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Our Variety of Loan Options

There are many kinds of loans to choose from and it can be very hard to know which one will suit you best.

Don’t worry though, we have a dedicated team of experts on hand all day every day so if you do apply toward the wrong kind of finance or we think something will suit your needs better then we will let you know right away.

We are completely dedicated to making sure that you get the right plan to fulfil you needs.

As mentioned the list of loans is quite a long long, but we have tried to group them up to make the decision process a lot smoother and easier on you. Here are some of the categories:

  • Personal Loans

Theses are like payday loans and are nearly always unsecured.

  • Term Loans

Stretching over a specific period of time, these are often mixed with other kinds.

  • Debt Consolidation

Designed for those that owe several different companies different amounts. You will be able to better control your finances.

  • Logbook Loan

Usually for getting a vehicle but sometimes just using an existing vehicle as collateral.

  • Guarantor Loans

For those that have a friend or family member able to back them up if they have trouble paying the instalments.

  • Bad Credit or No Credit Check Loans

Made for those with bad credit history, even those that have been blacklisted can apply for this variety.

  • Direct Lenders

This means that you are getting the money direct from the one lending it, cutting out the usual middlemen.

  • Fast, Quick or Same Day Loans

Meant to be the quickest form of finance for those that are in a rush to get the money they are applying for.

Representative 305.9% APR. Representative example: £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

Loanload is a credit broker and not a lender. We pass your information to a lender once you have been accepted for a plan. We take a fee from the lender only, once you’re approved and we do not add charges to your plan in doing so.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadvice.org.uk

Loanload.co.uk is a registered trading style of Serpable Ltd, which is an Introducer Appointed Representative of Quint Group Limited and is entered on the financial services register under the reference number 780328. Quint Group Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 669450. Serpable Ltd is registered in England and Wales (Company number: 10699069), Registered Office, 17 Collingbourne Avenue, Bournemouth, Dorset. BH6 5QR.

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Consolidation Loans

Dealing with multiple debts can be a struggle. It can be difficult paying them off especially when you have to divide your money among several different credit cards and loans. To help make your debt payments easier, you may want to consider a debt consolidation loan.

A debt consolidation loan allows you to combine all your debts into a single loan with a much lower interest rate, leaving you with only one monthly payment. You can benefit from this loan when your existing loans have high interest rates. Other ways to consolidate debts include transferring the debt to a zero or low-interest credit card, applying for a home equity loan, or paying back your debt through a debt repayment plan.

Combining your debts helps you lower your monthly payment and makes it easier for you to afford your monthly bills. There are different types of loans you can use to consolidate your debt.

One way to consolidate your debts is through a home equity loan, which is a loan that utilizes the equity in your home as collateral. To be eligible for this loan, you must have a fair amount of equity in your home and good credit. The interest rates may be lower than other types of loans, but your home is now on the line for your debt. If you fail to make payments, you face foreclosure on your home.

You may also opt for credit card balance transfers, where you transfer your credit card balances onto a single credit card, ideally with a zero or low-interest rate. Low balance transfer interest rates are promotional rates that usually expire after a minimum of six months.

If you choose this type of consolidation solution, make sure you know when the low rate will expire. Know when the regular interest rate that will take effect for the remaining balance. If you want to use a credit card balance transfer as a consolidation loan, you will need a credit card with a credit limit that is large enough to hold all your credit card debt.

However, putting too much debt on one credit card could have a negative impact on your credit score as your credit utilization goes up. The good news is that your credit score will rebound as you pay down the balance.

Personal loans can also help you consolidate your debts if you can borrow a loan large enough to cover all your balances. This sort of loan is an unsecured loan that has fixed payments over a fixed period.

Getting a personal loan approval greatly depends on your credit rating. If you have a poor or bad credit score, you may get an approval, but at a higher rate of interest. In some cases, the borrower cannot get a loan approval at all. Taking a high interest rate personal loan would let you combine your debts, but you may not save money.

There are also debt consolidation loans offered by banks and credit unions for the sole purpose of combining your debts. Debt consolidation loans may vary, so it is important that you choose wisely. These loans have a lower interest rate than the rates you are currently paying for your existing debts.

By increasing the repayment period or the loan term, you can achieve the lower monthly payment. This could mean that you pay more interest overall because of the longer repayment timeline.

Understand that with any type of debt consolidation loan, you are not really getting rid of your debt. Instead, you are simply shuffling it around so that it becomes easier to pay. At some point, you may feel like you have less debt and may be tempted to borrow more. Practice discipline and avoid borrowing until after your debt consolidation loan is completely settled.

Consolidation Loan for Bad Credit

If you are struggling with debt as most people are, you may be looking for a solution to pay off your debts and get back on track financially. Debt consolidation loans for people with bad credit are one the most viable solution to get out of your financial misery. However, you may be wondering where to look if you’ve been turned down by your bank or credit union.

Do not lose hope because there are choices for you regardless of your credit history and financial situation. The more you understand the differences between many debt relief options, the more likely you are to make a smart decision and get on the road to financial freedom.

Many people looking for debt consolidation loans with bad credit profiles usually contact their bank or credit union first. It may be a sensible thing to do business with an institution that you already know and trust, but you may be disappointed if your bank or credit union will turn down your loan application. Banks and credit unions offer a variety of traditional loans and other products, but they usually do not provide debt consolidation loans for people with bad credit.

Banks and credit unions often use a risk-based pricing model, which means that the bigger the risk they think you are in terms of repaying the loan, the higher the interest rate they will charge you. Even if you get a loan approved, you could end up paying more in interest and fees than someone with better credit.

Therefore, if you are approved for a loan at a high interest rate, or you are denied a loan because of your credit, keep in mind that there are plenty of other options for debt consolidation loans for bad credit. Just keep doing your research and contact other lenders and debt relief companies before signing any paperwork.

Consolidation Loan with Guarantor

There are different financial institutions to get a financial assistance, but not all of them deal with your bad credit. In most cases, neither banks nor credit unions will give you a debt consolidation loan, if you have bad payment history and your outstanding debt is too high. One alternative for you is to get a guarantor or co-signer for your loan.

Guarantor loans are the most affordable type of loan for those with a poor credit rating. Representative APRs of loans with a guarantor are currently ranging from 39.9% to 45.9%. However, they are also difficult to qualify for because you need to find a guarantor with a good credit rating and because of the risk involved. It’s not easy to find a guarantor who is willing to pledge responsibility to pay your loan if you fail to pay it yourself.

Guarantor loans are the cheapest option for debt consolidation, so there is no excuse you cannot keep up with the payments. It is a chance for you to pay off your debt easily. By using this loan to consolidate debt and making the regular repayments, you may be able to improve your credit score gradually. Prove that you have the financial ability to repay loans and other bills on time.

Consolidation Loan Direct Lender

Choosing a lender for a loan can be a bit challenging if you want to get the best deals. If you want to compare multiple lenders at once, you may contact a broker to assist you. However, there might be some extra fees involved. You’ll also have to wait for the lender’s response.

On the other hand, if you want to make the search by yourself, you may approach direct lenders. This way, you can get a response right away. In case you’ll be turned down or if the interest is too high for you and the terms do not suit your financial situation, you can look elsewhere right away. Just be mindful to get a soft inquiry instead of the hard inquiry, so that your credit record will not be affected.

Instant Consolidation Loan

Many lenders in the UK have already taken advantage of technology and online banking. Online banking services of these lenders provide the ultimate convenience needed by consumers. These lenders work outside office and banking hours. As a borrower, you don’t need to fill out lengthy forms and prepare many documents to get a loan approval.

With online lenders, you can process your loan application remotely at any time. It will only take you minutes to apply and get an instant feedback. Once you get an approval, the funds you requested will be transferred into your bank account within hours. These loans are called instant loans or quick or fast cash. Others use the term same day loans because you could literally get the funds within the day.

Consolidation Loan with No Guarantor

If you cannot find someone to co-sign your loan, you’ll find many other private lenders offering consolidation loans. These lenders focus on offering debt consolidation loans for people with bad credit, as well as those with average or better credit profiles.

Debt consolidation loans with no guarantor typically use a risk-based pricing model similar to banks and credit unions, so the interest rate you pay is based on your credit rating and ability to pay back the loan. As a result, the interest rate will be higher than that of a loan with a guarantor and a loan for people with good credit score.

The good lender will offer you several different debt consolidation loans for bad credit profiles. There is no such thing as a one-size-fits-all approach because each person or borrower has a unique financial situation. Take your time to compare and think about the impact of the loan you will be taking to your monthly expenses.

Majority of debt consolidation loans are only available to homeowners, but there are other loan options that could help you save you money if you do not own a property. If you decide to get a consolidation loan without a guarantor, make sure the lender will show you multiple options, and that you understand how each works, how much you’ll pay every month, your interest rate and if there are any fees involved, and how quickly you can pay off the loan.

Consolidation Loans in the UK

Debt consolidation loans in the UK are very similar in comparison with loans in other countries. You can obtain these loans by using the equity in your property as collateral to secure the amount of money you will borrow. This money is used to end your more expensive high-interest debt. Moreover, these loans are most often used to combine financial obligation from credit cards, personal loans, and other unsecured credit instruments.

One of the more favourable characteristics of debt consolidation loans is that they are quite easy to get, even with credit that is not so impressive. You may get an unsecured loan if you are not a homeowner. Another common way to get a lower interest rate on a loan is to add a co-signer who will also be responsible for the loan if ever you are not able to make payments anymore.

You can get these loans from banks and credit union if you have a clean credit history. Otherwise, you may approach private lenders who are specifically catering to people with bad credit. There are also many online lenders in the UK offering instant loans or fast cash for debt consolidation.

The amount you can borrow, however, varies according to the lender. Same goes for the interest rate and the loan term. These factors may differ according to your personal circumstances and the lender’s policies and requirements.

Factual Tips

To find the right loan for your needs, work out how much you need to borrow. Add up all the debts that you would like to consolidate and include any extra charges you have to pay them. Decide how long you need to pay it back and look for the lowest interest rate, if possible.

Remember that a consolidation loan is supposed to help you pay off your debts easily and quickly. You have other obligations and concerns in your life besides settling your debt. If your chosen debt consolidation loan becomes a burden instead of making your life easier, you better get another creditor.

5 most recent personal loan reviews

Review of Loans Warehouse

They really helped me when I needed it most. Wanted quick cash to pay for a one-off purchase and had an issue with my address for credit. Without Warehouse to help, I do not know how I would have gotten by till the next pay day. I am truly grateful to them.

Review posted by Oluwaseun Ahuja, Hereford

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Portman Finance

Excellent customer service from the team. Quick pay out. Would recommend 100%. Keep up the good work. Always keeping you up to date about the process of the loan.

Review posted by Tanashia MacRae

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of North London Credit Union

Was really happy how you dealt with the loan really fast. Couldn't fault your staff they were really helpful and friendly. Would recommend u to anyone. Don't normally write reviews but thought your staff desired a thank u for all there help. Highly recommended guys x 👍

Review posted by Lynn Fenlon, Hull

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
All reviews are sourced from TrustPilot.com to guarantee authenticity.