Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
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Representative example: £500 borrowed for 90 days. Total amount repayable is £672.60. Interest charged is £172.60, interest rate 140.0% (variable).
A £1500 loan could be either a high payday loan or a small short-term loan, depending on your qualifications and the time frame within which you intend to pay it back. If you’re able to, it would be better to make it a small short-term loan, both because you would be likely to have a lower interest rate and because short-term loans give you a bit more time to pay the balance off.
But what happens when you apply for a £1500 loan, only to be declined? Not only has your credit taken a hit at this point, but you haven’t been able to get the money you need and are right back at square one.
That’s where NowLoan comes in to save you from such a predicament. Their system uses software that can instantaneously and securely use the information you provide about yourself and your situation to match you with the lenders who are most likely to approve you for a loan. This takes all of the guesswork out of it for you, and will also give you a list of matches to choose from.
Instead of having to go through denials from lenders who may not be best suited for you, you can look through a list of lenders whose criteria match your information and decide which one you would like to apply with.
There could be a number of reasons why you might need that money before your next paycheck, and every one of those reasons is important. That’s why NowLoan has made this whole process fast and convenient. You don’t have to go into a physical NowLoan building just to do this, either. You can fill out NowLoan’s forms from the comfort of your couch or bed at home, choose an actual lender from the list you’re given, and fill out the lender’s application, selecting to have your loan deposited without having to leave your house.