an effective loan comparison. The most important thing to bear in mind in this step is that every loan offer will be different which means you will need to spend a considerable time to compare the best loan rates available.

When you make a loan comparison, include these essential points:

  • The type of financing option, whether its a secured or unsecured form of funding
  • The amount of loan that you intend to borrow
  • The APR or Annual Percentage Rate
  • The cost of repayment
  • Extra fees and charges
  • Penalties for late payments and the like
  • Loan terms and conditions
  • Early repayment charges

Overall, make sure that you know full well what every term and condition is on the type of credit agreement before you make your final decision. And don’t be shy to use a loan calculator if needed – its typically offered for free.

Securing the best loan rates step # 2 – Bargain!

So you can secure the best loan rates in the UK, you will need to approach lenders and make an attempt to bargain. Never hesitate to inquire a potential lender if it is comfortable to remove some types of fees to reduce the cost of your loan or if it is possible for you to access lower interest rates. There are lenders who will help you with this matter without any hesitation and there are also others who are willing to meet you halfway. In the end, it will bring you plenty of good and zero harm if you try to make a bargain from a lender.

how to get the best loan rates

 

5 most recent personal loan reviews

Review of Bridge Finance

This is my second loan with Bridge Finance and both times they have been very helpful and informative. Explained everything to me and made sure I understood the process and what would happen. I would recommend Bridge to anyone.

Review posted by Charlotte Ashton

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Wesleyan Bank

Wesleyan loans are a financial institute which is excellent for applying for loans. It looks at all your circumstances and provide loans to people who are refused elsewhere. They are fast and honest. I would recommend Wesleyan loans to anybody who needs a loan.

Review posted by Zafrullah Khan, Slough

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Logbook Loans

Really happy with my experience with Logbook. Most of the process was done online from the convenience of my own home. Really friendly customer services too! Highly recommended.

Review posted by Bethany Holcombe, Cirencester

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
All reviews are sourced from Trustpilot.com for authenticity.