Personal Loans
Looking to spread the cost of a planned expense? Apply online for a personal loan from £1,000 to £50,000.
Representative example
Amount of credit: £1,200 for 18 months at £90.46 per month. Total amount repayable: £1,628.28. Interest: £428.28. Interest rate: 49.9% p.a. (variable). Representative 49.9% APR variable. Rates between 8.8% APR and a maximum of 1698.1% APR.
What is a personal loan?
A personal loan is a lump sum borrowed from a lender and repaid, usually with interest, through agreed monthly payments over a set period. Most personal loans are unsecured, which means they are not secured against your home, car or another asset.
The lender decides whether to make an offer after considering its eligibility rules, the information in your application, your credit history and whether it believes the repayments are affordable. The amount, interest rate and repayment term offered may differ from what you initially request.
Money Trumpet is a credit broker, not a lender. We will pass your completed application to a lender or another broker for consideration. That company will contact you directly to carry out its checks and explain any offer it is prepared to make or arrange.
How do personal loans work?
You complete one online application, Money Trumpet passes it on, and the lender or broker completes its own assessment.
Choose an amount
Decide how much you need to borrow and what monthly repayment could remain manageable throughout the loan term.
Complete the form
Provide the requested contact, personal, address, employment and income information accurately.
Application is passed on
Money Trumpet will pass your completed application to a lender or another broker for consideration.
Direct contact and checks
The company will contact you, complete its checks and explain any available offer. You decide whether to proceed.
What can a personal loan be used for?
Personal loans can be used for many planned expenses, but every lender sets its own permitted and restricted purposes.
Home improvements
A personal loan may help fund a planned renovation or repair without securing the borrowing against your home.
A car or major purchase
Some borrowers use a fixed loan to spread the cost of an eligible vehicle or another significant purchase.
A wedding or event
Borrowing can spread a one-off cost, but the repayments may continue long after the event has finished.
Debt consolidation
Combining debts can simplify payments, but it only helps if the total cost and repayment plan genuinely improve your position.
Direct answer: check the intended purpose with the lender before accepting an offer. Do not describe the purpose inaccurately, and avoid borrowing for everyday bills when the repayments could deepen an ongoing shortfall.
Who can apply for a personal loan?
To use Money Trumpet’s application service, you must be at least 18 years old and a permanent UK resident. Meeting those conditions does not guarantee that a lender or broker will make or arrange an offer.
Providers set their own eligibility and affordability rules. They may ask about your income, employment status, address history, existing credit commitments and regular household costs. The requested amount, intended purpose and information on your credit report can also affect the decision.
What information might you need?
Be ready to provide accurate contact and identity information, your current and previous addresses, employment or income details, bank details and information about existing commitments. The lender or broker may request supporting evidence before making a decision.
What affects personal loan eligibility?
There is no single rule that guarantees approval; lenders assess several parts of the application under their own policies.
Income
The lender may consider the amount, source and regularity of your income when assessing the proposed repayments.
Existing commitments
Current debts, credit limits and regular household costs can influence whether a new repayment appears affordable.
Credit history
Payment history, current borrowing, defaults, court judgments and recent credit applications may be considered.
Application details
The amount, term, purpose and accuracy of the information supplied can all affect the outcome.
Different lenders can reach different decisions because their products, risk policies and eligibility rules are not identical. Avoid submitting several full credit applications in quick succession.
Are personal loans secured or unsecured?
Personal loans are usually unsecured, so the loan is not directly secured against an asset such as your home. This differs from a secured loan, where an asset is used as security and may be at risk if repayments are not maintained.
Unsecured does not mean risk-free. Missed payments can result in charges, collection activity and harm to your credit record. The lender may ultimately take legal action to recover unpaid debt. Read more about the structure of unsecured loans or compare them with secured loans.
| Feature | Unsecured personal loan | Secured loan |
|---|---|---|
| Security | Not directly secured against a named asset. | Uses an asset, often a property, as security. |
| Provider assessment | Usually focuses on creditworthiness, affordability and eligibility. | Considers those factors as well as the asset and available equity. |
| Main risk | Missed payments can add cost, damage credit and lead to recovery action. | The secured asset may also be at risk if repayments are not maintained. |
How can you compare personal loan offers and costs?
Compare personal loan offers using the actual interest rate, monthly repayments, repayment term, total amount repayable and any relevant fees. A lower monthly payment does not necessarily mean a cheaper loan because a longer term can increase the overall cost of the loan.
Compare the representative APR, but also check the actual rate offered to you, every monthly repayment, the total amount repayable and the consequences of paying late or settling early. The representative example near the top of this page is an illustration and is not a personalised quote.
What does APR mean on a personal loan?
APR means annual percentage rate. It is an annual measure designed to help you compare the cost of credit, including interest and relevant compulsory charges, but your actual rate and total cost depend on the offer you receive.
| What to compare | What it means | Why it matters |
|---|---|---|
| APR | An annual measure designed to help compare the cost of credit, including relevant compulsory charges. | Useful for comparing products on a consistent basis. |
| Monthly repayment | The amount normally due each month. | It must remain affordable for the whole repayment period. |
| Repayment term | The period over which the loan is repaid. | A longer term can reduce monthly payments but increase the overall cost. |
| Total amount repayable | The total expected repayment if the agreement runs as stated. | This gives a clearer view of the full cost than the monthly figure alone. |
| Fees and settlement terms | Any relevant charges and the rules for paying the balance early. | These can affect the true cost and your future flexibility. |
Will applying for a personal loan affect your credit score?
Completing Money Trumpet’s form will not affect your credit score because Money Trumpet does not search your credit file. However, the lender or other broker receiving your application may carry out its own checks.
A soft eligibility check is not normally visible to other lenders. A hard credit search is recorded on your credit file and may be seen by other lenders. The company considering your application should explain which type of check it carries out and how your information will be used.
Several hard searches over a short period can make obtaining credit more difficult. Check the eligibility criteria before applying and read our guide to how loan decisions are made.
What are the advantages and disadvantages of a personal loan?
A personal loan can make a large cost predictable, but the agreement creates a fixed financial commitment that may last for years.
Predictable repayments
An offer normally sets out the repayment amount and schedule, making the commitment easier to include in a budget.
No asset used as security
A standard unsecured personal loan is not directly secured against your home or car.
Interest increases the cost
You normally repay more than you borrow, and the rate offered depends on the provider’s assessment.
Repayment risk
Late or missed payments can add cost, harm your credit record and lead to collection or legal action.
What should you consider before taking out a personal loan?
Before taking out a personal loan, check that the expense is necessary, the amount is no larger than required and every payment would remain affordable if your income or costs changed. Read the pre-contract information carefully and ask the lender or broker to explain anything that is unclear.
Consider alternatives such as delaying the purchase, saving first, reducing the amount, using an interest-free payment arrangement where appropriate or checking whether a credit union can help. If borrowing would be used to cover regular bills or repay debts you already cannot manage, free debt advice may be more useful than another loan.
MoneyHelper provides impartial guidance on personal loans and a debt-advice locator.
Personal loan FAQs
Clear answers about personal loans and applying through Money Trumpet.
What is a personal loan?
A personal loan is a lump sum borrowed from a lender and repaid, normally with interest, through agreed payments over a set period. Most personal loans are unsecured.
How much can I apply to borrow?
Available loan amounts range from £1,000 to £50,000. The amount you can request and any amount offered depend on the provider’s products, eligibility rules and assessment of your circumstances.
How long can I take to repay a personal loan?
Repayment terms vary between providers. The lender or broker will confirm the terms available for your application and show how the term affects the monthly payment and total amount repayable.
Are personal loans unsecured?
Most personal loans are unsecured, meaning they are not directly secured against a named asset. Missed repayments can still lead to charges, credit-file damage, collection activity and legal action.
Does Money Trumpet provide the loan?
No. Money Trumpet is a credit broker, not a lender. We will pass your application to a lender or another broker, and that company will make or arrange any lending decision.
Will I definitely be accepted?
No. Submitting an application does not guarantee acceptance, a particular amount or a particular rate. The lender or broker applies its own checks and criteria.
Which personal loan is easiest to get?
There is no personal loan that is guaranteed to be the easiest for everyone. Eligibility depends on the provider’s rules, your income, commitments, credit history, requested amount and personal circumstances.
Who offers the cheapest personal loan?
No single provider is always cheapest for every applicant. Compare the actual rate offered, the monthly repayments, fees, repayment term and total amount repayable before deciding.
Does completing the Money Trumpet form affect my credit score?
No. Money Trumpet does not search your credit file. The lender or broker considering the application may carry out a soft or hard credit check and should explain this directly.
Can I apply for a personal loan with bad credit?
Some providers consider applications from people with credit problems, but approval is not guaranteed and the available rates may be higher. See our dedicated information about bad credit loans.
Can I apply if I am unemployed or receive benefits?
Some providers may consider sustainable benefit or other non-employment income, while others may not. Their eligibility and affordability rules differ. Read our guides to loans for unemployed people and loans for people on benefits.
What can I use a personal loan for?
Permitted purposes vary by provider and can include eligible major purchases, home improvements, vehicles, events or debt consolidation. Confirm the purpose with the lender and provide accurate information.
How quickly will I receive a decision or the money?
Timescales vary. The lender or broker may need identity, credit and affordability checks or further information before reaching a decision. Money Trumpet does not promise instant approval or same-day funds.
Can I repay a personal loan early?
Early repayment may be possible, but the settlement process and any relevant charge depend on the agreement. Ask the lender for an early-settlement figure and explanation before paying.
What happens if I miss a personal loan repayment?
A missed repayment can lead to charges, collection activity and damage to your credit record. Contact the lender as soon as possible if you expect difficulty paying and consider free debt advice before the problem grows.
Does Money Trumpet charge an application fee?
No. Money Trumpet does not charge customers a fee for using its service. We may receive commission from a lender or another broker if you enter into a consumer credit agreement.
Who contacts me after I apply?
The lender or broker will contact you directly to complete its checks, request any further information and explain any offer it is prepared to make or arrange.
Guides about borrowing and repayments
Use these guides to prepare before applying and manage borrowing responsibly.
How Loan Decisions Are Made
Understand the information a lender may use when considering an application.
Repayment guideTips for Paying Off Loans
Practical ways to organise repayments and respond early if circumstances change.
AffordabilityHow to Create a Budget
Work out what comes in, what goes out and what a new commitment would mean.
Sources and review information
Reviewed 15 September 2026. Key external guidance: MoneyHelper — Personal loans; MoneyHelper — Credit checks and credit scores; Financial Conduct Authority — Consumer credit sales and advice; and Financial Conduct Authority — Loan fee fraud.
Ready to apply?
Use the shared application form for personal, online and unsecured loan enquiries.