Loans can be complicated, and lenders often add to the disorder with monetary jargon that is not easy to understand. To avoid hidden surprises, it helps to know everything there is to know about the loan you are bearing in mind. Here, we’ve covered what short-term special loans are, why you might choose one, their advantages and disadvantages, and get your loans by short-term loans.
A ‘short-term loan’ is as its name suggests: it’s a loan with a quite short repayment period. This can range from around as little as a week to a number of months depending on the lender and their policies. This is careful short-term when compared to usual individual loans which usually have a repayment period of a 12 month or longer.
Because the time frame of short term loans is considerably less than other types of loan, the amounts lent are typically quite small, generally ranging from £100 to £1000, to help borrowers quickly get out of a temporary financial tight spot, as well as posing less risk to the lender.
Get your loans can assist borrowers with emergency expenses that swiftly arise. For example, if you need to immediately repair your car, or fix a broken boiler and do not currently have the cash to cover it, a small terms loan could be an obliging solution. The short time frame of the loan allows you to pay it back when you have more cash, without committing to a long-term contract.
A short-term loan is handy because it’s so simple to apply for and it’s often easier to get accepted for than long-term or short-term loans for those with poor credit, in particular, are also generally easier to obtain than a long-term loan. Depending on your lender, a short-term loan won’t need much paperwork and the cash arrives in your account the same day, to help you get out of any pressing monetary struggles.
On the other hand, because the amount on loan with a short-term loan is usually minute and to be repaid fast, often in one go, there is added risk to the lenders who offer them. As with any type of credit agreement, if you don’t make your repayments on time it could have an effect on your credit score. With some short term loans, you could be faced with late refund fees by certain lenders if you fall behind on repayments.
At get your loans, we offer short-term loan options. The amount we bid ranges from £80 to £1000, over terms between six and 14 months. Our short-term loans are totally flexible, and you can pay more each month if you wish, or pay back the whole sum early to save cash on interest.
Our interest is charged daily and is capped at a maximum of 0.8% per day. On top of that, if you decide you’ve changed your brain, you can cancel your loan within 5 days of taking it out and pay back only the main amount with no fees or interest.
At get your loans, we arrange one of the most flexible emergency monetary solutions in the UK. As well as our flexibility, get your loans is different from some other loan companies because we have no extra cost guaranteed. This means that we don’t charge fees for late repayments, application fees or direction fees, so all you have to pay back is the unique loan amount, plus interest.
We function with simplicity, honesty, and simplicity. We make everything, as well as the fine print, simple to understand by bountiful you all the details you need upfront, before you apply. We aim to assist you every step of the way, so even if you are stressed to make your repayments, we work with you through any financial struggles and give a lifeline in your time of need.
Applying for a short-term loan with get your loans is fast and simple. You apply online by offering us with your individual details, such as your name and date of birth, your address, and your bank and employment details. We will then carry out a fast but thorough credit check. The credit check we carry out is in place for the applicant’s security, to ensure we aren’t lending someone more than they can happily afford to repay.
Your credit score is a summary of your monetary the past and is made up of in order such as court records, electoral roll information, and details of other lenders that have search your file, addresses you’re linked to, bank accounts, loans, mortgages, utilities and mobile phone contracts. Even if some of your history is unfavourable and you have a poor credit score, our short-term loans could still be an option for some borrowers.
You will receive a decision on your application fast and if approved, the cash you borrow will be sent to your bank in as little as 15 minutes so you can solve emergency fixed cost without delay.