Please 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.
Lending Works loan calculator and 2021 review
Our Lending Works loan calculator will help you work out how much you'll pay back on a Lending Works personal loan, and how it compares.
Our calculator lets you pick how much you want to borrow, over a timeframe that suits you, to estimate how much you would pay back each month and overall. We base our calculations on Lending Works’ representative APR, but it’s important to note that credit is subject to status and your circumstances may affect the actual rate you’re offered.
Calculate the cost of a Lending Works loan
How do Lending Works loans compare against the competition?
Table: sorted by representative APR, promoted deals first
Before you take out a personal loan, it’s smart to read up and shop around. You can use the table below to see how much you’d be likely to pay for the loan you have in mind.
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
What's in this guide?
How do Lending Works loans work?
The peer-to-peer lending and borrowing platform Lending Works connects private investors with creditworthy borrowers to offer fixed-rate loans for any “reasonable purpose”. By cutting out many of the overheads associated with traditional, high-street banks, Lending Works aims to offer better rates to both borrowers and lenders.
How to apply
To get a personal loan though the Lending Works platform, follow these simple steps:
- Get a quote: Get a personalised quote in two minutes
- Finish application: Finish filling out the application for a loan
- Verify your application: Lending Works will then verify your loan request and your credit worthyness
- Receive your funds: If your loan is approved, you will be matched with investors, and you will receive your funds within 2 days of getting your first quote
Alternatives to Lending Works
If you’re looking for other P2P companies offering a similar service to Lending Works, here’s a selection of popular platforms.
| Company | Description | Example Loan | |
|---|---|---|---|
 | Borrow £1,000 to £25,000 over terms from 1 to 5 months. Soft search facility means that checking your rates won’t affect your credit score. FCA firm registration number: 718925. | Representative example: Borrow £7,500 over 5 years at a rate of 8.8% p.a. (fixed) with a £180 fee. Representative APR 9.9% and total payable £9,443 in monthly repayments of £157.40 | Go to site |
 | Borrow £2,500 to £25,000 over terms from 12 to 60 months. QuidCycle specialises in helping borrowers to refinance and consolidate expensive debt. FCA firm registration number: 655370. | Representative example: Borrow £10,000 over 5 years at a rate of 6.9% p.a. (fixed) with no fee. Representative APR 6.9% and total payable £11,880.00 in monthly repayments of £198.00. | More info |
 | Borrow £1,000 to £25,000 over terms from 1 to 5 months. Soft search facility means that checking your rates won’t affect your credit score. FCA firm registration number: 722768. | Representative example: Borrow £5,000 over 1 year at a rate of 3.9% p.a. (fixed) with no fee. Representative APR 3.9% and total payable £5,195.00 in monthly repayments of £432.92. | More info |
 | Borrow £1,000 to £20,000 over terms from 1 to 5 months. Soft search facility means that checking your rates won’t affect your credit score. FCA firm registration number: 722768. | Representative example: Borrow £7,500 over 36 months at a rate of 18% p.a. (fixed) with £440.00 fees. Representative APR 22.9% and total payable £10,144.52 in monthly repayments of £281.79. | |
 | Borrow £1,000 to £7,500 over terms from 1 to 5 months. FCA firm registration number: 724098. | Representative example: Borrow £3,500 over 5 years at a rate of 4.9% p.a. (fixed) with fees of £105.00. Representative APR 7.31% and total payable £3770.64 in monthly repayments of £104.74. | |
 | Borrow £2,000 to £25,000 over terms from 24 to 60 months. | Representative example: Borrow £10,000 over 5 years at a rate of 10.0% p.a. (fixed) with no fee. Representative APR 11.7% and total payable £13,258.16 in monthly repayments of £220.97. |
Lending Works customer reviews
Lending Works has received mixed reviews from customers, according to review site Lending Works. It currently has a rating of 3.4 out of 5, based on more than 1,600 reviews (updated 9 April 2021). Some customers praised the simple loan process and quick funding, but others reported issues when lending money on the platform.
Frequently asked questions
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
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