The application form is completed from start to finish online, it couldn’t be easier than it is today. Start your application now.
The decision of the loan application is made quickly and you could have money in your account in just 15 mins.
Once completed the funds are paid directly and securely into your designated account, you don’t have to go to the bank.
Applying For Safe Loans Online
Almost anything can be done online, the problem is – not everyone is comfortable completing transactions over the Internet. Sharing personal and financial details, for instance, is not easy since you’re not able to see the actual person you’re dealing with. Meanwhile, the traditional method of borrowing an advance is lengthy and complicated. Direct lenders are stringent with their requirements and anyone with a bad credit remark is often rejected. That being said, is it still possible to find safe loans online?
Surprisingly, the answer is – YES! Despite the presence of scammers and loan predators, there are safe loans available for anyone who needs extra fund. The first thing you need to ensure, however, is that you’re dealing with a licensed loan provider. One thing that will help you avoid unlikely situations is to find out the red flags. Remember, you are exposed to different risks when borrowing money online, including:
- Losing Money
Scammers who are pretending to be “real lenders” aren’t there to provide financial assistance, rather obtain money from desperate borrowers. One of their strategies is to ask for an upfront fee before the loan application process but it won’t be long until the loan seeker realizes that he’s not getting any cash. On the other hand, there are those who have other agenda; rather than stealing money, they are after precious information so they can sell it to third parties or use it on their own interest. There’s a chance that you’ll end up as a victim of identity theft if you’re not careful enough.
- Paying Unreasonable Price
Meanwhile, there are loan predators who do offer a financial assistance; however, it comes with a very expensive interest rate and other charges. It is too unreasonable even if you’re suffering from a bad credit rating. As a result, most debtors are having a hard time repaying the loan, thus getting trapped in the vicious cycle of debt.
When borrowing money online, be sure to work with trusted lenders only. Take time to do a research or ask referrals from the people you trust and know. Loan applications over the Internet are one of the easiest ways to acquire confidential details such as your Social Security Number, birth date, etc. which can be used maliciously. Nevertheless, there are safe loans you can rely on when you need money to settle unexpected bills or just to tide you over the next month.
Choosing Safe Loans Direct Lenders
One way to prevent most, if not all loan-related concerns is to deal with the right loan provider. It takes time and effort to before you find a company worth working with. Before you submit an application online, shop and compare at least three lenders and find out as much as you can about them. Consider the positive and negative reviews and assess if they’re worth taking or not. Asking referral from the people you know helps as well.
Also, you can check the lender’s legitimacy with the responsible departments, such as the Financial Conduct Authority (FCA), to ensure that you can get nothing but safe loans. Meanwhile, try to avoid these scenarios:
- Receiving Unsolicited Phone Calls
You can never trace who’s on the line of the phone call is coming from blocked or unknown numbers. It’s also not easy to tell if the “lender” is from the same state or country you’re living in so to avoid getting scammed, do not entertain such calls.
- Opening Random Email
Just like unsolicited phone calls, getting an email from an unknown sender already rings suspicion. You don’t even know how they have acquired your email in the first place so the best thing to do is just ignore it.
Safe Loans For Bad Credit
Even bad credit borrowers are entitled to receive safe loans, therefore, no matter how desperate you are, do not rely on the first or only lender that will accommodate your request online. Avoid these red flags as well:
- Upfront Fees
Unless it involves a large amount, do not deal with a lender who asks for upfront fees just so the loan application can push through.
- Guaranteed Approval
It’s easy to fall for a lender who claims “100% guaranteed approval” but if you think about it, safe loans providers will always put themselves away from risks. Anyone who’s promising such approvals is likely scammers who will do everything to trap desperate borrowers.
- Request For Funds
Perhaps, you’re running out of cash or you need money that’s why you’re getting a loan, so it’s kind of frustrating and suspicious if you need to send money before you acquire financial assistance from lenders. One red flag is when someone asks for a money transfer via Western Union or MoneyGram. However, there are cases when a legitimate lender asks for an upfront fee and just to be sure that you’re on the right track, they will ask you to send the payment through a credit card or a paycheck.
- Unprofessional Sales And Services
Grammar errors are usual, however, if the lender’s website is full of misspelled words, it’s a strong sign that you’re dealing with fraudsters. They won’t bother checking on their sentences anyway because they’re only after your money or private details. Security errors from your browser is also a warning sign.
How To Find Legit Safe Loans Online
- Every loan has a contract and one way to find out about its legitimacy is by taking it to a lawyer for a review. Such professional can detect any red flag from the agreement in case it isn’t true. Also, lenders who are rushing you to sign the loan are less likely to offer safe loans. Licensed lenders will ensure that you read and understood the loan contract before signing up.
- To know if the loan provider is registered, contact the financial registration agency for confirmation. After all, every lender is required to register their business before they operate.
- Don’t be fooled by false claims, promising that an upfront fee will guarantee an approval. Safe loans providers will disclose fees and charge it from the loan amount you will receive, instead of getting the money from you directly.
The Lenders List
Loan amount £400 for 30days.Total amount repayable £459.36. Interest 180.5% p.a. (variable). Representative 728.9% APR
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
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
Ease Of Use
Value For Money
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
Ease Of Use
Value For Money
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
Ease Of Use
Value For Money
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)
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