Lendwise is a specialist loan provider dedicated to education finance for UK residents who are looking to fund their courses at leading UK educational institutions.
The interest rate offered will depend on the overall applicant profile.
There are no penalties for repaying your loan early and the application process is entirely online.
- Borrow £5,500 towards your course fees
- Loan Origination Fee £250 (added to your loan)
- Interest Rate: 10.0%
- 48 monthly repayments of £145 each
- Total Amount Repayable £6,940
- Representative APR of 10.5%
Eligibility and application process
Ledwise require their borrowers to be UK residents and have a clean credit record. The application process is entirely online and comprises the following steps:
Complete the online form. Please note, this does not affect the student’s credit score.
Lendwise reverts within 2 business days with an email quote (or a decline if they are not approved) which has all the info of proposed loan terms.
Student “accepts” the offer (the acceptance doesn’t bind them, but moves their loan to the next stage).
Student uploads a limited number of documents related to their application.
Documents get verified by our Documents Verification Team.
Once all docs are approved, the loan gets funded.
Once funded, the student receives a loan agreement to sign (this is the binding agreement).
Once the loan agreement is signed, funds are disbursed according to the schedule previously agreed.