Livelend

Livelend are a direct lender, to keep costs down to ensure your rate is low they are online only and use technology to communicate with you rather than have call centres.

To get a loan through Livelend you need to meet the following criteria to be considered; must be at least 18 years old, a UK resident, be employed, self employed or retired with a pension, have an income of at least £1,000 a month, have a good history of repaying debt or making payments and be able to afford the loan.

Livelend offers a reward personal loan of £1,000 - £12,000, the reward loan rewards you when your credit score improves, each time it improves by 25 points, the APR on your loan reduces by 2% (the lowest rate will be 7.9%), if your credit score goes down, you will not be penalised and the rate will not increase.

Depending on your circumstances Livelend will offer repayments over a period of 1 – 5 years. If you want to make over payments or fully pay off the loan you simply log in to your portal and enter the amount you want to pay off, there are no fees or penalties for overpayments or early repayment.

Livelend have fair and flexible loans and never charge a fee, whether this be to set up the loan, any monthly admin for the loan, any early repayment or even for a missed payment.