If you’re looking for quick and transparent loan options in the UK, Lendable’s fast loans might be the answer. Lendable offers personal loans ranging from £1,000 to £25,000 with repayment terms from 1 to 5 years. Interest rates start at 8.1% APR and can go up to 48.9% APR, depending on your credit profile. Loans are subject to a representative APR of 24.4%. For example, a loan of £7,500 repayable over 36 months will cost £286.70 per month. All loans are regulated by the Financial Conduct Authority.

How to apply for a Lendable loan

1. Decide how much you wish to borrow
2. Fill in your personal and financial details online
3. Check your rate without impacting your credit score
4. Review the loan offer and terms provided
5. Accept the offer and verify your identity
6. Get your money – funds can arrive the same day

Pros of Lendable Loans

Lendable stands out for its speed – most approved applicants receive funds on the same day. There is no paper involved since the process is fully online and paperless, making it very convenient. You can check your rate before applying without affecting your credit score, which empowers you to make informed decisions.

Additionally, Lendable boasts an impressive Trustpilot score, with over 80,000 reviews and a 4.9-star average. This suggests that most customers have had positive experiences. Security and transparency are also prioritised, as loans are fully regulated by the FCA, ensuring a safe borrowing environment.

Cons of Lendable Loans

On the downside, the interest rates for applicants with fair or limited credit can be quite high, potentially nearing 48.9% APR. This may not be suitable for all budgets. Additionally, a loan fee is included in your repayment schedule and must be considered.

It’s also worth noting that not everyone will qualify for the lowest advertised rate. Lendable offers loans based on individual circumstances, so some customers may receive higher rates or different terms than expected.

Verdict

Lendable’s fast loans are an attractive choice for those needing quick access to funds with clear, upfront terms. Their competitive rates, transparent process, and FCA regulation make Lendable a reliable option for many UK borrowers. Checking your personalised rate without a credit footprint lets you explore your eligibility and costs risk-free.