Capital One is known globally for serving the fair and poor credit markets with loans and credit cards. However, it doesn’t offer personal loans in the UK. To make sure you can still pay for that dream wedding venue, new car or any other large personal costs, we take you through some other options.
Capital One does not offer personal loans and recently ended its mortgage program as well. This could be part of a larger trend of big banks moving away from lending in general since the 2008 financial crisis. It also could be that Capital One just wants to focus on what it’s best known for: credit cards. Or, it’s possible the bank shifted its focus to experiments like the Capital One Cafe, a combination of a coffee shop and local bank branch meant to appeal to millennials.
If you feel let down by mainstream lenders, either because you don’t meet eligibility criteria or because your credit history is less than perfect, there are serveral lenders in the UK that offer invaluable access to credit. Lenders such as Lendable – a peer-to-peer lending service – provide fast, secure, personalised service that can provide an option when your credit is less than perfect. Requesting a quote takes just a few minutes and its soft credit search option means it will not affect your credit rating.
With an emphasis on building or rebuilding your credit history, specialist lenders often assess applicants more on how affordable a loan would be than their credit rating. However the downside is that because of the higher risk these loans represent to the lender, realistically, interest rates are likely to be significantly higher.
While these loans generally come with a higher interest rate, as they represent a greater risk to a lender, they are more readily available to people who might struggle to get finance through the regular lending streams.
Peer-to-peer platforms cut out the institutional “middle man”, bringing together lenders seeking bank-beating interest rates and responsible borrowers. Because these companies don’t have the same overheads as big high street banks, they are sometimes able to offer better rates.
To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyTo make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyTo make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyTo make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyPlease note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
Abound (formerly Fintern) is a UK lender that promises to offer borrowing “reinvented”, with affordable tailored loans.
Considering an M&S Bank personal loan? Use our calculator to work out how much you’ll pay back and how M&S holds up against the competition.
Novuna (formerly Hitachi) Personal Finance is not a bank – it’s a simplified, online finance provider from Japan that makes instant decisions on personal loans. Check out whether Novuna could be the yin to your financial yang.
Planning a large expenditure like some home improvements, a wedding or a new car? Looking to simplify existing debt? Then an unsecured personal loan could help you. Here are some popular UK lenders that we review and compare.
Compare Post Office fixed-rate personal loans against products from a range of UK lenders. Apply online and secure a competitive rate.
Compare Tesco fixed-rate personal loans against products from a range of UK lenders. Apply online and secure a competitive rate.
Find out more about M&S unsecured personal loans of between £1,000.00 to £25,000.00 Enjoy a fixed rate, no setup fees and the option to defer repayments for the first three months.
Find out all you need to about personal loans from the AA. Fast, simple comparison with a range of UK lenders.
Compare Halifax fixed-rate personal loans against products from a range of UK lenders. Apply online and secure a competitive rate.
Compare NatWest fixed-rate personal loans against products from a range of UK lenders. Apply online and secure a competitive rate.