The Answer To Your Cash Needs
The Great Things About KnightFinance
Super Fast Process
You could get money directly into your account after just a 15 minutes application.
Get the cash you need without the usual high costs, because of our wide range of lenders.
Low Interest Rates
Compare lenders to make sure that you get the lowest possible rates.
There’s no need to put any collateral against your credit, all our loans are unsecured.
Personal Loans that are Unsecured
It is so easy to get the finance you need today. Here at KnightFinance we pride ourselves on finding the right payment plan to suit anyone’s individual needs. Whether you are looking to borrow a small amount over a short period or are looking for much larger finance agreement we are able to help. Also known as personal loans or signature loans, unsecured loans are becoming a massively popular alternative to the standard bank loan. What unsecured refers to is how the finance is issued depending on the individual’s creditworthiness. Now when that comes to a bank loan, yes this is regarding your credit score, often making it difficult to get the finance you need. However, when we are talking about a loan that is not from a bank this is not the case. Many companies and lenders will not look at your credit score and will gauge your ability to repay on your current employment. So what is an unsecured loan really? This is quite an easy one, all it means is that the loan is not guaranteed by a property or vehicle. Because the lender does not have a source of collateral, just in case you default on payments for whatever reason, the interest for these loans can sometimes be higher than their counterparts. For those with bad credit, though, they are perfect for getting you back on track.
Instalment Loans Direct Lenders uk
Instalment loans direct lenders in UK are authorized by the FCA or Financial Conduct Authority to provide financial solutions to borrowers in the United Kingdom. Qualified applicants can borrow credit amounts anywhere from £100 – £2000 that they can slowly pay back in a period of one month to six months.
These are short-term loan lenders that are determined to help Britons obtain reliable funding including those that have been turned down by banks and traditional financing institutions because of poor credit histories. If you decide to apply for direct lender installment loans for bad credit that offers instalment loans, you can expect to receive a response if you are approved or not, in an instant. And once you are approved, the funding that you requested for should be deposited into your bank account in the same day or the next business day.
Why borrowers love instalment loans direct lenders in UK
Installment loans from direct lenders are one of the most popular guaranteed short-term financial products in the UK for various reasons including:
- There is an abundance of legit and reputable direct lenders that most types of borrowers in the UK can easily access online
- The application is 100% cost free with zero hidden fees and charges included
- No third party companies or brokers involved in your loan transaction
- You have the option to repay your debt early and save money on lesser interest rate payments
- There is no need to pay extra for broker fees and the like
Applying for instalment loans direct lenders in UK
Applying for the short term loans UK is pretty straightforward. To begin your application, try to figure out what kind of term works best for you and your finances first – how much you need to borrow and the period in which you can comfortable pay it back. There are borrowers who opt with just a few hundred pounds while there are those who need a thousand or more to keep them afloat.
If you have decided the ideal borrowing amount that you need, you can then use the lender’s loan calculator so you will find out what your repayments will look like. Loan calculators are offered for free in a lender’s website which means that you can use it for as much as you like.
So your application for instalment loans direct lenders in UK will advance further smoothly, you will be required to offer a number of personal and financial information such as:
- Your current address
- Email address and phone number
- Present earnings and outgoings
- Income and expenses
After you have shared all the essential information, the lender will make a quick decision on whether or not their loan products and service are ideal for you. And if you encounter any questions and concerns regarding your loan application, feel free to contact your lender or one of its representatives for clarifications.
Direct lenders for poor credit installment loans
If you have poor credit, taking out a loan can become an entirely frustrating ordeal especially if you apply from banks and other mainstream lenders. Fortunately, there are plenty of direct lenders for poor credit installment loans that you can turn to if you need an easy way out of a financial emergency or cash shortage situation and don’t have that good credit rating that most lenders are looking for.
Direct lenders for poor credit installment loans can provide you with the best chances of getting approved given your credit rating. To qualify, you must meet basic eligibility requirements which includes:
- Being at least 18 years old at the start of the application
- A permanent resident and citizen of the United Kingdom
- Possess a steady source of income that can meet the basic affordability requirements
- Have an active UK bank account
Keep in mind however, that when you submit an application to a poor credit direct lender that offers installment loans for poor credit, the lender will conduct necessary affordability checks to determine if your present monthly earning and outgoings is ideal to your loan’s terms. If you don’t meet the minimum affordability requirements, your application may get denied.
Expected cost of Instalment loans direct lenders in UK
Short term loan lenders that offer installment payment terns in the UK have their own unique set of rates and fees, which means that the cost of your loan agreement would vary from one credit provider to the next. If you rely on a broker however, you will need to pay an extra fee in exchange for the services that it offers
Obviously, you want to know how much a loan agreement will cost you before you sign any legally binding contract. When it comes to instalment loans direct lenders in UK, the FCA has established a restriction on the maximum amount that companies can levy on their loan offers. The price limitations are:
- A maximum of8% daily interest
- No more than £15 penalty if you become late with your payments
- 100% maximum cost. You cannot pay more in interest rate and charges than the loan you took out. So if you borrowed £100 for instance, you should not have a bill that pays more than that.
If you see any instalment loan offer from a particular lender that goes beyond the prices mentioned above, then you might want to reconsider making any application. The lender clearly violates the restrictions established by the FCA and there is a good chance that it may be a loan shark that you need to avoid at all costs.
Instalment Loans direct lenders in UK with instant approva
If you need to secure extra cash right away, there are instalment loans direct lenders in UK with instant approval that may be able to help satisfy your need. Processing time will vary between lenders and this will depend on the company’s capacity to conduct affordability checks and bank transfers.
There are instalment loans direct lenders in UK that can process your application in no more than 15 minutes. You can also expect the approved loan amounts to be transferred into your account in just a few hours. So if you are in an emergency situation and your need for funding is extremely urgent, then you might want to opt with lenders that provide instant approval services.