Personal loan review
For the applicant with the best credit rating and the most stable situation the best lender at the moment seems to be with Zopa.
They people lending to you will be setting the APR rate and if you are seen as a very safe person to lend to, the APR can be as low as 6.7%.
Currently you are only allowed to get a quote for a loan on Zopa with a term of 3 or 5 years which is limiting seeing as you can pay it off early if you want. Currently if you borrowed £10000 over 5 years the APR is quoted at 8.8% with payments at £205.17
The next best lender would be Santander and under the same loan terms the repayments would be £205.44.
These are very close results, however the APR quoted by Santander is their lowest and the one from Zopa is not the 6.7% lowest you might be able to get depending on what the lenders decided. So Zopa could be the cheapest as long as you get a real tailored quote. You might just be surprised as the repayments at Zopa if you got 6.7% would be £195.67 saving you around £600 over the life of the loan.
Story link: Personal loan review