Our lending amounts: £100 – £5,000
Borrowing periods: 1 – 36 months
Representative APR: 279.5% | Representative Example: Loan Amount: £300 | Borrowed for 60 days | Total Repayment: £420.82 in 2 monthly installments of £210.41 | Interest Charged: £120.82, interest rate 120.8% pa (Variable).
With the availability of online loans, the world of finance is at your fingertips.
Finding the best rates and a trustworthy lender could take hours of research online – or it could take just a few minutes.
Here at LoanBird, we offer access to the best online loans in the UK. We provide you with all the benefits of a broker, with none of the cost. Our FREE service compares the best online loans from direct lenders so you can be sure you’re getting the online loans with no credit checks upfront. Use our simple online application today!
What to expect from an online loans experience
Why Should I Choose an Unsecured Online Loan?
There are so many types of unsecured loans and credit available online. Unsecured loans do not require the customer to use an asset (e.g. Car/House) to secure the loan. We only deal with unsecured online loans, so there’s no need to risk losing any assets that you have invested so much time and money into.
- Building your credit – As long as you stick to your monthly direct debits and repayments, an unsecured loan can be a major positive on your credit score.
- Home improvements – You have finally secured the purchase of your abode and it is in desperate need of a face lift. Home improvement loans can provide a short or long term solution for those interior or exterior improvements.
- Guarantors – You don’t need to have a guarantor against an unsecured loan, however, if your credit score is below average, one may be required. Most lenders provide this as an option to help you with the loan you want.
- Weddings – A day which is very important in our lives and let’s not forget, costly. The day needs to be perfect and memorable, and an unsecured loan can offer some support through that ever-growing bill.
- No assets to secure lending – Personal and short-term payday loans mainly work on affordability. So as long your monthly income stays healthy this acts as security to the lenders, so you don’t have the worry of needing to secure an asset against the loan.
Unsecured Loans with Loanbird
This is probably the most popular loan option out there; they’re commonly used around the globe. We give you free ride on our service, offering a variety of unsecured online loans designed to provide the best possible options.
Why Do You Only Offer Loans Online?
We’ve been involved in the online financial sector since early 2015. We specifically chose to provide online loans in the UK as we believe it’s the most time effective business model. Online borrowing gives you a variation of loans at your own leisure, at any time. We only work online as its a much more efficient and convenient way of lending to customers.
Are Online Loans Easy to Get Accepted For?
In the financial lending industry, your credit rating is your CV to the lender.
In the same way, an employer will assess a CV, a lender will assess your credit rating. This can often be a tireless search process before you find a lender that will offer you the loan you want.
We supply you with a free and immediate access to all our lenders. This gives you more options even if you’re struggling with your credit score.
Why Choose Online Loans in the UK?
Have you overspent on your monthly financial income or have too many outgoings? There are many situations where everyday occurrences demand instant financial attention.
Customers who require online loans in the UK will expect the money as quickly and effectively as possible. That’s why we are passionate about providing the best possible journey for every customer with immediate helpful options. Please be assured that our online loan terms are always transparent and we won’t have you waiting around for an answer.
LoanBird always aims to deliver a decision in minutes.
What Should I Check Before I Apply for Online Loans?
You can opt for a loan to cover various needs, from a holiday to purchasing a car. There are a variety of online loans each suited to different needs and circumstances. Understanding what online loan is right for you and how it works is the first step to borrowing responsibly.
Online loans are financial contracts to which the lender agrees to provide the consumer with a particular value of money. The money is to be paid back monthly over a set period of time. There’s always a set amount of interest on your repayments which you need to be mindful of. The terms and conditions of an online loan in the UK will differ from lender to lender.
Do your homework
When you’re applying for online loans, you should always ensure you know how much you want to borrow. It is always important to understand what your affordability when entertaining a repayment system. Also, never use a loan associated company who charges upfront fees for their service.
Change of heart
You always have a cooling off period with any lender. A cooling off period gives you the option to change your mind if need be. Please see your lenders terms and conditions for further information.
A Cooling off period is usually a minimum of 14 days.
It is essential that anyone taking out a loan online is well informed and experiences a process of complete transparency. All of our lenders are fully FCA authorised in order to provide online loans. They all take conscious part in treating the customer fairly at all times.
Why Are Loans Online So Popular?
We’ve talked a lot about convenience, and that’s why really. Also, as they are the smallest type of online loans available, payday lenders are quick to give these loans out. The majority of people that apply for online payday loans put them to use for unexpected eventualities, usually for bills that have to be paid instantly.
The term ‘payday’ was put together to bracket a type of short-term lending, which can offer financial support until the next payday.
The History Behind Payday Online Loans
Short-term lending has been around for many years, traces of this lending option dates all the way back to the late 1800’s. This worked in the way that workers would take out loans before their payday.
Before today’s banking, having access to overdrafts was limited, so a smaller loan was sometimes needed to pay bills.
Today, the payday market is more diverse with many other lending options such as pawnbrokers, online loans and commercial lending. Pawnbrokers have become increasingly popular over the years with many individuals using personal items as collateral for the loan. Online UK lending figures are on the rise with around 10 million payday loans taken out each year.
Payday loans are usually borrowed for a maximum of 30 days. This normally means the customer uses this loan option until the end of the month or ‘payday’.
Need a guarantor for your online loan?
You have probably heard of amigo loans, well they switched their sole focus from payday to guarantor loans online a few years back. As a business decision it was a wise one.
As long as the guarantor is eligible they will be able to act on behalf of the individual in need of the loan. The guarantor effectively provides a plan B for the lender in case the borrower can’t repay the loan.
Lenders usually won’t need to contact the guarantor as long as the borrower keeps up with each monthly repayment. The only time the guarantor will be contacted is if the loan falls into a state of arrears. A guarantor will always share responsibility with the borrower on the full repayment of the online loan.
If you want to read more, check out our article on guarantor loans. Or if you want to apply with a guarantor lender online, just fill in our application form – we work with most of them!
How Instant Is Same Day Cash with Online Loans?
Most of us have expectations when being provided with a service. The efficiency of any service plays a key part in the conclusion of our satisfaction rating. For example, if you are eating in a restaurant you would expect the food quickly, nobody likes waiting around.
With LoanBird, you can apply swiftly for any type of online loans. Having a high success rate with our loan applications explains how we normally get the funds to you on the same day. In most cases, we have delivered funds to our customers in minutes from the lender’s application acceptance.
Our application and search process is one of the quickest in the country, finding more than eight out of ten applicants online loans in the UK.
Any unsuccessful applicants will still be notified on the same day of application. If we cannot provide you with one of our online loans, we may advise other options to assist you in your search.
Find the Best Online Loans with LoanBird
When you’re looking for online personal loans, you’ve come to the right place. LoanBird is an online broker, offering pre-approval for online loans with no credit checks affecting your credit history.
Without expensive shops to maintain, we’re able to offer our services completely FREE to you. Many of the online loans from direct lenders we partner with are also online only companies who are also happy to pass on their savings to their customers. When you borrow money online, you’ll almost always get a much better deal than you would with a high street lender.
At LoanBird, all of our online loans are unsecured, meaning you don’t have to risk losing valuables such as your home or car to get great deals in the UK. You can also be assured of fixed interest rates with no surprise increases midway through your loan term. This makes it easy to factor the repayments on your online personal loans into your upcoming budget.
And what’s more, if you need help, we are only a quick tap of the keyboard away. We at Loan Bird uphold honesty and transparency as we want all customers to feel reassured in our service. The door is always open for you to contact us.
Online Personal Loans and More
There are so many types of loans that let you borrow money online, and it can get a bit confusing.
Depending on how much money you need to borrow, what you need it for and how long you need to pay it back, you might find that an online personal loan or a payday loan is better suited to you. If you don’t have the best credit history, a bad credit loan or guarantor loan could be your best option. In an emergency, a same day loan could help you get the money you need quickly.
Thankfully, you don’t need to spend time deciding which route to go down. Our quick and easy application form for online loans in the UK will match you with the best loan type for your needs.
You’ll be able to apply for online loans up to £5,000 and repay them over a period of up to five years. We give you complete control to choose the loan that works for you and your budget, giving you a higher chance of being approved for your loan and getting the money you need quickly.
With LoanBird, you can apply swiftly for any type of our online personal loans. Having a high success rate with our loan applications explains how we normally get the funds to you on the same day. In most cases, we have delivered funds to our customers in minutes from the lender’s application acceptance.
Borrow Money Online Safely
When you take out online loans in the UK, it’s important to do your homework and ensure that you’re only applying with safe companies. Unfortunately, many people use the internet to prey on people who are looking for online personal loans and scam them out of hundreds or potentially thousands of pounds.
Firstly, you should immediately be wary of any company that asks for fees upfront before you can borrow money online. LoanBird and our trusted partners will never charge you upfront.
If you’re ever cold called about online loans from direct lenders or brokers, give them a wide berth. No legitimate company will use your personal information in this way, and it would be irresponsible for us to offer people loans out of the blue. We’ll never pass on your information to other companies without your express consent.
You should also always check that you’re on a secure server before sharing any of your personal or financial details. You’ll see a padlock symbol in the address bar of your browser that confirms this. Always make sure that you’re on our secure website: https://www.loanbird.co.uk/.
Need Online Loans with No Credit Checks?
Credit checks are nothing to fear, as long as you’re smart about them. Companies offering online loans with no credit check at all are likely to be scams – or at the very least, won’t offer you the protections you’re entitled.
We offer a way to find out if you can be approved for online loans with no credit check. All of our lenders are responsible, FCA authorised lenders who are required to carry out a credit check before processing your loan. However, as long as you’ve been honest in your loan application there shouldn’t be any nasty surprises.
Choosing FCA authorised lenders also means that you will be treated fairly and protected from uncontrollably high interest rates and fees, which is especially if you are looking for payday loans.
• Interest will be capped at no more than 0.8% per day of the original value of your loan
• If you miss a payment on online loans in the UK, your default fee is capped at £15, and you won’t be charged if you miss a second payment
• You’ll never be charged more than your original loan amount in interest, even if you roll the loan over or miss multiple repayments.
Brokers and direct lenders online
Please be aware that some companies will look to charge you hidden fees. Make sure you’re aware of this before you use any online loans services.
If you don’t already know, our service is free! With us, you are safe from hidden charges or service fees. Once you apply with all the full terms will be presented to you (the cost of the loan and interest repayments etc.).
It will be clear to you how much you need to pay back and when you need to pay it. We strongly advise you study all the terms of your loan so you understand them. If you apply for a loan which you cannot afford and end up missing repayments, this could lead to further costs.
Note: Make sure you can afford the loan you want before you apply.
We believe highly in responsible lending, and offer you the variation of all our online loans so you have the choice to help suit affordability. Try out our service to see if we can assist any long term or short term finances.
Are You Eligible for Online Loans in the UK?
With such a great variety of loan types available, we’re able to help the majority of applicants find online loans in the UK. To apply, you simply need to meet our straightforward eligibility criteria:
• Aged 18 years or older
• A UK citizen
• Hold a valid UK bank account in your own name
• Have a monthly income (e.g. from full or part-time employment or self-employment)
If you meet the criteria above, simply head over to our application page to get started looking for the best online loans from direct lenders. We’ll just need proof of your identity, and a telephone number we can use in case we have any questions to move your loan application forward. Don’t worry, your personal information is safe with us! We use a completely secure server and never pass on your information unless you tell us to.
Compare Online Loans from Direct Lenders
With instant access to the majority of lenders offering loans in the UK with one simple application, you have much greater chances of being approved for online personal loans with LoanBird. It also protects your credit rating as if you have to apply for online loans from direct lenders, having multiple hard searches on your credit file in a short period of time can have a negative impact and actually lower your credit rating further.
The way it works is simple: when you apply with LoanBird, we can help you find the best option for you beforehand. We run a ‘soft search’ on your credit file which leaves no trace behind. This will give you pre-approval for all the online loans in the UK we show you.
Our application and search process is one of the quickest in the country, finding more than eight out of ten applicants a loan. While we can’t absolutely guarantee every applicant will be successful in getting online loans in the UK, as long as the information you’ve provided us is correct and there are no errors with your credit file, it’s very unlikely that you wouldn’t be approved.
Any unsuccessful applicants will still be notified on the same day of application. If we cannot provide you with one of our online loans, we may advise other options to assist you in your search.
Understanding Interest Rates and APR Online
Interest Rates Explained
Sometimes interest rates can be difficult to understand, especially when you are searching various amounts/rates for different online loans. The interest rate for any loan will tell the customer the exact amount of interest they pay over the time chosen.
Interest works as a percentage of the loan and rates can be calculated differently. This depends on the individual’s circumstances and also the terms of each loan. Rates will either be calculated daily, monthly or annually depending on the type of loan and how long it is borrowed for.
You repay the full amount of what is borrowed plus the interest.
£300 borrowed at 4% interest for a week, you would pay back £312 at the end of the week.
(4% (Interest rate) x 300 (loan amount) = 12)
(£300 (Loan amount) + £12 (Interest rate) = Repayment of £312.00)
Interest can also be calculated as compound interest (usually occurs when borrowing over a longer time period). This works in the way that interest will be calculated with the original loan amount, plus any interest added on.
Suppose you had a 5% annual interest rate (over 3 years) on a £400 loan, this would work like so:
After year one you would owe: £420 – 5% of £400 loan is £20, added to the original loan of £400 (£20 + £400 = £420.00)
Then year two you would owe: £441 – 5% of £420 owed is £21, added to the owed amount of £420 (£21 + £420 = £441.00)
Finally year three you would owe: £463.05 – 5% of £441 owed is £22.05, added to the owed amount of £441 (£22.05 + £441.00 = £463.05)
The total amount charged by compound interest is: £63.05
Note: The above example has been simplified for easy reading. Different loan terms can involve far more complicated calculations.
What is APR?
This stands for Annual Percentage Rate. The APR works out the interest on the loan alongside any other potential charges e.g. arrangement fees. All loan providers should tell you their APR rate before you agree to any terms or a contract. However, this can vary from lender to lender depending on the terms and circumstances.
As it includes potential charges this means the APR can be a little confusing at times. It could be that the interest rate is 12% per annum, but the APR is 14%, due to the addition of charges this adds another 2% interest.
The representative APR provided by any lender should be an illustrative example of the offer supplied for most customers. It should take into consideration any fees, charges or additional costs related to the loan. A representative APR must also compute the compound interest so it offers a more practical value example of cost when borrowing.
Example: you apply for a payday loan at £500, and you pay an interest fee of £50. The loan needs to be repaid within 14 days. Let’s work out the APR:
- 1: Divide the interest by the loan amount
- 2: Multiply the result by 365 (How many days in a year)
- 3: Divide that result by the whole term of the loan
- 4: Multiply the result by 100
Let’s include the figures to solve the example above:
- £50 divided by £500 = 0.1
- 0.1 multiplied by 365 = 36.5
- 36.5 divided by 14 equals 2.6071 (this is your APR in decimal format)
- 2.6071 multiplied by 100 = 260.71% APR
Apply for Online Loans in the UK Today
It’s also important that you only apply for online loans that you can afford. This means making sure that you will be able to manage the instalments of your loan from your upcoming budget. You can extend the loan period to make each payment smaller, but bear in mind that this will increase the overall cost of your loan, as interest has time to build up.
At LoanBird, we want to ensure that you’re making the right decision and do not recommend these types of loans where they may cause you further financial difficulty.
We believe highly in responsible lending, and offer you the variation of all our online personal loans so you have the choice to help suit affordability. Try out our FREE service today to find out what online loans in the UK you could get!
Why customers choose our online loans
Online Loans FAQs
What Types of Online Loans in the UK are Available?
We can help you find many different types of online loans in the UK using our smart search which takes just a few minutes to use. We both short and long term loan options available including personal loans, guarantor loans, home improvement loans and emergency loans to name a few, whichever reason you have for looking to borrow money, you’ll find pre-approved options through us. Our panel of lenders will offer the best loan for your circumstances and you’ll be free to review your offers to compare each in your own time.
What Rates of APR is Offered by Lenders of Online Loans?
The APR can vary between lender offers, but all online loans start from 49.9% from our panel of lenders. Depending on your circumstances, you could find a loan offer through us that has a favourable interest rate. All the information relating to the lender offer will be available to you so that you can review and choose the best option for you. Please note, the APR will be higher with certain loan options than others, for example a payday loan, so be sure to fully check the details before proceeding with an agreement to ensure you are happy with the terms offered.
How Quickly Will I Receive the Money for Online Loans?
Once you have been approved and have signed your digital loan agreement for online loans in the UK, you will receive the funds the same day and in most cases within 10 minutes. This will depend on if the lender and your bank support faster payments, if so, you could put your new loan funds to good use straight away. We’ve made the process of getting the loan you want paid out quickly as simple as possible, so that you can go from completing an application to having the approved funds transferred to your bank account fast within 15 minutes in total.