We have partnered with the lenders below to give you accurate quotes based on their underwriting criteria and your circumstances.
|On 19 February 1997, J Sainsbury began trading as a bank, making them the first major UK supermarket to do so. The Bank of England officially approved Sainsbury’s banking status when they granted them a full banking licence in January 1997. Read more||About Sainsburys Bank|
|RateSetter is a simple concept. Creditworthy borrowers want a low cost loan. Smart investors want a better return. RateSetter match them up and ensure everyone gets a fair deal. RateSetter works on the basis of trust: good, old-fashioned prudence and best practise. All executed in a modern and dynamic way. Read more||About Ratesetter|
|Launched in 2011, Shawbrook is an independent, private equity backed British bank, owned by funds advised by Pollen Street Capital. With four main offices based in Brentwood, Dorking, Croydon and Glasgow as well as smaller offices in London, Manchester, Birmingham, Leeds, Wishbeach and West Malling, Shawbrook has approximately 400 employees. Read more||About Shawbrook bank|
|Moneyway is a trading name of the established UK retail bank Secure Trust Bank Plc. Incorporated in 1954, the main business operations take place from the head office in Solihull, West Midlands, and the company has been a subsidiary of Arbuthnot Banking Group since 1985. Read more||About Moneyway|
|Creation Consumer Finance Limited, along with Creation Financial Services Limited and Sygma Bank UK (together “Creation”), is part of global banking group BNP Paribas and they work in partnership with some of the UK’s most recognisable high street brands. Based in Solihull, Creation’s customer care centre is UK based. Read more||About Creation|
|Established in 2006, Everyday Loans Limited is an independent lender owned by the Secure Trust Bank. Providing a straightforward financial solution for UK borrowers, Everyday Loans Limited arranges local face-to-face appointments with new customers before finalising loans. Read more||About Everyday Loans|
|Established in 2004, 1st Stop offers a range of unsecured loans for homeowners and tenants and second charge mortgages for homeowners. 1st Stop specialises in helping those who are unable, or choose not to borrow from high street lenders. 99% of customers would recommend 1st Stop to friends or family.|
|One of the UK’s leading peer-to-peer lending services, rewarding people who are good with their money by providing low rate loans and high interest returns. Read more||About Zopa|
|The Lending Works is a peer-to-peer lending platform which matches shrewd lenders with creditworthy personal loan borrowers, so both receive a much better deal. Read more||About Lending Works|
|AvantCredit is an online personal loan lender offering unsecured loan amounts of between £1,000 and £20,000. It uses computer modelling and publicly available information to make lending decisions. Read more||About AvantCredit|
Why are you not showing quotes for every lender in the UK?
Our main focus is to offer you a competitive product given your personal circumstances and give you an instant online yes/no decision from our lenders. Not all lenders can give you an answer that quickly. Some don’t have the technology. Some have it but it can’t be used online. As more lenders develop and open up their systems, we will be able to add them to our panel. It is also a fact that there is very little risk differentiation between prime unsecured lenders. We are therefore confident that our panel represents a “whole of market” choice.
How do you make sure you have the best rate?
Some of the best lenders in the UK have been able to join our panel because they have instant online decision capability. Of course, there may be other lenders able to provide different rates — but you will have to try them all to find out! Ultimately, we are an unbiased and independent loan broker and it is key to our success that we carefully manage our panel to make sure that the rates we show are among the best in the market.
Do you guarantee the rates you show?
We determine the rates by combining data provided by you, credit history information from Equifax and criteria supplied by our lending partners. If any information changes between the time we make a quote and the time the loan agreement is signed, the rates may change. If the information stays the same, then the rate quoted is the rate you get (our engine has proven to be over 90% accurate)
Why am I not eligible for a loan?
For both second charge mortgages and unsecured loans, lenders will first look at your credit history and how you have conducted your previous and current credit or loan accounts.
Then, they must consider affordability, which, put simply, means the lender must decide if you can afford the loan based on your income and outgoings.
For second charge mortgages (which by their nature are secured against property), they will also consider the equity in the property against which the loan is secured. This equity is the difference between the value of the property and the outstanding mortgage balance.
Based on the areas of credit history, affordability and equity (for second charge mortgages only) the lender makes a risk assessment of how likely is it that the borrower will repay the loan. If the risk is too high, the borrower will be declined for the loan. If the risk is acceptable, then the lender will (subject to other minimum requirements) make a loan offer.
We cannot provide you with individual reasons for applications not being accepted.
What happens once the loan application has been submitted?
For unsecured loans, the lender will contact you within 24 hours to make the final arrangement for processing your loan.
For second charge mortgages, we will contact you within the next 24 hours to talk you through your options and quotes and let you know what documents you will need to send to us. Once we have received all the related paperwork, your application will be passed to the lender to complete your loan and send you the money.