Lendable
Borrow between £1,000 and £25,000 with rates from 8.1% APR and fast funding. No upfront fees and transparent process. Authorised and regulated by the FCA.
Lendable offers flexible personal loans for UK residents who are seeking quick approval and payout, combined with clear and fair terms. With loan amounts ranging from £1,000 to £25,000 payable over 1 to 5 years, Lendable’s representative APR starts at 8.1% and reaches up to 48.9% depending on your credit profile.
The application is paperless and doesn’t impact your credit score when checking your eligibility. Funds are often disbursed on the same day. A typical example: £7,500 over 36 months would cost £286.70 per month at a fixed 19.4% interest rate, with a representative 24.4% APR.
Lendable is fully licensed by the Financial Conduct Authority (FCA) and has built a strong reputation for customer service, boasting thousands of positive Trustpilot reviews. The process is designed for speed, safety, and a hassle-free experience with no hidden fees or upfront costs.
How to Apply: Step-by-Step
First, use Lendable’s eligibility checker to preview your personalised rate without affecting your credit score. This gives you a quick idea of the loan options available to you.
Next, choose your loan amount and repayment term. Complete the simple online application form, supplying your details and any required documents as prompted.
Lendable will review your profile using their automated process. If approved, you’ll receive your offer almost instantly. Review the offer’s terms and conditions carefully.
Once you accept the offer, funds are typically paid into your bank account within hours, and sometimes even sooner.
Manage your repayment schedule online and track your remaining loan balance with ease in your account dashboard.
Pros: Fast, Transparent, and Secure
Lendable stands out for its quick approval and nearly instant access to funds. The process is fully online and designed to be stress-free, which is perfect if you need money urgently.
Transparency is a major plus point. You don’t pay any upfront fees and the rates are clearly outlined before you make any decision. FCA regulation adds peace of mind for borrowers.
Cons: Rate Depends on Credit Profile
Although Lendable loans are competitive for many, the best rates are reserved for applicants with stronger credit histories. Some applicants may receive much higher APRs.
Additionally, a loan fee may apply, included in the total repayable amount. It’s essential to review the offer in detail and ensure you can comfortably manage the monthly repayments.
Verdict: Is Lendable Right For You?
Lendable is a solid choice for UK applicants seeking speed, simplicity, and transparency in their personal borrowing. The process is convenient and customer-focused, with clear documentation.
While rates do vary, the up-front eligibility check lets you make an informed decision without risking your credit score. Overall, Lendable is recommended as a user-friendly, trustworthy option for personal loans.
