Quick loans [UK]

You might be considering quick loans for any number of reasons and it’s important to understand what you are getting. Quick loans are extremely easy to apply for and within a few minutes you will be able to fill out a submission form that will give you wider access to nearly 50 direct lenders registered with the FCA who will be happy to review your loan application if it meets the basic criteria.

It doesn’t matter wether this is for a short term purpose or emergency, its important to get a good deal. That starts with a solid understand of quick loans and the benefits as well as pitfalls. It’s always important to ensure you take any loan seriously and consider it carefully just as lenders will to avoid financial issues down the line. There are always pitfalls when you use fast loans so please borrow responsibly.

What are quick loans?
Where can I get affordable quick cash loans online?
What is the best quick loans for bad credit?
Are these loans for fast money and emergencies?
Comparing quick loans online?

What are quick loans?

Quick loans will allow you to apply and gain access to finance ‘quickly’ if your financial situation allows. This type of loan normally takes a few minutes to fill out the form and from there, not much more than fifteen minutes to gain approval if your finances are in order. The process for smaller loans involves the lenders reviewing your application and responding with a decision. If the decision is to offer you a loan then you’ll need to carefully review the terms of the offers and check that you’re happy with them. From here they will perform a credit check to ensure that your finances are in order and then the funds can be released instantly after this. Overall, in the simplest of examples it shouldn’t take that long to get an answer or reply.

Where can I get affordable quick cash loans online?

If you search online for loans you will find many options. Depending on your credit rating you will have access to different loan options. If your credit rating is good then you might not not want to look at quick cash loans. It might be better to apply directly with the bank or traditional lenders who want the very best credit customers. If your credit isn’t perfect then same day loans may be ideal for you but always be sure to check that the offers your receive are affordable. While lenders will do everything in their power to ensure you cannot borrow unaffordable money, if they do not have a complete grasp of your situation from your application things can go wrong so please be as truthful as possible so they can protect you from a cash loan you can’t afford.

What is the best quick loans for bad credit?

Finding the best quick loans for bad credit will depend entirely on your personal circumstances. Bad credit loans are part and parcel of the world we like in now and there are dozens of specialist lenders that will be glad to receive your application. Before you takeout a bad credit payday loan though, you need to consider how you’ll get paid quickly. If you have bad credit the best thing to do is ensure that you are completely honest about your situation, don’t worry, these loans have high acceptance and honesty is a big part of being assessed correctly. Lenders will credit check you to make sure you have the ability to repay and that any finance they offer is affordable. It’s a part of the requirement of being registered with the Financial Conduct Authority to ensure checks are carried out. So when considering the best loans, it’s important to understand that you are what makes the loan good, not the lender.

Are these loans for fast money and emergencies?

Yes if you need emergency loans or fast money then there’s every chance you will be able to borrow money. Once of the most important things to gaining a quick loan is that you ensure you meet all of the basic criteria for a loan application to be accepted. These are pretty simple criteria. You need to be over 18 with a job as well as a UK bank account. You need to be a UK resident and it’s handy to have a mobile phone that will allow you to accept or review loan applications.

Comparing quick loans online?

When you look at the different types of quick payday loans online, it is important to make sure that you compare them carefully. Different financial products are in place because so many people have different circumstances. It is then practically impossible to wave a wand and catch every single financial scenario with just one financial product. That is why you find so many variations of loans so please take a look at the chart below to decide what product is best for you.

How quick loans online in the UK compare?

Quick Loans: how much?

Short term loans: how many months?

Bad credit loan applications considered?

Monthly APR Interest Rate Representative 1266%

£100 loan

3 to 6 months Yes 24%

£200 loan

3 to 6 months Yes 24%

£500 loan

3 to 9 months Yes 24%

£1000 loan

3 to 12 months Yes 24%

What can I do if I was given an unaffordable loan or poor guidance?

The guidance for lenders is very clear and loans must be affordable for the consumer. They must ensure they have checked and followed in line with the guide for consumer credit from the Financial Conduct Authority and if you would like to understand this guidance please read the link provided. The rules are not complicated but are very clear and easy to follow as to avoid providing consumers with unaffordable loans. If for whatever reason you believe that you have been given an unaffordable loan then you have the right to complain to the Financial Ombudsman. They will see if they can help your situation by checking the lender followed all correct procedures.

Do I need a guarantor for quick money loans?

Yes you can get no guarantor loans when applying for quick loans. The key to not needing a guarantor is your financial situation. If you have other debt or other outstanding loans then the chances of being able to afford credit or receive it are almost certainly not favourable. This is where a guarantor loan can help because the lenders can check the guarantor. If they believe the guarantor is financially sound and you personally believe you can repay. It’s then possible they will accept your loan application and review it carefully to ensure affordability. While these are far from a guaranteed loan, it is almost certainly one of the better options for those with a poor credit history.

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