Shawbrook and Bamboo have both been confirmed as early adopters of the online loan marketplace, LoanTube.

Launched in the UK two months ago, LoanTube has helped borrowers across the country take back control of their finances with a real-time proprietary loan matching engine. It connects the right borrower with the right lender and displays actual APRs (Annual Percentage Rate) and monthly repayments for the individual borrower.

This means that the price the borrower sees when selecting a loan is the price they pay, in contrast with standard comparison offerings which display a best rate then return a more personalised quote, often at a much higher APR.

It also provides a single application, real-time processing and online approvals.

Gurprit Singh Gujral, founder of LoanTube, said: “Our new partnerships with Shawbrook and Bamboo are testament to our commitment towards offering a more straightforward loan application process, greater transparency and better choice for our UK customers.

“This is a vision shared by LoanTube and lender partners, and we look forward to welcoming other notable financial product providers to our lending panel in the coming months.”