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Virgin Loans

Virgin Loans will lend you £2,000 to £25,000 for any reason: "As long as it's legal, we don't care," claims the site. Interest rates are good – 7.9% for loans of £6,000 and above – and the quote form is simple. However, the firm promises a decision the next working day, not immediately.

About Virgin Loans

Virgin Loans are part of the Virgin money empire, which brands itself as younger, funkier and more punter-friendly than stuffy old banks. That's reflected in the site design, which keeps the nonsense to a minimum and tells you everything you need to know.

The quoted APR of 7.9% applies to loans of £6,000 and more, although if you need to borrow more than £25,000 you'll need to give Virgin Loans a call. For loans under £6,000, the APR is a higher – but still reasonable – 10.9%. You can borrow for any purpose at all - "as long as it's legal, we don't care," the site chortles – and repayment periods can be from 12 to 24 months.

The site is simple to use and the application form is friendly enough; you also get a decent loan calculator that helps you work out whether you can afford the repayments. However, one thing we didn't like about the Virgin Loans site is the actual decision-making process. Instead of an instant decision when you apply online, the firm promises to get back to you within one working day. It's not a huge annoyance but in these days of instant decisions, it's still irritating. Then again, the low APR is probably worth waiting for. helps you find the best loans companies for your specific needs, and gives you background information on the various types of loans available in our loans articles, more loans articles and still more loans articles.

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