Everything is better when you have more options and we believe that the same philosophy applies for flexible loans. If you’re tired of looking for the perfect flexible short term loans lender to get you the loan you want then look no further! At LoanPig we can find you flexible short term loans from reliable UK lenders. You get to choose the size and duration of your loan and an application takes only a few minutes, so you can get on with your day in no time at all.
What Are Flexible Loans?
Flexi loans are exactly what you might imagine them to be – they are flexible short term loans that allow you to choose how much you would like to borrow and for how long you would like to borrow them for. There are a few different types of flexible loans out there but one of the most popular are flexible payday loans.
What Is A Flexible Payday Loan?
To go into more detail, a flexible payday loan is a loan that’s used for short term financial solutions. If your car breaks down and needs to be repaired or you’re short on paying your bills for the month, flexible payday loans can make up the difference.
You can borrow a small amount and pay it back quickly – the ‘flexible’ part of flexible payday loans comes from having control over the amount you borrow and how long you require when it comes to paying it back. You can also choose to pay your loan back in instalments rather than in one payment to make repaying your loan easier to afford and manage.
What Is APR?
APR is a term that you will often come across if you try to apply for flexible short term loans. The APR percentage that you see associated with certain types of loans is meant to indicate how much you will be paying on your loan after a year compared to the original amount borrowed.
This amount includes the amount of interest you accumulate on your loan as well as any additional fees or costs. If you want to learn more about how APR and interest affects your loan repayments, you can use the loan calculator on our homepage.
How Do Flexible Short Term Loans Work?
Flexible loans are quite simple to understand if you know the basics of payday and short term loans. You can apply for flexible loans either from a direct lender or a loan broker, but you aren’t guaranteed to get the same type of loan from both of them. This is because brokers and lenders have different ways of getting you your loan.
What’s The Difference Between A Financial Broker And A Direct Lender?
A direct lender is a person or organisation that is able to lend money directly to someone in the form of a loan. With a direct lender you only get one chance to apply for a loan and if you don’t meet their criteria you won’t be granted a loan.
With a financial broker and direct lender like LoanPig, however, finding flexible loans is even easier. We have behind us one of the UK’s biggest panels of top lenders that are ready to supply you with the flexible loans you’re looking for.
Rather than accepting the terms of a lender when you apply of a loan, we’ll find a lender that accepts your terms and put you in touch with them.
How Can I Apply For Flexible Short Term Loans?
While different lenders and brokers will likely have different application processes, applying for flexible short term loans with LoanPig is easy as pie! All you need to do is fill out one simple online form and we will do the rest of the work.
We will share your loan requirements with our impressive panel of lenders and hunt down for you a lender that’s willing to approve your application and offer you great rates on flexi loans. After that, we will send you details about your matched lender and then you can finalise your application and look over your loan details with them.
Our online form only takes a few minutes to fill out and we will get back to you ASAP with a response to your application so you can start using your loan.
Are Flexi Loans Fast?
We do our best to give a fast response to your application and get your funds into your account as soon as possible. However, there are some details that may affect the speed at which you receive your flexible payday loans.
Because we use a whole panel of lenders to find you the right loan, you may find the response time isn’t always the same as the lenders on our panel may take different amounts of time to respond. The time it takes for you to receive your loan can also be affected by the time of day at which you submit your application as well as the response time of your bank and whether they allow instant loan payments.
So, to improve your chances of getting your loan when you need it, apply early and make sure you provide all of the necessary information when asked to do so.
Should I Apply For A Flexible Loan?
Flexible payday loans are not a quick fix solution for frivolous spending, so think carefully before you apply for one. They are not for everyone and are meant to be used in short term financial emergencies. But, if you are stuck in a rut and looking for a loan to help you stay out of debt, there are a few things you should know before you apply.
Do I Meet The Criteria For Flexible Short Term Loans?
Here at LoanPig, we prioritise responsible lending practices and try to avoid lending to people that can’t afford to make repayments. We, and most of the lenders on our panel, have certain criteria that applicants must meet before their flexi loans applications can be accepted. You must:
- Be 18 years of age
- Be a UK resident
- Be in full time employment or receiving an allowance
- Have a bank account
- Meet our credit and affordability criteria
As a finance broker, we don’t perform any credit checks upon receiving your application. However, in accordance with FCA guidelines, the lenders on our panel will conduct their own checks to confirm your identity and eligibility for flexible short term loans.
Will Bad Credit Affect My Application?
Emergency loans are one of our specialties and at LoanPig our aim is to make flexible payday loans more affordable and accessible for everyone. That means that even if you have bad credit, you can still be approved for a flexible loan with us.
We and our panel of lenders take into consideration more than just your credit score when considering a loan application and have a high acceptance rate, so don’t hesitate to apply today.
What Should I Do If I Can’t Afford A Repayment?
If you can’t afford to make a repayment it’s not the end of the world. If you miss a repayment without warning, you may be asked to pay a £15 fee and your interest will increase for every day after your repayment date that you have not made a payment.
However, if you inform your lender in advance of your repayment date about your situation, they may be able to defer your repayment until the next month or work with you to arrange a payment plan that’s easier to afford. This way, you can still pay back your loan without worrying about racking up interest and fees.
Who Can I Turn To For Flexible Payday Loans?
There are a lot of different lenders and brokers that provide flexible payday loans, which is why it’s so important to choose one that’s right for you and can offer you the kind of loan you need.
What Should I Look For In A Flexible Loan Provider?
Some of the biggest things to look out for when exploring flexible loan lenders and brokers are their reliability and trustworthiness. Look for providers that operate under FCA guidelines to find one that you can trust. The Financial Conduct Authority regulates flexible payday lenders to ensure that their loans are safe and affordable.
Do LoanPig Comply With FCA Guidelines?
Responsible lending is very important to us at LoanPig, which is why we and all of the direct lenders on our panel adhere to FCA regulations and guidelines. Flexible short term loans from LoanPig lenders have capped interest and your repayment amount will never be more than double the original amount you borrowed.
Why Should I Apply For Flexi Loans With LoanPig?
We go the extra mile to find for you flexible loans that meet your requirements. It’s our job to hunt down for you a direct lender that can give you the loan you want and provide it at a competitive rate. All it takes is one quick online form and we will do the rest. So, if you’re in need of a fast, flexible payday loan, apply with us today!