David Allan

Expertly compared by David Allan

Products Updated November 1, 2018

Unsecured Personal Loans

Our loan experts have selected and displayed a range of the cheapest unsecured personal loans available. Below we have listed our recommended choice of personal loans on the market today for all credit types from excellent, fair and poor credit applicants. Loans shown available from £200 – £25,000.

This calculator will give you an idea of costs. The exact amount and APR payable will be provided from the lender subject to credit and affordability checks.

Your monthly payment will be:

£136.90

Interest on this loan will be:

£714

Annual Percentage Rate (APR):

3.7%

Total repaid will be:

£8,214

15 providers expertly compared:

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All credit types
Rated 4.9/ 5

Norton Finance Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£500 - £35,000

Representative APR
3.1%

Loan Term
2 - 5 years

Loan Type
Personal Loan Broker

Status
Homeowners & Tenants

Norton Finance are a personal loans broker who search their panel of lenders to find you the best deal possible. They will find you the cheapest loan that matches your credit rating and circumstances. Their service is free of charge and will not effect your credit rating.

Representative Example

15 providers expertly compared:

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Good Credit
Rated 5/ 5

Zopa Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £25,000

Representative APR
3.1%

Loan Term
1 - 7 years

Loan Type
Peer to Peer Lender

Status
Homeowners & Tenants

Zopa directly match people looking for a personal loan with people looking to invest. It's their way of making money simple and fair. Since 2005 Zopa have approved a staggering £2.92 billion in loans.

Representative Example

15 providers expertly compared:

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All credit types
Rated 4.7/ 5

AA Loans

Loan Amount
£1,000 - £25,000

Representative APR
3.1%

Loan Term
1 - 7 years

Loan Type
Personal Loan

Status
Homeowners & Tenants

The AA don’t just keep cars on the road, they can keep your finances running just as smoothly aswell. Whether it’s a new purchase, a holiday or getting some help to manage your existing debt the AA is here to help.

Representative Example

15 providers expertly compared:

Available via broker only
All credit types
Rated 4.8/ 5

RateSetter

Loan Amount
£500 - £35,000

Representative APR
3.9%

Loan Term
2 - 5 years

Loan Type
Peer to Peer Lender

Status
Homeowners & Tenants

Rate Setter is a peer-to-peer lender offering personal loans from £500 - £35,000 over 2 to 5 years. Loans available to both tenants and homeowners. Money could be transfered into your account within just a few days.

Representative Example

15 providers expertly compared:

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All credit types
Rated 5.0/ 5

CarFinance247 Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £250,000

Representative APR
6.9%

Loan Term
1 - 7 years

Loan Type
Vehicle Finance Broker

Status
Homeowners & Tenants

Finance for cars, motorbikes, vans and motorhomes. We make the process hassle-free & provide the customers with a helping hand throughout. Our aim is to get the best possible finance deal, whilst providing an efficient service of the highest quality.

Representative Example

15 providers expertly compared:

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All credit types
Rated 4.7/ 5

Zuto

Loan Amount
£1,000 - £250,000

Representative APR
8.9%

Loan Term
1 - 5 years

Loan Type
Vehicle Finance Broker

Status
Homeowners & Tenants

Zuto provides vehicle finance for cars, motorbikes and vans. They are brokers and can search across 17 of the UK's largest lenders to find you a great finance deal. Their service is free and can help with most credit types.

Representative Example

15 providers expertly compared:

Available via broker only
All credit types
Rated 4.5/ 5

Lending Works

Loan Amount
£1,000 - £25,000

Representative APR
7.9%

Loan Term
1 - 5 years

Loan Type
Peer to Peer Lender

Status
Homeowners & Tenants

Lending Works is a peer to peer lender that connects people that want to invest their money with borrowers who want to get a better rate on their personal loan. Loans available from £1,000 to £25,000 over 1 -5 years.

15 providers expertly compared:

Available via broker only
All credit types
Rated 4.4/ 5

1st Stop Personal Loans

Loan Amount
£2,000 - £15,000

Representative APR
18.2%

Loan Term
2 - 6 years

Loan Type
Poor Credit Lender

Status
Homeowners & Tenants

1st Stop Personal Loans offer unsecured personal loans from £2,000 to £15,000. Whether you’re looking to buy a new car, a new kitchen or thinking of any type of major purchase they can help secure the funding you need.

Representative Example

15 providers expertly compared:

Available via broker only
All credit types
Rated 4.5/ 5

Shawbrook Bank

Loan Amount
£1,000 - £35,000

Representative APR
12.9%

Loan Term
1 - 7 years

Loan Type
Personal Loan

Status
Homeowners Only

Shawbrook Bank is a direct lender offering personal loans to applicants who are 21 or over and homeowners. Loans for debt consolidation, home improvements or to puchase a car can be arranged up to £35,000. Apply online today within just a few minutes.

Representative Example

15 providers expertly compared:

Available via broker only
All credit types
Rated 4.6/ 5

Evolution Money

Loan Amount
£1,000 - £15,000

Representative APR
26.82%

Loan Term
1 - 5 years

Loan Type
Personal Loan

Status
Homeowners Only

Evolution Money provide loans to homeowners who are looking to borrow a maximum of £15,000 over 1 - 5 years. Loans can be used for any legal purpose such as home improvements, debt consolidation, a wedding or to buy a new car.

Representative Example

15 providers expertly compared:

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Poor Credit
Rated 5/ 5

Uk Credit Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £10,000

Representative APR
39.9%

Loan Term
1 - 5 years

Loan Type
Guarantor Loan

Status
Homeowners & Tenants

Trusted, simple guarantor loans from £1,000 to £10,000. With the help of a friend or relative to guarantee your loan UK Credit could get you the cash you need.

Representative Example

15 providers expertly compared:

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All credit types
Rated 5/ 5

Trust Two Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£500 - £10,000

Representative APR
43.8%%

Loan Term
1 - 5 years

Loan Type
Guarantor Loan

Status
Homeowners & Tenants

With Trust Two you could borrow up to £10,000, in your own name, by asking a relative or friend to guarantee that you'll repay it. Apply online and, once you and your Guarantor are approved, on average you'll have the money within 3 days.

Representative Example

15 providers expertly compared:

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Poor Credit
Rated 5/ 5

Avant Credit Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £20,000

Representative APR
42.5%

Loan Term
1 - 5 years

Loan Type
Poor Credit Lender

Status
Homeowners & Tenants

AvantCredit offers online unsecured personal loans of £1000 to £20,000 from 12 - 60 months with fixed monthly payments. AvantCredit understands that people have a less than perfect credit history and a guarantor is not required and you don't need to be a homeowner.

15 providers expertly compared:

Available via broker only
All credit types
Rated 4.6/ 5

Likely Loans

Loan Amount
£1,000 - £5,000

Representative APR
59.9%%

Loan Term
1 - 5 years

Loan Type
Poor Credit Lender

Status
Homeowners & Tenants

Likely Loans helps customers get the loan they require even if they have bad credit or a low credit score. Loans can be arranged quickly from £500 - £5000 over 1-5 years. There are no fees or extra charges for early repayment.

Representative Example

15 providers expertly compared:

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Poor Credit
Rated 4/ 5

Everyday Loans Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £15,000

Representative APR
93.6%

Loan Term
2 - 5 years

Loan Type
Poor Credit Lender

Status
Homeowners & Tenants

With everyday loans, you're more than just your credit score. Here at everyday we look at your credit future, not just your credit history. As such even if you have bad credit now or you've had a poor credit score in the past, we may be able to help.

Representative Example

What you need to know about unsecured loans

Most lenders offer unsecured loans up to £25,000

Most lenders offer unsecured loans up to £25,000

Firstly, unsecured loans, also known as personal loans, are very useful as they allow you to borrow a relatively large amount of money, usually up to £25,000, without having to secure it on your home or any other possessions. Therefore this represents a low risk option for you, the borrower. You can take out a personal loan for many different reasons and although lenders will ask you for your reason for taking out the loan, they do not make any particular judgement about its use, they are more looking for reassurance that you have a purpose for the money and that you are not just going to fritter it away.

Where are the best personal loans from?

The best personal loans are available from mainstream and peer to peer lenders, so therefore in order to qualify for these you will need a good credit record and also you will also need to be able to demonstrate that you will be able to pay back the loan at the agreed monthly repayments. Personal loans have competitive interest rates associated with them and you could see loans with interest rates as low as 4%, however it is more normal to see interest rates of around 5%. The loan amount you can borrow varies from lender to lender so you will need to check out all of the options to make sure that when you do apply for your loan it meets your needs and also that you meet all of the criteria needed to take out the loan.

Poor credit options

Options if you have a low credit score

Options if you have a low credit score

If you have a history of poor credit then there are still options from a fairly large range of unsecured lenders bad credit lenders who offer loans. As you would expect, the interest rates are higher than the regular ‘good credit’ lenders. If you can find a suitable guarantor then you may wish to consider the guarantor loan option as the interest rates offered by these lenders such as TrustTwo are lower than the unsecured bad credit lenders like Avant Credit and Everyday Loans.

What you need to do

Planning out what you are going to do with the money when you get it is going to take some time and effort, and you should put in at least as much effort into identifying the right loan for you. You will need to look at your own finances and work out what you can afford as monthly repayments. You can then use loan calculators in order to work backwards from here to find out how much you could potentially borrow. You can then use this information to compare loans and see how much you would pay over the total term of the loan so that you know the long term costs in advance. Once you have carried this research out you will then be in a position to apply for your loan.

 

FAQ's

What is a guarantor loan?

A Guarantor loan can help you gain access to the money you need even if you can't obtain credit in your name alone. Typically a relative or good friend will agree to be your Guarantor. They promise, should you ever fall behind with loan repayments, to personally cover them for you. Because your Guarantor knows and trusts you - and has also agreed to cover any repayment shortfall this makes it easier for a lender to lend.

Who can act as a guarantor?

Most people can act as a guarantor, such as a friend, family member or a work colleague. However, they must not be your wife or husband. They must have a good credit rating and can be either a homeowner or tenant.

How do I know a guarantor is right for me?

If you are having problems getting a loan because of bad credit or you have a low credit score then a guarantor loan may be a good solution. You must be able to afford the repayments, therefore you must consider your financial budget and living expenses.

How much can I borrow?

Generally lenders will grant loans from £500 - £10,000 over 1 - 5 years. You will also have the flexibility to pay of your loan early or make additonal overpayments.

Can I get a no credit check guarantor loan?

No. You will need to undergo a credit check and so will your chosen guarantor. However, guarantor loans are designed with the poor credit applicant in mind. If you do have some adverse credit or have struggled to get finance before, then a guarantor loan may prove to be a good solution.

Will a guarantor loan enable me to build my credit rating?

Yes. By successfully managing your loan payments and making payments on time you will help to build a positive credit rating and credit score.

Is there a large choice of guarantor lenders on the market?

The guarantor loans market has lots of choice with many lenders providing a similar service and offer similar loans and interest rates.

Some of the lenders on the market include: TrustTwo, Amigo Loans, Lendfair, Talk Loans Georgebanco, MasaLoans, Juoloans, Buddy Loans, UK Credit, Tfsloans , Likelyloans, Bamboo Loans, 1plus1 Loans, Solution Loans

Are guarantor loans suitable for pensioners?

Yes. If you are retired or at pensioner age then you are still able to get a guarantor loan. The lender will take into consideration your age which calculating the loan term depending on how old you are.

Can I get a loan as a discharged bankrupt?

Yes. With the help of a suitable guarantor with a clean credit record you can still apply for a guarantor loan.

I have previous missed loan repayments and defaults can you help?

Yes. With the help of a suitable guarantor who is a homeowner and who has a clean credit record you can still apply for a guarantor loan.

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Rating: 4.6 / 5 with 27 votes

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