There are plenty of cheap loans available in the UK. Most high street banks and building societies offer one, most of these companies offer an online option as well, and new online banks are launching all the time. It's difficult to know where to start looking for your cheap loan, but all this competition means that there's one for everyone, it is just harder to sort through the huge amount of offers to find that perfect loan for you.

When you're looking for a cheap loan, you probably just think about the interest rate (or APR), but there are other charges to consider that might make a difference. For instance, some lenders charge a loan arrangement fee when you apply or a fee for rapid delivery of the money into your account. Like credit card companies charging an annual fee, this might bring your interest rate down, but you'd be better off looking for a cheap loan with no fees and a low rate.