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Whether it's funding home improvements, or getting through a lean period, the best loans can give you the flexibility you need to stay on top of your finances.

Compare loans from over 15 providers

You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

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Types of Loans

To spread the cost of a large expense ...

A personal loan is a good option if you want to fund a holiday or an home improvement project. They let you borrow a fixed sum of money and pay it back in fixed monthly instalments.

Borrow a large amount e.g. more than £10,000...

Require some type of security, such as a car or home, which you borrow against, this improves your eligibility. But does put your car or home at risk of repossession, if you're unable to keep up with repayments.

To buy a property quickly ...

Bridging loans are useful when you need to pay for something but are waiting for funds to become available, for example, waiting for the sale of another property to go through.

To borrow for your business ...

Business loans are similar to personal loans, but are specifically designed for business use, for example buying more equipment or expanding the business.

If you want to pay off several debts ...

Debt consolidation loans allow you to borrow money to pay off several debts, by combining them into one so there is only one monthly repayment to make.

If you have a poor credit history ...

Bad credit loans are designed for people who have had trouble getting credit in the past because of a history of missed payments or CCJs.

Who can get a loan?

To get a loan, UK wide, you must:

  • Be at least 18 years old

  • Be a UK resident, with proof of address

  • Provide proof of your income

  • Pass a lender’s credit check

Most providers have their own assessment criteria so a particular provider may give more weightage to certain criteria than another.

How much will your loan cost?

The amount your loan will cost you will be dependent on the APR, the term you choose, and the fees associated with your loan.

Some common types of fees include:

  • Application fee – pays for the process of approving a loan

  • Processing fee – similar to an application fee, it covers the costs associated with administration

  • Origination fee – the cost of securing a loan (common for mortgages)

  • Late fee – this is what your lender will charge you for late payments

  • Broker fee - using a broker will incur a fee for services like negotiations, sales, purchases, communication with lenders, delivery and advice on transactions.

You can use our loan repayment calculator to help you work out what a loan may cost you.

Loan AmountTermAPRMonthly PaymentTotal repaid
£5,0001 year3.7%£424.92£5,099.04
£5,0002 years3.7%£216.32£5,191.68
£5,0003 years3.7%£146.82£5,285.52
£5,0005 years3.7%£91.27£5,476.20
£5,0007 years3.7%£67.52£5,671.68
£5,00010 years3.7%£49.77£5,972.40
  • Borrow from £1,000 to £250,000

  • Repayment terms from 12 months to 10 years

  • Annual Percentage Rates (APR) up to 99.9%

Representative example: Assumed borrowing of £5,000 over 36 months at a fixed annual rate of 18.5% would result in a representative rate of 18.5% APR, 36 monthly repayments of £178.50 and the total amount repayable would be £6,426.

You should always shop around to find a loan provider that can offer the best deal for your circumstances.

How to know if you will qualify for a loan?

A lender will only provide a loan if they are reasonably certain it will be repaid.

As your credit score helps lenders determine your level of risk, improving that score will help you qualify. Generally, the higher your credit score, the more likely you are to qualify for a loan. Your credit score may also impact the interest rate you're offered.

You will need to present proof that you have sufficient income to repay the money borrowed, plus the interest and additional fees.

How to apply for a loan

You can apply for a loan online, over the phone, by post, or, if applying with a bank, by visiting a branch. You will also need the following documents for proof identity and income:

You will also need to provide the following documents for proof identity and income:

  • Bank details
  • Current address, and previous address for the past three years
  • Personal details e.g. date of birth, etc.
  • Employment details and proof of income

Some sources income are not accepted by certain lenders when assessing your eligibility. Some examples of these are:

  • Reimbursement for expenses

  • Maintenance payments from an ex-spouse or partner

  • Overseas income

  • Rental income from any buy-to-lets that you own

  • Student loans

  • Benefit payments – child benefit, universal credit or jobseeker's allowance (JSA)

You will usually be required to provide your three most recent bank statements and payslips that can prove your income.

Frequently Asked Questions

Why compare loans with

Comparing loans could help you save money. Our award-winning loan comparison service makes sure you get our best interest rates. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

We are classed as a credit broker for consumer credit, not a lender. Our services are provided at no cost to you. We may receive a commission from the companies we refer you to, but this does not affect what you will pay for the product you choose.