First Direct Loans

Top deals

Top rate

AA

5.3%
£7,500 - £15k
1-7 years

Check eligibility Representative Example: The representative APR is 5.3% so if you borrow £10,000 over 5 years at a rate of 5.3% (fixed) you will repay £189.52 per month & total amount payable £11,371.03.

Post Office

5.9%
£7,500 - £15k
1-7 years

Check eligibility Representative Example: The representative APR is 5.9% so if you borrow £10,000 over 5 years at a rate of 5.9% (fixed) you will repay £192.15 per month & total amount payable £11,529.01.

Santander

6.3%
£7,500 - £15k
1-5 years

Check eligibility Representative Example: The representative APR is 6.3% so if you borrow £10,000 over 5 years at a rate of 6.3% (fixed) you will repay £193.91 per month & total amount payable £11,634.61.

Shawbrook

6.6%
£10k - £500k
3-25 years

Check eligibility Representative Example: The representative APR is 6.6% so if you borrow £10,000 over 5 years at a rate of 6.6% (fixed) you will repay £195.23 per month & total amount payable £11,713.96.

First Direct Loans Review

Whether you’re looking for a loan to purchase a big-ticket item or are considering debt consolidation, you might have been wondering if First Direct loans are right for you.

First Direct loans are personal or ‘unsecured’ loans, this means you do not use your home or other property as security on your loan. You can borrow between £1,000 and £25,000 in £50 increments with First Direct loans and have the option of repayment terms between 12 and 84 months.

The actual amount First Direct will be willing to loan, as with any other lender, depends on your individual circumstances, credit checks, and assessment of your financial circumstances.

Taking out any kind of loan is a long-term commitment, usually taking years to fully pay off. You, therefore, want to ensure you are getting the best loan you can to suit your deals. You can use the calculator on this website to compare over 200 different loans from over 20 different providers to help you see what your different options are.

Alternative to First Direct loans

If you are a homeowner and wish to borrow a larger amount than £25,000, a homeowner loan might be better. Because you put your home as security on the loan, lenders are willing to lend more, usually up to £250,000. The exact amount you can borrow is dependent on the value of your home and how much equity you have if you have a mortgage, as well as other factors such as how much you earn and if you currently have any other debts or financial commitments

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. If you are at all unsure of the suitability of a particular product for your circumstances, you should seek independent financial advice.

Taking out a loan is an important decision, and you should consider whether you have any other options before taking one out. If you have any savings, it might be beneficial to use these instead; the interest you pay on a loan may be higher than any interest you earn in your savings.

Other things to think about

It is also important to consider if you are thinking of taking out alone to consolidate debt that spreading your payments over a longer term means you may ultimately be paying more overall than with your existing arrangements, even if the interest rate on this new loan is less than the rates you have at the moment.

You might wish to consider other types of borrowing besides personal and homeowner loans, such as authorised overdrafts and credit cards.