The Motley Fool

Find competitive secured and unsecured (personal) loans on The Motley Fool by full search or by best buys. The site is attractive, well laid out and easily navigable.

Unsecured (Personal Loans)

Unsecured search results can be listed in ascending or descending order of "typical" APR or monthly repayment. The table is customised by clicking on the ascending/descending arrows at the head of each column. Other charges are displayed in the table and the fine print is accessible by clicking on the More button in the final column. Hitting the Apply button in the final column of the table takes you through to the provider's site.

Note that the "typical" APR is not necessarily the rate that you will pay. Lender's may offer better rates for bigger loans. For example, Alliance & Leicester charges 13.9% APR on a 3-year £3,000 loan, but only 6.3% APR on a 5-year £7,500 loan. Make sure that you view the loan details (More).

The unsecured best buys are listed in ascending order of monthly repayments and are not customisable. Content is consistent with the full search table for £8,000 loans over 3 years. However, rates will vary by loan size and term, and a full search is preferable.

Although the search wizard does accommodate prospective borrowers with CCJs, I was unable to generate any products. In each case I was directed to the secured loans division.

Secured Loans

The questionnaire inquires after your income and the free equity in your home (value less outstanding mortgage). Interest rates are generally higher than for unsecured loans. There are no questions about credit status (e.g. CCJs, arrears etc.) which seems to imply that all applicants are treated as sub-prime borrowers. Fewer products are offered to the self-employed.

Click on the More button in the results table for details of additional non-interest charges and terms and conditions( e.g. early redemption, notice period etc.). Application is not possible online. However you can submit an inquiry form to the lender online.