Fast. Free. No impact on credit score.
Low Interest Loans
Fast. Free. No impact on credit score.This won’t affect your credit score
A low interest loan is for any purpose, lets you spread the cost of repayments over a time period to suit you. Use the loan calculator to determine how much you can afford to borrow. With expert advice from our panel of lenders, we can help you find the most suitable product.
Before you take out a personal loan, it’s important to do your research. Borrowing money can give you access to the funds you need to pay off debts or make a big purchase. But, it means you need to be confident you can make monthly repayments towards paying off the loan. Before you take out a personal loan, it’s important to do your research. Borrowing money can give you access to the funds you need to pay off debts or make a big purchase. But, it means you need to be confident you can make monthly repayments towards paying off the loan.
Not every situation requires the same kind of loan. There are two types of loans available, each with unique features to suit different circumstances.
A secured loan is where you borrow money secured against an asset –usually your home. If you don’t keep up with your repayments, you may lose the asset you used to secure the loan.
With an unsecured loan, sometimes known as a personal loan, the money you can borrow is determined by your credit score. It won’t be secured to any of your assets in the way a secured loan is.
The interest rate you’ll be offered on a loan may vary, depending on certain factors. These include your financial history and current circumstances, plus the type of product you’re applying for. Our interest rates start from 5.69%.
A better credit score may reduce the rate you’re offered and get you a better deal overall. Each loan repayment plan is calculated on a case-by-case basis.
Repayment amounts are determined by the annual percentage rate (APR). APR is what lenders charge for a loan, including the interest rate, plus other fees.
To find out more about APR and what goes into calculating the rate, take a look at our guide to APR.
You can use a low interest loans for any purpose, but your lender might want to know what your intentions are. People tend to apply with a specific, large project in mind, such as:
Borrow to raise the funds for the materials you need to redecorate, or build an extension.
Car purchase loans can be cheaper than dealership finance plans, with rates available to suit your requirements.
Save on fees and hassle by clearing other existing debts, in favour of a single monthly repayment, with a debt consolidation loan.
Give your start-up a boost or grow your customer base. Business loans can help give you the edge over your competitors.
Before applying for a low interest loan, it’s worth understanding what lenders look for. These factors affect how much you can borrow and whether your application is approved.
Lenders will assess your income and outgoings to ensure you can afford the monthly repayments. They may also ask about any existing debts.
Your loan-to-value (LTV) ratio is important too. The more equity you have in your home, the less risk for the lender — which can lead to better rates and higher borrowing amounts.
You don’t need perfect credit, but lenders will check your history, including any missed payments or CCJs. A stronger credit profile could help you access more competitive deals.
It’s also helpful to have a clear loan purpose in mind, as some lenders have restrictions on what their secured loans can be used for.
Every lender has their own criteria, including your income, credit score, equity, and loan amount. For more details, visit our guide to loan eligibility.
Applying for a loan with Norton Finance is easy and hassle-free. Simply:
At Norton Finance, we can help find a loan that suits your needs as compare hundreds of loan options, not just one like a bank or building society.
You could borrow between £3,000 and £500,000, over 1 to 30 years, depending on what works best for you. Unsure of how much you can afford to borrow? Try our loan calculator.
You can get a decision in principle within 24 hours and if approved, the money is usually paid within 14 days.
Click apply for a loan to start your journey
Fill out our online form for your personalised rates
Get the loan that best suits your circumstances
To check your credit score, head to the website of one of the three main credit reporting agencies. These are:
Here you’ll be able to run a credit report, which generates your credit score for free.
No, a soft search is usually performed by lenders while people are shopping around, and this will not affect your credit score. It is only when a loan is taken out that a hard credit check will be added to your credit history.
Read our guide to the different kinds of credit search