Why People Choose Us
You might be surprised to hear just how easy it is to apply for a short term or personal loan. Furthermore, you don’t even have to leave your chair to apply for it. Instead, you just simply fill out our very short form and if you are accepted by a lender you’ll get your loan by the next day.
Emergency situations can happen anytime even to the best of us and oftentimes it strikes in the moments when we least expect them. This is because no matter how carefully we plan our finances, sometimes life just throws us a hardball that keeps us off balance. The car suddenly breaks down, your child gets rushed to the hospital, or there is an important expense that you need to pay off but the money left in your account is not enough to cover them. In these instances, taking out instant loans could be the solution you need.
Instant loans from direct lenders
By taking out an instant loan from a direct lender, you are not only ensuring that you obtain the funding that you need when you need it the most, but also guaranteeing that it’s from a legit and reputable source. There are numerous direct lenders both online and offline that offer different instant loan services in the UK but you want to choose the one that is the best and below you will know how.
Reputable direct instant loan lenders
When you want to borrow money from a direct lender, you need to choose a company that you can trust with full confidence. This means that there should be no lingering doubts in your mind on the lender’s credibility and its ability to provide you with the quick funding that you are looking for. With that being said, here are some of the things that you can look into to find the best company for your loan’s needs:
- Superb customer service – You should evaluate how a lender responds to their customers if you want to enjoy a loan product that is comfortable to you. Try to see how a potential lender treats their customer especially in times of problems and issues. Does the lender cater questions and concerns with great professionalism? If they do, then it would be a positive sign on how they care for their customers.
- A Legit direct lender – The lender you choose should be 100% legit and authorised by the FCA or Financial Conduct Authority. You can determine if a company is FCA licensed by going to the FCA’s website. Normally though, lenders will advertise their FCA license in the bottom most portion of their website and this is something that you should look into before you make an application.
The best direct lenders for your instant loan needs
But trustworthiness is just one thing that you need from your lender when you are considering on taking out an instant loan. There are also a couple of things that you need to consider to ensure that you are partnering with possibly the best company for your funding needs and they include:
- A specialist lender – Instant loans are unique financial products and not all lenders can provide them. It takes banks and other traditional lenders a week or more to process your loan application and they may not be the ideal avenues if you are in dire need of a loan. With that being said, try to look for companies that specialize in providing borrowers with unique loans that can provide instant funding in a day or two after a successful application.
- Offers Online Applications – The beauty about online applications is that they simply makes thing a whole lot easier, quicker, and more convenient in your part. If you are in an emergency situation, you simply don’t have the time to drive around town jumping from one bank to the next, fall in time consuming queues, and do hectic paperwork. With an online application, you are relieved from all these taxing ordeals and you can even complete one right at the comfort of your home.
Lastly, find a lender that can cater your need for instant funding based on your unique circumstances. Are you unemployed and living under government benefits, a bad credit applicant who has had credit issues in the past, or a self-employed single parent who needs a quick and reliable loan? There are lenders that can lend you the money that you are looking for and tailor a loan deal that is ideal to your needs and present situation.
Instant loans in the UK that provide instant funding
Now if you apply for instant loans in the UK, there are certain information that you will need to provide lenders once you begin you application. There are also lenders that will conduct credit checks and there are those that don’t and this is something that you may want to look into depending on your credit situation. Normally however, you can become eligible for the financial products if you meet the basic eligibility criteria which includes:
- Age – You need to be at least 18 years of age at the onset of your application but there are lenders who require their borrowers to be aged 22.
- Exact address – You will have to share your exact address information in accordance to UK anti money laundering and fraud regulations. This will ensure that you are not using some else’s identity to obtain credit.
- Income details – Your income is the number one factor that lenders will look into to determine whether or not you can afford the loan and its repayments. Payslips and the like will be needed as proof of income. If you are self-employed, you will need to provide tax returns and bank statements for the past two years.
- Bank account details – Once your application becomes approved, the money that you requested for will normally be deposited into a designated bank of your choice which means you will need to provide bank account details to receive the approved loan funds.
Instant loans are normally unsecured short-term loans like payday loans but a competitive loan industry has paved the way to specialist online lenders that can offer borrowers with numerous different loan options. Some of the options that you can look into include:
- Instant loans with a guarantor
- Instant loans without a guarantor
- Instant loans for bad credit
The kind of loan option that will work best for you will depend on the amount that you need and your present circumstances as well. Below, we will discuss all three options so you will have a better understanding of each and some of the things that you might want to know to make the best decision.
Instant loans with a guarantor
Sometimes, the lender may require you to offer someone other than yourself to co-sign your loan deal so you can get approved of the instant funding that you are looking for. This can be especially true if you have a poor or none-existent credit history where you will be automatically considered as a high risk lender. To offset the kind of risk involved in your application, providing a guarantor can be viable option that you can consider.
The guarantor can be a family member or close friend who will agree to make your loan’s repayments if you miss out or default from them. With such a security in place, you can access guarantor loans for larger amounts, better rates, and flexible payment terms that are normally reserved for people with good qualifications.
Taking out instant loans with a guarantor in the UK
Just like any other type of loan, you will need to meet certain borrowing requirements to become eligible for an instant guarantor loan in the UK. The requirements can vary from lender to lender and whether you apply online or from a brick-and-mortar institution. If you choose to apply online, the application is faster and easier and your chances of getting approved are far better. The lender will also need to conduct some checks on you and your guarantor and these checks include:
- ID Check. Lenders will need to check you and your guarantor’s identification first before anything else. This could include confirming your current address through the bank account information that both of you provide. Social media accounts could also be checked to verify personal identification. There are also lenders who will personally call your guarantor to ensure that they are aware of the kind of loan agreement that they are potentially entering on.
- Affordability Check. Affordability is the most important factor in getting approved for any loan whether it’s a secure or unsecured one. After all, lenders would not want to provide you with a loan deal that is too expensive for you as it could potentially lead to some serious problems and issues such as late payments and defaults. With that being said, your bank account will be checked to determine your average monthly outgoings. There are also those that will require you to provide tax returns and payslips as proof of income.
- Credit Check. Credit worthiness is important as it give lenders an idea on how you managed debt in the past. If you have bad credit, this means that you have a problematic history of paying off debts automatically making you a risky borrower. While your credit rating will still be checked, it’s your guarantor’s credit rating that counts the most. If the person has an excellent credit rating, you can still get approved even if you have an adverse credit rating.
- Address Check. Lenders providing instant guarantor loans will always verify your present address as this is required by law. This will also help determine if you are a legal resident of the UK and are eligible to take out a loan in the country. Thus, when you move to a different location, one of the best things that you need to do so you can pass an address check from lenders is to make sure that you participate in all upcoming elections.
When an instant guarantor loan lender conducts these 4 important checks and have found out that you do not satisfy in any and all of them, you may be required to provide supporting documents to verify the information that you shared in your application form. This can include a valid ID like a passport, payslip to determine your income, and a recurring bill as proof of your address. If you manage to supply all these essential information, then getting approved would be easy.
Instant loans without a guarantor
While taking out a guarantor loan will certainly help you obtain that instant funding that you need, there are some challenges that come with the financial product. First, you will need to find someone who trusts you enough to enter into a loan agreement with you in which he will carry all the risk in the event of a default. And if you do manage to find someone who is willing to do it, that person will need to have a strong credit rating and income level among other requirements to become accepted. With that being said, if a guarantor loan seems like the wrong option for you, instant no guarantor loans are alternatives that you can consider :
- Logbook loans – The loans are secured on your vehicle like a car or motorcycle. You can still drive your vehicle as long as you make the payments on time and on the agreed terms and conditions as the lender will only be holding its V5 or logbook documents. The loan can allow you to borrow 50% of your vehicles trade in value with a payment term that can extend from 1 year to 3 years.
- Personal loans – The loans are unsecured which means that you don’t need to put up an asset like your vehicle or home to obtain them. The payments for the loans are normally fixed for every month but because of the risk involved, you will need to have a strong credit rating to become approved.
- Payday loans – The loans are offered in small amounts for short payment periods. You can take out a payday loan in the UK for as little as 100 pounds and as much as a thousand and pay it back after 2 weeks or in your next payday. People with bad credit can get approved and the loan amount can be transferred to your account in the same day.
- Doorstep loans or home loans – As its name suggests, the loans can be arranged right at the very comfort of your home. Once you made your application online or via phone, a friendly local agent representing your lender will visit your home to iron the details of the loan. Once you agree with all the terms and conditions presented to you and sign the loan contract, the money will be handed to you right then and there. The agent will then return to your home every week to collect the repayments of your loan.
Depending on the amount that you need and your creditworthiness, you can take out any of the instant loans without a guarantor mentioned above to satisfy your urgent need for funding. Be sure to check out the eligibility criteria that the lender requires for borrowers before you make an application to ensure a solid chance of getting approved.
Instant loans for Bad Credit
Instant loans for bad credit are what a lot of people in the UK rely on in times of emergency situations and cash shortages. This is because the financial products allow you to enjoy quick, same day funding even if you have an adverse credit rating. Normally, the financial products are:
- Quick and convenient – To apply for a bad credit instant loan, simply complete an application form in the lender’s website and wait for a decision that could take just several minutes of your time. The requirements are often minimal and the lending criteria lenient. If you have an income that can check affordability of the loan, getting approved would be easy.
- Easily available – The loans are designed for emergency use that’s why they are easily available any time of the day, anywhere you are in the UK. Lenders providing the loan products have secured websites that can cater applications from Smartphones, tablets, and computers. There are even those that provide text applications.
- Minimal requirements – As pointed earlier, the requirements needed to obtain the loans are few. As a matter of fact, even those who are unemployed and have bad credit can still get approved as long as they have a reliable source of income.
- Unsecured and Flexible – The financial products are normally unsecured types wich means that you don’t need to put up some sort of collateral to obtain them. They also have flexible payment terms that can be tailored to your needs and present circumstances.
Instant loans for bad credit are the quickest and easiest loan options that you can consider in the UK if you don’t have a stellar credit rating. There are also plenty of lenders who provide them online which means your options are plentiful and accessing them would be easy as long as you have a device that can connect to the internet.