Personal Loan Eligibility Checker

What is Loanza Eligibility?

Are you looking for a personal unsecured loan to repay each month? With our new journey, you can find out about your eligibility for an unsecured loan first.

There's no guarantee that you can get exactly the amount over the terms you want. A lender might give you the credit total you're looking for but over a longer period, another may offer a smaller amount over the term you're looking for. You may get lucky and get the exact terms you're looking for.

So, without going from lender to lender, risking to damage your credit score, how can you tell which of the many lenders out there might be ideal to approach for a loan with a decent APR?

By checking your eligibility with Loanza, you can browse through options easily, comparing:

• Real APR
• Representative example interest rate
• Total to pay for the loan
• Monthly repayments

Loanza Eligibility makes the process easy for you

We've devised a personal loan eligibility check customers can use to find the right loan offer. You can clearly read the rate, loans, and APR facts.

Before we continue, we should say that Loanza is a credit broker, not a lender. We have connections to over 50 lenders across our network.

They're all authorised and regulated by the Financial Conduct Authority, and all have a registered office, registered in England, Scotland or Wales. They're usually an England and Wales company.

What does this mean?

It means you could discover your loan eligibility here today, with our help, rather than spending what feels like months to do it.

You can use our service to review loans with real APR from multiple lenders

It means you won't have to approach one lender after another to find a loan offer with a suitable interest rate and a sensible representative example that could work for you. Our lenders offer fixed and variable rate loans.

We could guide you through the early stages of the loan process, to find the right loan for you. Our system gives you all the information to read on loans that you require to compare details: monthly interest rate info (real offer, personalised to you), representative APR (to see what most people get offered), how many months you would pay each loan for, and the total amount repayable over the term.

Once you checked all your offers you have eligibility to apply for, you can click on your best option and continue claiming your prequalified offer on the lender's website.

We've listed some questions relating to the process, so you can make sure you have all the information and answers before you use our service.

Is my credit score at risk using your service?

No. You don't make a formal application for an unsecured loan with us, no matter what sort of APR or rate you're after. This means, no hard credit check. You won't pay us anything either - our service is 100% free.

You can complete our simple form, and we'll assess your eligibility with multiple lenders. We'll list all your options. All you need to do is browse through your competitive quotes. Be sure to understand and compare the total amount, APR, representative example, and month to month repayments before you proceed with a chosen offer.

Use Loanza to check your loan eligibility

If you're looking for a larger amount and in no hurry, you could fill our form every week or month o see if you have improving options (for instance if your circumstances improve, so could your offers).

This often involves something called a "soft search"

A soft search checks certain parts of your credit rating rather than the total. So, you can find eligible loan offers based on your credit score and personal details.

Although we don't perform a soft search ourselves, many of our lenders would take your information we pass onto them and check your credit file and other factors before returning your personalised credit offer to us. Don't worry though, this is a basic check that does not affect your credit score at all. It's also unavoidable, you'll get soft searched when looking for a personal loan via brokers and direct lenders.

So, even if you have bad credit, your total score won't drop further using our service. A so-called hard check only happens when you choose a loan and decide to formally apply for it.

Many clients tell us they find our service much easier and faster to use than looking for a loan on their own. In months to come, you may return to use it again for the latest APR, rate details, and more on fixed or variable loans.

What loan types can I look for using Loanza?

There are four to choose from when you begin the process:

1. Personal loans
2. Short term loans
3. Bad credit loans
4. Guarantor loans
   

How do they work?

Each loan has set minimum and maximum amounts you might borrow. Those amounts are representative of the amounts you may be offered by lenders in our network.

Many customers have already gone through this process. Some customers have used it to help them find a loan even as you've been reading this.

Put simply, if you would like to borrow money for a few months or longer, we may be able to find you an offer.

Each one may incur a different rate, whether fixed or variable, but you'll find all the data you need via our loans service. Our short-term and bad credit options have a different journey - there, you get connected to one of our lending partners (that suit your needs), so after filling our form, we'll redirect you to their website. When looking for personal and guarantor loans, we will show you multiple offers (surely you know the drill by now - with your personalised interest rate ie apr, your term length often expressed in months, and the good old representative example).

Do I need collateral to support any loan offer I might apply for?

For any loan offer you get, it will be specified whether it's a personal loan, a car finance, a homeowner or guarantor loan, etc. Most of our loans are unsecured loans though, and therefore do not require you to have any assets. You don't need to own a house or car to apply for these, and so they're worth considering for a UK resident in all kinds of personal circumstances.

Of course, other factors still apply. You should still think about the months you'd ideally have any of these loans for, the total sum to pay, the APR (annual interest rate) paid, and so on.

What kind of interest rate is a representative example of what I might be offered?

The interest rate or APR you might get from an individual lender could depend on various factors. Personal elements come into play here, such as the information on your credit file, your income, and so on.

You will always get an APR giving you the interest rate for each unsecured loan you are offered. This works the same as it does for a credit card or other loan with monthly repayments that include the interest rate.

The representative example APR (interest rate) information for each loan could be between 3.40% APR to 99.95% APR. The percentage APR offered relates to how risky a lender thinks you may be.

The higher the representative APR, the higher the total amount you repay is going to be on the amount you borrow.

APR might only be three letters long, but APR is a vital statistic to know more about. Fortunately, Loanza could make it easier to understand the APR.

Our search result gives you three stats about the credit offer that matches your request - and APR is one of those stats. This is the APR interest rate you'll pay if you take that offer.

What about the monthly repayment?

The amount of your monthly repayments will depend on the length of the loan and the amount you wish to borrow (and the interest rate). The loan term could be anything from 12 months through to seven years, with a consistent monthly repayment made throughout.

Remember that you will make monthly payments toward paying off your unsecured loan that includes the incurred interest (determined by your APR).

At the end of the term, you'll have cleared the personal loan amount along with the interest, thereby repaying the total amount.

The APR is crucial to know, along with the total amount you'll borrow. You may be surprised at how simple it is to see all on our personalised results page.

What is the Loanza search process?

We have a simple three-step process to follow:

1. Complete our quick form online today
2. Look through the personalised loan details offered
3. Choose which lender to use, claim your offer on their site and get funded (often on the same day)

Most people find they can complete the information and details we require in around two minutes.

So, whether you're looking to consolidate credit cards, pay for home improvements, or something else entirely, a couple of minutes are a representative example of how much time it is going to take out of your day to enquire about loans via our service.

Remember about the soft search too - this won't damage your credit. A lender might review certain parts of your credit history but not all of it, hence the pre-approved status rather than full approval.

What does pre-approved mean?

A lender could pre-approve you for credit based on your details when looking to borrow money from them. However, upon a formal application, a full search of your credit file will occur to make sure everything is as you said.

A fixed rule here is that you must grant permission for this search. So, you're always in control, no reference number needed.

What details do I need to give you?

There are four fixed steps to complete before being offered any suitable representative example amounts you could apply for and borrow.

Now, before we guide you through these fixed steps, we want to make it clear they don't take more than around two minutes to complete. That's not each step - that's in total.

It's not a fixed time, of course, but it's a fair idea.

We want to be representative and accurate about the form, but rest assured it's far quicker to fill in than you think!

Step One

This asks you to give us some fixed information about your loan. Here you can choose the amount of money you'd like to borrow, along with the term, i.e., how many months you'd like to pay back the money over. You'll see simple dropdown boxes to help you with these.

Next, you need to tell us why you want the money. Home improvements, debt consolidation (i.e., paying off credit card balances and getting a loan instead), and vehicle - all these possibilities are there, with a fixed button to select the relevant one.

There is another option to choose if none of the available options fits with the reason you're looking to borrow. Choose 'other' if this is the case.

Pop in your email address and tick the boxes for consent. You can read about those before continuing, but our service adheres to all rules laid down by the FCA. We are authorised and regulated by the Financial Conduct Authority.

Step Two

This is the personal details section. Again, it's all quick and straightforward to complete. Here are the pieces of information you need to enter:

• Your title, so Mr, Mrs, or something else from the list
• First name
• Last name
• Mobile number
• Date of birth (your date of birth helps lenders identify you, along with the other details you provide)
• Marital status
• Dependents

All simple to complete, giving you a representative example of the clear nature of our service.

Step Three

Here we move on to your home details. You don't need to be a homeowner but you do need a permanent address. You'll see that you need to give your status, which could be homeowner or tenant, for instance.

Make sure you also complete your monthly payment for rent or monthly repayment for a mortgage, depending on which one you pay. Lenders will need to know you can afford the repayments on a monthly basis on any applicable loans they offer, whether over 12 months or much longer. Make sure you're clear and honest throughout.

Step Four

What's next? Employment details.

Lenders want to know about customers' employment status because it is a clear and representative example and evidence of any income you might be receiving. You might be full time, part-time, self-employed, or even unemployed this month and receiving benefits.

Make sure you pick the correct one from the options and add the other requested info, such as the name of your employer, how long you've been there, and the net income you get each month.

Your representative income each month is vital because it shows how much you receive as monthly pay. Again, always check your details to see if they are correct.

You'll notice that many parts of the form offer dropdown boxes or simple checkboxes, so you can pick one of several options. We've done all we can to make sure you can use our service and complete the various sections with ease.

We hope our explanations here are representative of how straightforward you'll find the process.

All done - how long do I need to wait to see my offer?

Not long - we've even built in a timer, showing you how close you are to 100% as the search process continues. It doesn't take long.

You'll then see a message at the top of the screen telling you how many lenders we found for your loan request based on the information you gave us. You'll see the exact match - an offer you're pre-approved for according to your specifications. This shows you:

• The APR (annual percentage rate)
• The monthly repayment for that offer
• The total amount you will pay back if you apply and you are accepted for the loan

We also give a representative eligibility score out of 100, so you can see how closely you match the loan. If you like what you see, you can apply by tapping or clicking on the 'apply now' button.

What happens if I decide to apply?

If you use our service and apply to a lender, they will check your credit history. It is important to know that even if you match 100% with a loan, it will still be subject to checks by the lender. They need to see your credit rating and make sure your credit score suits the loan they have pre-approved you for. This explanation is representative of how the whole process works.

As you can see from this representative guide, this goes beyond a soft search, but you are in full control. You do not need to apply for an unsecured loan via the recommended lender for credit unless you want to. If you don't want to carry on, you don't need to - and the soft search won't show on your credit score.

Do you only search for exact loan matches?

No. We want to serve our customers well, so we also provide a list of similar offers underneath the exact match. These are other possible credit offers, with representative APR data and interest on the credit, along with monthly payment amounts that are available to you.

There are two things to note about this feature before you read further:

1. The loan amount of money might vary
2. The term length might vary, along with the monthly repayment for credit

We will clearly state above each offer the loan amount and term length the offer is for. You'll see the same details as for your exact match results, (total amount repayable, APR, representative example, monthly repayments).

Essentially, rather than using the term and amount as fixed info, as we do with the exact match result, we give you some other possibilities too. You can compare those to the exact match. When you compare them, look at the details before you choose a loan representative of the type and length of credit you'd like. Bear in mind, we will display your exact match offers on top, but your similar offers may have lower interest rates and better terms. Perhaps you can be flexible on your amount or term and land a better deal.

Other queries about our personal loan service

We hope our process helps you find a great exact match credit offer you are looking for, with an APR and representative example that suits your needs.

Here we list a few more topics that might have crossed your mind.

Wait a second. What's the difference between representative interest rate and real interest rate?

A representative apr is what a lender offers to most of its customers. The rules are that to call it a representative rate, it has to be offered to 51% of applicants. A real apr instead is one that is offered to you, personally. This is what really matters. You could be among the 51%, but you could get a much better rate, or a much higher one.

The interest rate varies between loans - even if two or more loans come from the same source. You may be able to borrow the same amount from several sources, yet find more competitive interest from one, repaying over the same number of months.

You may get multiple offers from the same lender, with the amount and term varied. The total you'll repay and the APR will vary accordingly, too. Our system will compare all the sources we have, so you can read the evidence to find a representative and appealing example that matches your needs.

You may get a different APR rate for one offer if you compare it to another. Fortunately, our system works hard to compare all the available credit offers we can find on loans, each offering a reasonable rate. You'll soon see the total amount, the representative APR, and the real rate applicable to your matched result.

Where can I see the representative example for my exact match loan?

The representative example appears on the bottom part of each of your results (in bold, blue font), so you have the total amount of info you need to help you decide.

Can I see the total amount repayable?

The total amount is different to the amount you borrow. The interest rate for your personal loan makes this bigger. The lender charges an interest rate on the amount you borrow. The amount, plus the interest rate payments, gives you the total amount - it is displayed clearly on each of your loan offers.

Try the Loanza free loan quote service today

For a fast and straightforward personal loan eligibility checker UK, try Loanza. Compare an exact match loan offer with other similar offers using our quick service. It's free. Borrow money safely from one of our trusted lenders.

Finding deals to compare can be difficult, so we have done all we can to give you a total service you can try today, whether you're looking for fixed or variable loans offers. We make sure to find the best deals for you, you make sure you make timely repayments month by month.

Get started with our eligibility checker for personal loans

Whenever you're thinking about personal loans instead of credit cards, Loanza might be able to help. We can help you find a representative match for one of the many loans from our network of lenders.

We make it quick and easy to get beyond representative examples and representative APR s. Getting real rates for genuine loans offers from our network is the future. There's no better or safer way to to search for credit possibilities and loans.