You can compare our loans to other short term lenders.

Personal Loans

Looking for an alternative to traditional personal loans? Lending Stream offers short term loans of up to £1500 that can help you manage unexpected expenses. If your application is approved, we will send the cash to your bank in 90 seconds.

How much do you need?

£
£ 50
£ 1500

Cost of Credit:

Duration

6 months

Amount Borrowed

£550.00

Total Interest

£

Monthly repayable

£

Representative 1333% APR

Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.

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

Personal loans? The Lending Stream answer

Fast

Cash sent to your bank in less than 90 seconds, once approved.

Convenient

24/7 simple & online application. Instant decision. Direct lender since 2008.

Affordable

Repay over 6 months. Pay off early with no extra fees and save on interest.

Trusted

Rated Excellent on Trustpilot. 99% Recommend us on Reviews.co.uk

Representative 1333% APR

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

Lending Stream is FCA Authorised

Lending Stream has been helping customers in the UK since 2008. Since then, we have helped over 1 million people with their financial needs by lending over 4 million loans. We’re an FCA authorised and regulated direct lender, with authorisation number 689378. Responsible lending is our biggest priority, and we want to make sure our customers` experience is great.

We believe in ensuring that you are fully informed about the costs, fees, and repayment terms of our loans. To achieve this, we have taken great care to present all charges, including interest rates and fees, upfront. No hidden costs or unwelcome surprises - everything is clear and easy to understand.

What is a personal loan?

What is a Personal Loan

A personal loan is a type of borrowing that individuals can borrow from a bank, credit union, or online direct lender for various purposes. Personal loans can be either secured or unsecured. Secured personal loans require collateral (such as a car or home). While unsecured personal loans do not require collateral but may have higher interest rates.

Usually, you can borrow between £1,000 and £25,000 with a personal loan, although loans for as much as £50,000 are sometimes available. These loans are generally paid back over a period of between one and 10 years in regular fixed payments or monthly instalments including interest.

At Lending Stream, we offer short term loans from £50 - £1500 (up to £800 for first time borrowers), with a repayment period of 6 months. If approved, you can use your loan to cover unexpected bills, repairs, and emergency expenses.

How do personal loans work?

Personal loans work by providing you with a lump sum of money upfront, which you then repay over an extended period of time. The repayment period of personal loans often ranges from one to 10 years or even longer. The repayment amount includes the loan amount, interest rate, and additional fees (if any). The interest rate is often determined by your credit rating, loan amount, loan term, and lender’s criteria. It can be fixed or variable.

A fixed-rate means your monthly payments stay the same throughout the loan term, while a variable rate can change. It's crucial to understand these terms before accepting a personal loan.

If you're looking for an alternative to conventional personal loans and shorter repayment periods, a short term loan might be right for you. Apply with us for an instant decision for a short term loan of up to £1,500 (£800 for first time borrowers) with 6 months to repay.

Representative 1333% APR

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

How do I check my eligibility for personal loans?

To be eligible to apply for a personal loan, you typically need to be at least 18 years old and a UK resident with a UK bank account. Beyond this, your eligibility for a loan will usually depend on the criteria of individual lenders.

However, if you are looking to apply for a short term loan with Lending Stream, you must:
  1. Be a UK resident
  2. Be at least 18 years old
  3. Have a valid debit card
  4. Have an active bank account
  5. Be in regular employment with a monthly income of at least £400

We might ask you to show proof of your income during our application process. We do this to see if you can afford the loan repayments.

Representative 1333% APR

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

How to apply for a personal loan alternative with Lending Stream?

Lending Stream offers an alternative to personal loans. If you'd like to apply for a short term loan with us, fill out our online application form and give us the following information:

  1. Choose the amount that you want to borrow with us
  2. Fill in all your personal details
  3. Provide us with your employment, salary, expenses, and banking details

Once your application is received, we'll run a credit and affordability check on your profile. If approved, we will send the approved amount to your bank within 90 seconds.

Representative 1333% APR

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

What can I use a personal loan for?

What can I use a personal loan for

Personal loans can be used for a variety of purposes. Some common uses include:

  1. You can use a personal loan as a debt consolidation loan. A consolidation loan combines multiple debts into a single monthly payment, often with a lower interest rate.
  2. For large purchases, such as a car or home improvements. A personal loan can help spread the cost over a longer period, making these big-ticket items more manageable.
  3. Unexpected expenses, like medical bills or emergency repairs. A personal loan can provide the funds you need quickly, allowing you to handle the situation without added stress.

However, short term loans can help you manage unexpected expenses, bills, repairs, and emergency expenses with up to 6 months to repay.

It's important to use the funds responsibly and ensure you can comfortably afford the repayments before borrowing.

How much can I borrow with a personal loan?

Different lenders offer varying loan amounts, but personal loans can range from £1,000 to £25,000. The amount you are eligible for will depend on several factors. For example, your credit score, income, and the lender's criteria.

If you are looking to borrow a smaller loan amount for short-term use, a short term loan might be better suited. When you apply for a short term loan with Lending Stream, you may be eligible to borrow up to £1500 (£800 for first-time customers). Once you complete your loan application, we’ll make a decision in seconds. If your application is approved, we'll send the funds to your bank within 90 seconds.

Representative 1333% APR

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

What if I can’t repay my personal loan?

If you find yourself unable to make your monthly repayments, contact your lender as soon as possible to discuss your situation. They may be able to offer a solution.

It's important to note that failing to repay any loan can have serious consequences. Late or missed payments can negatively impact your credit score, making it harder for you to get credit in the future. In extreme cases, you may face county court judgments or declare bankruptcy.

If you're struggling to repay a loan you've borrowed from Lending Stream, please get in touch with us as soon as possible.

What if your payday loan application is rejected?

If your payday loan application is rejected, don't panic. Identify the reasons for rejection and work on improving those aspects. You can also explore other lending options, including credit unions or other online direct lenders.

What are the alternatives to personal loans?

1. Credit cards

These can be a good option for smaller, short-term borrowing. Some offer interest-free periods, but rates can be high after this period ends.

2. Guarantor loans

Here, a friend or family member agrees to cover your repayments if you can't. This can help if you have a poor credit rating, but it's a big responsibility for the guarantor.

3. Payday loans

These are short-term, high-cost loans, typically for small amounts. They're called payday loans, as they're designed to be repaid on your next payday. While they can provide quick access to cash, they come with very high interest rates and charges, making them a costly form of borrowing.

4. Personal line of credit

Unlike a traditional loan, a line of credit allows users to borrow and repay funds on an ongoing basis, with interest incurred only on the amount used. A personal line of credit can provide a safety net for financial fluctuations, and its revolving nature means that once repaid, the credit becomes available again.

5. Joint loans

A joint loan is a credit agreement made between two or more borrowers. All parties involved are equally responsible for the loan repayments, and the loan appears on all borrowers' credit reports.

What are the advantages of personal loans?

  • Flexibility: Unlike some other types of loans that are specific to certain purposes, personal loans provide flexibility in how you use the funds.
  • Fixed repayments: Most personal loans have fixed interest rates, meaning your monthly repayments stay the same throughout the loan term. This can make budgeting easier.
  • Potentially lower interest rates: Personal loans often have lower interest rates compared to other forms of borrowing, such as credit cards or payday loans. If you have good credit, you may qualify for even more favourable interest rates, which can save you money over the life of the loan.
  • Quick access to funds: Depending on the lender, some might offer quick access to cash, allowing you to address your financial needs.

What are the disadvantages of personal loans?

  • Fees and charges: Lenders may impose various fees, such as origination fees or prepayment penalties, which can add to the overall cost of the loan.
  • Risk of debt cycle: Taking on additional debt without a clear repayment plan can lead to financial strain and a cycle of debt accumulation.
  • Impact on credit score: Late or missed repayments can negatively affect your credit score. This can make it more difficult for you to get loans with better interest rates in the future.

When is taking a personal loan a good idea?

A personal loan may be a good idea for consolidating debts, paying for emergency expenses, home improvements, or large purchases. It can also help you build or improve your credit. However, careful consideration of interest rates, repayment ability, alternative options, and alignment with financial goals is essential.

Contact us - Lending Stream

If you already have an account with us, you can log in and chat with us through there. Otherwise, you can get in touch on our contact us page. If you prefer you can give us a call on 0203 808 4440#. We’re open from 9 am to 6 pm Monday to Friday, and 9 am to 1 pm Saturdays.

FAQs - personal loans

  • Yes, you can, but it may be challenging. To get a personal loan with bad credit, you can apply online with a reputed and FCA-authorised lender. Make sure to research different lenders and compare the interest rates and terms before applying. Lending Stream can help you get a short term personal loan of up to £1500. We even consider people with bad credit.
  • Some personal loan lenders in the UK may offer you a loan with no credit check. However, most reputable lenders will not give out a loan without a check, so it's important to check if they are authorised by the FCA.
  • A secured loan requires collateral, such as a house or car, which can be claimed by the lender if you fail to make repayments. An unsecured loan doesn't require collateral but usually has higher interest rates.
  • There is no predefined credit score that will guarantee you get a personal loan in the UK. However, a better score can improve your chances of getting the best personal loan rates.
  • When you apply for a personal loan, the lender will perform a hard credit check, which can temporarily lower your credit score. However, making regular, on-time payments can help improve your score over time.
  • Yes, in many cases, you can repay your personal loan early. However, it's important to check the terms and conditions of your specific loan agreement, as policies can vary among lenders.
  • Yes, it's possible to get a low interest personal loan. However, various factors, including your creditworthiness, financial situation, and the policies of the lending institution, influence the interest rate you are offered.  
  • Yes, it is possible to get a cheap personal loan in the UK. However, the interest rate and eligibility criteria may vary depending on factors such as your credit score, income, and loan amount. It is recommended to compare different lenders and their offers to find the best option for your financial needs.

We don't offer loans under 60 days. We offer 6 or 12 month loans. The maximum repayment period is 12 months. Maximum APR 1721%.

Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.

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