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1st Stop personal loans review

If you’ve been declined elsewhere, 1st Stop may still consider you for a personal loan as long as you can afford to meet the repayments. Find out more about 1st Stop and see if it offers the right deal for you.

If you’re approved for a personal loan with 1st Stop, it will act as a direct lender or as a broker for one of its panel of lenders.

Founded in 2004, 1st Stop offers a range of financial services including competitive fixed-rate personal loans, home loans and car finance. You can apply online and you will be given a decision in principle within minutes without affecting your credit file.

Key features of 1st Stop personal loans

1st Stop offers personal loans of £2,000 to £15,000 to be repaid over 24 to 72 months. The interest rate you are offered will depend on factors such as your credit rating and income.

  • Spread your loan over 24 to 72 months. Choose how long you will need to repay your loan.
  • Borrow £2,000 to £15,000. The amount you can borrow will be determined by your credit score and what you can afford.
  • Get a personalised quote with no impact on your credit rating. 1st Stop uses “soft searching” to give you a decision in principle within a few minutes.
  • No arrangement fee. 1st Stop doesn’t charge a fee for you to take out a loan.
  • Fixed monthly repayments. You’ll pay the same amount each month, helping you to budget. It also means the overall cost of the loan will be clear from the start.
  • Option to repay your loan early. You are able to repay your loan early but you will be charged interest for the duration of your loan plus one month of additional interest.

Interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors such as the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “representative APR”.

What is APR?

If you’re comparing any credit-based products, it won’t be long before you’ll come across the annual percentage rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.

All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.

Lenders are only obliged to award their advertised APR to 51% of people who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.

How do 1st Stop’s personal loans compare against the competition?

Comparison ordered by representative APR with affiliated products shown first. Rates updated 20 May 2019.

Before you take out a personal loan, it’s smart to read up and shop around. If you’ve been on the 1st Stop site to get a quote on your loan, find out how much you’d be likely to pay for the same loan from some popular lenders:

Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £2,000.00 over 2 years at a rate of 35.9% p.a. (fixed). Representative APR 35.9% and total payable £2,710.32 in monthly repayments of £112.93.
Representative example: Borrow £5,000.00 over 2 years at a rate of 16.6% p.a. (fixed) with an application fee of £20,000.00. Representative APR 22.9% and total payable £6,154.32 in monthly repayments of £256.43.
Representative example: Borrow £10,000.00 over 3 years at a rate of 34.4% p.a. (fixed). Representative APR 34.4% and total payable £15,269.04 in monthly repayments of £424.14.
Representative example: Borrow £7,500.00 over 5 years at a rate of 18.9% p.a. (fixed) with an application fee of £45,000.00. Representative APR 22.9% and total payable £12,123.00 in monthly repayments of £202.05.
Representative example: Borrow £7,500.00 over 3 years at a rate of 18.0% p.a. (fixed) with an application fee of £37,500.00. Representative APR 22.9% and total payable £10,144.08 in monthly repayments of £281.78.
Representative example: Borrow £3,000.00 over 1 years at a rate of 13.5% p.a. (fixed) with an application fee of £9,000.00. Representative APR 22.9% and total payable £3,348.60 in monthly repayments of £279.05.
Representative example: Borrow £10,000.00 over 3 years at a rate of 31.9% p.a. (fixed) with an application fee of £-12,500.00. Representative APR 42.5% and total payable £16,477.92 in monthly repayments of £457.72.
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.7% p.a. (fixed). Representative APR 49.7% and total payable £17,537.04 in monthly repayments of £487.14.
Representative example: Borrow £7,500.00 over 4 years at a rate of 18.4% p.a. (fixed) with an application fee of £45,000.00. Representative APR 22.9% and total payable £11,108.16 in monthly repayments of £231.42.

Compare up to 4 providers

With no guarantor

Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £2,000.00 over 2 years at a rate of 99.9% p.a. (fixed). Representative APR 99.9% and total payable £3,804.00 in monthly repayments of £158.50.
Representative example: Borrow £10,000.00 over 3 years at a rate of 34.4% p.a. (fixed). Representative APR 34.4% and total payable £15,269.04 in monthly repayments of £424.14.
Representative example: Borrow £900.00 over 10 months at a rate of 140% p.a. (fixed). Representative APR 315.4% and total payable £1,625.60 in monthly repayments of £162.56.

Compare up to 4 providers

With a guarantor

Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.7% p.a. (fixed). Representative APR 49.7% and total payable £17,537.04 in monthly repayments of £487.14.
Representative example: Borrow £6,000.00 over 3 years at a rate of 47.9% p.a. (fixed). Representative APR 47.9% and total payable £10,364.04 in monthly repayments of £287.89.
Representative example: Borrow £5,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable £8,782.92 in monthly repayments of £243.97.
Representative example: Borrow £10,000.00 over 3 years at a rate of 41.2% p.a. (fixed). Representative APR 49.9% and total payable £17,566.20 in monthly repayments of £487.95.
Representative example: Borrow £10,000.00 over 3 years at a rate of 48.8% p.a. (fixed). Representative APR 48.8% and total payable £17,405.28 in monthly repayments of £483.48.

Compare up to 4 providers

With a guarantor who is a homeowner

Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £11,000.00 over 3 years at a rate of 31.9% p.a. (fixed). Representative APR 31.9% and total payable £16,381.80 in monthly repayments of £455.05.
Representative example: Borrow £10,000.00 over 3 years at a rate of 40.9% p.a. (fixed). Representative APR 49.5% and total payable £17,507.88 in monthly repayments of £486.33.

Compare up to 4 providers

Important information:
You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

warning icon Warning: late repayments can cause you serious money problems. See our debt help guides.

Am I eligible for a 1st Stop personal loan?

You should only apply for a 1st Stop personal loan if you’re certain you can meet the repayment terms. You must also:

  • Be aged 21 years or over
  • Be a permanent UK resident
  • Be in permanent paid employment
  • Earn a gross annual income greater than £15,000 per annum
  • Not be bankrupt, under a current IVA or on a debt management arrangement

How can I apply?

Complete the simple application form online with details of your annual income, monthly outgoings, employment and address history for the last five years. You will receive a decision in principle within minutes, and your loan agreement will be emailed to you to sign and return.

An advisor may call you if additional information is required to determine your ability to afford the repayments. You may be asked to verify your employment and bank details. Once this has been completed, if you’re approved, the funds will be transferred to your bank account.

Frequently asked questions

*Disclaimer: The offers compared on this page are chosen from a range of products whose details Finder has access to track; they don't represent all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The terms "best", "top", "cheap" (and variations) are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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