|Loan Type||Unsecured personal loans|
|Loan amounts available||£1,000 – £50,000|
|Loan terms available||12 – 84 months (1 – 7 years)|
|Age eligibility requirements||Minimum 21 years old|
|Access for lower credit scores||Possible chance of approval. No IVA / CCJ / bankruptcy declaration accepted|
|Chance of acceptance available||No|
|Loan pay out time after approval||24 hours|
|Early repayment options||Yes, with potential fees|
Who is Shawbrook?
Shawbrook is a UK-based financial company that provides a broad range of financial services, including personal loans and secured loans. They are committed to responsible lending and earn their customers’ trust with fair credit decisions ad transparent pricing.
How much can I borrow with a Shawbrook personal loan?
Personal loans offered from Shawbrook can range from £1,000 up to £50,000, and these come with repayment plans between 12 months and 7 years. The particular amounts and repayment terms that you are eligible to apply for will be dependent on your own personal circumstances and your credit history.
What interest rates can I get with a Shawbrook personal loan?
Shawbrook use real rates in their offers to customers, which means that you will be able to make a more informed decision about how the interest and repayments will affect your financial situation. The particular interest rates that are offered to you will depend on your credit score and your current circumstances.
If you have notes on your credit history detailing difficulty with making repayments, or you have not had the opportunity to build an extensive credit history, you may find that the rates offered to you are a bit higher. This is caused by lenders seeing you as a more risky person to lend money to.
Need to give your credit score a boost? Check out our top tips for improving your credit score.
What can I use a Shawbrook personal loan for?
Shawbrook personal loans are there for the bigger expenses that life might send your way, whether that is a new car, big celebrations or a trip away.
Common uses for personal loans include:
- Consolidating existing debts
- Home renovations
- Purchasing a new car
- Wedding celebrations
Am I eligible for a Shawbrook personal loan?
Your eligibility for a personal loan from Shawbrook will largely depend on their assessment of your credit score and current personal circumstances, and they will look at your ability to make loan repayments.
Shawbrook also have some eligibility criteria you must meet to qualify for a loan from them:
- Between 21 and 75 years of age
- Resident of the UK for at least 3 years
- Your bank account must be registered in the UK
- Your credit history must be clear of CCJs
- Annual income greater than £15,000
How quickly will a Shawbrook loan be paid out?
Borrowers usually see their payouts from Shawbrook in their accounts within 24 hours of finalising their agreements for a loan. There may be extra fraud checks required, but personal loans are still usually faster to pay out that secured loans due to the reduced paperwork required.
Can I pay off my loan with Shawbrook early?
Yes, you may have options to pay off the balance or make extra repayments throughout the lifetime of the loan. There may be fees for doing so, but you could end up saving money due to paying less interest in the long run.
What do I need to consider when taking out a Shawbrook personal loan?
When borrowing money you should only ever take out a loan or credit if you can afford to make the repayments, as not keeping up with them may harm your credit score.
- You may need to provide proof of your identity
- You may have to verify your banking details
- Shawbrook may reach out to you by phone if they have any questions
- Missed repayments can have a negative impact on your credit score
- There may be final fraud and lender checks before your loan is paid out
How can I see if I am eligible for a Shawbrook personal loan?
Want to find out your loan options with Shawbrook? No problem. Quickly check your eligibility to find out if you’re eligible for a Shawbrook personal loan, and we’ll tell you your loan options with over 50 other UK lenders. Simply fill in your details to get started.
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