Considering home improvements?
Spreading holiday costs?
Hit with unexpected expenses?
A loan is a type of credit, usually a sum of money that is borrowed and expected to be paid back over an agreed period of time with interest. When it comes to keeping your financial plans moving, a little boost can make all the difference. A loan could be useful if you need help to reach a goal – whether you’re looking to buy a new car, renovate your home or deal with some existing debts. We can help find the right loan for you. Our eligibility checker shows you your chance of being accepted, as well as the guaranteed rate, so you can see your options before you decide on a deal.
Supacompare is a credit broker, not a lender – this means we’ll show you products offered by lenders. You must be 18 or over and a UK resident.
Also sometimes called ‘personal loans’, unsecured loans can typically allow you to borrow up to £25,000 without putting up something valuable as security. However, you’ll still have to be sure that you can afford the repayments.
A secured loan requires you to put up something you own as collateral – in the case of a homeowner loan, your property. You can borrow larger sums of money with this type of loan, but if you can’t pay it back you could lose your home.
With a guarantor loan, someone agrees to make the repayments if you’re unable to. This could work for you if you have bad credit or no credit history, but if you don’t pay it back it could damage your relationship with your guarantor.
This type of loan is specifically aimed at borrowers who have a poor credit history. While bad credit loans offer a way to rebuild your credit score, they don’t tend to offer the best loan rates. A bad credit loan interest rate will usually be much higher than average.
You can use a loan for a range of purposes, including:
It’s important for you to work out what your loan will cost you in terms of monthly repayments over the term.
Whether you’re looking to take a £5,000 loan or even £15,000, our loans calculator can help you work out how much you can afford to borrow by entering how much you can afford to pay back each month and the length of time you can afford to pay that amount (and at what interest rate.)
It’s worth noting that smaller loans tend to have higher interest rates, which can affect the affordability of your loan - so if you take out a loan over a longer term you should be able to bring the repayments down.
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