MoneySuperMarket review

The rate depends on which lender you are matched with. Matched rates run 5.9% to 99%, so the cheapest and the most expensive options sit a long way apart. The published representative example is Representative 16.5% APR, maximum APR 99%, and the rate offered to you will reflect your own circumstances.

Amounts run £1,000 to £50,000. That range suits a borrower consolidating several balances into a single payment, or funding a larger home improvement project. Anything below the bottom of that range falls outside this search, so a small short term loan would need a different kind of lender.

Terms run 12 to 120. A short term keeps the monthly payment high but clears the balance sooner, while the longest term spreads the cost and raises the total repaid in interest. Free early repayment is offered, so clearing the balance ahead of schedule adds no charge if your circumstances change.

The check described is a soft prequalification (soft prequal), which is gentler on your file than a full credit search. MoneySuperMarket is a broker (broker), so the lender you are matched with runs its own checks before agreeing anything, and that decision is the one that matters.

It is a broker (broker), so your details go to lenders and you see what each will offer. The group behind it is MONY Group plc, based in the United Kingdom and trading since 1993. The rate, fees and repayment terms all come from the lender you are matched with.

The search covers personal, debt consolidation and secured, so personal, secured, guarantor, car, business and bridging loans sit alongside debt consolidation. The stated use case is home improvement (home improvement), which makes it a natural fit for a renovation budget or a balance to consolidate.

The median personal loan APR on the site is 12.25%, and the upper quartile sits at 25.03%. The range MoneySuperMarket matches (5.9% to 99%) is wide, so a single headline rate tells you little about what you would actually be offered for your own circumstances.

You need to be a minimum age and a UK resident, which narrows the search to UK borrowers. The group is based in the United Kingdom and lists a single use case, home improvement (home improvement), so applicants with a renovation plan, or a balance to consolidate, are the ones it is built around.