Creation Personal Loan

238 reviews

9.9% Representative

Will lend between: £1,000 - £25,000

Over: 12 - 60 Months

Representative example: If you borrow £7,500 over 36 months at a Representative rate of 9.9% APR and an annual interest rate of 9.90% (fixed), you would pay 36 monthly instalments of £240.16. The total charge for credit will be £1,145.76 and the total amount payable will be £8,645.76.

If you work at Creation Personal Loan

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  • Quick 40 second form.
  • No impact on your credit file.
  • Free personalised eligibility score.
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Creation Personal Loan customer reviews.

238 reviews

1.5 out of 5 stars

Never ever use
08:06 30-08-2018
ImageSmart Money People

Very Very slow, systems are poor, customer service is poor - they do not do what they say and still waiting 2 weeks later for loan agreement - terrible

tannin

Great service
18:47 22-06-2017
ImageSmart Money People

Customer service is excellent, always been so helpful

Emma Brunton

Great service
11:35 21-05-2017
ImageSmart Money People

Wonderful experience and easy to work with

Anton Pretorius

Stress free credit
13:44 07-05-2017
ImageSmart Money People

A stress free, easy to follow through every step.

Lucy Fletcher

Really happy
12:36 02-05-2017
ImageSmart Money People

Had a few different products with Creation now and have been happy with all of them

Chanette Kennedy

100
21:28 18-04-2017
ImageSmart Money People

Goood and very fast apply for me

Simona Pinkova

Easy,quick and painless transaction
18:17 30-06-2016
ImageSmart Money People

From finding out information about a loan to applying for it,I found stress free and easy to follow at every step.

Lucy Fletcher

Offering and rates are fine but communication needs improvement
09:49 05-05-2015
ImageSmart Money People

Having booked to have my front door and some windows replaced in my house from a service company they offered me the ability to pay in installments using a loan from Creation. The work was done quickly and there were no issues over my loan; however, communication from Creation in terms of confirmation over the loan, repayment amounts and repayment dates were not sent to me until after the work was done and even then the direct debit was set up without confirmation of what exactly was happening.

TheBobbyB

Our review of Creation Personal Loan

Creation aim to provide straightforward products and their personal loan fulfils this brief. Their website is easy to use, their application criteria are standard for the market and they offer a range of representative APRs depending on the amount applied for. As with like most other lenders just beware that the actual rate you're offered could differ from the representative APR that's shown on site. The reason being that the rate offered also takes into account your personal circumstances.

When applying for a loan with Creation you will need to have good credit history – no blemishes or slip ups. One thing that does differ from competitors is that you need to be over 23, the majority of lenders say you need to be over 18 or 21, so just bear that mind.

TrustPilot paints a somewhat of a negative picture of Creation, with a score of only 1 out of 5. These are mainly for their retail finance rather than their loans, but there are some complaints of disorganisation (including losing documents and getting personal details wrong) and missed payment charges, which is quite common.

Overall verdict: Creation are a decent company with a straightforward product. If you have good credit then Creation are worth researching if not then look elsewhere.  

Written by: Alex

Highlights

  • No set up fees
  • Instant decision made online
  • Detailed application
  • Jargon buster guide on website

Minimum criteria

  • You will need to be ages between 23 and 70
  • You must have a minimum gross income of £12,000pa
  • You need a bank or building society current account
  • You need to have good credit history
  • Need to have been a permanent UK resident for at least three years

Fees

  • Maximum APR 28.9%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Creation Personal Loan

Creation offers personal loans between £1,000 and £25,000 which can be paid in fixed monthly increments over one to five years. They advertise a representative APR of 9.9% for amounts between £7,500 and £10,000 and this will change for higher amounts but there are no hidden or arrangement fees to pay.

To apply for a Creation personal loan you will need to meet a certain set of criteria. You must be aged between 23 and 70, you must have a minimum gross income of £12,000 per year (you cannot be unemployed) and you must have a good credit history, which means no CCJs or bankruptcy.

The online application can take up to 10 minutes to complete, but it can take a little longer if you speak to one of Creation’s phone team. You’ll receive an instant decision whichever method you use and once you have sent back your signed agreement the funds should be in your account within five working days.

Company information

Registration number: 01091883

www.creation.co.uk/loans

0371 402 3419

Chadwick House, Blenheim Court, Solihull, West Midlands B91 2AA

FCA registration

Reference No: 006332

Trading names: Creation Personal Loans

Place of business: Chadwick House Blenheim Court Solihull West Midlands B91 2AA

Data protection registration

Registration No: Z7177090

Data controller: Creation Financial Services Limited

Address: Chadwick House Blenheim Court Solihull West Midlands B91 2AA

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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk