This site is designed to save you time and money by directing you to the best UK loans. At a glance you can see the best loan deals from all the UK's leading personal loan companies and see who offers the lowest interest rates.
We provide details on more than 250 UK personal loans with many products listed available to apply online immediately.
Whether you’re looking for an unsecured personal loan with a low interest rate or have been refused credit in the past due to a poor credit history, you’re sure to find a loan that suits your circumstances and requirements.
Searching for a cheap loan has never been easier…
Whether you’re thinking of buying a new car, booking a dream holiday, making home improvements or looking to refinance, our interactive search facility enables you to compare loans from all the leading lenders and see which companies offer the best APR and repayment terms.
Simply provide a few details such as how much you would like to borrow, over what length of time, whether you have any adverse credit or not and we’ll present you a list of the best loan deals in the marketplace
Before the credit crunch, lenders were falling over themselves to offer loans to would be borrowers, with an average loan rate of just 7.8% in 2006. However the banks and indeed the taxpayer are now counting the cost of what is regarded as a period of over enthusiastic lending.
The collapse of Northern Rock in September 2007 signalled a sea change in attitudes and the carnage that ensued with accusations of reckless lending has led financial institutions to considerably tighten their criteria on who they would, and who they would not, lend to.
Despite the Bank of England base rate being at a 300-year low of 0.5%, the interest rates on personal loans have been creeping up steadily. It is believed banks are wanting to discourage unsecured borrowing and high loan rates are an effective method of deterring would be applicants. The lack of appetite among lenders to lend to new customers is demonstrated by the fact that many of the best loan rates advertised today are reserved for existing current account customers. The banks feel they can “closely examine” their customers financial behaviour and set an interest rate based on their individual risk and credit record.
Even people with impeccable credit files will find their options more limited when compared to a few years ago. Nevertheless, deals are still available.
Loan Specialists by 1st4uloans.co.uk