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55 QUESTIONS ANSWERED
LAST UPDATE 27.06.2018

Frequently Asked Questions - Personal Loans

Q: Why should I use Personal Loans Now?

We have access to a panel of some of the most trustworthy personal loan direct lenders in the UK, via the Monevo Ltd. lending platform. When applying with us, your chances of approval will be much higher than when applying with a direct lender. We carefully select only the most suitable lenders with the best rates and highest chances of approval for you. We will always try to find you a direct lender who is most suited to your specific needs.

Q: Should I compare home improvement loans before taking one?

It is important to compare home improvement loans in the UK before jumping into using any personal loan lenders. Comparing home improvement loans will ensure you get the best rate available for you. When you compare home improvement loans, it is a good idea to look at the reviews to see how satisfied previous customers are with the customer service of the lender. When you apply for a high acceptance home improvement loan through Personal Loans Now, we compare different lenders for you using the Monevo Ltd. lending platform to find you the cheapest and fastest home improvement loan for your situation.

Q: Can I get best home improvement loans from Personal Loans Now?

Yes! The best home improvement loans are available for you right here, through Personal Loans Now! You can get access some of the best home improvement loans by improving your credit score before applying for a home improvement loan. Another way you can find the best home improvement loan for you is by comparing the interest rates and loan terms of different personal loan lenders to see which one would have the best and cheapest home improvement loan. We make it easy for you to compare loans at Personal Loans Now, by offering you a personalised table of the best loan offers suited to your profile. Apply in 3 minutes, compare loans, choose your lender, and we'll send them your application to approve. If approved during business hours, the money can be in your bank account as soon as today!

Q: Can I get low-interest rate debt consolidation loans?

Yes! We can get you low interest rate debt consolidation loans. When you take out a debt consolidation loan for poor credit, you want a low-interest rate so you can pay less interest overall for all your individual loans. Compare debt consolidation loan interest rates using our personalised table of offers best suited to your profile. Personal Loans Now makes it easy to get the low interest debt consolidation loan that works best for you.

Q: Can I get a debt consolidation loan online?

Yes! Personal Loans Now can get you debt consolidation loans online. Fill out our single online application from the comfort of your own home, and instantly receive a personalised list of the best loan offers on the market for your profile. We make it easy for you to compare the terms and interest rates of different lenders. When you apply for a debt consolidation loan online UK make sure that you understand the terms and conditions and always read the small print carefully before signing on a loan.

Q: What happens to my loan if I move away?

If you move abroad, the loan repayments will continue to be made from your bank account. However, if you are closing your bank account, please be in touch with your loan provider to make alternative arrangements.

Q: Why do I have to provide so much information on my application form?

We work with Monevo Ltd. lending platform to find you the most suitable direct lenders for your profile. The lenders needs to get to know you as an individual to fully understand your financial position and determine whether their loans are the best fit for you. The information that you give is private and confidential and is only used to provide them with an overall picture of the amount you can afford to borrow. This information will guide their decision on whether to grant your personal loan. We take your security seriously and we will only ever pass your information to another lender with your permission.

Q: Once I apply, how do you use my personal information?

Once you apply, we work with Monevo Ltd's lending platform to assess your application and find you the most suitable and trustworthy direct lenders for your profile. We'll instantly provide you with a personalised list of relevant loan offers that you can compare and choose the lender you wish to proceed with. We will send your application to the lender of your choice who will then decide whether or not they can offer a loan product to you. Your security is our priority, and we will never pass on your information to other lenders without your permission. Our website is also entirely GDPR compliant — read more about that here.

Q: What are logbook loans’ borrowing limits?

The amount that you can borrow on a logbook loan will depend upon the value of your vehicle. Typically, you can take a logbook loan starting from £2,500 until £25,000. In addition to the value of the car, reputable loans companies will assess your personal circumstances and your ability to repay the loan. Some lenders offer an interest-free first month and no payments until after two months. These offers might be convenient, but may add to the total cost of the loan. The first month interest-free is fine, but the second month’s interest will be added to the loan and will make it more expensive. It's important to read all the terms and conditions as well as compare interest rates for logbook loans online.

Q: Can I sell my car if I have a logbook loan on it?

If you have taken out a logbook loan against your car, you must NOT sell the vehicle. This action would be breaking the law, and the lender could take you to court.

Q: How much does it cost to apply through Personal Loans Now?

Nothing! We do not believe you should be charged just for putting in an application. With Personal Loans Now, there are no application fees, postal fees or fast funding fees. Any charges that you may receive will come directly from the personal loan lender that you are approved by subject to their terms and conditions.

Q: I am stuck with filling out my application, what should I do now?

If you have any questions or comments at all, we’d love to hear from you! You can contact us via the following; By phone: 020 3946 6777 By email: hello@personalloansnow.co.uk

Q: Is the interest rate for personal loans fixed?

The majority of personal loan companies offer fixed interest rates. This means that the interest rates on these personal loans from direct lenders stays the same throughout the term of the contract. However, some direct lenders do offer variable rates, which means that you could end up paying more – or less – in interest. Make a decision carefully, as you could save or lose a lot of money depending on your choice.

Q: How do I apply with Personal Loans Now?

All you need to do is fill out our simple online application form which will just take a few minutes of your time. To apply for any loan with Personal Loans Now, you must be:

  • a UK resident
  • over 18 years old
  • hold a UK bank account
  • have a regular source of income
We will ask you for some details, such as your home address, employment details and monthly outgoings. The more information that you provide on the application form and the more accurate it is, the faster the process will be.

Q: Are you a fully authorised firm?

Well, we're glad you asked. Personal Loans Now is a trading name of Western Circle Ltd., a fully authorised credit broker in the UK. We are registered on the Financial Services Register under reference number 714479 as well as with the Information Commissioner's Office (registration number Z3305234). We work with Monevo Ltd., an Appointed Representative of Quint Group, to bring each of our applicants personalised credit options. They are authorised and regulated by the Financial Conduct Authority under reference number 669450.

Q: How can I find the best personal loan?

The best personal loan for you are defined by your specific needs. The best loan for you will not necessarily be the best solution for other UK consumers seraching for 'best personal loans UK'. At Personal Loans Now, we understand this. With every loan application we receive, we do our very best to find a lender that will match your needs as closely as possible. Apply now and see how it works!

Q: Does Personal Loans Now offer joint loans?

At the moment, we do not offer the option of applying for joint loans with Personal Loans Now. Borrowing a joint loan means joint responsibility, which is not always a good thing. Luckily, if you apply with Personal Loans Now, you have a high chance of approval on your own since we work with a very large selection of UK direct lenders.

Q: Can I get long term loans from Personal Loans Now?

Yes. You can apply with us for long term loans and short term loans from 1 month to 10 years. Some lenders will be willing to offer you long term loans with no guarantor, but others prefer a guarantor if the amount requested is higher. As our lenders are FCA regulated, long term loans with no credit check and no guarantor are not available.

Q: Do Personal Loans Now offer loans for unemployed people?

Whether you are unemployed or employed, we just might have the loan for you. Personal Loans Now works with Monevo to provide loans for unemployed people too. You can get cash loans today for unemployed which do not require a guarantor, provided you do have a source of income. The same also applies to unemployed people on benefits. As a responsible broker, we cannot guarantee loans for unemployed or even employed people as all lenders must perform credit and affordability checks as set down by the FCA.

Q: Where is your office based, and what are your opening times?

Our registered office is located at 2a Highfield Avenue London NW11 9ET and we are open from Monday to Friday, 9:00 am – 5:30 pm. Feel free to contact our professional customer support team about your application or any other general queries via phone or email. Our office is closed on weekends and public holidays, a list of which can be found here.

Q: How much money can I borrow?

With Personal Loans Now, you can borrow from £1000 up to £250,000, depending on the type of loan, your credit profile, and your affordability. These loans can be repaid over various durations to give you added flexibility and comfort. Every lender has their own set of terms and conditions which you will be asked to agree to if you want to undertake the loan. Our dynamic, market-leading technology helps us to find you the right personal loan in the UK fast, with instant decisions and same day payout, if approved!

Q: Is Personal Loans Now a broker or a lender?

A great question! Personal Loans Now is an authorised credit broker operating in the UK. When you fill out our application, we work with Monevo Ltd. to bring you a personalised table of pre-approved credit offers that best fit your profile. You can easily compare loan rates and terms and choose the lender you want to proceed with. We'll send them your application to save you the paperwork, and they will carry out their credit and affordability checks to give you a final decision. If approved, many of our lenders offer same-day payout, so you could have the funds in your account as soon as today!

Personal Loans Now

We like to keep things simple. If you have any questions about the way we work, take a look at the FAQs below, or contact us. Ready to go ahead? Apply now and get an instant decision!

  • Guarantor loans
  • Unsecured loans
  • Same day payment
  • Get up to £250,000
  • Long term loans
  • Personal loans
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Personal Loans Now is a registered Trading Name of Western Circle Ltd
It is registered on the Financial Services Register under reference number 714479.