First Direct is part of the HSBC group one of the world’s largest banking organisations – it was set up as a telephone bank but has now become an internet and telephone operation. Customers recommend First Direct more than any other bank (according to First Direct’s own research, not LoanExpert). Amongst a wide range of personal finance products, First Direct offer personal loans. However, our research shows that they’re rarely amongst the most competitively priced in the market. If you want to see how First Direct compares to the rest of the UK market choose the “compare” channel on this page where you’ll be able to apply for First Direct or any other loan from our APR comparison table.
A First Direct loan lets you borrow from as little as £500 up to a maximum of £25,000. If you want to borrow more (or less) than this you’ll need to choose the “Compare” channel on this page.
You can apply for a First Direct personal unsecured loan online, in most cases receiving an instant decision. Whilst the credit acceptance criteria isn’t as tight as some, our data still shows that over 85% of online applications to “high street” lenders are rejected*, so you may want to make other applications (use our “Compare” channel to find other suitable lenders and apply online). You can use a First Direct loan for anything including consolidating existing debts, home improvements or a new car. Homeowners and tenants can apply but you need a very good credit history to qualify.
*Source: LoanExpert data, April-July 2006