Leap Loans

Leap are a Peer to Peer lending platform which ultimately means it matches individuals or companies that want to lend money to individuals who want to borrow money. There are no banks involved so you can usually see some great interest rates.

The purpose of the loan must be to clear existing debt such as other personal loans, credit cards or store cards. They will only accept people with a good or excellent credit history and you must earn at least £25,000 per year. You also must be over the age of 21, have a UK bank account in your name and have no CCJ’s or IVA’s in the last 6 years

Leap’s platform connect you directly with everyday investors to match your loan needs, and with rates as low as 4% this can be a great way to get a low cost loan. Lead are fully authorised with the Financial Conduct Authority (FCA) so you can feel confident in your decision to take out a peer to peer loan

Leap offer personal loans of £500 - £15,000 depending on your circumstances over a repayment period of 1 – 5 years. If you are accepted, the funds will be in your account within 1 day of the loan being approved and you agreeing to the contract. You can also make over payments or clear the remaining loan balance without a fee or a penalty.