Many or all of the products and brands we review are from our partners who compensate us. This may influence which products we write about and the product we choose in our ‘promotion’. However it doesn’t influence our reviews. Our opinions are our own.
At NerdWallet Ltd UK we base our reviews & ‘Best Of’ pages’ on the results of surveys we undertook about what was important to people that use these products. This allows us to look at products impartially of any commercial arrangements we have, and fairly rate the products on the same set of criteria.
Many or all of the products and brands we review are from our partners who compensate us. This may influence which products we write about and the product we choose in our ‘promotions’.
Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible but it is likely there are others available that we have not reviewed. The review is our opinion, but it does not constitute advice, recommendation or suitability of your financial circumstances
What does ‘Best’ mean?
Best means ‘our best’, and is based only on what products we have included in our surveys that forms the basis of our reviews and ratings. This means that there will be other products on the market that we have not included in our ‘best of’ pages. Best does not mean it’s best for you, nor does it mean the ‘cheapest’.
Methodology for Business Reviews
This methodology covers the data used for our reviews across the following verticals:
- Business energy
- Business loans
- Business insurance
- Business bank accounts
NerdWallet aims to gather survey feedback from at least 500 potential customers for each product type we provide reviews for.
For our business loans, business insurance and business bank accounts products, a pool of 500 potential customers were asked to complete our business product survey. Of the 500 surveyed for our business product reviews, all were business owners registered with the British government, with nine employees or less.
These 500 business owners were asked to select their top three criteria – from a list chosen by the NerdWallet team – for choosing the business products listed above. These choices were then combined to calculate a final ranking for the criteria included for each product.
From the same 500 business-owning survey respondents, we also asked those who owned their own business premises to complete the same process for the business energy products.
Once completed, the NerdWallet team used the results of the surveys to create a review to provide readers with a customer-guided insight into each product reviewed.
Methodology for Business Bank Account Ratings
NerdWallet evaluated and reviewed 10 business bank accounts from high street and digital-only banks. Collectively, these accounts represent the largest banks by assets and internet search traffic, along with notable or emerging players in the industry.
We considered more than 10 data points for each account, based on the criteria that matter most to users, scoring them on fees, accessibility and customer service, among other factors. This information was gathered from each financial institution’s website and company representatives. In addition, data is collected regularly and reviewed by our editorial team for consistency and accuracy.
Using the same data across all products and features we were able to create star ratings presented on a scale of one to five stars, where a one-star score represents ‘poor’ and a five-star score represents ‘excellent’.
Methodology for Personal Loans Reviews
For our personal loans reviews, NerdWallet surveyed 500 UK adults in February 2023 who have taken out a personal loan to get their feedback on what they felt were their most important considerations when choosing a personal loan product.
These 500 personal loan customers were asked to select their top criteria – from a list chosen by the NerdWallet editorial team – on different aspects of personal loans, including the loan flexibility and features, the application process and customer help and support. The results of the survey were used to help us to focus on reviewing the most useful criteria for consumers.
The NerdWallet team then focused on these final criteria to provide readers with a review that was guided by customer feedback.
Methodology for Personal Loan Ratings
NerdWallet has evaluated and reviewed more than 25 UK personal loan lenders.
We assessed 20 data points for each loan, based on the criteria that matter most to customers, scoring them on loan features, flexibility, application process and availability of customer support, among other factors. This information was gathered from each lender’s website, company representatives and independent financial product analyst Defaqto.
We regularly add new brands and our editorial team reviews them against the same criteria for consistency and accuracy.
Using the same data across all products and features we were also able to create star ratings, presented on a scale of one to five stars, where a one-star score represents ‘poor’ and a five-star score represents ‘excellent’.