Same Day Lending Explained What Are Same Day Loans?
With same day loans you can apply for the cash you need online, receive an instant decision and have the funds transferred direct to your account all within just 24 hours!
It's an excellent solution if you’ve found yourself in an unexpected financial emergency or you’re simply just a little short on money until your next payday. Borrow from £300 to £5,000 the very same day and repay in low monthly installments over a period of 1 – 24 months.
When Should You Get A Same Day Loan?
It's hard to budget for life's unexpected costs; not everyone is fortunate enough to have a pot of savings ready and waiting to dip into whenever the situation arises. So it's no surprise that most of us will face at least one financial emergency throughout the course of our lives. If you’ve found yourself in this position, you may want to consider applying for a loan through a same day lender.
It's specifically designed to cover all of life’s financial emergencies:
- In-between jobs and in need of a little help to bridge the gap until your next payday?
- Maybe your car has broken down, but you need it to travel to work or take the kids to school?
- Perhaps your fridge or boiler has stopped working and you need to pay for repairs urgently?
Whatever your situation, if you need to find money in a hurry, this type of loan could provide the perfect short-term solution!
How Does It Work? Applying For Same Day Loans Online
Before making an application with any same day lender, you should always ensure that you fully understand the ins and outs of the process. Knowing what to expect will help to determine whether a same day loan is indeed the right choice for you and assure that you don’t encounter any surprises later down the line.
From applying to receiving the money, we’ve broken down the process into three simple steps below:
See How It Works In 60 Seconds
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Making An Application
Applying for a same day loan online is incredibly simple and convenient. You can apply from the comfort of your own home or on the go, simply by completing a short, online form. There are no calls or paperwork necessary and you can expect to receive a decision within just 15 minutes.
What Information Do You Need To Give In The Application?
Contact Details - you will need to provide your full name, date of birth, email address and contact number. This goes without saying, but it is very important that you check these details are correct before submitting, otherwise the loan provider will be unable to notify you if you are accepted.
Address - you must provide your full address and give details of how long you have lived at this address for. You’ll also need to specify whether you are a homeowner, private tenant, council tenant or living with parents.
Employment Status - you’ll be asked to answer whether you are currently employed. If you are employed, you’ll also need to specify how long you have been employed for and give the name of your employer. Please rest assured that although the lender may contact your employer to verify your job role and income, they will not reveal details of the loan or your financial situation at any point.
If you are currently unemployed you will need to give details of what benefits you receive and when you receive them.
Income - alongside your employment you will also need to give details of how much you earn and how regularly you are paid e.g. fortnightly, monthly etc.
Outgoings – give details of your expenses, such as the amount you spend on your monthly rent/mortgage payments and utility bills.
Bank Details - finally, you will also be asked to provide your bank details. Please note that these are used for verification purposes only. No money will be debited from your account. These details are used purely to corroborate that you have a UK bank account so that the lender can transfer the loan directly to you. « Show Less
Why Choose Us? We search an extensive panel of same day lenders to find you a loan which best suits your individual needs. This includes finding you the best rates on the market and a personalised repayment plan to suit. In other words, we do all the hard work, so that you don’t have to!
Getting A Decision
Having submitted your application, the loan provider will first perform a ‘Quotation Search’ on you. This is also commonly referred to as a ‘Soft Check’, which ultimately means that it will not leave a mark on your credit file. Lenders are able to quickly check your credit history and decide if you are suitable candidate for a loan within as little as 15 minutes. Providing that you pass this stage, you will receive an offer! Read More »
Before the agreement is finalised you will also be subject to a ‘Hard Check’. The loan provider will look further into your credit history and it is important to note that this will leave a record on your credit report. « Show Less
Be Aware: All legitimate FCA registered lenders are obligated to carry out credit and affordability checks on applicants before lending you any money. So, if you ever see an advertisement for ‘same day loans no credit check’ it is highly likely that the organisation is not regulated or authorised and you should be wary of proceeding with such a lender.