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)

What You Need To Know About Cheap Personal Loans

Losing a job can be one of the most devastating things that will happen to anyone – unless they have another form of income. Running out of cash makes it worse especially when they have no one to turn to. Most lenders will automatically reject anyone who is not employed; however, there are still those who are willing to offer a financial assistance.

Cheap personal loans with a guarantor, for instance, are one way to increase your chance of getting approved. Although the number of lenders you have is limited, it’s still a relief to know that you’re going to have the financial support you need when everyone else is rejecting your loan application. It works by involving another party to cosign the loan contract with you.

The application starts by completing an application form from their website or via an app. No paperwork is required but you need to provide your personal and financial information, thus it’s important to settle only with licensed companies who offer cheap personal loans. Take note however that some lenders may ask you to fax or send documents via email. Nonetheless, it’s still a more convenient way than the conventional loan application process.

Usually, the amount provided is smaller than the ones offered by mortgage loans. It may not be enough to purchase a property – like a house or a car – but it is sufficient for covering minor expenses such as when looking for a new job.

why get cheap personal loans

Most cheap loans can also be used by bad credit borrowers. After making a financial mistake, you may now realize how creating a new line of credit is difficult. Traditional lenders and banks are more likely to disregard your application. Fortunately, with personal loans, you can borrow and advance despite your damaged credit report. The lender will look at other factors to determine your creditworthiness such as your source of income (in case you have a job or receiving benefits and the like) and bank account.

Nevertheless, having a good or excellent credit rating is more beneficial since lenders will see you as a low risk to their businesses. One of its perks is that you can have cheap personal loans, a bigger loan amount, and a more flexible repayment term.

But what if you can’t find a guarantor? Does that mean you cannot request for cheap personal loans?

The answer is – no. Many lenders, who are offering cheap loans, have become lenient with their requirements. They are ready to welcome borrowers of all sizes – employed, unemployed, self-employed; with good credit remark or bad credit rating; with security or no asset; with a guarantor or none. This is good news when you want to keep things within yourself. You can ask for a loan without bothering anyone you know and you can do this discreetly, within the comforts of your own home. The challenge, however, is to find the one who will offer cheap personal loans. There are a lot of online lenders and most are taking advantage of those who are desperate enough. Avoid being a victim of loan predators and do a research first to find out who will accommodate your request with the most favorable terms and conditions.

What You Need To Know When Taking Out Cheap Personal Loans

A few years ago, getting a loan means waiting for weeks or even months. It also means carrying a handful of documents and talking to different agents. Now, you can get cheap personal loans online. All you need is a laptop (or a mobile device) and a network connection. You can then proceed to provide necessary information like a complete name, email address, contact number, bank account, and proof of income (if applicable). The details will be utilized to verify your identification and the amount they can lend you.

For most car loan lenders, especially when you want to score cheap personal loans, the credit report plays a vital role in the success of your application. This means that you may be declined if you have a low credit remark or you can still take out a loan but the interest rate is higher.

Online cheap personal loans have become popular primarily because of its speed. When there’s an emergency situation such as a loved one who needs medical attention or a broken car, the last thing you want is to wait. Using personal loans, you can have the money you need at the soonest possible time.

Another feature that you would surely enjoy is the flexibility. With cheap personal loans, you can ask for the specific amount you need and even set your own due date even for a payday. It also has no restrictions and you can use the loan on many things.

If there’s one confusing thing about UK cheap personal loans, that would be deciding whether to take it secured or unsecured. Each type has its pros and cons and it’s up to you to decide which one will work best according to your needs and preferences.

If you want cheap personal loans, a bigger loan amount, a more flexible repayment term, and a higher chance of getting the lender’s approval regardless of your credit rating, you can go with secured personal loans. The loan will require you to pledge collateral as a security against the credit. It can be a house, a car, or any item of value. This is advantageous if you’re aiming for a lower-priced advance. The catch, however, is that you should not default on the loan; otherwise, the loan provider has the right to repossess your asset, sold it, and use the money to compensate for the remaining loan amount and acquired additional charges.

Meanwhile, if you’re a homeowner who doesn’t want to put his property at risk or you simply don’t have any collateral to pledge, you can go with unsecured personal loans. You’re guaranteed that you will not lose anything in case you decided to stop repaying the loan; however, this will result in a lower credit remark. In some cases, the lender may file a court order against you. Also, the amount you can borrow is lower and the interest rate is higher. Moreover, if you are unemployed or have a bad credit remark, your chance of getting approved is slim.

why get cheap personal loans

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.