Representative Example: 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).
If you’ve ever been in a situation where you need to borrow money quickly for a last-minute emergency, you’ll know how stressful the experience can be.
Life is unpredictable.
That means that even if you’ve got a great budget, and you spend time checking that you’ve got enough cash for each of your bills at the end of the month, you might find yourself without enough money to make ends meet.
Sometimes, things like an unexpected speeding ticket (it happens), a broken kitchen appliance, or even a problem with your car could mean that you’re left struggling to find cash. That’s where emergency, short-term loans come in. When you don’t have someone in your family who can give you a spare £1000 when times are tough, and your emergency savings account isn’t as healthy as it should be, emergency loans are there to help.
Here’s your guide to getting money immediately, when you don’t have time to waste.
Representative Example: 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).
If you’re buying something as part of your long-term financial plan, there are plenty of ways to track down the extra money you need. For instance, you can easily get a mortgage to help you pay for your home over an extended period of time. Alternatively, if you’re looking for a new car, you might decide to buy that vehicle on finance and pay it off gradually, rather than buying the car all-at-once.
However, life doesn’t always go according to plan. When you suddenly have a problem with your boiler and you need £200 to fix it, your personal loan provider might not be able to give you the cash you need immediately. That means that you and your family are sat in the cold for days, or even weeks while you either wait for your next payday to come, or you get approval for your loan.
Emergency loans, payday loans, or short-term loans are all terms used to refer the quick last-minute cash solutions that are available for people who can’t afford to wait around when they don’t have extra cash available to pay for a sudden expense. In an ideal world, we’d all have savings accounts, but when that fails – emergency loans have you covered.
As the ultimate source of support for people who need to get money now, emergency loans are designed to be quick and simple to access – no matter your background. More often than not, you’ll be able to apply for these loans online using a simple form, which means that you spend less time chasing around after banking advisors and experts.
To get your emergency loan, you’ll start off by checking in with a company like Boutell. We’ll help you to find the best loan products for your needs based on a number of factors. When you work with a broker like us, you can reduce your risk of being rejected from a loan, which could leave black marks on your credit history, and make it harder to apply for credit in the future.
Working with a broker also means that you don’t have to do all the hard work of comparing loan products from different providers. Although you can get some basic insights into what other loan companies will offer you by yourself, this usually means filling out a ton of different application forms, which is bad for your credit rating, and stressful too!
By filling out a basic form with a broker, you’ll be able to simplify the process of getting the best payday loan. We’ll ask you a few basic questions about what you want to borrow, and how long you need the money for, then come back to you with a list of companies that are likely to approve your application. Crucially, we only list companies that are regulated by the FCA, so you know your money and your future is protected. What’s more, we focus on finding the best deal, with no hidden fees or excessive interest rates to worry about.
Once you choose a loan that’s suitable for you, you can usually get the money that you need into your bank account within 24 hours or less. Some of the most popular payday loan companies can even deliver cash to your account within as little as one hour – which means that you can buy whatever you need instantly – with no waiting around.
These days, it’s easier to get money now than ever before. If you’re in a tricky situation and you need to borrow money quickly, you don’t have the time to wait around for a personal loan company to approve your application. You also don’t have the patience to sort through countless loan providers searching for the right option. Fortunately, with a loan broker like Boutell, you don’t have too as Boutell makes it easy to get short term loans online.
Not only are emergency loans easy to apply for with us, but they’re incredibly simple to be approved for too. Payday loans and quick loans are generally a lot easier to get approval for, because you’re only borrowing money for a very limited amount of time. Because your lender isn’t taking on as much risk by giving you the loan, you can usually get the cash you need even if you don’t have the best credit rating. Just keep in mind that all lenders will still need to check your credit to comply with the regulations and rules of the FCA.
The good news is that once you apply for your loan and get approved, you’ll be able to access your money quickly, and you shouldn’t have to explain why you need it either. Payday loan providers don’t ask you to meet with a counsellor to discuss your loan. If you pass the affordability check part of the loan where they determine whether you can afford your repayments, then you’ll be ready to go in no time.
Another big benefit of payday or short-term emergency loans is that you don’t have to worry about being in debt for long. For some people who worry about finances, the very idea of being in debt can be enough to give them a stomachache. However, with a payday loan, you’re not paying back installments for months or years at a time. More often than not, you’ll have a single bulk repayment to make, and after that, you can forget all about your loan.
Your payday loan might not even effect your long-term budget.
The easiest way to apply for an emergency loan is to let Boutell do the hard work for you. However, you can make sure that you’re prepped for success before you come to us by checking that you meet with the standard criteria for a payday loan.
Don’t worry. Most people are eligible for a payday loan in the UK. If you’re over the age of 18 and you live in the country as a registered citizen, you’re already on the right track. Some loan providers will also have other rules in place that you need to think about before you apply. For instance, a lot of payday loan companies will want to see evidence that you have a job that pays you a regular monthly wage. This simply reassures the loan company that you will be able to pay back what you borrow.
You’re also going to need to show that you’ve been in employment for a while. If you move around through jobs quite frequently, then your loan provider might be worried that you’ll end up leaving your current post before you’ve paid back what you owe. On top of that, it’s important to make sure that you have an email address and phone number that your lender can use to contact you if they have any questions about your application.
Aside from those basic guidelines, applying for a loan online with an emergency lending company is a relatively painless process. Usually, most companies will be able to tell you if you’ve been approved for a loan within a matter of hours – which is perfect if you’re worried about an emergency expense that you need to deal with as quickly as possible.
Just remember that not all lending companies are alike. Though there are a lot of brands out there that can offer bad credit guarantor loans today, the deals that they give you will differ based on a number of things, including their background in the industry, and the regulations that they follow. Some lenders will only be able to give you a very small amount of cash, under £500 or so. On the other hand, other companies will be able to lend as much as you need up to a few thousand pounds if you can afford to pay it back.
Working with a broker will save you the stress of searching through emergency lenders for the right option when you’re eager to deal with a difficult situation.
