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Online

The application form is completed from start to finish online, it couldn’t be easier than it is today. Start your application now.

Quick

The decision of the loan application is made quickly and you could have money in your account in just 15 mins.

Secure

Once completed the funds are paid directly and securely into your designated account, you don’t have to go to the bank.

Online Loans For Urgent Expenses

Loans have existed for quite a number of years but most people are still drawn to borrowing from the people they know, such as their friends and families. They think that it’s faster and less complicated since no requirements or interest fee are involved. However, this idea is not feasible at all times.

When falling short of cash or dealing with an emergency, online loans are of great help. Indeed, you need to comply with the lender’s requirements; however, it’s not as hard as the traditional way of taking out a loan. In fact, all you have to do is to fill up a 2-minute application form over the Internet with your personal and financial information, including the name, employment details, bank account, etc.

The details provided will be verified via a phone call or email and once granted, the money is sent to your bank account electronically. For life-threatening scenarios or other unexpected expenses, this is one handy solution. It also saves you from the embarrassment of constant borrowing from the people you know. If you have little to no savings, online loans can help you financially survive over the next month or on your next payday.

why choose online loans

Online loans normally offer a decent amount which is usually settled over a short period of time. Depending on the lender’s terms and conditions, you can borrow an amount ranging from £100 – £1,000. The short-term loan is usually due after a week or up one year. Loans over the Internet are easier to acquire compared to banks and traditional lending facilities. Often, it will require a bank account and a stable source of income to be qualified. This reduces the lengthy loan application process involved, gives you enough privacy, and not to mention, the comfort of getting it without leaving your post.

The amount provided through online loans cannot be used for long-term financial planning or to purchase properties like a house or a car; however, it can be used for urgent expenses such as car repair or medical bills.

When you suddenly lose a job and have limited savings, online loans can give the financial support you need when looking for a new work. There are lenders who are willing to accommodate unemployed individuals providing that they’ve only been unemployed for less than 6 months. In fact, most of them are very lenient and they may allow the loan seeker to repay the loan after they are hired.

Is A Good Credit Score Necessary for Online Loans?

The borrower’s credit report is crucial for most lenders to be qualified. It contains all the necessary details of the borrower, including the Social Security Number, the accounts involved, and the current amounts of each debt, thus helping lenders to determine their creditworthiness.

As the borrower, it is also important for you to get a free copy of your credit report and check it before sending a loan application. Although most online loans will not demand a good credit score, it’s still best to fix it before you apply. After all, having a bad credit score implies a bad behavior because of the financial mistake/s you have in the past, such as arrears, late payments, defaults, bankruptcy, CCJs, or foreclosure.

Having a copy of your credit report will also give you the chance to fix any inaccurate details entered to your account. Meanwhile, it the poor credit score is due to your own negligence, be sure to settle all the debts before you apply. It’s a lot of work and may be time-consuming but it’s worth in the long run, especially if you want to score a cheaper loan amount.

On the other hand, if you can’t work on your credit score for the meantime, there are still online loans providers willing to accommodate your application, regardless of your credit rating. The options may be restricted and not as pleasant as the ones offered for excellent credit rating borrowers, but at least you have the financial support you need in times of distress.

Choosing Online Loans Direct Lender

Most online loans are offered by direct lenders, thus keeping the entire loan application process smooth and rapid. They have a direct decision over the loan since they do not work like the middle person. This allows you to complete the application and get the fund in an instant. But even if you’re in a rush, it’s crucial to find out everything you can about the loan provider first.

To find the best online loans company, doing a background research beforehand is important. Shop for at least 5 companies online; avoid settling for the first lender you see or often hear. Instead, compare using their Annual Percentage Rate (APR) – or the overall amount you need to pay including the principal rate, interest and fees; check out who provides the most flexible repayment term and policies; learn more about their customer service. Doing all these will help you find who offers the best deal.

More About Online Loans

Online loans have a lot of benefits to begin with, and one of which is the accessibility. It can be accessed using a laptop or even a mobile device and a solid Internet connection. This means that you can do it anywhere – in the comfort of your own home, a restaurant, or while inside the office. The best part is — maximum security is provided on every licensed lender’s website, thus keeping your personal and financial information safe and protected.

Online loans won’t require any valued items like a car, house, or even jewelry, thus making it a good alternative if you don’t want to lose your property or you have no collateral to surrender.

The downside, however, is that it cannot be used when you need a larger loan amount. In addition, the most loan provider will ask you to provide the entire loan amount in a short period of time. If you cannot give back the repayment, your credit score is at risk of being damaged. As a result, creating a new line of credit is more difficult in the future.

why choose online loans

The Lenders List

Loan amount
£100 - £5,000
Loan term
3 - 12 Months
CUSTOMERSCORES
Good
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Loan amount
£100 - £3,600
Loan term
3 - 12 Months
CUSTOMERSCORES
Excellent
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Get Matched with a Qualified Lender Today!

You will need to be over 18 and a UK resident with a valid UK address.

You must also have a monthly income (from benefits or a job) and a UK bank account.

5 most recent personal loan reviews

Review of Wage Day Advance

After being turned down everywhere for a loan even know I had more than enough coming in my bank to repay I was being turned down. Then my last hope was Wage Day Advance. They don't judge by previous mistakes in life they were simply looking for a promise of payment which I said I can do. I used a close and helpful friend to cover my back and we had the money In my bank account within 2 hours! Guys if your like me and seriously need that debt consolidation then these guys will help you out! Highly recommend! Best company by far.

Review posted by Benn Stokes, Peterborough

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Compare The Market

Fantastic service from compare the market! Application was quick and easy. The website is very straight forward and the staff are very friendly, polite and helpful.

Review posted by Jade Woodward, York

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of UK Fast Loan

The process was very quick and customer service I received was 10/10, rate and interest are not ridiculously high and I was able to pay off all the debts and clear them, I would definitely recommend them to anyone!

Review posted by Hannah Wright, Swindon

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
All reviews have been sourced from Trust Pilot to ensure an entirely nonbiased basis of accounts.

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

Please note:
Loanora is NOT a lender – we are a licensed broker working with the most popular direct lenders in the market to find you the most suitable short-term loan plan. Our FREE quoting service compares more than 40 lenders quickly and finds you a lender with the lowest rate that they are willing to lend to you today.

Rates from 45.3% APR to 1575% APR – we provide a no obligation quote, your APR will be based on your personal circumstances