Direct Lender Loans UK
Sometimes we are hit with the most unexpected bills. This could be from things like a car repair, a broken boiler or even medical bills. The unfortunate factor is that not everyone has the savings or even the money to pay the amount they need too. So, if you are needing a sum of money for a financial emergency, the best thing for you to do is to consider all of the options you possibly can. Yes, direct lender loans UK are a great way to get your hands on everything you need and fill the gap between paydays, but that doesn’t mean that they are the best way.
The are plenty of direct lenders who offer loans in the UK, but do you know the difference between them all? The answer is probably not. Here at BingoLoans, we are a direct lender who can provide you with what you need.
What are Direct Lender Loans UK?
Direct lender loans are types of loans which are provided directly straight from the lender you applied with. In other words, a direct lender is there to cut out the middle man. If you are using a direct lender you have all control when it comes to finding the best lender. The main downside to this is that it could take a lot of time. This isn’t good when you don’t know what you are looking for, or even when you don’t know what makes lenders different.
What is the difference between a Direct Lender and a Broker?
The main difference between a lender and a broker is that a lender can offer you a loan, whereas a broker finds you a lender. There are multiple pros and cons to both direct lenders and brokers but they both equally have their own strengths.
If you have a high credit score and have found a lender you would like to use, the likelihood of getting accepted is high. But, if you apply with a direct lender you are limited to just their services. This means that if you are denied, you have to go through the whole process of finding a lender, gathering all your details and imputing them into the application form again. Whereas, with a lender, the process might take slightly longer, but, they will do all of the work for you. Applying for a loan with a broker is a speedy process. In other words, once you have completed and submitted one application, you won’t need to do any more. This application is forwarded to other direct lenders and then they can choose to accept you.
Why should I use BingoLoans?
BingoLoans are a direct lender and broker who can provide you with exactly what you need to get a loan. We offer short term and payday loans. This allows you to borrow from £100 to £1,500 for up to 12 months. Being a broker and a direct lender means that your chances of getting a loan are higher than if you just used a lender. If we cannot offer you a loan, we can pass your application onto the UK’s largest panel of direct lenders. This means that it is highly likely you will get an offer from them.
How to apply
Applying for a loan with BingoLoans is an easy, streamlined process. As a direct lender in the UK, we believe that an easy online application is the best way to go. Once you have filled and submitted your application form, you will be soon after be informed whether or not you have been accepted for a loan.