When emergency finances are required, a variety of scenarios make good candidates for short term loans UK. A short term loan is not to be used for anything other than unexpected expenditures or obligations. When they don’t have the money or credit available to pay the payment, many people use them to cover maintenance costs or other urgent financial problems. A cheap loan with affordable installments spread out over a few months can help you settle a short-term financial problem before the start of your next pay period if all other choices have been exhausted.
For new customers, we offer short term loans UK of up to £1000. You are eligible to apply for a loan up to £2,500 if you have previously borrowed from us and successfully repaid your debt. There is no assurance that you will be approved for the loan amount you select; approval is contingent upon credit and affordability checks. Only request the loan amount necessary to pay your immediate expenses. To make sure the loan is affordable for new customers, we set the maximum amount at £2500. You are welcome to reapply in the future for a bigger amount if necessary after making a full repayment and earning our trust.
For brand-new clients taking out their short term loans direct lenders from us, we offer loan periods of up to 8 months. This is the maximum duration, and depending on your situation, you can opt to pay back in weekly or monthly installments. If the initial loan has been paid off in full, returning customers can select repayment terms up to 12 months when taking out another loan. We cannot guarantee that you will be authorized for the longest payback term possible because the term you select is dependent on status. Always try to repay over the shortest time period you possibly manage.
Do Short Term Loans UK Require a Credit Check?
Yes, you can contact us if you can afford to return the loan amount in full sooner than the payback term. Your Customer Care Manager can give you an early settlement amount by speaking with you. As long as this does not push you over the 0.8% daily interest penalty, you will only be charged interest for the days you borrowed past due as well as a £10 early payback cost. Contact us to acquire an early settlement quote since you may find that paying off the short term loans UK direct lender early can often result in some overall financial savings.
Our short term cash loans may be acceptable for borrowers with a poor credit history because we can accept applicants with a variety of credit histories. We can’t guarantee that a loan will be authorized before the required affordability and credit checks have been done. Our lending alternatives might not be appropriate for you if you are experiencing long-term financial troubles. If you have bad credit, you will need to show that you can afford the loan and the needed repayments. If you do not have affordability and further borrowing will put you in financial problems, we will have to turn down your application.