Find Out How Applying for Loan Works
How Applying for Loan Works on this website is, we try to match your loan application to a lender on our panel of approved and registered lenders in minutes:
Apply online using our application form.
We search our panel of UK registered lenders.
Representative 277.5% APR - Representative Example: Amount of credit: £750 for 12 months at £119.21 per month. Total repayment of £1430.52. Interest: £680.52. Interest rate: 140% pa (fixed). 277.5% APR Representative.
We match you to a lender in minutes.
Complete our online application form
Simply enter your details and we will do the rest!
Please make sure that you enter your details as accurately as possible.
Providing incorrect information may affect our ability to match you to an appropriate lender.
We search for a lender in minutes
After you complete and submit the application form we will then search our panel of UK lenders.
This only takes a few minutes!
We try to find you a lender
We will match you to a lender based on your criteria. If your application is approved by the lender your loan will be with you in under 24 hours ready for you to use.
Some of our lenders may require you to send in additional documents before the loan is funded.
When taking out any kind of loan it can be a real mind field about where to go, how much to borrow and what it all entails. We hope we can answer some of the questions you may have on how applying for loan works so that you will feel more confident when doing your research.
If you have never applied for a loan before you may not have a clue of how applying for loan works. It is very important to have knowledge of what you need to look out for as it is a formal financial agreement you are entering in to.
However, by taking the time of finding out how applying for loan works it shows that you are taking the commitment very seriously. This is very important as you want to make sure you are making an informed decision.
So how applying for loan works really depends on your situation and how much you wish to borrow and for what use. There are numerous lenders available wanting to sell you loans, from your local bank to your local supermarket.
It is important to know how loans work so that you know when a lender or a deal is the real thing and whether it is the best option for you.
How applying for a loan works is you will have to fill in an application form. This is a basic form that requires personal and employment information.
This can either be done direct through the lender’s page or by using a broker that does all the hard work for you in finding you the best deal to suit your circumstance.
By applying direct to a lender you will need to be aware that each application you make will leave a mark on your credit file, and if you are turned down time after time this will show up. Getting refused time after time has a detrimental effect on your credit score.
However, by applying with a broker, with the information that you provide them they can use their expert knowledge of the market and their access to an array of lenders to connect you with the lenders that are highly likely to accept you.
So when finding out how applying for loan works, you need to look at how long you can borrow the money over, what fees are charged to take out the loan and what interest is charged over the length of the loan.
This information should be detailed out by the lender before applying for a loan so that there are no surprises later. Just be aware that the longer you take out a loan, although your monthly repayments will be a lot lower, the total cost of the loan will be a lot more than if you borrowed over a shorter period.
We hope we have answered some of the questions you may have on how applying for loan works so that you now have the confidence of finding the best loan to suit your circumstances.
By clicking on the links on this page you will be taken to lenders that are upfront about all costs and fees so that you can buy in confidence.