£1500 Loans Online
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Loans for £1500 come in many forms from standard unsecured/personal type loans to guarantor or even logbook type loans. We know this can be confusing so we will help take the stress out of all the searching for you.
How To Find The Best £1500 Loan In the Market
When budget gets a bit tight and you don’t have much savings, a loan could get you through tough times. And sometimes, you don’t really need a huge amount to borrow. £1,500 might be just enough to cover for whatever expenses you have to deal with urgently.
1500 loans are the perfect solution to handle unplanned expenditures such as urgent repairs at home or with your car, groceries, unexpected trips, medical bill, and so on. With 1500 loans, the amount is enough to pay off what you need to settle and could possibly leave you some extra cash, too. If this interests you, read on to learn more about 1500 loans.
What are 1500 Loans?
1500 loans are normally short-term loans because it’s not considered a particularly high sum of money in terms of lending, and so it can be settled in a short period.
1500 loans are oftentimes unsecured loans that don’t require credit profile of the potential borrower. This means that you can apply for 1500 loans with no credit check to the private lender. These loans requires no collateral, and it’s a sort of a risk for lenders. This is the reason why majority of 1500 loans have high interest rates.
Usually, you can expect a one-month repayment period from these lenders. Depending on the lender, the repayment period can be up to two months or less than a year. However, some lenders have flexible loan terms, offering longer repayment period to provide whatever works best for your situation.
Getting 1500 loans with Bad Credit
It’s has become a trend with 1500 loans being the loan of choice for people with low credit scores. If you’ve missed on payments in the past and even experienced bankruptcy, then usually a loan of up to £1,500 can be the easiest way to gain access to some extra cash. And, repaying the loan on time can be a good way to boost your credit score.
Having a poor or bad credit history and having thin credit or no credit at all can be a hindrance for securing 1500 loans. However, you’ll still find lenders who are willing to offer you 1500 loans. Whatever reasons you have for the loan, you could find the support you’re looking for.
Lenders offer different repayment options on 1500 loans, which means you could get a loan and pay it back over periods ranging from one month to even sixty months. The application process is quick and straightforward. And what’s even better is, applying online for a quote on our 1500 loans will not affect your credit score, as most online lenders will not have a hard pull on your credit record.
What are the Requirements for Getting 1500 Loans?
Online lenders do not have long application processes for 1500 loans. As long as you will be able to provide proof that you have an income and your bank account is in good standing, you can generally get a loan approval. Once the lender reviews your application and approves you, you can get the money deposited into your account within 24 hours.
If you are self-employed, you should provide proof of your income as well. It’s also possible to qualify for 1500 loans if you are unemployed or on benefits. If you don’t have a job, but can provide any social benefits, it would be a great advantage. As long as you provided all documents needed, you can expect that your loan application will go fast and smooth.
Ways to get 1500 Loans
Banks usually offer the lowest rates, especially if you have a good credit record. Banks also offer other benefits and good features of the loan if you are their existing customer.
You can also take out 1500 loans from credit unions, which are more lenient than banks. Credit unions are non-profit organizations. You just need to be a member first to qualify for a loan.
Peer-to-peer or P2P lending companies are also a great source of 1500 loans. With P2P, you’ll be borrowing from investors who are willing to take the risk of lending you the money. However, the interest on these loans are slightly higher than that of banks and traditional lenders.
You can also find 1500 loans typically offered by payday loan private lenders. You can have the loan repaid in just two weeks or one month or when your paycheck arrived. However, be aware that the interest are usually ridiculously high.
Best Practises for Getting Any Type Of Personal Loan
Remember to practice responsible borrowing when taking out 1500 loans, as they usually come in high interest rates. Resist the temptation of borrowing more than what you need. Pay the monthly dues on time to avoid fees and further damage on your credit record.
If you could pay the loan off early without any extra charges, do so to limit your interest fees. If for any reason you cannot make a repayment, call the lender immediately so they can remedy the situation and discuss your options without getting into a deeper financial trouble.
Keep in mind though that there are many loan sharks and scammers abound, so take time to find out more about the lender you’ll be working with. Check whether the lender is legitimate and authorised to operate. Read the terms and conditions thoroughly, and make sure you understand every aspect of the agreement.
Make a comparison between lenders so you can get the lowest loan cost possible. Compare not only the rates and fees, but also other features of the loan. Ensure that there are no hidden fees.
Understanding The Loan Process
1500 loans are one of the quickest ways to get your hands on some much-needed, last-minute cash. If you’ve run out of your money from your salary for the month and your next payday is still too far away, 1500 loans are a way of obtaining some money quickly. Unlike applications for bank overdrafts or credit cards, which can be a long and drawn out process, applying for 1500 loans, which are short-term and unsecured loans, can be quick, easy, and hassle-free.
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
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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.