Find an organized way to defuse your debt. Consolidate your debt with LoanTube.
Warning: Late repayment can cause you serious money problems. For more information, go to moneyhelper.org.uk
4.8/5
Loans By MAL
Loan Amount
£1000 -
£5000
Loan Term
1 -
2 years years
Representative APR
42.20%
Minimum Age
21 years
Minimum Income
£1300 per month
Representative Example: on an assumed loan amount of £2300 over a 24 month repayment period. Rate of interest 22.4% per annum (fixed). Representative 42.2% APR. Total amount payable is £3,330.48 of which £1,030.48 is interest, 24 monthly repayments of £138.77.
4.8/5
Norwich Trust
Loan Amount
£4000 -
£20000
Loan Term
1 -
10 years years
Representative APR
31.90%
Minimum Age
21 Years
Minimum Income
£2000 per month
Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.
4.8/5
My Community Finance
Loan Amount
£1500 -
£25000
Loan Term
1 -
5 years years
Representative APR
27.10%
Minimum Age
21 years
Minimum Income
£18,000 per annum
Representative example: a loan of £5,000 over 48 months will cost you £163.62 per month at a representative 27.1% APR.
Loan Amount
£1000 -
£5000
Loans By MAL
Loan Term
1 -
2 years
4.8/5
Representative APR
42.20%
Minimum Age
21 years
Representative Example: on an assumed loan amount of £2300 over a 24 month repayment period. Rate of interest 22.4% per annum (fixed). Representative 42.2% APR. Total amount payable is £3,330.48 of which £1,030.48 is interest, 24 monthly repayments of £138.77.
Loan Amount
£4000 -
£20000
Norwich Trust
Loan Term
1 -
10 years
4.8/5
Representative APR
31.90%
Minimum Age
21 Years
Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.
Loan Amount
£5000 -
£100000
Evolution Money Loans
Loan Term
1 -
20 years
4.5/5
Representative APR
28.96%
Minimum Age
18 years
Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00
Loan Amount
£1500 -
£25000
My Community Finance
Loan Term
1 -
5 years
4.8/5
Representative APR
27.10%
Minimum Age
21 years
Representative example: a loan of £5,000 over 48 months will cost you £163.62 per month at a representative 27.1% APR.
Loan Amount
£1000 -
£15000
Everyday Loans
Loan Term
18 -
60 months
4.4/5
Representative APR
99.90%
Minimum Age
21 years
Representative Example: Representative APR 99.9% (fixed). Based on a loan of £3,000 over 24 months at an interest of 71.3% p.a. (fixed). Monthly repayments of £237.75. Total amount payable £5,706. Maximum APR: 299%.
You must have got an idea about a debt consolidation loan as of now. To put it in simple terms, it is a loan that helps you accumulate all your other loans into one. When multiple loans are clubbed together, the consolidation of debts occurs.
You can combine multiple credit obligations into one loan to lower your monthly payments. Consider this option if you are having trouble making payments on them all.
You have multiple debts, and you choose to consolidate them into one. So, instead of paying multiple repayments, now, you only have to pay back one loan. You had multiple lenders to deal with, now, you owe money to one lender only.
Let us understand this with an example.
Consider that you owe money to four separate lenders, each of whom charges a different interest rate.
A £1,000 bank overdraft, £3,000 in credit card debt, £5,000 in unpaid personal loan debt, and £1000 in shop card debt are among them.
If you are approved for a £10,000 consolidation loan, the funds will be used to pay off all of your previous obligations. After that, you make a single payment towards your new loan, i.e., £10,000 each month until the balance is paid in full.
There are various benefits of borrowing a debt consolidation loan to pay off multiple debts. However, the loan comes with its own challenges, if not managed wisely and responsibly.
Let us go through the benefits and the challenges associated with this type of loan in detail.
It may be easier to manage your debt if you take a consolidation loan. You might not feel like you can manage your money if you have multiple payments with different lenders.
Particularly if you’re managing multiple outstanding balances ranging in amounts, with different rates of interest and payment dates – and you’re unsure which to put as a priority – it can be challenging.
Listed below are a few benefits of a consolidation loan:
Even a consolidation loan will not be able to reduce the total amount of debt you owe. If you’re eligible for a loan with a lower interest rate than the one you are now paying, you might end up paying less interest overall and save your money.
While a consolidation loan may combine all of your debts into one payment, you should be aware that there might be additional expenses. An interest rate on a debt consolidation loan, for instance, can be lower than the rates on your existing credit card and loan repayment obligations. A lengthier repayment time and the expense of an exit penalty for an existing loan, however, could result in significantly less potential savings.
Listed below are a few disadvantages of borrowing a loan to consolidate your debts:
You must take these factors into consideration while thinking of applying for a debt consolidation loan. This loan can be beneficial for you, however, you need to ensure that it is the right option for you to get off the debt shelf.
The parameters that determine your eligibility for debt consolidation loans include your residential status, your age, credit score, and income, among other things. Find out how much you may borrow and how much it will cost before taking out a debt consolidation loan to avoid damaging your credit rating at any cost. While it may be tempting to submit an application right away, you can avoid rejection by first determining whether you qualify for a debt consolidation loan. Spend some time looking through lenders to determine which ones provide the best services and review their products to ensure that your application will be taken into account.
Different lenders may have set different loan eligibility criteria. Hence, go through the eligibility criteria of the lender before applying for the loan.
Lenders may have different criteria or processes to approve a debt consolidation loan application. So, it cannot be said that there are a predefined set of factors that affect your approval.
However, there are some parameters that generally impact the loan approval process and they are listed below:
Your credit score will help them determine the type of borrower you are. And accordingly, the rate of interest will be charged on your loan. If you have a low credit score, there is a chance of your application being turned down.
Lenders may need to check your financial health and history before deciding to lend any money to you. Although the documents required for a consolidation loan may vary from lender to lender.
Listed below are a few standard documents that you be asked to submit by the lender:
To apply for a debt consolidation loan, first, you need to calculate how much of your debt you are aiming to accumulate. And after that, your search for finding a loan offer to consolidate your debts will be easier.
You can apply for a consolidation loan with the following steps:
Generally, there are four types of debt consolidation loans:
Let us take you through both of them one by one.
Loans that are secured by an asset, typically your home, are known as secured loans. The lender may be more open to considering larger loans at cheaper interest rates as well as applications from borrowers with less favourable credit histories because you are using your home as security against the debt.
Not taking this decision seriously could result in you losing your home if you fail to make any payments.
For the majority of borrowers, a debt consolidation loan is similar to any other personal loan that they may take for a vacation, to buy a new car or for a home improvement. “Unsecured,” means that it is not secured by your property or any other asset.
Missing a payment could have a negative effect on your credit score, which could hinder your future ability to borrow. Personal loans without collateral are used to consolidate debt.
Your interest rate will be determined by your credit history, your financial situation, and the terms and conditions set by the lender.
Managing debts requires careful planning and a detailed layout strategy with a financial backup. Without any of these, it may become difficult for you to pay back the lenders who you owe money. Not repaying the loans can have repercussions on your financial health.
Consolidating multiple debts into one is a wise idea, however, you must know how to consolidate different types of debt. You may have only credit card debts or a mix of credit card and bank loans. Different types of debt must be dealt with differently for efficient debt management.
Credit card debt consolidation means accumulating all your credit card debts into one credit card. So, instead of paying different interest rates on different cards, you will have to pay a single interest rate on one credit card. Also, there will be only one repayment date making it easier for you to track your repayments.
Generally, people use a balance transfer card to consolidate their credit card debts. Choose a card that has a lower interest rate so that your monthly repayment amount will be lower.
Ensure that you choose your balance transfer card after checking the interest rate otherwise, you may end up paying more in interest in the long run.
If you have multiple personal loans of lines of credit, you may rely on a personal debt consolidation loan. A personal debt consolidation loan doesn’t require you to use collateral. However, the interest rate of this loan may be slightly higher than a secured loan due to this reason.
Different lenders have different lending criteria. So, the amount of money that you can borrow from a lender to consolidate your loans will vary from lender to lender. Some lenders may allow you to borrow up to £25,000 while others may allow £20,000.
It is always a good idea to check with the lender before submitting your debt consolidation loan application.
Payday loans are high-interest rate loans. These are quite expensive, and hence, you should try not to fall back on the repayments of a payday loan.
If you have such type of debt, you can choose between a secured or unsecured debt consolidation loan. Depending on the loan amount you want to borrow, you can choose the type of loan you want to opt for.
Choose a loan that has a lower interest rate to help you bring down the overall cost of the loans you have.
The loan amount you must borrow should be enough to help you consolidate your debts. To determine how much you need to borrow, you will have to calculate the exact amount that you owe to all the lenders or credit card companies.
The amount that you can borrow depends on the lending criteria set by the lender you are planning to borrow from. Also, your credit score and borrowing history will be taken into consideration by the lender.
You can use a debt consolidation calculator to determine how much you can borrow and how much you will have to repay if you borrow the loan.
The loan repayment period can be chosen by you as per your financial horizon. Also, you will have to check the repayment periods offered by the lender. Remember, the longer your repayment period, the more you will pay on interest over time.
With a fixed rate of interest, the monthly repayment amount is fixed. It gives you the bandwidth to plan and stay on track with your budget. However, a variable rate of interest loan doesn’t have a fixed interest rate. With changing interest rates, the monthly repayment amounts will have to be paid.
The interest rates will vary widely from lender to lender. Rates may be lower for those with a good credit score, while rates may be higher for those with bad credit. Banks and lending companies may offer personal loans by using representative APR, which also makes it easier for you to evaluate debt consolidation loan options available in the market.
The representative APR represents the interest rate that the typical borrower will pay when their loan application is accepted. In actuality, the typical example indicates that this interest rate or a better rate was offered to 51% of loan applicants.
But keep in mind that the typical APR example depends on your loan application amount, credit history, and personal financial situation. The APR rate you are given may be better as compared to the illustrative example.
The interest rate of any loan depends on a range of factors and the factors may vary from lender to lender. The deciding factors considered by all the lenders may not be the same, however, there are a few common factors that are usually considered across the market.
We have listed below the common factors that influence the interest rate of a debt consolidation loan:
Credit Score and History
Your credit score and history will be taken into account by lenders or financial institutions while assessing your loan application for debt consolidation. With a low credit score, the interest rate will be high. And with a high credit score, the rate of interest will be low as the risk of defaulting on the loan is low.
Loan Amount
The amount of loan you apply for also plays a crucial role in deciding the rate of interest. Also, the loan amount you apply for will decide whether you can borrow a secured consolidation loan or an unsecured debt consolidation loan. With a higher loan amount, chances are high that you will be getting offers for a secured loan. The interest rate will be low on a secured loan as it will be tied against an asset.
However, if the loan amount you are applying for is low, you can borrow an unsecured personal loan. As this loan will not be tied against any collateral, the interest rate will be higher than a secured loan.
Repayment Terms
The repayment term chosen by you also influences the interest rate of your debt consolidation loan. A longer repayment term means smaller monthly payments. So, the interest rate will be high. If the loan repayment period is shorter, the monthly payment value will be higher. It will attract a lower rate of interest on the loan.
However, you should always choose a repayment period that you are comfortable with so that you do not fall back on the repayments.
Loan Arrangement Fees and Other Charges (H4 Tag)
When you borrow a loan from a lender you will have to pay a loan origination fee to them. This fee can be considered as an arrangement fee you have to pay the lender for helping you borrow a loan. The amount will depend on your loan value and may vary from lender to lender.
If you are looking to apply for a debt consolidation loan, you can borrow it from a lender directly. Or, you can use a broker’s service to find a loan with an interest rate that best suits your financial circumstances.
Banks and Financial Institutions Offering Debt Consolidation Loans
Many reputable banks and financial institutions offer products to help you combine your debts for easy debt management. They are frequently termed personal loans. However, because they can be used to consolidate debt, they sometimes go by the label of debt consolidation loans.
If you wish to borrow from your bank, and you do not have the required clarity, you must contact your bank to get the details. Understand how the loan will work and whether will it be beneficial for you.
There are various lenders in the UK who offer personal loans to help you consolidate your debts. When you are deciding to borrow a loan from an online lender, ensure the lender is registered with the Financial Conduct Authority (FCA). Dealing with a lender who is not authorized to conduct business by the FCA may result in a financial scam. You may become a victim of a fraud.
Also, borrowing a loan from online lenders is easy and smooth. You can apply for a loan from the comfort of your home without the need to step out. All you have to do is find the best lender for debt consolidation as per your personal circumstance and fill out their application form. The lender will assess your form and decide accordingly.
It is always a wise idea to compare different quotes in terms of interest rates with multiple lenders. Comparing loan quotes will give you a clear picture of what is being offered. Accordingly, you can choose the best offer as per your circumstance.
Let us understand this with an example. You found a loan quote that seemed fine to you and you got the loan approved. The next day, you found another offer that has a lower interest rate than the one you got approved for earlier. That means you could have saved more on the interest if you had compared the loan quotes.
Borrowing a personal loan for debt consolidation with real APR can help you save money on interest. LoanTube offers a platform where you can compare loan quotes with real APRs from multiple FCA-registered lenders within minutes for free.
All you have to do is fill in the application form quickly, sit back and relax. Let us do the work for you. The lenders on our platform will review your application and offer interest rates. You can see their offers on your screen within minutes of hitting the submit button. Real APR means the interest rate a lender has offered you on the quote screen will not change afterwards when you accept their offer.
Financial decision-making demands your undivided attention. Otherwise, you may end up spoiling your financial health in the long run. When you are trying to borrow a loan, you must borrow it from lenders or loan providers who are reliable and trustworthy. But with so many options available in the market, how would you know who to trust?
Let us help you understand how to identify a trusted loan provider for your financial needs.
Listed below are a few things you should consider while choosing a lender:
FCA Authorized : This is the first thing you should consider while choosing a loan broker or a lender. When you deal with an FCA-registered entity, any grievances you might have in the future can be resolved legally. However, dealing with an entity that is not registered with the FCA can be damaging to your financial health. You may become a victim of financial fraud and lose money in this journey.
Secured Website : Visit the website of the lender or broker to check if their website is secured. You have to share your personal and financial details while filling up the application form. Ensure the site is secured so that you do not become a victim of data theft. A secured website will have a SSL certificate and you can check that in the URL. If the URL has “https” then the site is secured. If it is not, do not share any details on the website.
Customer Reviews : Another good way to check if the lender or broker is reliable is to gather information from the customers. Read the online reviews and if possible check with the customers through their social media profiles on their experience with borrowing from that particular lender. It will give you clarity and the right direction for going ahead with your decision.
Your credit score will be taken into account by lenders or financial institutions while assessing the debt consolidation loan application. It is not the only deciding factor but it can be said that it is one of the deciding factors for your loan. Your credit score and rating will help the lenders to set an interest rate.
When you apply for a debt consolidation loan, the lender will check your credit report. A hard credit check takes off a few points from your score and it reflects in your history.
Suppose you applied for a loan with a lender, and the lender checked your credit report. Later the offer you received from the lender didn’t seem that catchy to you. So, you turn down the offer. Or, the lender rejected your loan application due to any other reason. In future, when another lender will check your credit history, they can see that your application was turned down initially. This may impact their decision to lend.
There is one more way a debt consolidation loan impacts your credit score. If you do not repay the loan on time and regularly, your credit score will take a toll.
When you decide to take a consolidation loan to combine all your debts that means you would have been struggling with the repayments. Missed repayments negatively affect your credit score.
With a debt consolidation loan, you have a chance to rebuild your score. If you make all the repayments on time and in full, your credit score will improve over time.
Before you borrow a debt consolidation loan, calculate how much you have to pay back to the lender each month. Do you think you can manage the repayments? Create a monthly budget beforehand so that you do not miss any of the repayments.
Choose your repayment period carefully as per your personal circumstance.
If you think you will miss the repayment date you can set up auto debit. Select a date and the payment will be automatically deducted from your account on the set date. This way you will not have to remember to make the repayment. Ensure there is enough money in your bank account that you link so that the repayment doesn’t fail.
If you are already facing issues with debts, you should contact a certified debt management organization to help you rather than apply for a debt consolidation loan.
You have a number of options to choose from if you need assistance managing your debt. These consist of individual voluntary agreements (IVAs), bankruptcy, debt relief orders, debt management plans, administration orders, and debt consolidation.
There are a few things you may consider doing to help you get out of debt if you have numerous bills and are having trouble making your payments.
You must speak with your creditors and work out a payment plan, or you could formally enter into a “debt solution” agreement.
You can settle your obligations at an affordable cost with the help of a debt management plan (DMP). If you have non-priority debts like credit or store cards, overdrafts, or personal loans – a debt management plan can be the right option for you.
Your DMP provider will assist you in negotiating a manageable payment with your creditors. You pay the DMP provider with a single monthly payment, and they pay your creditors on your behalf.
You can use a Debt Management Plan only for the following type of debts:
Many free debt counselling agencies can assist you in determining whether a DMP is the best option for you, and some can set up a plan to make sure that all of the money you contribute goes towards paying off your debts.
If you choose a fee-paying service, you must ensure that the organisation is licensed by the Financial Conduct Authority (FCA).
Individual Voluntary Arrangements (IVAs)
A formal and legally binding agreement between you and your creditors to repay your obligations over time is known as an Individual Voluntary Arrangement, or IVA. You can include any amount of debt in your IVA. There are no upper or lower limitations on the amount. You will negotiate a repayment schedule with the insolvency practitioner if you choose to file for an IVA. A lump sum payment, regular payments, or a combination of both may be used.
Your creditors must approve the repayment plan, which should be based on an amount you can afford. The IVA will often last for 5 or 6 years if you’re making monthly payments.
You will pay the insolvency practitioner your debts. They will divide the remaining funds among your creditors after keeping a portion for themselves.
While you are on an IVA, the insolvency practitioner will assess your circumstances once a year.
Debt Settlement and Negotiation
Another strategy you can use to try and get your debt under control again is to make a settlement offer to your creditors. Because you can focus on paying off as much of the debt as you can in one go rather than having to make regular monthly payments. If you think you should consider this option and your financial capabilities allow you to do so, talk to your creditors. Generally, with a debt settlement, you do not have to pay the entire amount you owe to the creditors. The idea is to bring down the debt value so you can pay it off in one go.
You can also negotiate with your creditor if you do not agree to their settlement offer.
Bankruptcy Considerations and Alternatives
If you are unable to pay your obligations, you must file for bankruptcy in order to relinquish possession of your assets. You can restart your finances after you file for bankruptcy.
There are three ways to declare it:
You cannot use your bank accounts when you declare bankruptcy as your accounts will be frozen.
Let us consider debt consolidation loans vs other available financing options which will give you an idea of what suits you the best to get rid of your debts.
Debt consolidation loans are personal loans that you can use to consolidate your debts. Depending on the amount of debt you have, you can choose to borrow a secured or an unsecured personal loan.
You borrow a debt consolidation loan at a set interest rate and then rather than paying multiple creditors, pay back only one. This will be much easier for you to track as you do not have to deal with multiple lenders anymore.
A home equity loan can be used for debt consolidation or to pay off other debts, such as mortgages. Although they typically have lower interest rates, home equity loans and home equity lines of credit (HELOC) are methods of obtaining credit based on home equity that put your house at risk.
The fact that your home’s equity is utilised as collateral for a loan or HELOC is its major drawback. In the event that you stop making your monthly payments, the lender will be able to sell your house. These loan options have low-interest rates compared to other personal finance solutions, which is the trade-off.
Cards with balance transfer options provide 0% interest rates for a specific time. If you have multiple credit card debts with high-interest rates, a balance transfer credit card becomes a tempting option. Remember that the promotional periods and costs for balance transfers often only apply to transfers made during the first 60 days after account opening. You risk losing the promotional low interest rates if you don’t adhere to the terms and conditions. Your APR will probably increase noticeably after any initial low interest rates.
However, with a debt consolidation loan, the APR will remain the same throughout the term of the loan.
Considering the Best Option for your Specific Debt Situation
It’s crucial to communicate with your creditors before looking into any debt relief options. You might be able to work out a deal with them to settle your debts, or you might gain extra time to sort things out.
Weigh all the options that are available and make a decision wisely. Take help from authorized debt assistance organizations to understand your options in a better way before making any decision.
A debt consolidation loan is a type of loan that you borrow to consolidate or combine all your debts into one. It can be a secured debt consolidation loan or an unsecured loan depending on the amount of debt you have.
When you borrow a debt consolidation loan, rather than paying multiple lenders you owe money to, you will have to pay only one lender from who you have borrowed a debt consolidation loan.
A debt consolidation loan helps you pay off your debts in an easy way. It is easy to track the repayments. And if you get a consolidation loan for your debts at a lower interest rate, it will help you save money on the interest.
If you are struggling to pay off multiple lenders a debt consolidation loan can be a relief. Different debts will have different interest rates and repayment dates. A debt consolidation loan will have a single interest rate and one repayment date.
A debt consolidation loan can be the right choice for you if you can pay back the lender the monthly repayment amount on time and regularly.
You can consolidate credit card debts, personal loans, and store card debts with a debt consolidation loan.
Yes, you can consolidate both secured and unsecured debts.
You must be a citizen of the UK and above 18 years of age to be qualified for borrowing a debt consolidation loan. However, every lender has their own criteria for lending. Check the eligibility criteria of the lender before applying for a loan with them.
A secured debt consolidation loan allows you to borrow more as collateral will be used to get the loan. With an unsecured debt consolidation loan, the loan amount will be relatively lower. Also, your credit score and history will also play an important role in the amount of money you can borrow to consolidate your debts.
The interest rate you will be offered may vary from lender to lender. It will also depend on the credit score and rating you have as lenders will review it before making their decision.
You can choose your repayment period as per your personal circumstance for a debt consolidation loan. The repayment period a lender offer may vary depending on the amount you are borrowing.
You have a chance of lowering your monthly payments if you get a debt consolidation loan with a lower interest rate as compared to the combined interest rates of your existing debts.
Yes. When you apply for a debt consolidation loan the lender will check your credit report which will slash off a few points from your score. Also, if you do not repay the loan on time, it will degrade your score. However, if you keep making timely repayments, your credit score will improve.
There are lenders who will lend you a debt consolidation loan even if you have a bad credit score. However, the rate of interest you will be high as the risk of failure in repayment will be high with a bad credit score.
Yes, if you have multiple payday loans that you are aiming to pay off, you can use a debt consolidation loan.
Yes. Lenders generally charge a loan origination fee when you take out a loan with them.
In such a case, you should contact FCA authorized debt help organizations to understand the options you have to pay back HMRC debts or tax debts.
If you miss a single repayment on your debt consolidation loan, your credit score will be impacted. You can talk to the lender and make the repayment if you have missed one. If you continue missing the repayments, your credit score will go for a toll.
A reputable lender should be approved to carry out business in the UK by the Financial Conduct Authority (FCA). Check for customer reviews and the lending history of the lender to find a reputable lender for a debt consolidation loan.
You choose the terms, we do the math.
Check your affordibility with our Personal Loan calculator and make an informed financial decision.
Calculate monthly payments
Indicative Loan Details
Loan Amount
Loan Term
Total repayment
Monthly repayment
RAPR
Interest
*The rate you get will depend on your individual, financial circumstances. Late repayment can cause you serious money problems. For more information, go to moneyhelper.org.uk.
The rate you are offered will depend on your individual circumstances.
Representative APR Example: On an assumed loan amount of £2,000.00 over 12 months. Rate of interest 60.18% per annum (fixed). Representative 79.9% APR. Total amount payable £2,684.64 of which £684.64 is interest. 12 monthly repayments of £223.72.
Some of the offered loans might be classed as High Cost Short Term Loans. APR rate starts from 18.22%. The maximum APR rate is 1721%, but you will get a personalised rate tailored to you. The minimum repayment term is 3 months, the maximum repayment term is 7 years. The minimum loan amount is £250 and the maximum loan amount is £35000.
Warning: Late repayment can cause you serious money problems. For more information, go to moneyhelper.org.uk
Credit subject to status & affordability assessment by Lenders.
LoanTube is a credit broker and not a lender.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on any debt secured against it.
Not all borrowers will qualify for a loan. The operator of this website does not engage in any direct consumer lending, we simply provide you a FREE loan brokering service. This means LoanTube does not charge customers a fee for using its introducer services, but it receives a commission from lenders or other brokers if a customer enters into a consumer credit agreement with them following an introduction by LoanTube.
LoanTube Business Model: As part of our business operations, we connect customers with partner lenders to help them find suitable loan options. LoanTube receives a commission from lenders for this service, which may, in some cases, affect the cost of the loan to the customer. However, as a responsible broker, we are committed to identifying the best possible loan options for our customers.
