Personal Loans

CashLady is a credit broker, and we could help you search for a personal loan from £100. Our service is free to use, and searching for a loan will not affect your credit score.*
The CashLady guide to personal loans explores some commonly asked questions, such as:

What is a personal loan?

A personal loan is when you apply to borrow a set amount of money from a lender and use it to pay for an unplanned, crucial expense.
The money is then repaid in monthly instalments, which include interest.

What can I use a personal loan for?

Many borrowers apply for a personal loan to help keep them afloat in the event of a financial emergency. This could include covering the cost of:

A personal loan is not a long-term financial solution and should only be applied for after very thorough research and consideration. You should never apply to borrow more money than you need or can afford to repay.

Could I get a personal loan with CashLady?

CashLady is a credit broker. We work with over 30 direct lenders who offer short-term personal loans from £100 to £10,000, with repayment terms from 3 to 60 months, depending on the amount of money you apply to borrow.

We’d be more than happy to help you search for a personal loan if you meet our eligibility criteria. To use CashLady’s credit broking service, you must:

Could I get a personal loan with bad credit?

In some circumstances, a history of bad credit doesn’t automatically mean that your application for a loan will be declined.
While your borrowing restrictions could be limited, certain lenders specialise in loans for people with bad credit.
Although you could be approved for a personal loan with bad credit, you should stop and think before you apply. A bad credit personal loan could be offered with a higher rate of interest, and it’s crucial to understand how this will affect your monthly repayments and the overall cost of borrowing.

If you’re looking for a bad credit personal loan, CashLady could help. We’re proud to work with several lenders who are willing to consider applications from people whose credit history is a little worse for wear.

Search for a personal loan with CashLady

Finding the right personal loan for you can be time-consuming and confusing. With so many lenders to choose from, it can be difficult to know where to start. This is where CashLady could step in.
With access to over 30 UK-based direct lenders, we’re able to scan our panel for a loan to suit you – and this is done without harming your credit score.
Our online form can be completed in around 5 minutes and is available 24 hours a day, 7 days a week. Once complete, we’ll be able to let you know whether we’ve found you a potential lender in just 60 seconds.

If we’re able to find you a suitable loan, you can decide whether you’d like to go ahead and make a full application directly with the lender. If you do wish to go ahead, please be aware that the lender will carry out a creditworthiness assessment. This stage will include a hard search or Open Banking.
A hard search will be visible on your credit file for up to 12 months. If multiple hard searches are recorded on your credit file in a short period of time, your credit score will decline.

What’s Open Banking?

Open Banking is a procedure used by many authorised third parties. If your chosen lender uses Open Banking and you give your consent, they will be able to access your online bank account and view your recent financial activity. This will provide them with a more up-to-date insight into how you handle money.

If I’m approved for a personal loan, when will my money be sent?

Each lender will have its payout timescales, although a number of lenders on the CashLady panel could send your money on the same day your application is accepted.

While your money could be sent the same day, the time it takes for the personal loan to appear in your account will depend on your bank’s policies and procedures.

What are the best personal loans?

What’s considered to be the ‘best’ personal loan will differ from one borrower to another.
It’s not about finding the ‘best’ personal loan, but the right loan for you and your financial situation.
When searching for a personal loan to suit your needs, there are a number of factors that you may wish to use as a guide.

1. Whether the lender appears on the Financial Conduct Authority (FCA) register. All responsible lenders in the UK must be authorised and regulated by the FCA. You can see whether a company is registered by using the FCA Firm Checker here.

2. Be aware of your credit score. This could help you narrow down your options. For example, if you have a history of poor credit, you might want to look for a lender who specialises in personal loans for people with bad credit.

3. The available loan amount and repayment terms. Ensure that the lender offers the loan amount and repayment term that you’re looking for.

4. The lender’s eligibility criteria. You must make sure that you meet your chosen lender’s eligibility criteria before you make an application.

5. The lender’s reviews. Checking the reviews could help you get an idea of the service the lender provides. If the lender receives consistently good feedback, you might feel more confident in your decision to apply. Company reviews can usually be found on Trustpilot or Feefo.

Which personal loan is the easiest to get?

An ‘easy to get’ personal loan could describe a loan that’s simple to apply for. The reality is that no loan is ‘easy to get’. Every lender has their own application process, eligibility criteria, and an idea of the type of customer it’s willing to work with. Even people with excellent credit scores cannot be guaranteed to be accepted for a loan. Again, when searching for a personal loan, you should try to focus less on what’s ‘easy’ and ‘best’ and instead try to find a lender and a loan that complements your needs and your financial circumstances.

Looking for a simple, straightforward process? CashLady has you covered

The CashLady journey is fuss-free: our form can be completed entirely online and should take no longer than five minutes to fill out. Within 60 seconds of your application being sent, we’ll run a soft search and reveal whether you’ve been matched with one of our lenders.

When is a personal loan not a good idea?

You should not apply for a personal loan unless you’re certain that you can afford to make your repayment on time and in full each month.
If you default on a repayment, your lender could charge you a fee, and in addition to this, your credit score will be negatively affected.

As discussed, a personal loan should not be considered as a long-term solution. If you’re struggling with money and are worried about your current level of debt, you should take a step back before you apply for credit. Taking on more debt could lead to increased financial stress.
We’ve included some resources for dealing with money worries and debt in the next section.

If you need money but aren’t sure whether a personal loan is right for you, could a friend or family member help you out instead? Can you wait a few weeks longer while you save the money?

If you’re struggling with money…

If you’re repaying a loan but are finding it difficult to pull the money together, please speak to your lender. Some lenders may be able to offer you a repayment holiday or temporarily reduced repayments. One thing all lenders will have in common is their duty of care to work with you on a plan to ensure the next steps are as stress-free as possible.

StepChange, MoneyHelper, Citizens Advice, and National Debtline offer free, impartial, confidential advice to anyone who is worried about money and debt.

*If you use CashLady to search for a loan, are matched with a lender, and decide to make a full application, a creditworthiness assessment will be carried out. This will involve a hard search or Open Banking. A hard search will be visible on your credit file for up to 12 months, and multiple hard searches in a short period of time will damage your credit score.