How Easy Is It To Get A Quick Loan?

Quick Loans

You can still get a quick loan…

…but it’s no longer as easy as it once was to get a quick loan but that doesn’t mean you can’t get one. It just takes a little longer as the financial crisis has seen Lenders become more cautious.

Criteria is tighter, for now, but rates are lower, lower than they’ve ever been in some cases.

You have 3 main options when it comes to a loan and depending on your circumstances each will vary in the speed at which you can attain them.

Your loan options are;
Home loans
Unsecured loans
Payday loans

Each type of loan has it’s pro’s and con’s and not all are available as quick as some would like. However at most two weeks should see you have the money in your bank from a secured loan or an unsecured loan. Payday loans are off course available the same day in some cases.

Home Loans

To qualify for a home loan you will need collateral in the form of property. You will also need equity in this property to offset the secured loan.

Home loans take a little longer to set up as there’s more paperwork but the rates are lower because of the collateral utilised.

A home loan is the best option for loans of a larger amount from £5,000 as they will prove the most cost effective.

Unsecured Loan

Basic eligibility is for an Unsecured Loan is decided on the basis of your credit rating. Bad credit doesn’t mean you can’t get and unsecured loan but the interest rate will probably be higher as you are not offering collateral.

Payday Loans

A Payday Loan can see cash transferred to your account on the same day that you applied. Payday loans are the quickest loans available but also the most costly with interest rates of 2000%+. In general Payday Loans should be utilised for short-term cash emergencies only as the interest rate is so high.

Which ever loan appeals to you the quickest way to find the right loan is to let a professional search the market for you to find the best deals and lowest loan rates.

To further speed things up good credit, collateral and a Guarantor will further shorten the timescale.

Whichever route you choose to take Quick and Easy Loans can help. Apply here for your quick loan, it’s a quick application with no obligation.