Direct Lenders Loan
When you borrow from a direct lender, you deal with the company that lends you the money. There’s no broker in the middle and no one passing you along. Oakbrook Loans is a direct lender. We make the decision on your loan, set your rate and manage your loan from start to finish.
months
36 monthly repayments of
£192.18
Total repayable
£6,918.52
Representative example
Borrowing £5000 over 36 months at Representative 24.9% APR and interest rate 24.9% p.a (fixed) with monthly repayments of £192.18 and a total amount payable of £6,918.52. This example is for illustration purposes only. The rate and term you are offered is dependent on your individual circumstance. Rates from 19.9% APR to maximum 38.9% APR. Loan terms for 12 – 60 months.
When consolidating your existing borrowing, you may extend the term of your debt and increase the total amount you repay.
| The short answer | |
|---|---|
| ✓ | A direct lender loan isn't a separate type of loan. It means borrowing straight from the lender, with no broker in between. |
| ✓ | Oakbrook Loans is a direct lender, authorised and regulated by the FCA. We make the decision on your loan and manage it from start to finish. |
| ✓ | We don't charge broker fees or fees to set up your loan. |
| ✓ | Checking your eligibility uses a soft search, so it won't affect your credit score. |
| ✓ | Checking your eligibility isn't approval. If you go ahead, we'll do a full credit check, and we'll only lend if the loan is affordable for you. |
How do direct lender loans work?
A direct lender loan is a personal loan you get straight from the lender. With Oakbrook Loans, you apply on our website and we look at your application ourselves. Use our loan calculator to choose how much you’d like to borrow and how long you’d like to pay it back. You’ll see your monthly repayments and the total amount you’ll repay before you go any further.
Getting a personalised quote is simple. Tell us about you and we’ll check your eligibility for an unsecured personal loan. If you’re successful, we’ll show you the APR we can offer, your total amount payable and your monthly repayment. We use your credit history and personal circumstances to do this. Where you’ve agreed to share it, we’ll also use Open Banking data to check the loan is affordable for you. This all uses a soft credit check, so it won’t affect your credit score.
How do I apply?
When applying for one of our unsecured personal loans there are three simple steps to follow:
1. Tell us a bit about you
2. Get an instant response
3. Single monthly repayment date
Ready for your personalised quote?
months
36 monthly repayments of
£192.18
Total repayable
£6,918.52
Why apply for a direct lender loan?
Borrowing directly means you know exactly who you’re dealing with. We’re the lender from your first quote to your last repayment. Your online account lets you manage your money anytime, wherever you are. Other advantages include:
- No broker fees and no fees to set up your loan.
-
One lender, one online account.
Manage your account online where you can contact us, manage your payments and if eligible, apply to borrow more.
- Instant eligibility decision.
- We’ll try to pay your money into your bank account as soon as possible. During busy periods, this could take up to 5 working days.
FAQ - People Also Ask
A direct lender loan is a loan you get from the company lending the money. You don’t go through a broker or a comparison middleman. The lender checks your application, decides whether to lend, sets your rate and manages your loan until you’ve paid it back.
Yes. Oakbrook Loans is a direct lender of unsecured personal loans. We make the lending decision ourselves and you’ll manage your loan with us through your online account. Oakbrook Loans is authorised and regulated by the Financial Conduct Authority.
A direct lender lends you its own money. A broker doesn’t lend. It looks for a lender for you and may share your details with several lenders. Some brokers charge a fee. When you apply with a direct lender, you deal with one company and get one decision.
With Oakbrook Loans, you can borrow from £1000 to £10,000 over 12 to 60 months. The amount we can offer depends on your circumstances and what you can afford to repay. Use our calculator to see your monthly repayments before you apply.
No. Checking your eligibility uses a soft search, which doesn’t affect your credit score. Other lenders can’t see it. If you accept your quote and go ahead with your application, we’ll do a full credit check. This will show on your credit file.
You’ll get an eligibility decision on screen after you tell us about you. If you’re accepted, we’ll try to pay the money into your bank account as soon as possible. During busy periods, this could take up to 5 working days.
Yes. You can pay off all or part of your loan at any time. If you pay it off early, we may charge up to 2 months’ interest. You’ll usually still pay less interest overall than if you kept to your original term.