Peer to Peer Loans

Borrow from £1,000 to £35,000 with a Peer to Peer Loan, and turn your plans into a reality.

Peer to peer loans offer an effective way to borrow £1,000 to £35,000 at competitive interest rates over 1 to 5 years. We work with the best peer to peer lenders to help you access finance that suit your needs, whether it’s for home improvements, purchasing a new car or tidying up your finances into one monthly payment.

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In partnership with Smart Loans


How Does Peer to Peer Lending Work?

Peer to peer lenders act as middlemen between those looking for a loan and those individuals or companies looking to lend out money and receive a return on their investment.

Borrowers tend to get better rates than with other types of loans, and savers get better rates than if they used a savings account from their local bank.

They are otherwise known as ‘money cupids’ or ‘matchmakers’ offering rates as low as 3% for good credit customers and 9.9% Representative APR for those with poor credit.

With peer-to-peer lending, your credit score facilitates how much you can borrow and what interest rate you will pay. Borrowers with good credit will pay low amounts of interest and customers with bad credit will pay higher amounts of interest because they have a greater risk of default.

The lenders or investors that use a peer to peer platform can choose whether to lend to those with good or bad credit. So if they decide to take on more risk and lend to those with bad credit, they will receive a far greater return than lending to those with good credit. 


What Is the Eligibility Criteria for a Peer to Peer Loan?

You will have to meet a list of criteria in order to be eligible for a peer to peer loan with Proper Finance. Whilst the set eligibility criteria may vary between lenders, all applicants will have to meet the following requirements:

  • Be over the age of 24 years old
  • Have an income over £15,000
  • Have a good credit history

The eligibility criteria for peer to peer loan lenders will be different to those borrowing. It’s important to read all the requirements on any loan product you are wanting to apply for, making sure that you meet any and all necessary criteria.


How Much Can I Borrow With a Peer to Peer Loan?

Proper Finance can help you find loans ranging from £1,000 to £35,000 for a period of 1 to 5 years. We work with some of the UK’s leading lenders, who can offer a variety of different loan products, meeting a range of different requirements borrowers may have. Please see details of what Proper Finance can help you to find below:

  • Loans from £1,000 to £35,000
  • Loan terms from 1 – 5 Years
  • 1 – 2 Year loans variable rate
  • 3 – 5 Year loans fixed rate
  • Loans also available in Northern Ireland

There are also no early repayment fees if you wish to repay your debts early. In fact, you may save money on the overall cost of your loan since you will accrue less daily interest.


Why Compare Peer to Peer Loans with Proper Finance?

Proper Finance can help you find great peer to peer loan options for a range of different borrowers. We work with number of leading providers to help you compare rates and get the best loan offer possible.

Peer to peer isn’t the only type of loan you can apply for through Proper Finance. We can also help you to compare products such as homeowner loans, guarantor loans and more.

Our online application form can be completed in just a few minutes, with applicants receiving an instant decision after this.

We understand how difficult it can be to find the right financial product for you. That’s why we’ve partnered with leading UK lenders to process your application and find the best options that meet your borrowing needs.


Apply for a Peer to Peer Loan With Proper Finance

Proper Finance can help to find the loan thats right for you. To apply for a peer to peer loan with proper finance, simply complete our online application form and receive an instant decision. Our application form takes only a few minutes to complete.

If you are successful, we will assist you every step of the way, and your funds will be transferred directly to your debit account within 2 working days.

Apply Now


In partnership with Smart Loans