Updated September 28, 2026 · BorrowCue Editorial Team
Sofkredit vs Wandoo
What sets them apart
| Compare |  Sofkredit |  Wandoo |
|---|---|---|
| APR | 10.74% to 18.06%Lower | 4,530.48% to 8,385.16% |
| Loan amount | €12,000 to €300,000Higher | €50 to €1,800 |
| Term | 6 to 240 monthsHigher | 7 to 35 months |
| Arrangement fee | 6% to 9% of the loan; on a 15,000 EUR mortgage-guaranteed loan the commission is 900 EUR minimum and 1,350 EUR maximum, charged by the collaborating lender; Sofkredit's own service costs the user nothing | 0.00 EUR (no opening or study commission) |
| Credit check | Soft prequal | Hard |
| Funding time | 15-20 days after approval; same day as the notary signing, about one week if documentation is sent quickly | 24-48 hours after approval, depending on the bank |
| Representative example | a 15,000 EUR loan at 9% interest over 5 years returns a total of 21,750 EUR | Loan of EUR 100 over 35 days, TIN 463.55 %, TAE 4,530.48 %, interest EUR 44.45, total repayable EUR 144.45 |
| Lender type | Broker | Direct lender |
| Eligibility | Natural or legal persons of legal age (+18) with Spanish nationality or residence, holder of a bank account; for mortgage-guaranteed loans a property must be owned, free of charges or with at least 70% of the mortgage repaid | 18 or older, resident in Spain, valid DNI/NIE, bank account in a Spanish entity, verifiable regular income, own email and mobile |
| Origination fee (%) | 6% to 9% | 0%Lower |
| Loan types | Secured, Debt consolidation, Business | Payday, Personal |
| Credit needed | Poor | Fair |
| Rate type | Not confirmed | Variable |
| Free early repayment | Not confirmed | No |
Same on both: Use cases (Home improvement).
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Key differences
- Wandoo scores higher overall: 8.7 vs 8.6.
- Sofkredit is available in 2 more countries.
- APR is lower at Sofkredit: 10.74% to 18.06% vs 4,530.48% to 8,385.16%.
- Origination fee (%) is lower at Wandoo: 0% vs 6% to 9%.
- Loan amount is higher at Sofkredit: €12,000 to €300,000 vs €50 to €1,800.
- Term is higher at Sofkredit: 6 to 240 months vs 7 to 35 months.
- Loan types: only Sofkredit offers Secured, Debt consolidation, Business.
- Loan types: only Wandoo offers Payday, Personal.
Our verdict on each
Sofkredit
Sofkredit suits Spanish borrowers who want property backed finance and can wait for a notary appointment. The headline cost is an arrangement fee of 6% to 9% of the loan, while Sofkredit's own service adds nothing beyond it.
Wandoo
Wandoo suits borrowers in Spain who want a small, short loan with no opening or study commission. The catch is the rate: an APR of 4,530.48% to 8,385.16% sits well above the personal loan median of 12.25%, and early repayment carries a charge.
Score breakdown
| Area | Sofkredit | Wandoo |
|---|---|---|
| Cost | 8.5 | 8.6HigherOrigination fee of 0.00 EUR (no opening or study commission) and no free early repayment, against an APR of 4,530.48% to 8,385.16%. |
| Offer | 9.3HigherRanges cover €12,000 to €300,000, 6 to 240 and 10.74% to 18.06%, with home equity and remortgage and home improvement on the same application. | 8.8 |
| Trust | 8.3 | 8.8Higher |
Ranges side by side
| Fact | Sofkredit | Wandoo |
|---|---|---|
| APR | 10.74% to 18.06% | 4,530.48% to 8,385.16% |
| Loan amount | €12,000 to €300,000 | €50 to €1,800 |
| Term | 6 to 240 months | 7 to 35 months |
Pick Sofkredit if, pick Wandoo if
Pick Sofkredit if offer, apr, loan amount, and term matter most.
Pick Wandoo if trust and origination fee (%) matter most.
How they place
| Ranking | Sofkredit | Wandoo |
|---|---|---|
| Loans for bad credit | 2 of 275 | 15 of 275 |
| Home improvement loans | 2 of 562 | 12 of 562 |
Every fact side by side
| Fact | Sofkredit | Wandoo |
|---|---|---|
| Features | Same day funding | Not confirmed |
| Legal entity | Kova Finance, S.L. | Wandoo Finance S.L.U. |
| Headquarters | Spain | Spain |
| Founded | Not confirmed | 2017 |
| Support channels | Email, Phone, Help centre | Email, Phone, Help centre |
Mortgages
| Fact | Sofkredit | Wandoo |
|---|---|---|
| Initial rate | 8% to 14% | Not confirmed |
| APRC | 10.74% to 18.06% | Not confirmed |
| Fixed period | 0.5 to 20 years | Not confirmed |
| Maximum loan to value | 30% | Not confirmed |
| Product fee | €900 to €1,350 | Not confirmed |
| Purpose | Home equity, Remortgage | Not confirmed |
Where each stands against the rest
| Fact | Sofkredit | Wandoo | Median |
|---|---|---|---|
| APR | 10.74% to 18.06%above the median | 4,530.48% to 8,385.16%highest quarter | 8.99 |
| Loan amount | €12,000 to €300,000highest quarter | €50 to €1,800lowest quarter | €40,000 |
| Term | 6 to 240 monthshighest quarter | 7 to 35 monthsbelow the median | 60 |
| Origination fee (%) | 6% to 9%highest quarter | 0%below the median | 0.25 |
Median across 1005 listed lenders.
Pros and cons
Sofkredit
Pros
- Sofkredit's own service costs nothing, so the only charge to weigh is the lender's arrangement fee of 6% to 9%.
- The loan range €12,000 to €300,000 and the term range 6 to 240 suit both renovation projects and debt consolidation.
- Eligibility leans towards weaker files, with the credit needed listed as poor, and the credit check is soft prequal.
Cons
- The arrangement fee of 6% to 9% is a large share of the loan, and the product fee on a small mortgage guaranteed loan runs €900 to €1,350.
- Maximum loan to value is 30%, well below the 90% across listed lenders, so equity of your own is required.
- Sofkredit is a broker, so the contract sits with the collaborating lender rather than the site you apply through.
Wandoo
Pros
- No opening or study commission, with an origination fee of 0.00 EUR (no opening or study commission) on the payday and personal loans.
- Repayment follows the income cycle: €50 to €1,800 over 7 to 35, which suits a bill that clears next month rather than a multi year plan.
- Fixed monthly cost from a direct lender, direct lender, so the terms sit with one counterparty instead of a broker chain.
Cons
- The APR of 4,530.48% to 8,385.16% is far above the payday loan median of 36.5%, and the top of the range reaches 4,530.48% to 8,385.16%.
- Free early repayment is no, so clearing the loan early still carries a charge.
- The amount ceiling of €50 to €1,800 is small next to the home improvement median of €1,000, so a large renovation needs another lender.
Who each suits
Sofkredit
Who it suits
- Spanish residents and nationals who own a property that is free of charges or has most of its mortgage repaid
- Borrowers consolidating several debts into one payment, since debt consolidation is among the secured, debt consolidation and business
- Homeowners funding renovation work, as home improvement is the main listed use case
Who should look elsewhere
- Anyone who needs money the same week without a notary appointment, against the stated funding time
- Borrowers who want to borrow more than a low share of their property's value, given the 30% cap
- Small lenders wanting a quick online application rather than the documentation and notary steps this route involves
Wandoo
Who it suits
- Adults resident in Spain with a valid DNI/NIE, a Spanish bank account and verifiable regular income.
- Borrowers covering a short term expense, home improvement is the stated use.
- People whose credit file stands at a fair level and who can handle a hard credit check.
Who should look elsewhere
- Anyone planning to settle the loan early, since free early repayment is no.
- Borrowers needing a long repayment period, as 7 to 35 is short.
- Readers comparing against Monzo Flex, where an APR of 10% to 23% sits far below 4,530.48% to 8,385.16%.
Current offers
Wandoo
Current offer
First period offer
Primer minicredito gratis de 250-300 EUR al 0 % TAE: 0 % TAE on a first loan of 250-300 EUR (up to 30 days)
New customers only, amount 250-300 EUR, returned within the agreed term of up to 30 days without delay
Source, checked September 26, 2026
Country by country
| Country | Sofkredit | Wandoo |
|---|---|---|
| France | Yes | No |
| Italy | Yes | No |
| Spain | Yes | Yes |
Questions about each
Sofkredit
What does Sofkredit charge to arrange a loan?+
The arrangement fee runs 6% to 9% of the loan and is charged by the collaborating lender. On a small mortgage guaranteed loan the commission falls within €900 to €1,350. Sofkredit's own service costs the borrower nothing beyond that lender charge.
How much can I borrow and for how long?+
Loan amounts run €12,000 to €300,000 and terms run 6 to 240, so the range is wide enough for a renovation or a debt consolidation. Terms and amounts are set by the collaborating lender rather than by the site you apply through.
Wandoo
What does a Wandoo loan cost?+
The published APR is 4,530.48% to 8,385.16% and the rate is variable. There is no opening or study commission, the origination fee being 0.00 EUR (no opening or study commission), so the interest rate does most of the work in setting what you repay. The representative example shows the annual cost clearly once the short term is taken into account.
Are there arrangement or opening fees?+
The origination fee is 0.00 EUR (no opening or study commission), and there is no opening or study commission on the payday or personal loans. Interest on the amount borrowed is the main cost, and the rate is variable, so it can move with the reference rate.
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