Moneyfacts Star Ratings – Unsecured Personal Loans | moneyfacts.co.uk

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MONEYFACTS ARCHIVE. This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

nigel woollsey

Nigel Woollsey

Online Writer
Published: 20/03/2020

Anyone who is looking for the best deal when it comes to unsecured personal loans will be pleased to discover that the Moneyfacts Annual Star Ratings for 2020 have just been revealed.

Our latest Five and Four-Star Ratings for unsecured personal loan products highlight the very best products from across the whole of the UK marketplace.

Thousands of products are assessed by Moneyfacts on an annual basis, across 17 categories, from business and personal finance products to insurance and investment products. It is down to the extensive analysis of more than 2,000 data fields that enables Moneyfacts to award its Star Ratings every single year, helping to support consumers with their decision-making process.

Star ratings help consumers choose the best products

A Moneyfacts survey in July 2019 illustrated that over three-quarters (77%) of consumers agreed that independent Star Ratings was an important part of choosing a new financial product. In addition, 91% of consumers confirmed that a Star Rating from an independent and impartial company, such as Moneyfacts, could influence their decision in which financial products to purchase.

Expert, in-depth analysis

Numerous features are considered when assessing unsecured personal loans ratings, and some of this information includes:

  • Footprint-free quote
  • Instant decision
  • Application methods
  • Early repayment charge
  • Deferment periods
  • Minimum and maximum advances
  • Minimum and maximum terms
  • Payment methods
  • Overpayment without early repayment charge

 

  • Debt consolidation limit
  • Incentives
  • Joint application
  • Loan top-up options
  • Online statements
  • Payment holidays
  • Risk-based pricing
  • Same-day funds
  • Unpaid charges.

Samantha Owens, star ratings & personal finance analytics manager at Moneyfacts, said: “Finding an unsecured personal loan with a great rate is key, but ensuring it has the flexibility you need down the line is also essential.

“The Moneyfacts Annual Star Ratings for unsecured personal loans look behind the rate. They highlight the loans that offer the most features from the application process through to paying off the loan, while also looking at the features and charges applicable during the term of the loan, allowing individuals to filter down for their own needs.”

To see the full list of awarded products, please click here. There are many more 2020 Moneyfacts Annual Star Ratings to come.

 

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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