Lendable Loans Review

Lendable Loans deliver a fast, transparent and accessible borrowing solution for UK individuals with a range of credit histories.

Lendable Loans, offered by a UK fintech based in London, aims to simplify this experience through a digital-first platform that combines transparency, speed, and personalised decisioning powered by artificial intelligence. Designed to serve a wider range of credit profiles—not just prime borrowers—Lendable offers personal loans with set fees rolled into the loan, fast funding, and reliable support, all regulated by the Financial Conduct Authority.

This guide provides a clear and informative overview of Lendable’s personal loan product. It explains why Lendable could be the right option, essential information borrowers should review beforehand, and the step-by-step process to apply. 

Fast, Fair and Accessible Personal Lending for UK Borrowers

By offering a soft-credit quote upfront and ensuring no hidden charges, Lendable strives to deliver a lending service that is honest, predictable, and designed to empower borrowers to make confident decisions about their finances.

Lendable’s process emphasises speed and clarity. Borrowers can request a quote that does not affect their credit file, choose a repayment term of one to five years, and, if approved, often receive the funds within two hours. With regulatory oversight and robust customer support, Lendable provides a transparent pathway to access unsecured personal credit—particularly helpful for those with limited or less favourable credit backgrounds.

Why Consider a Lendable Loan?

Choosing Lendable Loans may be beneficial for UK applicants seeking a borrowing solution under these circumstances:

• Personalised Rates Across Credit Bands: Lendable provides APRs from approximately 8% up to 50%, based on individual risk profiles within credit-band groupings.
• Fast Access to Funds: After approval, funds are typically transferred within two hours, making Lendable one of the quicker unsecured lenders in the UK market.
• Soft Search Eligibility Check: Prospective borrowers receive a personalised quote via a soft search that has no impact on their credit score.
• Loan Fees Built In, No Upfront Charge: A non-refundable loan fee is automatically included in the loan balance—no payment is required before disbursement.
• Helpful for Borrowers with Challenging Credit Histories: The underwriting model considers a broad dataset, allowing users with fair or limited records to be considered rather than excluded outright.
  

What to Know Before You Apply

Prospective Lendable applicants should understand several key points to make an informed choice:

• Eligibility Requirements: Applicants must be at least 18 years old, resident in the UK for at least three years, earn a minimum income (e.g., £800 monthly), and hold a UK bank account.
• Loan Amounts and Terms: Lendable offers unsecured loans between £1,000 and £25,000, with repayment periods ranging from one to five years.
• Representative APR and Variance: The platform’s representative APR sits around the high twenties (e.g. circa 29%), but actual APR may range from around 8% up to nearly 50% depending on the individual’s credit band and affordability.
• Fee Structure and Early Repayment: The one-off loan fee included in the principal is non-refundable, even if the loan is repaid early. Early settlement quotes may include additional days’ interest under applicable regulations.
• Repayment Flexibility: Borrowers may make extra repayments at any time without penalty, potentially reducing interest and shortening the loan term. Loan amounts cannot be increased once agreed, but a second loan may be possible subject to eligibility.
  

How to Apply for a Loan

The application process with Lendable is digital, streamlined, and designed to be user-friendly:

1. Request a Personalised Quote: Provide basic details about the loan amount, term, income, and identity. Lendable uses a soft search to generate a tailored rate without affecting the credit file.
2. Review the Quote and Decide: The rate and estimated monthly repayments are provided instantly. Prospective borrowers may review the offer and choose whether to proceed.
3. Complete Full Application: If accepted the quote, the borrower completes a full application form and submits supporting information if required (e.g. income verification).
4. Undergo Final Assessment: A full (hard) credit check is conducted. Lendable evaluates affordability and creditworthiness before confirming the final rate and terms.
5. Sign the Loan Agreement: Approved applicants review and sign a digital contract, confirming acceptance of the loan terms.
6. Receive Your Funds: Once the agreement is signed, the funds are typically disbursed to the applicant’s UK bank account within a few hours—often within two hours on working days.

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