Are you clear on representative APR?

Understanding representative APR

The Annual Percentage Rate (APR) shows you how much you will be charged to borrow money. Many banks and building societies advertise their interest rates as representative APR. This means only 51% of applicants must receive the advertised headline rate – this is usually those with the best credit score. The rest will most likely be charged a higher interest rate.


Transparent loans

We believe loans should be clear and simple. That is why we don’t use representative APR. We tell you upfront what the interest rate is on our loans and the rate does not change during your application – the rate you see is the rate you get.

When you borrow from us we don’t charge any fees, such as application or early repayment fees. This allows you to overpay or repay your loan early, without any penalty – this could reduce the interest you pay.


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