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.

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Lending Works

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.

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

Name Product Total Payable Monthly Repayment Representative APR Link
Lending Works Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.6% p.a. (fixed) with an application fee of £0.00. Representative APR 12.0% and total payable £11,851.92 in monthly repayments of £329.22.
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Compare up to 4 providers

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.

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.

Name Product Total Payable Monthly Repayment Representative APR Link
Zopa Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 5 years at a rate of 8.8% p.a. (fixed) with an application fee of £240.00. Representative APR 9.9% and total payable £12,602.87 in monthly repayments of £210.05.
Hitachi Personal Finance Hitachi Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.5% p.a. (fixed). Representative APR 3.5% and total payable £10,539.72 in monthly repayments of £292.77.
Lending Works Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.6% p.a. (fixed) with an application fee of £0.00. Representative APR 12.0% and total payable £11,851.92 in monthly repayments of £329.22.
Barclays Bank Existing Current Account Customer Barclayloan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 5.5% p.a. (fixed). Representative APR 5.5% and total payable £10,848.60 in monthly repayments of £301.35.
Lloyds Bank Existing Customer Personal Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.9% p.a. (fixed). Representative APR 3.9% and total payable £10,601.64 in monthly repayments of £294.49.
My Community Bank Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 23.9% p.a. (fixed). Representative APR 23.9% and total payable £13,678.20 in monthly repayments of £379.95.
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Compare up to 4 providers

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

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.

CompanyDescriptionExample Loan
ZOPABorrow £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 £157.40Go to site
QuidCycleBorrow £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
RateSetterBorrow £3,000 to £35,000 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
LendableBorrow £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.
Madiston LendLoanInvestBorrow £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.
JustUsBorrow £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.

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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