If there’s one thing that any economy needs in order to grow, it’s an influx of money to keep the wheels of finance turning. And that applies whatever size of loan one is seeking.
But that’s where the challenge begins. The most serious problem in this day and age isn’t a shortage of people to borrow from. It’s a surplus of them. With so many companies out there – and not all of them traditional banks – getting a good deal from lenders UK can be like trying to find an individual leaf in a fairly sizable forest.
So, just who are the top five UK businesses to go to if you want a 5000 GBP loan? There is no definitive list of course but the following are worth serious consideration. M&S, Zopa, TSB, Clydesdale Bank and the Yorkshire Bank all offer personal loans in the range in question, with interest rates of between 2.8 percent and 3 percent per year over a period of one to seven years, which means that they won’t cost you an arm and a leg.
M&S, TSB, Clydesdale and Yorkshire Bank are all long-established lenders with a solid track record behind them. Zopa are a newer company, being a peer-to-peer lending website but have been making waves for several years now and have been operating since 2004.
Other Options And Beyond
But those companies aren’t alone. If those five don’t float your boat, you can also find near identical deals from the AA and the ever-dependable UK Post Office. With the Brexit-deflated Pound currently at a low value relative to the Dollar, it may be worth your while to take advantage of such a deal, although, as there’s always some risk involved in a loan, only you can decide on that.