When life throws an unexpected financial emergency at us, sometimes your salary can’t quite cover it. This is where personal loans can help you get back on track. Here at LoanPig, we are dedicated to providing a completely transparent, quick, and convenient short term personal loan service, available for when you need it most.
As brokers, we can find the most appropriate personal loan for your financial needs, ensuring that you can get the funds you need as soon as possible. If you’re looking for a same day loan, we can help you find an affordable choice that pays out instantly if approved, no matter what your current credit score shows. We have everything you need as a direct lender and broker with an application taking just minutes to complete to see your lender offers. Choose the amount and repayment term you want using the sliders above, and click apply now to start your application today.
What are Personal Loans?
A personal loan is an unsecured loan used to cover a short to medium term expense. This means that your loan isn’t secured against any assets and people typically apply for one to cover many different purchases, from buying a new car to funding a holiday and more. At LoanPig, we specialise in short term personal loans to be used for emergency purposes only. These are similar to payday loans, however, you have the added flexibility to choose longer repayments up to 12 months. We can help you find a personal short term loan fast with an easy application process, connecting you with personal loans UK lenders willing to help you, including ourselves.
Searching online for personal loans can be tedious, and somewhat confusing when it comes to knowing exactly how much you’re borrowing. Here at LoanPig, we can provide you with a completely transparent, fluid service and with the help of our online loan calculator, we can ensure that there are no hidden costs throughout the entire process. All of our unsecured loans have fixed rates of interest, so you won‘t be caught with any unexpected charges.
Personal loans are traditionally supplied from your bank, however, the advancement of lending technology means you can go straight to an online personal loans UK direct lender. They can approve your loan application and supply you with the cash directly in minutes, providing a much quicker service when you need money fast.
Trusted Personal Loans UK Lenders
Depending on when you need your short term personal loan, we will do everything we can to get it to you as quickly as possible. Whether you require a same day loan to cover a financial emergency on the day, or you need one in order to help cover an unexpected bill before your next salary date, our online cash loans are there to help you. Personal loans can be with you as soon as you need them, but as a responsible lender, we will only lend to those who can afford to pay it back. LoanPig is an authorised broker by the Financial Conduct Authority (FCA), registration number 736632.
We are also a trusted FCA approved direct lender, as are all the personal loans UK lenders we can connect you with. We take responsible lending seriously to ensure we treat all customers fairly and that no loan will put you further into financial difficulty. As well as trying to supply you directly with a cash loan, if we can’t, we will look to find you a lender that’s right for you. When you apply for personal payday loans with LoanPig, you get a level of flexibility that you won’t find anywhere else.
Personal Loans for Bad Credit
Having a low credit rating can make it difficult to find suitable lenders of traditional personal loans. With many banks having tighter criteria for approving a loan, seeking out specialist lenders of personal bad credit loans can help if your credit history is poor. At LoanPig, we know not every applicant will have the best credit score, so we focus on your affordability to find the right personal loans UK lender to match your circumstances. As an FCA approved lender and broker, we still need to ensure we work within responsible lending guidelines, so that we can make sure you can afford the loan you want.
All applicants are required to have a full credit check as part of their application, but the difference with us is this is just one part of the lending approval process. If you have a low credit rating, we won’t decline you solely on this, instead, we take the time to fully assess your finances. You can apply with confidence we’ll treat your application fairly and if we can’t approve the personal loan ourselves, we’ll find other lenders willing to help.
Eligibility for a Personal Loan
To find short term personal loans, you’ll need to meet our eligibility criteria first. You’ll need to:
– be a current UK resident
– be at least 18-years-old
– have an active bank account and valid debit card
– either be in permanent employment or receiving some form of disability/living allowance or a pension
Please note, meeting the above will allow you to complete an application to find personal loans UK lender offers. It does not guarantee you will be successful as you will need to undergo a full credit check and affordability assessment as part of the lending approval process. If we can’t determine an applicant can afford the loan terms they choose, we will have to provide a declined decision.
Apply Now for a Personal Loan
A personal loan for short term emergency purposes can be ideal when you have exhausted other options. If you have no savings to cover your situation and no other available credit, LoanPig can help you find affordable options to match your circumstances. Have any questions about personal loans UK lenders? Please contact us for further information and click apply now to start your application today.
Personal Loans FAQs
Do Personal Loans Have a High APR Like Payday Loans?
You may find that personal payday loans often have a higher APR than a lot of other types of loan. The personal loans that we offer at LoanPig are a type of short term loan, with most loans typically being borrowed between 3 to 6 months. This means that the interest you will see on your personal loan after 3 months won’t be as high as the APR might make you first think. As we work to FCA guidelines, we make sure you will never be asked to pay back more than double the amount of your personal loan, no matter how long you have it or how high the APR is. Use our loan payment calculator to determine how much the interest will be on the amount and terms you choose.
How Soon Can I Access My Personal Loan Funds?
Many of the lenders on our panel have different pay-out times and the limitations of your bank can also influence the time it takes to receive your funds. However, we aim to get you your personal payday loans as fast as possible. If you apply for your short term personal loans before 3 PM, Monday to Friday, there is a good possibility you will be able to get your funds on the same day. Otherwise, we will do our best to make sure that your personal loan gets to you with 24 hours (on a working day).
Will A Bad Credit Score Affect My Personal Loan Application?
While we and our lenders do our best to protect our customers from receiving personal loans that they can’t afford, a bad credit score won’t always influence our decision. When you apply for emergency personal loans through LoanPig, credit and affordability checks are performed not only to check your eligibility, but also to ensure that no one is trying to take a loan out with your information other than yourself. We have a high acceptance rate and the flexibility that we offer with our loans means that we can help you find a personal loan that is affordable and meets your needs.
What Should I Do If I Can’t Make A Repayment on my Personal Loan?
If you can’t make a repayment for any reason, the first thing you should do is talk to your lender. If you miss your loan repayment date without making a repayment, you could face a £15 fine and until you make the payment, the interest on your loan will increase by 8% daily. If before the repayment date you advise the lender, however, they may be able to defer the repayment or discuss putting together an affordable payment plan. You should always check the repayment schedule as detailed in your credit agreement and ensure enough funds are clear in your bank account to avoid this happening.