Finding yourself in financial difficulty can be quite a challenging and stressful situation. If you need money urgently to get you out of a financial rut, fortunately, there are a number of options available to you. Exploring the option of short term direct lenders could potentially allow you to regain that much-needed stability. Short term loans direct lenders are available en masse nowadays, but you should rest assured that LoanPig is a lender that puts its customers at the forefront of its requirements.
What Is A Short Term Loan Direct Lender?
A short term loan direct lender offers you the money you need, with a direct approach. LoanPig’s short term loans UK direct lender process gives you access to a number of different lenders at the push of a button and the assurance that your loan will be reputable and in your best interests.
What Is The Difference Between A Short Term Loan Direct Lender And A Broker?
A short term loans UK direct lenders and brokers offer entirely different services and it’s important to be able to differentiate between the two and ensure that you are dealing with the right lender for you. Both direct lenders and brokers claim to have high acceptance rates, meaning that you can rest assured that your application will be accepted. However, short term direct loan lenders will ensure that your short term loan application is specifically tailored, giving you an offer that is best suited to your actual financial needs.
Often, you will find that applications through a broker can only be made online – something that is not the case where short term direct loan lenders are concerned. Short term loans direct lenders are aware of the concerns that customers face and the stress of having an already difficult discussion over the phone. Direct lenders supply a service that eliminates this additional stress.
What Can I Use The Money From A Short Term Loan Lender or Broker For?
While it’s possible to use the money from a short term loan lender for any purpose, you should bear in mind that the rate of APR is much higher on a short term loan, so realistically, these types of loans should only be taken out in emergencies. If you find yourself unexpectedly in financial difficulty but you are normally good at managing your money then a loan such as this may well be the answer to your difficulties. Whatever you decide, ensuring that you find a reputable and secure short term loan supplier is key to staying in financial control.
How Much Should I Expect To Pay Back With A Short Term Loan Direct Lender?
The amount you pay back depends entirely on the amount you are wanting to borrow, and how long you intend to take to pay it back. Our handy short term loans calculator will allow you to determine exactly how much you should expect to pay back, based on the amount you have borrowed and the amount of time in which you want to pay it off. For example, if you want to borrow £500 over the course of five months, then you would expect to pay £416.94 in interest, making your total repayable amount over the five months a total of £916.94.
Can I Apply For A Payday Loan Online?
At LoanPig, we are able to offer an advanced service that cuts out the stressful, telephone conversation and gives us information that enables us to match your requests with different lenders, giving you choices that adhere to your best interests. Not only does this make the process much easier, but it also ensures that you are able to access the money you need quickly and without additional stress.
Are Direct Short Term Loan Lenders Regulated?
Lenders have a duty to follow the regulations put in place by the Financial Conduct Authority and direct short term loan lenders are obligated to do so as well. In the past, short term lenders acquired an unwanted reputation, but this is something that is not the case nowadays where strict regulations ensure that short term loan lenders act entirely with their clients’ best interests in mind – recent changes to regulations, for example, ensure that clients are never made to pay back any more than double what they borrowed. You can rest assured that any loan you take out through our direct short term loan lender will be provided to you in an honest and transparent way, with your needs and rights in the forefront of our minds.
Why Should I Choose LoanPig?
LoanPig is a good choice for people who want a tailored plan – you can choose how much you would like to borrow and set up a repayment plan based on what you can afford to pay.
Is LoanPig a Good Credit Lender?
Yes. You can rest assured that any money that you borrow through LoanPig will be subject to requirements set out by the Financial Conduct Authority and you will not have to pay any unexpected fees or costs.
What Are The Alternatives To Using A Short Term Loan Lender?
If you are in dire need of financial support but you feel as though a short term loan isn’t the right option for you then there are alternative solutions to help you recover from your financial difficulty, including applying for bank loans, asking to borrow money from your loved ones or else selling your belongings to cover the additional cost. In spite of these options, there are very few options where the money you need can be raised as quickly as if you were to take out a short term loan.
Can I Apply For A Short Term Loan With A Poor Credit Rating?
Having a poor credit rating can put you at a disadvantage when applying for traditional loans and short term loan lenders often consider every application as an individual – having a poor credit rating, for example, should not impact your chances of taking out a loan if you have the financial means to meet your repayments. As a short term lender, we evaluate whether you are eligible for a loan based on a number of different criteria, not just whether your credit rating is good.
Will Borrowing Money From A Short Term Loan Direct Lender Impact My Credit Score?
If you are consistently making repayments on your loan, there is absolutely no reason why your credit score would be impacted by the loan. Failure to meet repayment schedules, on the other hand, will affect your score so when deciding to take out a loan, you should consider whether or not you can afford the repayment plan and meet your repayment deadlines.
For more information on the services that we provide or to apply, get in touch with us today.