How do you find Instant Loans in the UK?

March 5, 2019 Off By Houdy1966

Many individuals and families around the UK will find themselves needing access to short-term loans to deal with a financial emergency or unexpected expense. It is not uncommon for these sorts of financial emergencies to befall you at certain points of time, whether through a car fault, a broken boiler, damage to your home or a medical situation.

Any time one of these situations comes about, it can be difficult to meet that expense if you don’t currently have savings in place, so you may well need to consider the option of a short-term loan that can be offered as soon as possible and on the best available terms.

There are various ways to go about finding your instant loans UK option, with two of the most common being to contact a lender directly yourself by phone, email or website form, or alternatively to make use of an online loan broker who can look at your desired lending terms and then search across all of the loan options and lenders on their database before providing a quote from the one that suits your financial needs best.

Should you make use of an online personal loans broker, they will be able to take into account your selected loan requirements and then deliver you a quote alongside information on who the lender is who provides this quote. Should the financial terms be acceptable to you, you can move forward with applying for this quote, as long as you are able to meet a few basic criteria, which include:

– being at least 18 years of age

– having valid phone and/or email contact details

– having a valid UK bank account

– having regular income going into that account

– not having any current insolvency arrangement against you

At this point, if you fulfil all of these requirements, and the lender have run a check on your credit – bad credit will not necessarily stop you getting a loan, but could affect your APR – then they will come back to you with an unsecured personal loan agreement for the loan in question.

Should you decide to accept this agreement and take your loan, you could have the funds deposited into your bank account within as little as 15 minutes, depending on internal bank processes in each case.

It is worth noting that you should always think through the financial impacts of taking on a short-term loan and ensure that you are in a realistic position to pay it back, but in many cases, it can be a viable financial solution to a sudden expense, without having to resort to payday loans and/or bank charges for entering your overdraft or even going past your overdraft limit.

As you go on to look for loans online, we hope that you find this summary useful and that you’re able to find a personal loan option which suits your financial needs.