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Unsecured Personal Loans

Use it for a big family holiday, buy a new or used car
Consolidate other debts
Fixed repayments

Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
Credit subject to status & affordability assessment by Lenders.
LoanTube is a credit broker and not a lender

Our comparison service is free for you to use. Yes it’s free!!

Are you thinking how we make money then? – We receive a fee or commission from lenders whenever you obtain a loan through LoanTube.

3 things you need to know about Unsecured Personal Loans online

Unsecured personal loans are flexible type of finance and three major benefits of this are:

You do not need to have a perfect credit record for a lender to offer you an unsecured personal loan. LoanTube works with multiple lenders, some of them may focus on your current situation rather than on any missed payments that might be on your credit record from three years ago.*
You don’t have to be a big earner to be considered for an unsecured personal loan. If you earn enough and you think you can afford to repay the monthly instalments, you’re welcome to apply. We’d love to process your application.
No collateral or security is required for unsecured personal loans which means you can apply for it irrespective of your residential status. Tenants & Home Owners both are equally eligible for it.

When should you Take Personal Loans?

If you need loan between £100 and £25,000
If you can repay between 1 month to 60 months (Duration depends on the type of loan)
To improve or boost your credit score
If borrowing a personal loan is the last option left in your diary

When should you not Take Personal Loans?

If you do not have any income source to repay
If you have speculative purposes to meet such as investing in the stock market
Do not opt for a loan if you want to invest money to start a new business
If you are taking loans on behalf of others
You should not use an unsecured personal loan to service other debt repayments

FAQs on Unsecured Personal Loans

What should my minimum age while applying for a loan?

Our lenders lend only to customers who are aged 18 or above.

Do I need an active employment status?

Yes, it is preferred by lenders. You need to be in a permanent and paid employment. If you are unemployed, you may not be able to pass the lender’s affordability assessments. The exception is if you have other good sources of incomes like rental income and you can convince lenders that you can afford to pay the loan with those other incomes.

I am bankrupt / I am in an Individual Voluntary Arrangement (IVA) / I am in a debt management arrangement. Can I apply?

People on IVA, Debt Management Plan and on Bankruptcy are considered as negative customers by lenders. It is a sign that you can’t really manage your finances. Due to this, we are very sure we won’t be able to find you a loan if you are on IVA or Debt Management Plan or have filed a bankruptcy in past.

What information will you ask me when I apply?

We will need to know how much you earn annually, your monthly outgoings, employment details, where you’re living and what is your residential status.

Do I need to provide a guarantor for this loan?

No, you do not. We don’t deal in Guarantor Loans.

How long will I have to wait for an answer?

It depends. If we have all the information we and our lenders need, a “yes or a no” answer from lenders who are willing to lend you and the quotes/APRs they want to offer you will be displayed on your screen on a real-time basis.

Are you licensed to lend me money?

LoanTube doesn’t lend you the money- we’re a credit broker and not a lender. As a credit broker, we act as a bridge between lenders and borrowers. We connect you with the lenders (all licensed by the Financial Conduct Authority) who will consider your loan application. Applying through LoanTube means you don’t have to submit dozens of applications individually to each lender to get your loan decision.

How do you know which companies will lend me money and which ones will not?

When we become partners with a lender, one of the first things they do is to send us a list of the types of borrowers they would like to work with. You might be just the type of borrower one lender is looking for but another might not consider you. Our job is to pair you with the right lenders based on the information you give us.

Does that make my loan more expensive? Will I have to pay a higher rate of interest? Will I have to pay LoanTube?

No – to all three questions. You do not pay LoanTube anything for applying and the cost of your loan does not go up. If you’re approved, you’ll pay the lender exactly what you’d have paid them had you approached them directly.

Will you run a credit check on my report?

Yes, we do. LoanTube runs a soft credit check on your name which won’t affect your credit score. But that’s a good thing. Doing so helps us in knowing the right lenders for you even before we pass your details to them. So this way we don’t pass your details to any lender we already know won’t be able to lend you. The more we know about you, the more personalised and more suitable loan deal we can find for you.
Please note that soft credit check does not affect your borrowing capacity.

If I get an offer, do I have to take the loan?

No. You’re never under any obligation to accept an offer that you receive from LoanTube. Even if we say “yes” then you turn around and tell us “no”, there’s no charge for our service.

Why Trust LoanTube?

LoanTube is different. We try to bring you the cheapest possible rates that are available amongst our partner lenders. Although we cannot guarantee that we will find you a lender, you really do have better chances of finding a suitable loan with us because we work with multiple lenders.

How does it work? Our clever computer system compares real-time offers made directly by the lenders. This is all done in real-time and, once we have all the quotes, we will display the offers with their terms and conditions to you.

Taking out Loan and Change of Mind

It is up to you if you want to go ahead and take out of the loan. Please read the terms, conditions, and costs (including APRs and other fees/costs) of the loan to decide whether its right for you. If you accept, a loan agreement will be made between you and the lender but if you change your mind, you can cancel it within 14 days.

Your Quote

In the vast majority of the cases, the quote you see on our offer screen is the quote you get. Occasionally, a lender may need to ask additional questions and do additional checks on your application. Depending on the information you give or they obtain from their sources if that makes your application a significantly riskier, they may change the APRs/quotes of the loan, which could make it more expensive, but you are free to reject such offers. They may also withdraw the offer of a loan.

Our Service is Free

LoanTube’s service is free regardless of whether you find a loan or not, and whether you decide to take up the offer. Under no circumstances, you will pay anything for our services. We receive payment from the lender in the form of a commission whenever a loan is taken out by a customer using our service.

How to Apply

You can apply for an unsecured personal loan with us anytime. It will not take much time to complete our loan application form. To start, click here.

Representative APR example

We compare loans that can be paid back over terms of between 1 month and 25 years. The APR interest rate you will be charged depends on your personal circumstances, and will be between 3% and 299%.

This is a representative example of what it may cost: a Loan of £7,500 over 60 months at 3.3%, APR would equate to monthly repayments of £135.60, and the total cost of the loan that you pay back would be £8,136.22.

Caveats:

*Credit subject to status & affordability assessment.
Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK