Applying for a personal loan
If you're looking for a personal loan the uSwitch loan comparison service can provide a free, impartial comparison of loans to suit you.
We search over 67 loans from 48 different lenders so you don't have to. Just fill in one form and we'll match your needs to the best personal loans available.
Read our easy step-by-step guide and see how to find the right loan for you.
What you'll need to have ready
Before you start, decide how much you want to borrow. With uSwitch, you can apply for loans between £500 and £25,000.
Step 1a: Choose a personal loan from our loans top deals table
To compare personal loans quickly, use our best-buy tables. Just enter the amount you would like to borrow and the period you want to pay it back over, and we'll show you a table of our top personal loan deals - pick the loan that's right for you and click apply.
We'll show you a summary of the personal loan you have chosen and ask you for a few details, including your name, address, email and phone number and then redirect you to your chosen provider's website to view and complete your personal loan application.
If you provide your phone number, you will receive a call from our expert loans brokers to discuss your personal loan options. The loans service may be able to find a loan which suits your circumstances better.
Any personal details you give us are protected by encryption software and sent securely to prevent fraud.
Step 1b: Use our full personal loans comparison service.
Alternatively, you can use our full personal loans comparison service for a more in-depth comparison.
Step 2: Tell us how much you want to borrow and how long you need to repay the loan.
The APR on a personal loan can vary depending on how much you want to borrow and how long the loan is for - the shorter the loan term (the amount of time allocated to repay the loan), the more money you save on interest. Always be sure that you can afford the monthly repayments.
The maximum personal loan term you can apply for is 10 years.
For loans intended to pay off other debts such as credit cards, remember you won't have to pay the interest on those debts anymore, so this can come off your budget.
If you have any questions, call us on 0800 404 7968.
Step 3: Decide whether you want Payment Protection Insurance (PPI)
Payment Protection Insurance (PPI) covers your loan repayments if you have an accident, become ill or lose your job and can't pay them.
Our service allows you to compare loans with and without PPI to help you decide whether you want to pay the extra.
PPI isn't right for everyone and has some drawbacks - for more information on PPI, read our background guide to loans.
Step 4: Tell us if you want to be able to apply online.
If you choose to apply for a loan online through uSwitch, all the loans we show you allow you to go through to the lender's website to complete your application.
If you do not select the option to see 'Loans you can apply online for with uSwitch' the results will include all the loans on the market, including those that aren't available through uSwitch.
Step 5: Add your contact details.
We keep your basic contact details so we can help you with any future queries. This information will also be seen by your chosen lender, who may pass it on to a credit checking agency when deciding if you are suitable for a loan.
Your name and telephone number only will be passed on to our loans broker service who will give you a call to help you find the best loan for you.
You can apply online for the personal loan you choose if you wish, but the loans service may be able to find a loan which suits your circumstances better.
Any personal details you give us are protected by encryption software and sent securely to prevent fraud.
Step 6: Click "Continue" for the loans that match your requirements.
Our calculator works out the monthly repayments for each loan and the total amount you will pay back.
The results also show the typical Annual Percentage Rate (APR) and include all the costs involved, such as Payment Protection Insurance (PPI), if you have chosen these extras.
Step 7: See a list of loans and pick one.
Loans are ordered by cost - so the lowest monthly repayment comes first. You can choose to sort them by other criteria, including APR or total amount repayable.
For loans that include online sign-up with uSwitch, click "Apply" to complete your application on the lender's website.
For loans that aren't available online through uSwitch, click "Enquire" for an alternative loan that is either better or the next best match. If you want the specific deal listed in your results, contact the lender directly.
No loans that match your specific requirements? You can amend your details or start the application process again.
Step 8: Complete your online application with your chosen lender.
Your chosen lender will need additional information about your finances, employment status and your partner's situation. They will then run a credit check.
What happens afterwards?
What can you expect after you've applied for your loan online? Here are a few common questions:
I applied for a loan online and then got a call from the uSwitch loans broker. Why is that?
Choosing a personal loan is an important decision. We believe you should have the best advice to help you make it. To help you find the right loan, our expert loans broker will give you a call to discuss your requirements. They have access to many loans, some of which are not available directly through the uSwitch website, which may be better for your personal circumstances and borrowing amount.
If you need any help at any stage of your application, call uSwitch on 0800 404 7968.
How long will it take for the lender to confirm that my application has been successful?
They should be in touch within a week or so, once they've done a credit check.
I've been turned down by a personal loan lender. What can I do?
You may not be eligible for a particular loan, but sometimes the lender will offer an alternative with a higher interest rate. To see if you can find a personal loan with another lender, do another comparison.
Your credit rating is a key factor in whether or not you are accepted for a loan. Check your credit rating online now.
I've noticed that my personal loan is being referred to as an unsecured loan. Why is that?
They are one and the same. Both personal loan and unsecured loan refer to a loan that is not secured against any property (home or car). A personal loan is given on the basis of your credit rating.
Am I allowed to repay the full amount before the end of the loan term?
Yes, although some lenders will charge you. Read the small print and look out for the terms:
- early repayment penalty
- early redemption fee
- redemption charge
- financial penalty
When you compare loans with uSwitch, you will be able to see which providers charge for early repayment.