Quick Answer
First Direct personal loans are available to UK residents aged 18+. Check their representative APR and compare with other lenders before applying. Use a soft eligibility check first — it won't affect your credit score.
- Soft-search eligibility checkers first, one targeted application second
- Shortest affordable term wins — low monthly ≠ cheap
- Representative APR binds only 51% of borrowers — compare personalised quotes
- Early repayment is a legal right and almost always saves money
Beyond the Basics
Not every borrowing need is a loan: 0% purchase cards beat loans for short-term spending, overdrafts suit genuine one-month gaps, and loans win for larger, multi-year borrowing. Run the numbers per purchase, not per instinct.
Soft-search eligibility checking changed the game: check eligibility (soft search) across the market first, apply once, to the best-matched lender. Every unnecessary hard search makes the next lender warier.
Consolidation is a tool, not a cure. Rolling cards into a loan lowers the rate but re-opens the credit lines. The failure mode is well documented: consolidated debts plus re-spent cards.
First Direct Personal Loans — Review 2025
This independent review covers First Direct's personal loan products, including representative APR, loan amounts, eligibility, and how they compare to competitors.
First Direct Loan — Key Facts
| Feature | Detail |
|---|---|
| Loan amounts | £1,000–£50,000 (varies) |
| Representative APR | Check First Direct directly for current rate |
| Repayment terms | 1–7 years |
| Eligibility check | Soft search available (no credit impact) |
| Decision speed | Often instant to 48 hours |
| FCA regulated | Check FCA Register ↗ |
How to Apply for a First Direct Loan
- Use First Direct's online eligibility checker (soft search — no credit impact)
- If pre-approved, complete the full application
- Provide required documents (payslips, bank statements, photo ID)
- Receive a decision (often instant for existing customers)
- Funds paid into your account (usually within 24–48 hours)
Compare First Direct vs Competitors
Before applying with First Direct, compare rates from other lenders:
Frequently Asked Questions
A longer term lowers the monthly payment but raises total interest substantially. Match the term to the life of what you're buying.
There's no single threshold — each lender scores differently. A 'good' band on any bureau opens most doors; below that, use eligibility checkers before applying.
Yes — the Consumer Credit Act guarantees it. Lenders can charge up to 1–2 months' interest, but early repayment almost always saves money overall.
A full application leaves a hard search visible for 12 months. Space applications out and always soft-search first.
Don't reapply immediately. Get your credit reports (all three bureaus are free), fix errors, register on the electoral roll, and wait 1–3 months before trying a better-matched lender.
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