UK Finance Alternatives Include Flexible Short Term Loans
Loan terms vary from one finance opportunity to the next. Long-term financing such as mortgages and personal instalment loans may have repayment periods stretching out for years. Short term loans, on the other hand, serve immediate finance needs and require prompt repayment. Similar to bad credit loans.
How much would you like to borrow?
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).
Cover Costs With Short-term Loans
Personal spending priorities include long-range plans such as buying a house and sending children to university, as well as meeting short-term day-to-day financial obligations. Long-term planning accounts for substantial finance requirements, whilst short-term demands are commonly covered using household earnings, credit cards and small loans.
Short-term online loans provide flexible finance solutions for UK consumers needing immediate financial relief. The loans deliver several benefits, including unrestricted terms, allowing users to spend loan proceeds as they see fit. Common spending applications for short-term loans include the following spending concerns. Use your short term loan to:
- Offset cost of living increases – With prices on the up, your household income may not keep pace with rising costs. When you can’t quite stretch your earnings between paydays, a short-term loan may be all that’s needed to carry you forward, until your next payday.
- Fund your education or help send your child to university – Whether you are pursuing academic credentials or helping your children pay for school, extra education expense can undermine your budget. A small, short-term loan may not pay your entire tuition bill, but the flexible funding can help with books, accommodation, transport, course materials, and other related university spending. Even with help from student finance, the ancillary costs of earning an education may be enough to create excess financial pressure; short-term loans add another funding resource for student families.
- Repair your house – Home ownership is a closely-held financial priority for many UK families. For those fortunate enough to realise the dream, putting by a deposit and securing a mortgage are just the beginning; the costs of owning a house continue well beyond its purchase date. From your heating and cooling equipment to the roof over your head, household systems are subject to mechanical breakdowns and other unexpected repairs. An emergency fund can help you offset the cost of repairs and updates, but without money held in reserve, fixing your house may call for outside help. Online lenders provide flexible short-term loans, which can be applied toward household repairs.
- Pay your bills – Despite earning a steady income, it is still possible to run out of money before all your monthly bills have been paid. A poorly timed credit card bill or unexpected utility expense can put you a step behind, managing household expense. Small, online loans deliver quick cash; the short-term funding alternative can help when expenses arise between paydays.
- Treat yourself to a getaway – Short-term loans help UK consumers manage spending emergencies, but the resource can also be used to pay for travel and holiday expense. If you’re overdue for a getaway and would rather not run up credit card charges, funding leisure travel; online lenders can help with short-term finance. In order to benefit from travel protection, holidaymakers may choose to utilise credit cards whilst away, and then pay off balances with a short-term loan, upon returning to the UK.
- Manage motoring expense – Keeping a car results in various expenses. From your car’s initial purchase price to the cost of repairs and maintenance, staying on the roadways requires a substantial budget. Proper planning helps to anticipate many motoring expenses, but mechanical failure and unexpected repairs may create financial pressure. Short-term loans assist motorists, when cash flow and savings don’t measure up to car costs.
- Make a move – Moving house consistently ranks among life’s most stressful undertakings; the process is frequently complicated by financial worry. Relocating for your job may include financial consideration from your employer, but making a move on your own is a costly concern. Hiring a removal company adds to the price of moving, but even a self-move generates spending above and beyond your customary budget. Moving supplies, cleaning services, and doubled-up house payments can all impact your finances during the transition; short-term online loans solve the problem for some UK families on the move.
Short-term Finance Solutions for Quick Cash
When money’s needed, UK consumers choose from several finance options. Among the online solutions available to qualified applicants, short term loans deliver several benefits. In contrast to many conventional lending options, short-term online loans present the following advantages.
- Speed – Online lenders specialise in fast funding; you’re in good hands when money is needed in a hurry and have bad credit. Quick turnaround times facilitate rapid funding, putting cash in your hands, without delays. Conventional lenders, on the other hand, may drag out the application and approval process, conducting in-depth credit checks and pushing your paperwork through cumbersome stages of approval. After your short term loan application is approved online, loan proceeds are transferred directly to your current account, further expediting the funding process.
- Simplicity – Short-term loans originate online, streamlining the application and approval period. Your online request for quick cash takes only minutes to complete, before electronically submitting the short-term loan application. Unlike applying with banks and building societies, working with online providers doesn’t require in-person visits or extensive documentation. Online lenders focus on earnings and employment, rather than credit scores, enabling them to quickly process applications and issue funding, without complications.
- Flexibility – Online loans fund in amounts ranging from £50 – £2,500. The flexible arrangements allow you to borrow only what you need, avoiding excess repayment interest. Loan terms are tied to your payday schedule, facilitating a flexible repayment schedule you can afford. Once approved, your short-term loan can be utilised as you wish, offering a flexible spending solution for diverse personal finance needs.
- High Approval Rates – Conventional lenders utilise an eligibility formula that excludes many applicants. Under scrutiny at banks, credit unions, and building societies, consumers with imperfect credit are often passed over for financing, due to past credit inconsistencies. Though online lenders are also required to consider applicants’ credit status, short-term loan specialists use different metrics to evaluate creditworthiness, often resulting in higher online approval rates. Even if you’ve been turned away at your local bank branch, alternative short-term loans may be available to you – despite a so-so credit score.
- Efficiency – Boutell is a loan broker, linking applicants with lender resources for short-term financing. A single application is all that’s required, unlocking access to a wide network of top UK lenders. By comparison, applying at individual banks calls for submitting a separate request at each lending institution. The process not only requires substantial legwork, but it is also inefficient, compared to Boutell’s brokered short-term loan services. Making a suitable lender match online takes only minutes, without failed attempts at brick-and-mortar bank branches.
Short-term Loan Alternatives
Spending emergencies and unexpected expense require prompt attention, before cash flow problems become unmanageable. Payday loans and other short-term finance alternatives provide worthy solutions to many spending dilemmas, because the money arrives on time, without unnecessary delays. Additional strategies for addressing urgent financial demands include these methods:
- Earn More Money – Taking a second job or adding hours at work can help you sort out financial issues. Extra earnings aren’t always delivered right away, but certain one-off cash jobs do provide timely access to funds. Retail, hospitality, and labour positions are commonly available, without long-term employment commitments.
- Sell Personal Belongings – Online marketplaces facilitate fast sales, enabling you to sell personal items for quick cash. Collectibles, lightly used electronics, and entertainment media are in demand, generating extra income in a pinch.
- Utilise Revolving Credit – Credit card convenience streamlines transactions and offers buyer protection for users. The credit resource can also be utilised for short-term spending needs, above and beyond your monthly income. Unpaid balances that roll over from one month to the next are subject to finance charges, so cards should be used with discretion.
- Lean on Friends and Family Members – Commercial lenders aren’t the only source of funding; friends and family members may also be willing to provide quick cash in an emergency. Friends and family loans offer advantages, including convenience and the flexibility to set your own terms. In order to avoid family friction, write a loan contract and follow through with whatever arrangements are agreed upon.
- Work Out a Payment Plan – Creditors may be willing to make concessions to help you stay current. If you’re unable to meet a financial obligation on time, contact the party directly to work out a payment plan.
Short-term loans provide quick cash for flexible spending. Whether you need £100 for your energy bill or £2,500 for a costly car repair, the online resource can help you make ends meet.