Littlewoods Loans

Good:
They offer a 3 month payment holiday at the beginning of the loan (interest still charged)

Bad:
Really high interest rate compared to other high street lenders

Verdict:
Only accepts people with a good credit history but the interest rate is really high - you will be able to get a more affordable loan elsewhere if you have good credit

Littlewoods loans are provided by a company called Home Shopping Personal Finance so when the application form turns to HSPF don't worry, they are the people who give you your money. The personal loans they offer are between £1,000 and £25,000 for almost any purpose. Their typical APR is very high compared to other lenders. You can only apply if you have a good credit history.

You can apply online or over the phone with Littlewoods. It will take up to ten minutes online and at the end of the application they will give you a provisional decision. If accepted, they will send you an email explaining your provisional acceptance. They will then credit check you and review you application and they may ask you to provide other documents. Once all of this has been confirmed, your loan documents will be sent out for you to sign and send back to them. Once they receive this, your cheque will be sent out to you which can take up to 3 days to clear.

The reviews for Littlewoods are mixed for their personal loans. You cannot have late payments, CCJs or defaults on your credit file because they will not accept you. If you want a bit more freedom with repayments then talk to a lender that offers payment holidays. If you start to miss payments with them, or make late payments, their extra charges are extensive. You will receive your money by cheque, so this means you will have to wait for this to clear when you do eventually receive it.