WHAT HAPPENS IF I CANNOT AFFORD TO REPAY THE LOAN?
Before going ahead with a loan-agreement, always make sure you can pay back the instalments as per the terms and conditions of the loan.
If you are unable to make repayments during the term of your loan, you need to speak with the lender directly to know their procedures and if there are any other options.
If you are in debt and experiencing hardship with this, we recommend you contact StepChange, and they will be able to help you.
HOW DOES NOWLOAN MAKE LOAN APPROVAL DECISIONS?
NowLoan does not make any loan approval decisions. Once a form has been submitted, our system will automatically find you the best lender matches from our panel based on your personal details and provide you with a relevant quote.
It is up to you whether to go ahead with the application and ultimately, the loan arrangement.
CAN I REQUEST MORE THAN 1 QUOTE?
Yes, you can!
An individual can enter as many quote requests as they wish to find out what loans or credit products may be available to them.
By requesting one quote or several quotes, there are no implications on your credit score; even if you have a bad credit rating.
This means that you can input different variables on your application that will determine your quote outcome such as loan amount and length of the loan.
If you have previously submitted a quote request and have received a loan through our website in the past, you can still perform a new search for a loan quote.
As our services are entirely free, and no account/log-in is needed, we do not discriminate against particular individuals or have a record of their past credit decisions.
As a consumer, you can check back from time to time to find out what loans are available to you without having to follow through with the loan or without it affecting your credit score.
It’s important to note then after getting a quote through our site and then submitting a formal application with a lender, the lender will likely perform a hard credit check.
I NEED URGENT MONEY; HOW LONG DO I HAVE TO WAIT?
We completely understand that sometimes we find ourselves needing urgent funds, we don’t have access to, from time to time.
Firstly, you can submit your details via our free, online quote form.
The details you provide will each be considered and then cross-referenced across all of our available direct loan lenders.
In just a few minutes our system will eliminate any lenders who have requirements or criteria that don’t match to your details.
The length of time you need to wait before receiving urgent funds can vary, and each lender will have their procedures and time-frames.
However, some of our lenders can send funds directly to your bank account within 15 minutes, and some offer same-day loan payments.
WHAT FEE’S DO I NEED TO PAY NOWLOAN?
Simply speaking, there are NO additional costs or hidden fee’s you need to pay NowLoan.
We do our best to facilitate a loan lender that fits perfectly with our client’s financial requirements and circumstance – all while entirely FREE.
We may receive a commission from some of the lenders on our panel if you enter into a loan agreement with them after being referred by us.
I HAVE A BAD CREDIT RATING; AM I STILL ELIGIBLE?
Absolutely! Whatever your credit score; there could be a lender on our panel willing to lend to you.
We want to help anyone who needs urgent cash and work alongside many lenders who individually consider people with less than perfect credit histories.
If you have a bad credit rating and still need access to emergency funds or a loan, either fill in our form for a free quote or contact us for more information.
WILL NOWLOAN AFFECT MY CREDIT RATING?
We do not run a hard credit check when you submit a loan application. The application will be noted on your credit file if you decide to apply for the loan (after we’ve given you the quote).
When you submit our quote form for a free loan quote, there is no effect on your current or future credit rating score.
Any implications to your credit score will occur if you agree to a loan and fail to make repayments accordingly.
Each detail from your quote form submission is cross-referenced with our available lenders, and our smart search technology works to find the cheapest lender for you from our panel.
WHAT IS A THE REPRESENTATIVE EXAMPLE OF A NOWLOAN LOAN?
A representative example is a financial concept created to help an individual understand every fee and cost they will be subjected to once they have taken out a loan.
Every online direct loan lender or credit broker is liable to provide a representative example, to outline clearly to customers the total amount they will have to repay.
Below is a representative example using (variable) figures to help you understand the average cost of loans from our panel.
Representative APR 49.9%
Loans available from 3 to 36 months. APR ranges from 8% to 1493.7%, loan rates depend on terms and personal circumstances.
HOW LONG DOES IT TAKE TO GET A QUOTE?
We understand that many people are looking for quick cash to be deposited into their account as instantaneously as possible.
NowLoan’s application is entirely free to use and only takes approximately 2-5 minutes to complete.
Once you have filled in all your details and submitted your application request, the funds can be transferred directly to your bank account within 15 minutes^, if approved.
However, the length of time to transfer funds can vary depending on your bank’s policies and individual lenders policies.
To start the process to receive quick cash, get a quote and discover if you are approved, today.
WHAT HAPPENS WHEN I REQUEST A QUOTE?
Requesting a quote is 100% free and will not affect your credit rating (unless you formally apply for the loan after being redirected).
The first step in receiving a loan quote is by filling out our free, online quote form which should take no longer than 2 minutes.
Once the quote form has been completed, every individual and specific detail you provided will be cross-referenced across our panel of available loan lenders.
Based on your circumstance, NowLoan will find the cheapest lender from our panel willing to say yes to your loan.
If you choose to go ahead with the loan, you will be redirected to the lender’s site and from there will follow their protocol.
If you just wanted to have a look at the possible loans available to you, it won’t affect your credit score.
HOW DOES NOWLOAN WORK?
Once you submit your loan quote form through our website, we match your details against our list of UK lenders and provide you with a quote from the cheapest lender on our panel likely to say yes to your loan.
You are then redirected from our site to the lender’s page displaying all the details of the loan they’d like to offer you.
You can then read the details of the offer and decide if you would like to go ahead and formally apply for the loan.
The benefit here is that there are no hard credit checks done while finding your quote and, you’ll be getting a quote from a lender who has already indicated they’d like to lend to you.