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Unsecured Personal Loan ratings announced

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Rachel Springall, Press Officer
Rachel Springall, Press Officer / Finance Expert T: 01603 476210 E: Email Rachel
15/12/2021

A stellar year for the Moneyfacts Unsecured Personal Loans Star Ratings 2022

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2022 for Unsecured Personal Loans.

  • There were 19 Five-Star and 9 Four-Star Ratings awarded in the unsecured personal loan market for mainstream lenders.
  • For 2022, the size of the market for both categories has remained consistent with an increase of just one product from last year and the number of Five-Star and Four-Star Ratings awarded unchanged from the previous year.
  • Over 35 fields of information are assessed per individual product.

The products awarded Five or Four-star ratings offer the most comprehensive range of standout features and competitive limits, which set them apart from the rest of the market.

The instantly recognisable Moneyfacts badge of quality for over 30 years helps inform consumers comparing unsecured personal loans.

Nine out of 10 people agree that a Star Rating from an independent and impartial company could influence their decision in considering taking out a Financial Services product.* (*Source: Moneyfacts Group plc, Financial Services online consumer survey 4/21)

A stellar year for the Moneyfacts Unsecured Personal Loans Star Ratings 2022

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2022 for Unsecured Personal Loans.

  • There were 19 Five-Star and 9 Four-Star Ratings awarded in the unsecured personal loan market for mainstream lenders.
  • For 2022, the size of the market for both categories has remained consistent with an increase of just one product from last year and the number of Five-Star and Four-Star Ratings awarded unchanged from the previous year.
  • Over 35 fields of information are assessed per individual product.

The products awarded Five or Four-star ratings offer the most comprehensive range of standout features and competitive limits, which set them apart from the rest of the market.

The instantly recognisable Moneyfacts badge of quality for over 30 years helps inform consumers comparing unsecured personal loans.

Nine out of 10 people agree that a Star Rating from an independent and impartial company could influence their decision in considering taking out a Financial Services product.* (*Source: Moneyfacts Group plc, Financial Services online consumer survey 4/21)

This year’s Five-Star awarded providers include:

HSBC, NatWest, Sainsbury’s Bank and TSB.

VIEW THE FULL LIST OF 2022 AWARDED UNSECURED PERSONAL LOANS PRODUCTS – PLEASE CLICK HERE.

This year’s Five-Star awarded providers include:

HSBC, NatWest, Sainsbury’s Bank and TSB.

VIEW THE FULL LIST OF 2022 AWARDED UNSECURED PERSONAL LOANS PRODUCTS – PLEASE CLICK HERE.

Samantha Owens, Star Ratings & Personal Finance Analytics Manager at Moneyfacts, said:

“As the new year begins many consumers look to review their financial position, with a personal loan becoming an option for many who want to simplify their monthly repayments.

“The Moneyfacts Annual Star Ratings for unsecured personal loans look beyond the headline rate on offer, evaluating the other aspects of the loan that could be of benefit to the borrower. The highest ratings will be awarded to those with the most flexibility, looking at features available during the term of the loan which may help longer term with managing finances, along the application process and any charges the applicant may incur, which can help individuals filter down for their own specific needs.”

Samantha Owens, Star Ratings & Personal Finance Analytics Manager at Moneyfacts, said:

“As the new year begins many consumers look to review their financial position, with a personal loan becoming an option for many who want to simplify their monthly repayments.

“The Moneyfacts Annual Star Ratings for unsecured personal loans look beyond the headline rate on offer, evaluating the other aspects of the loan that could be of benefit to the borrower. The highest ratings will be awarded to those with the most flexibility, looking at features available during the term of the loan which may help longer term with managing finances, along the application process and any charges the applicant may incur, which can help individuals filter down for their own specific needs.”

Unsecured personal loans

Numerous features are considered when assessing the ratings, and some of these include:

Unsecured personal loans

Numerous features are considered when assessing the ratings, and some of these include:

  • Footprint free quote
  • Instant decision
  • Application methods
  • Early repayment charge
  • Deferment periods
  • Minimum and maximum advances
  • Minimum and maximum terms
  • Payment methods
  • Overpayments without early repayment charge
  • Footprint free quote
  • Instant decision
  • Application methods
  • Early repayment charge
  • Deferment periods
  • Minimum and maximum advances
  • Minimum and maximum terms
  • Payment methods
  • Overpayments without early repayment charge
  • Debt consolidation limit
  • Incentives
  • Joint applications
  • Loan top-up options
  • Online statements
  • Payment holidays
  • Risk-based pricing
  • Same day funds
  • Unpaid charges
  • Debt consolidation limit
  • Incentives
  • Joint applications
  • Loan top-up options
  • Online statements
  • Payment holidays
  • Risk-based pricing
  • Same day funds
  • Unpaid charges

Notes to editors

Pioneering financial comparison technology for over 30 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts’ Star Ratings highlight the best quality financial products available based on an assessment of all their features and criteria. Moneyfacts Star Ratings logos act as an independent and impartial badge of approval and help customers easily spot which are the better deals to help them make important decisions with confidence.

The growing range of products currently assessed includes:

  • Personal Current Accounts
  • Personal Credit and Charge Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Ethical Fund
  • Equity Release
  • Critical Illness
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loan.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Notes to editors

Pioneering financial comparison technology for over 30 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts’ Star Ratings highlight the best quality financial products available based on an assessment of all their features and criteria. Moneyfacts Star Ratings logos act as an independent and impartial badge of approval and help customers easily spot which are the better deals to help them make important decisions with confidence.

The growing range of products currently assessed includes:

  • Personal Current Accounts
  • Personal Credit and Charge Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Ethical Fund
  • Equity Release
  • Critical Illness
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loan.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

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Rachel Springall Press Officer / Finance Expert
Eleanor Williams Press Officer / Finance Expert