A lot of people are starting to use direct lenders instead of going through a broker because of all the added benefits that are associated with doing so. If you find yourself in a situation where you need cash now, it is important that you choose the right course of action when it comes to borrowing money. Although you may have been told that using online broker or matching service to find you a loan is the right way to go, this isn’t necessarily the case.
These days quite a few people have begun using direct lenders only when borrowing money, and you will want to find out why.
One of the reasons that people are choosing direct lenders only is because they typically have laxer rules about who gets approved. Most banks only give loans out to select group of people, so they can be rather difficult to get. If you want to increase your chances of getting the money you need, it is important that you look into this option. Direct lenders tend to be more reasonable with those who have less than perfect credit. There are certain basic minimum requirements you will have to meet to get one of these loans, but it’s usually not too difficult to obtain approval.
Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).
The amount of money that you can borrow when going through a direct lender depends on a few different things, including your monthly income as well as the state of your credit record. The more money you make with each pay check, the more money you will be able to borrow. These lenders are also usually more willing to give larger amounts to those who have at least decent credit.
Almost anyone who needs a small loan quickly and doesn’t want to wait longer than they absolutely need to should consider applying to a direct lender. This will expedite the process of getting the funds you need, which is especially helpful if you have an emergency expense of some kind that you have to pay for immediately.
Some of the people who can benefit from using direct lenders include:
Omacl is your definitive solution when it comes to getting an emergency loan from a trustworthy direct lender. Our loan brokerage and matching service is second to none and we have brokered many loans to qualifying individuals, and there is a good chance that we can help you as well. Our service is committed to providing those who apply with us with fast and efficient services.
There are some things that you will need to consider before applying with a direct lender, such as whether or not you meet with the bare minimum requirements. You will need to be over the age of 18 with an active checking account and a steady job. Approval is never guaranteed, so you will need to keep this in mind before filling out an application for the loan you want.