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 have found yourself in need of an urgent loan, do not worry. You’ve come to the right place. We’re Boutell, a UK based short term loan broker boasting an extensive direct lender network partnership featuring over 30 lenders. Lenders that specialise in facilitating quick and easy, short term cash in an emergency. Our process is simple, just meet the eligibility criteria below and fill in our simple application form.
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).
You will receive an instant, on screen decision within minutes and you could be approved for a cash loan of up to £5,000 today. Loan funds are also transferred on the same day which you apply if processed within regular working/business hours. It’s a true fast cash service, delivering cash in an emergency when you need money now.
Our criteria for emergency loan approval are no different from that of our regular cash loan products. You must meet all the below requirements for us to be able to process your loan application. We are a no guarantor loan service also, so any credit based considerations will be performed on the applicant solely. As we’ll outline further below, affordability is key so please be as honest as possible when completing the form.
You must meet the following eligibility criteria to apply for an emergency loan with Boutell: –
If you meet all the above, we’ll welcome your application via our online application form.
Boutell is partnered with over 30 UK based, FCA regulated direct lenders – a lot of whom specialise in helping people with a less than perfect credit history. So, our approval percentage rating is relatively high. Particularly when compared to high street banks. A lot of this is down to our partners placing affordability at the forefront of their decision making process. Having a regular income and surplus funds available to service a loan once all your monthly expenses are covered is looked at favourably. Even if you currently possess a below average credit score or have a chequered credit history. It is not the be all and end all.
If you have taken the time to research the various lending products on the market, you’ll no doubt be familiar with some of the key differences between short term, emergency cash advance funding and regular personal loans such as those offered by traditional high street banks. Essentially, it all centres around the amount borrowed, the term (length of the loan) and the overall purpose. Loans for small amounts of money, paid back over a relatively short space of time and used for day to day living expenses tend to fall under the emergency or urgent loans umbrella. Loans for larger amounts, typically taken over 12 months or more and used for a specific purpose such as home improvement, a new car or education tend to be considered personal or unsecured loans rather than emergency funding.
Here are some pointers to outline what is considered an emergency loan: –
Taking on credit such as an emergency loan and successfully meeting all the repayment demands is a great way to bolster or even repair a damaged credit rating. And whilst this might sound like a relatively straightforward exercise, many fail to keep up with repayments and can find themselves in a debt spiral which is notoriously difficult to recover from. Setting a proper budget and setting up automated, monthly payments are sure fire ways to make sure that you can 1) afford to make the repayments and 2) that you’re never late in making them. Below we’ll explain the benefits in doing so and how the repayment process works with regard to our own lending partners.
Budgeting quite simply is the key to successful money management. Knowing what you have coming in (income) and what is going out (expenditure) allows you to plan and allocate your money accordingly. If you budget correctly, you will not miss any important repayments such as the one associated with your emergency loan and you’ll also avoid any additional charges by way of overuse fees or late/missed payment penalties.
It makes sense to define your budget before you even start the loan application process. This way you can determine that you’re able to make the required monthly repayments without leaving you short in other areas. It’s also a great way to gauge how much surplus cash you have month to month. This same information will also be considered by our emergency lending partners as part of their affordability checks. So you can gauge how successfully your application is likely to be before applying.
You will notice that during the application process, your bank details are requested. This request does not form part of the formal credit checking and eligibility confirmation procedure. It is used primarily for the transfer of the loan funds and the setup of a direct debit arrangement between your bank and that of the lender. This allows you to automate your monthly repayments thus alleviating the need to make manual, one off transfers. You must however have funds available for the transaction to process. If you do not your bank may charge you an unauthorised overdraft fee and interest on the amount overdrawn.
There are a lot of falsehoods surrounding credit checking, particularly in the short term loans area. Are credit checks performed? How important are they and what is considered good / bad credit when looking to borrowing small amounts of money over a short period. Below we’ll seek to answer and alleviate many of these concerns. At this stage, the most important thing to remember is affordability trumps your credit history, so you do not need to worry about applying with bad credit or attempt to seek out loans without a credit check from unauthorised sources.
Regardless of your credit score or history, your application will be processed in the same manner, and you’ll have access to the same direct lender pool as those with a good or even perfect credit rating. Bad credit, in general, has a wide scope and there is significantly more to it than simply a low arbitrary score. An applicant with a long history of missing payments and never fulfilling the terms of the loan agreement would be treated differently to someone who hasn’t had the chance to build up a credit score yet due to not having access to credit previously or someone who missed a few payments 5 years ago due to an oversight. And even if you have very bad credit but can demonstrate today that you have the funds to comfortably afford the loan repayments, you may still be approved.
It’s a common misconception that given the relatively small amounts of money involved and quick turnaround time that emergency loans do not require a credit check. This is simply not the case and any FCA authorised, UK based lender must perform a credit check before approving any loan application, regardless of amount, type, or term. Even quick loan providers. The lenders we’re associated with perform what is known as a soft search during the application process. This typically yields the same set of information you’d see if you were to perform a credit check on yourself. No lasting record of this type of search remains on your report, however. So multiple searches will not have a negative effect on your score. If you choose to proceed with the loan offer presented to you, a full credit search will be performed.
Boutell’s service operates entirely online. There are no phone calls or additional paperwork to complete to process or verify your application. Even our loan matching and brokerage system is entirely automated, seamless, and processed behind the scenes. Likewise we require no documented proof of intended purchase as all the loans we offer are deemed cash for any purpose. You can complete our emergency loan application directly online and get a decision presented to you on screen within mere minutes.
If you find yourself in a financial emergency, do not panic. You’re not the first and you certainly won’t be the last. Boutell specialises in emergency funding, facilitating loans for people when they need it most. Here are some common reasons for needing a loan that our customers have provided us with.
All the loans offered via Boutell.co.uk can be transferred same day assuming that the application is made within regular business hours. This service is not something exclusively reserved for our emergency lending service. With that said, loan transfers are initiated at the discretion of the direct lender our brokerage system matches you with. Some processes are automated, some require manual interaction. Typically, if you apply for a loan on a weekday between the hours of 9am and 5pm, it is highly likely you will receive the loan funds in your designated bank account on the same day. If you apply outside of these hours, on a weekend or even on a public holiday. It may not be actioned until the following working day.
Please also give consideration to your own bank’s processing times also. Some banks only process incoming transfers at certain points of the day. Some only once per day. So please keep this in mind if you’re looking for cash in an emergency and require funds immediately.
Boutell is committed to delivering exactly what our customers need. Quick and easy access to short term cash. Here are some reasons why our customers love us and often turn to us when they’re facing financial difficulties: –
