Loans with a difference
Whether you’re looking to buy a car, improve your home, pay for a wedding or simply take control of your finances, a flexible, low-cost personal loan from Lending Works could be the perfect one for you.
We're able to offer you great rates by cutting out the bank and allowing you to borrow money from real people. Applying takes just a couple of minutes, and if successful the money will be in your account within one working day.
You can also pay off your loan early anytime, and at no extra cost.
12.9% APR representative. At least 51% of our customers receive the representative rate or better.
Why take out a personal loan with us?
- Straightforward with no hidden small print
- Low-cost, fixed rate personal loans
- 48 hours from application to payout
- Multi-award winning, 5-star customer service
- Overpay or settle early, any time, at no extra cost
Simple online application
Award winning service
Our multi-award winning Customer Service team was voted 'highly commended' in the Most Trusted Loans Provider category at the Moneywise Customer Service Awards - for the third year in a row.
Frequently Asked Questions
What can I borrow money for?
You can borrow money for most things, including:
- A car or vehicle
- Home improvements
- Debt consolidation
- A special event such as a wedding or holiday
- Any other reasonable purpose
Will applying for a loan affect my credit score?
You can receive a free personalised loan quote without any impact on your credit file. If you are happy with your personalised loan quote and wish to accept your loan, this will leave a footprint on your credit file to let other lenders know you have a loan with us. Having too many recent credit searches registered against your name can affect your credit score and ability to receive credit in the future.
What does APR mean?
APR (Annual Percentage Rate) is a term used to define how much a loan will cost you. It includes all fees and interest that you will pay over the term of your loan. The APR is a helpful way to compare how much a Lending Works loan will cost you in comparison to other lenders.
What happens if I miss a repayment?
If you miss a scheduled repayment, we'll try to get in touch with you as soon as possible to discuss your current situation. We allow up to five working days with no charge for you to make the payment. If you're unable to make the payment within five working days, we may apply additional fees and charges, as set out in your credit agreement. We'll always try to be reasonable and help you get back on track, so it's always best to get in touch with us to discuss your personal circumstances.
If we're still unable to recover the outstanding payments, we may pass your account to our debt collection partner. It's important to remember that, as a peer-to-peer lending platform, the money you're borrowing comes from ordinary people, so ensuring we recover amounts owed is very important to us.
Remember: Missing repayments on your loan can be extremely negative for your credit history and may cause you problems in obtaining credit in the future.
Is it possible to cancel my loan agreement?
You can cancel your loan agreement at any time within the first 14 days without charge, by contacting us and then repaying the funds which were originally paid into your account. You will need to make this payment within 30 days of notifying us of your cancellation request.
If you wish to cancel your loan agreement after 14 days, you can request a loan settlement figure from your Lending Works account at any time. Once you have repaid the outstanding balance in full, your loan will be repaid. Your settlement figure will include any interest accrued since your last repayment.
Can I change my monthly repayment date?
Yes you can. Once your loan has been approved you can change your monthly repayment date by following the process set out in your Lending Works account or by calling our customer service team on 020 7096 8512.
We'll adjust the first scheduled repayment on your new repayment date to account for any change in interest as a result of either shortening or extending the overall term of your loan. You will be advised of any changes to your scheduled repayments at the time of processing your request.
Why did Lending Works decline my loan application?
Lending Works assesses all borrowers for affordability and creditworthiness, in addition to verifying identities and checking fraud databases. Should we decide that the loan you have applied for stretches your finances too thinly or we find that your credit history does not meet our minimum standards, we will decline your loan.
In this case, we are unable to explain to you why we declined your loan. Instead, we recommend that you complete a personal credit search to make sure your credit history is as strong as possible.
Find out more about taking out a loan with us in our Borrower Help Centre.