What is Loan Genie anyway?
Loan Genie aims to achieve three things (three wishes!):- Wish one lets you research loans, look at the major loan providers, and work out your approach to comparing loans.
- Wish two lets you search our database of UK loans and to compare the most important details.
- Wish three lets you compare your shortlist of loans side-by-side so that you can make an informed choice.
Tell me about loans
Personal loans (i.e. lending money to people, as opposed to businesses) is big business. You can get loans from just about anywhere: banks, utility companies, internet lenders, building societies, and the rest.In fact, there's so many loans that finding the best loan for you can be a bit daunting. We can help you with that bit.
In general terms, you need to choose between two types of loan:
- Unsecured personal loans, which allow you to borrow up to £25,000 and pay the loan back over a maximum of ten years.
- Secured loans, for example homeowner loans, which allow you to borrow up to £25,000 and pay it back over 25 years. Homeowner loans can get you a better APR, but you risk losing your home if you default.
Loan considerations
Spend some time researching your criteria, and always check the loan conditions (the small print) before you agree to anything.The information on this site is all provided for guidance only. The loan company will (or will not) make you a loan offer based on your personal circumstances, such as credit rating, income, age, and so on.
The headline considerations when comparing loans are the loan amount, the APR, and the repayment term. But also look out for things like an early redemption penalty, a deferrment window, and payment protection insurance.
Above all, make use of Loan Genie by shopping around. Have fun, and please don't hesitate to leave us some feedback.