1Plus1 is a relatively small, family-run direct lender (not a broker) that received a Gold Trusted Service award from the reviews platform feefo. 1Plus1 says it will consider anyone for a loan and offers quick access to funds. Many 1Plus1 customers get the funds in their account the same day they apply.
We currently don't have that product, but here are others to consider:
How we picked theseTo make it even easier to compare and evaluate unsecured loans we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyPlease note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
How do 1Plus1 loans compare against the competition?
See today's rates from across the personal loan market.
The 1Plus1 Loans Guarantor Loan charges 39.9% APR representative on loans between £2,500 and £5,000. 1plus1 offers the unsecured personal loan with repayment terms between 1 year and 5 years, and applicants can apply to borrow from £1,000 to £5,000.
| Loan type | Unsecured Personal Loan |
|---|---|
| Loan amounts | £1,000 to £5,000 |
| Loan terms | 1 year to 5 years |
| Loan rate type | fixed |
| Fee | 0% |
| Same-day funding available | |
| Instant decisions in most cases | |
| Soft-search facility available | |
| Joint applications | |
| Overpay without penalty | |
| Concurrent loans allowed | |
| Topping-up pays off existing loan and initiates a new loan | |
| Repayment methods | Direct debit |
The Annual Percentage Rate (APR) is a summary of the yearly cost of a loan. It takes into account both interest and any unavoidable charges you'll need to pay (for example an arrangement/product fee) over the duration of a loan. Because 1plus1 Loans doesn't charge an arrangement fee, its APR comprises just the interest rate – and so they're one and the same.
However, the vast majority of lenders tailor rates (and therefore APRs) to the individual applicant. If they think you're a riskier bet, they'll offset that by offering you a higher APR. The "representative APR" (as defined by the Financial Conduct Authority) is what 1plus1 Loans gives to at least 51% of those who take out the loan. The other 49% could pay more. 1plus1 Loans must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.
1plus1 Loans advertises a representative APR of 39.9% on loans between £2,500 and £5,000 on the 1Plus1 Loans Guarantor Loan.
Rather than lending based on your credit score or your assets, guarantor loans require a second person to act as second signatory and security. This means that someone who has a better credit rating or who owns property can apply for the loan with you, so long as they agree to meet any payments you can’t. If your credit rating is low or non-existent, this can be one of your only options for securing some extra finance. Fortunately, they also count towards your future credit rating, so if you always pay on time you may find it easier to get finance through the regular lending streams next time.
As long as you are not currently bankrupt or have a IVA, 1Plus1 will consider you for a loan. However there are quite a few criteria your guarantor will have to meet for your loan to be considered. They must:
1Plus1 staff are available online around the clock, 7 days a week.
1Plus1 Loans has received “excellent” reviews from customers, according to review platform Trustpilot. It currently has a rating of 4.4 out of 5, based on more than 200 reviews (updated June 2023). Some customers praised their stress-free loan application process, but others flagged issues with customer service.
You can contact customer support on 0330 1200 313, or email info@1plus1loans.co.uk.
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