Compare the Market
Check your loan eligibility with rates as low as 5.6%. Find FCA-regulated providers without impacting your credit score—all in a matter of minutes.
Compare the Market offers a convenient loan eligibility checker for the UK, promising representative APRs as low as 5.6%. With their online tool, you can check your loan options without affecting your credit score. Loans typically start at £1,000 and can go up to £50,000, with terms tailored to your needs.
This service works by running a soft credit check, which has no impact on your credit rating. The checker analyses your financial details, from your salary and outgoings to your employment status, to find the best matching loans from a range of FCA-regulated lenders. With this, you can view your personalised loan offers before you decide to apply.
How to Apply: Step by Step
First, visit Compare the Market’s loan eligibility tool and enter your personal and financial details, including how much you’d like to borrow and for how long. Next, the checker reviews options and shows you available loan offers, complete with rates and estimated monthly payments. If you find a suitable loan, proceed to the provider’s application—only then will a hard credit check be done.
Main Advantages
One of the major pros is the soft search—your eligibility check won’t harm your credit score. Additionally, you gain access to loans from trusted FCA-regulated lenders, ensuring both security and competitive rates. Using the eligibility checker saves time, avoids unnecessary credit applications, and helps you view rates you might actually be offered, not just headline rates.
Main Drawbacks
A potential drawback is that the displayed rates are not always what you will finally get; approval still depends on a hard search by the actual lender. Additionally, while the platform is independent, you’re still limited to the range of lenders it compares—which may not cover the entire market.
Our Verdict
Compare the Market’s loan eligibility checker stands out for simplicity, transparency, and protecting your credit file. It’s recommended for anyone wanting to understand their borrowing options before formally applying. By comparing a variety of lenders and presenting personalised rates, it gives borrowers an informed edge—ideal for those seeking clarity and convenience throughout the loan process.