Borrow up to £25,000 With The Best Personal Loans
Personal loans are the most common types of loans in the UK and are used for everyday purposes including holidays, paying bills, travel expenses, home improvements and more.
When you compare personal loans with Lending Expert, you can borrow up to £25,000 over 1 to 7 years, with no guarantor required. Your eligibility is based on your income and credit history and you are not required to use anything as security since all loans are unsecured.
If you are a strong candidate, you could receive the lowest rates across the entire loans market, starting from just 2.9% APR.
Lending Expert offers a simple price comparison table, giving you access to the full personal loans market including the loan amounts, rates and terms.
Simply select the lender of your choice and click on ‘Check My Eligibility’ where you will be taken to their website and can complete an application in under 5 minutes. You will usually receive an immediate decision and if successful receive funds within 24 to 48 hours or sometimes the same day of applying.
Key Features of Personal Loans
- For personal use
- Borrow up to £25,000
- Repaid over 1 to 7 years
- Repaid in monthly instalments
- Rates from 2.9% APR
- No fees for applying
- No guarantor required
- Funding available in 24-48 hours
How Much Can I Borrow With a Personal Loan?
The best personal loans are available up to £25,000, with some lenders offering loans for £50,000 or higher.
Personal loans are types of unsecured loans, so you do not need to put down anything as collateral or a valuable asset such as your car or home to be eligible.
Instead, the amount you can borrow is based on your income, credit status and your outstanding debt. So the higher your income and better your credit score, typically the more you can borrow, assuming you do not have too much debt outstanding.
Lenders will carry out affordability measures to match the perfect amount you can borrow without falling into financial difficulty.
What is The Eligibility Criteria for Personal Loans?
- Over 18 years of age
- Full-time UK resident
- Employed and able to afford repayments
- Valid UK debit account, mobile and email address
- Good or fair credit score
- No guarantor required
- No security or collateral needed
Your loan may be subject to status and depending on the selected lender, you may need to provide proof of income with a payslip or bank statement.
Are Personal Loans for Bad Credit Available?
Yes, customers can apply for personal loans for bad credit histories and depending on the lender, this might be reflected in a slightly higher interest rate charged or lower amount that you can borrow.
If you are looking for a personal loan for very poor credit, you may be required to add extra security to your application such as using your car or home as collateral or applying for a loan with a guarantor.
How Do I Get The Best Personal Loans Rates Possible?
The fees charged for personal loans will depend largely on your credit score, with customers with the best credit scores able to access low personal loan rates from 2.9% APR and bad credit histories will usually pay higher rates to reflect the extra risk.
The personal loan lenders that we work with will have different eligibility requirements and you may find that the best rates are available for homeowners or those with low outstanding debts or no other loans outstanding.
However, all the personal loan examples are shown as ‘representative APR’ which is only eligible to 51% of successful customers, so you could always pay higher or lower depending on the criteria.
The terms offered by lenders can vary and also based on how much risk they are willing to accept at that point in time. Depending on the criteria and the lender, two very similar customers could receive different rates.
Does Lending Expert Work with Personal Loans Direct Lenders Only?
Yes, we work with over 50 direct lenders so you have peace of mind that you can apply for a loan directly on the lender’s website.
We review every lender and their processes before they are listed on our trusted price comparison tables. Lending Expert is here to help find the best personal loan for you – and you can be rest assured that you will not be charged any fees and applying will not affect your credit score.
How Soon Can I Receive My Loan?
Personal loans can typically be funded within 24 to 48 hours, since most applications are pretty straightforward. Lenders are able to run a series of automated checks to determine your eligibility for a loan and how much you can borrow. In some cases, they may request proof of identity, income or bank statements or require a quick phone call to confirm some details.
To get a fast personal loan, make sure that you give accurate information and are available to by email or phone to respond to the lender.
Apply for a Personal Loan Online with Lending Expert
Lending Expert can help you compare personal loans and get the best deal possible, according to your requirements.
With our price comparison table, you have a list of trusted and active lenders who are looking for customers just like you. Use our table to find the right lender for you based on your desired loan amount and duration. Simply click on ‘Check My Eligibility’ next to your chosen lender where you will be taken directly to their website where you can apply.
Our personal lenders will usually give an instant decision on the screen and if successful, customers can receive funds within 24 to 48 hours or the same day they apply.