Find A Pounds to Pocket Loan Alternative
If you find yourself needing an emergency injection of cash, either to tide you over until payday or to help yourself out of a dire situation, you may have started to research loans such as those offered by Pounds to Pocket. If you have been doing your research, and now want a Pounds to Pocket loan alternative, then LoanPig is a safe and experienced lender who operate directly and as a broker.
Pounds to Pocket vs LoanPig
An important and vital difference between us and Pounds to Pocket is that we are a direct lender and we also operate as a broker. Pounds to Pocket is, on the other hand, just a lender. This means that they are only able to offer you their own services, repayment terms and products. We can offer you our own loans, as well as providing you unprecedented access to a great many other reputable UK based lenders. We essentially scour the market to find you the best loan deal that you can possibly get, and we don’t believe that you should expect anything less! By working this way we prioritise flexibility and freedom of choice for all of our customers.
The Loan Pig Application Process
As a popular Pounds to Pocket loan alternative we have a streamlined application process which is easy to complete, and simple to follow. We only ask for the information that we need from our applicants in order to make a decision regarding your LoanPig application. Once you have filled in the application form, send it off to us, we will make our decision, and we will let you know what we decide. To learn more about our application process please do so here.
What Is APR?
As a broker, we have a varied range of APR rates available to all of our customers. Pounds to Pocket are solely a direct lender which means that they have just one APR rate, which they offer to all of their customers and this cannot and odes not ever change; their APR rate is fixed.
What Does FCA Regulated Mean?
The FCA are a regulatory body (the Financial Conduct Authority) and they monitor and manage the industry ensuring the protection of loan customers. The also have a huge impact on lenders themselves and have many regulations in place that control how a lender can sell to customers. Overall, the FCA’s responsibility is to maintain fairness, clarity and transparency whilst rooting out and then blocking questionable or unethical business practices.
So, what does it mean when a business is FCA authorised? This essentially means that a company acts and conducts themselves honestly and fairly in their respective market/industry. Their impact has been overwhelmingly positive. Over the past few years they have implemented and enforced many rules, for example, thanks to the FCA the loan charges accrued on a loan for a payday loan lender can never exceed double the actual loan amount. Furthermore, there is now a cap on loan interest amounts.
LoanPig are fully regulated and FCA authorised. So you can use our services with complete confidence.
Loan Approval: Better With LoanPig
As stated previously LoanPig are a broker as well as a lender. This has a lot of positive implications when it comes to loan approval rates. Essentially, if for whatever reason we are unable to lend to you, then we will almost definitely be able to connect you to a lender who can. This is because loan criteria can vary from lender to lender.
We do, as all providers do, have acceptance criteria in place for all of our loan applicants. These criteria have been designed to protect both lender and loanee and allow us to assess how comfortable loan repayments will be for the applicant – the last thing we want to do is get an individual in further financial hardship.
The acceptance criteria for a Pounds to Pocket loan are similar to ours, in fact, there is a general industry standard regarding eligibility so chances are these will remain the same wherever you apply.
Our baseline criteria are as follows:
– Be at least 18 years of age at the time of your application
– Be a resident of the U.K
There are however some small differences between our criteria and the Pounds to Pocket loan criteria. Namely, Pounds to Pocket require that an applicant be either self-employed or employed in order to qualify for a loan. At LoanPig, we only require you to have a source of income, such as a government allowance.
LoanPig Credit And Affordability Checks
We do run credit and affordability checks here at LoanPig. However, even if you have a less than favourable credit score we may still accept your application for a loan, and if we really cannot accept your application for whatever reason then we are certain that we can connect you to a lender who will gladly accept you.
An important part of our process, which should also be an important part of any reputable loan companies process is to run an affordability check on every applicant. This ensures that a loan from us won’t make your situation worse, it instils in us the confidence that we need regarding your ability to repay the loan in full, and it stops us from lending to you if you aren’t in a strong enough position financially to manage the monthly repayments, inclusive of interest.
Should You Choose LoanPig For Your Pounds To Pocket Loan Alternative?
We strongly believe that as a responsible, ethical lender, with industry-leading APR rates and best practices, we are a fantastic choice for anyone looking for a Pounds To Pocket loan alternative.
We offer fast access to the cash you need in an emergency. Our loan repayment periods are flexible as are our borrowing amounts, so if you need a lender with a proven track record of fairness, then choose LoanPig. We can provide you with the loan you need.
If you would like to get in touch with us or if you have any questions or queries then please do not hesitate to contact a member of our friendly team, and we will do all we can to assist you.