What type of loan are you looking for?
What is a Loan?
A Loan is a way of borrowing money and paying it back in regular instalments over an agreed period, with interest. For many people, it’s how they fund big life moments — from home improvements, car purchases, consolidating existing debts to funding your business.
Personal or business: which loan is right for you?
The two are assessed differently and used for different things. Start with who is borrowing.
A personal loan
For you as an individual. Unsecured, so not tied to your home, although the lenders we work with ask that you are a homeowner. Usually a few thousand pounds up to around £25,000, repaid over one to seven years in fixed monthly instalments.
Typically used for: Home improvements, a car or major purchase, a life event, an unexpected cost, or consolidating existing borrowing.
Explore personal loansA business loan
For a limited company, partnership or sole trader. Lenders typically ask for business accounts, and most business loans are not regulated by the Financial Conduct Authority — we will explain which rules apply before you proceed.
Typically used for: Premises, equipment and vehicles, cash flow, growth or a new location.
Explore business loansWhat lenders look at
There is no single figure for what you could borrow. Lenders must check that the repayments are affordable, and each lender weighs the same application differently.
That is where comparing the market matters. Morrow is a broker, not a lender: we look across lenders rather than offering one product, and we explain the rate, the fees and the total amount repayable before you decide.
A lender may consider:
- Income and outgoings, or turnover and cash flow for a business
- Existing loans and credit commitments
- Credit history
- The amount you want to borrow and the repayment term
- What the loan is for
- The lender’s own criteria
Your circumstances, and what they mean
My credit history isn’t perfect
A stronger credit score usually means better rates, but some lenders consider applicants whose history isn’t spotless. Knowing where you stand first helps.
Read our guide to credit scoresI’m self-employed or my income varies
Lenders may look at your income differently if you are self-employed, a contractor or have several sources of income.
Read our guide to how income is calculatedI’m not sure whether to borrow secured or unsecured
For larger amounts or longer terms, borrowing secured on your home may be an alternative worth comparing with a personal loan.
Read our guide to second charge vs personal loansWhy use Morrow for your loan?
Loans aren’t one-size-fits-all. Your income, commitments, credit history and what you are borrowing for all affect what’s available to you.
Morrow helps make those options easier to understand, combining technology with advice from real people to help you find a route forward.
Compare the whole market
We search across lenders rather than offering one product, so you see options a single bank cannot show you.
Clear about the total cost
Rate, fees, term and the total amount repayable, explained side by side before you decide.
Honest about what is realistic
If a loan is not the right route for you, or not right now, we will say so and explain the alternatives.
Support from enquiry to funds
A real person to talk to, from the first question through to the money arriving.
