If you want personal direct lender loans, we can help provide borrowing between £1,000 up to £25,000 instantly. Our quick online application and innovative credit on demand system of lenders is easy to use. In just 3 minutes, we can help you find direct lender loans in the UK that match your requirements. There are many benefits to applying for direct lender loans through us. Click apply now today, and we’ll help show you the best rate direct loan lenders in the UK.
What are Direct Lender Loans?
Direct lender loans refer to any lender who can provide you with the funding you need directly. For example, at Personal Loans Now, we are direct lenders. If we can agree to the loan amount and repayment terms you have applied for, we’ll credit your account the same day. The best thing about this is you only have to deal with one lender throughout the whole process. No brokers are involved if we can provide you with the money ourselves.
If we can’t approve your application for direct lender loans then don’t worry, this doesn’t mean the end of the journey. We’ll show you from our list of over 40+ direct lenders who can. With our credit on demand system, we take the hard work out of comparing direct lender loans. All you need to do is click apply now!
How Does an Application for Direct Lender Loans in the UK Work?
We want to make the application process as quick and easy as possible for you. This is so that you can benefit from the best available direct lender loans in the UK. After you click apply now, you’ll need to provide us with a few personal details. This is so that we can establish if you are the best fit for direct lender loans. As a minimum, you will need to meet the following eligibility requirements:
Aged 18 years and over
Are a current UK resident
You have a valid UK bank account
If you can meet the above, you’ll be presented with a personalised list of loan offers that match your requirements. This process is quick, providing we have all the right details and can give you a decision within 3 minutes. Examples of the questions you’ll be asked include what your home address, employment details and monthly outgoings are. With more information from you, the quicker we can process your application and provide you with the funds you need.
What Are the Benefits of Direct Lender Loans in the UK?
There are many benefits of direct lender loans. Once approved, the lender themselves will provide you with the funds directly. With no middle-man involved during the process, you’ll find managing direct lenders loans much easier. Our aim, of course, is to provide you ourselves with the borrowing you want. But to help you have a better choice, we’ll show you who from our list of direct lenders are also available. If you decide to go ahead with direct lender loans from another lender, you can continue your application. Easily and directly with them, all from one simple application.
Another benefit of direct lender loans is the spreading of manageable monthly repayments. This way, you can determine from the start how much every month you will pay back. This will need to work inside the lines of your affordability.
How Do I Know I’m Getting the Best Rates on Direct Lender Loans?
When looking for direct lender loans, we understand you want to get the best deal available. Nobody wants to end up paying back more interest than is necessary. This is why, at Personal Loans Now, we have designed our application process to be as transparent as possible. Whether you’re applying for small direct lender loans or much larger sums, we’ll treat your application fairly. This is so that you can make the best possible decision.
To help you make an informed decision, we will provide you with a personalised table of offers. This way, you can see all the information you need in one place. This should enable you to make a quick and accurate decision on direct loan lenders in the UK. If you need help with an application for credit through Personal Loans Now, please don’t hesitate to phone or by email. We’ll connect you with one of our helpful team to answer your queries efficiently and quickly.
Can I Trust the Direct Loan Lenders in the UK You Connect Me With?
Much like us, all the direct loan lenders in the UK we connect you with are FCA regulated. This ensures that as a customer, you’re treated fairly and within the specified lending guidelines. We want you to apply with confidence when using our credit on demand application. This is why we have ensured we adhere to full responsible lending criteria. We have helped over 50,000 loan applications with our high acceptance rates and transparent application process. You can have peace of mind when using us for direct lender loans.
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How Quickly Can I be Funded with Direct Lender Loans?
Once you click apply now, things can move very quickly, as long as you meet all the relevant lending criteria. An application will take just 3 minutes to complete, with a decision made in just 90 seconds. Whether you want £1,000 or £25,000, you could be funded on the very same day of approval. As a direct lender, once we have approved your loan application, we’ll deposit the funds quickly and securely. This means you can have the funds you need instantly.
A direct lender loans application with another lender can mean they have some additional criteria. They may ask for this, but they will still aim to process and fund your bank account on the same day. Providing the application is completed during regular banking hours.
Direct Lender Loans in the UK FAQS
Can I Apply For Direct Lender Loans in the UK if I Have Bad Credit?
Yes, even if you currently have a bad credit rating, we can still help you with direct lender loans. We appreciate that not everyone has a perfect credit score and can benefit from a cash injection to help. However, you’ll need to consider a few things before filling out an application. With direct lender loans, you’ll still need to demonstrate affordability for the loan terms you are looking for. Otherwise, you’ll be seen as a much higher risk. Having a bad credit rating can mean you’ll only be eligible for direct lender loans with higher interest. Or, the lender may only be able to offer a smaller loan amount than you have applied for.
If your credit score is good, you’ll have access to the best rates available for direct lender loans. The poorer your credit score, the more at risk you are to a lender. This is why although you may be accepted, it may not necessarily be for the full amount you want. Or, the loan may not be offered at the most preferential repayment terms for you.
How Do I Get The Best Rates On Secured Loans?
To get the best rates on secured loans, a high credit score can be a beneficial asset. While bad credit won’t necessarily prevent you from getting a secured loan, it can affect the rates that a lender is willing to offer you for the loan and so it’s important to be prepared to face higher interest rates than an equivalent loan offered to someone with a higher score. You could also have a longer or shorter repayment period than requested in order to distribute the risk more effectively.
You’ll also need to have an asset to hand that matches or exceeds the value of the loan you are looking to take out. Your home will often be more than enough to use as collateral, but you’ll need to value your vehicle if you are looking to offer this instead.
What Happens if I Cannot Keep Up Repayments for Direct Lender Loans?
If in the event you cannot keep up with the agreed repayments, you need to contact the lender. If we’ve lent directly to you, please contact us at the earliest opportunity to discuss payment. If it is one of the lenders we connect you with, you’ll need to contact them directly to discuss further. We understand that the unexpected can happen. That is why it is always best to make the lender aware as soon as possible.
If an agreement cannot be reached for repayment, the lender can take action detailed in the credit agreement. This could be legal action, for example. Please don’t hesitate to contact us if you fall into difficulties at any point of the loan agreement.
Can Direct Lender Loans Help Me in Financial Difficulty?
Direct lender loans are designed to help you solve a short term financial situation. If you’re currently experiencing financial difficulties, a direct lender loan may not be the best solution. Before you begin an application, we recommend that you determine your income and expenditure fully. This is so you can work out your exact disposable income. You will know what you can afford to pay monthly when detailing your application for credit. If you find that your affordability is low, then you’ll need to reconsider your options.
We do not recommend that you use short term borrowing to help pay for another existing borrowing you may have. If you feel you need more advice whilst in financial difficulty, please seek more information. One of the many agencies available, such as the Money Advice Service can help provide impartial advice.
How is Interest Calculated with Direct Lender Loans in the UK
Most direct loan lenders in the UK offer fixed interest rates. However, depending on the lender, some may offer variable rates. As a direct lender, here at Personal Loans Now we can offer a fixed rate of interest at 39.7%, representative APR. This means that the interest rate will stay the same throughout the full term of the contract. A lender may offer a variable rate of interest. This will be clear within any credit agreement and means you could end up paying more interest in the long run. Sometimes possibly less. It is always best to carefully consider the terms before you agree to any terms of credit with a lender.