Personal LoanStarting APR 49.7%
Loan brokers do not surprise Loan Broker borrowers with an upfront fee for any short-term loan. That means you do not have to calculate any application fee or processing fee while estimating the overall cost of borrowing. The Loan Broker's job is to find a lender from the Loan Broker panel according to your requirements so that you can take control of your financial situation easily.
The interest rate offered will vary depending on the Loan Broker's assessment of your financial circumstances and your chosen loan amount.
Representative APR Example: On an assumed loan amount of £2,600.00 over 36 months. Rate of interest 41% per annum (fixed). Representative 49.7% APR. The total amount payable is £4,557.89 of which £1,957.89 is interest. 35 monthly repayments of £126.61 and a final payment of £126.54.
- Annual Percentage Rate (APR) 49.7%
- Borrowing Amount £100 - £1000
- Maximum Loan Term upto 1 years
- Processing Time 1 day
- Loan Types Bad Credit, Fixed Rate, Short Term, Unsecured
- You need to be 18 years of age or above
- Must be a citizen of the UK
- You should have a functional bank account.
What Can Short-term Loans Be Used For?
An online short-term loan can be used for pretty much all purposes. There is no restriction on usage. However, a borrower cannot use this loan for illegal uses. You cannot borrow a loan and then lend the money received to someone who couldn’t receive a loan, or you cannot invest the money in stocks and shares.
Suppose say, one of your essential appliances needs immediate replacement or repair, then you can rely on these loans to get access to the funds you need for the cause.
Apart from that, you may use these loans for consolidating multiple debts, finance your wedding, fund your vacation, pay for school fees, fund your home improvement project, or pay medical fees. You may borrow a loan for all these short-term purposes only when you are sure that you can afford the repayments.
Short-term Loans for Bad Credit
Many people struggle to get their loan applications approved because of their bad credit ratings. At Loan Broker, Loan Broker deal with lenders who offer short-term loans for bad credit in the UK. They assess your profile based on the information that you would have provided in the application form. A credit check is performed by the lender to evaluate the creditworthiness and then the decision is made by the lender regarding the loan application.
If you have a not-so-perfect credit score, you can still apply with Loan Broker. And if your loan application is approved, then ensure you make the repayments on time and in full. This will help boost your credit score.
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