Why Getting a Personal Loan Is Not That Difficult
Personal loans are more than what you have known.
At least, that is what I know.
Maybe that is something you don’t know yet, or you are still struggling to comprehend. But that’s okay. 5 years ago, I was you.
That may sound funny, but it is not so in reality. I can tell you that there are a million things I didn’t know about the loans. You can also think that there are no such matters that mean anything to you when I say the sentence: “Loans are Easy Peasy Lemon Squeezy.”
In order to understand the real meaning of loans, we need to come down to the basic idea of why people want a loan. Is it for necessities, or are there a dew greater perks to that?
Well, I can say that you take a loan out because you can get instant money in times of need, and by using this service, you can get to save money as well.
However, that happens when you have already gotten the loan. Can we get it in the first place conveniently?
The answer to that is ‘yes.’
Loans Are Easy…You Just Need to Find the Way
A loan is definitely easy. You can make sure that they work in the perfect conditions once you have taken out a loan and learned all the aspects of it.
I mean, at first, there are loan repayment aspects. Then you get to the point where you learn more about guarantors and then secured loans.
We’re not going to talk about secured loan options in this blog, though.
With that being said, it is time to understand how simple borrowing is always an easy project for you.
The thing is, there are certain aspects that make a loan easy. For example, you can take out a £5000 money loan from a direct lender quite easily if you are frank with your income-related information, your credit score, and many other aspects in a frank way.
In this sense, you don’t have to worry about borrowing as a more complex and lengthy process for you.
With a direct lender, loans are made more flexible. Here is how they work in order to be an easy solution to your financial needs:
- A Paperless Application Form Made It Conveniently
- You Don’t Have to Worry about Credit Score
- You Need Nothing but a Good Income to Make the Loans the Easiest
- The Absence of a Guarantor Means a Faster Loan
- To Conclude: Nowadays, You Get 24 x 7 Lending Services
I bet these points sound interesting to you. Why don’t you scroll down and read more?
A Paperless Application Form Made It Conveniently
Have you heard of online loans?
Well, most personal loans these days are offered online.
You don’t have to worry at all. Your loan is applied online, and the documents are also verified in the online medium.
So, you literally get the loan from the comfort of your home.
You can, in fact, use nothing but your phone and an Internet connection to get the loan.
Lenders also offer the privilege of a digital signature.
But let me tell you about the online application. You must fill in basic details such as your name; email ID; phone number, postcode, etc., to apply for the loan. State your loan quote, and it hardly takes you a minute to finish off the online application form.
Your direct lender will check the loan quote and the requirements. You send your income statements online for verification, and your loan will be approved within 15 minutes. You might get the money disbursed to your account within a day.
You Don’t Have to Worry about Credit Score
Sometimes, I have seen people worry about a bad credit score.
Others think that not having a credit card can cause significant complications.
But that is not it. You will get a loan with no credit check if you are not a credit card holder.
Many opt for doorstep loans as a loan with no credit checks. However, you are deemed eligible for any personal loan other than a doorstep loan if you have a good income yet no credit card.
Now let’s suppose you have a bad credit score. In that regard, lenders can ignore it, provided you have a stable income. If you can pay your lender the monthly installments based on different interest rates without issues, then your credit score is negligible. However, lenders can keep the credit record (they often call this process a soft credit check).
You Need Nothing but a Good Income to Make the Loans the Easiest
Well, it has just been mentioned that you can repay a loan using just your salary. You don’t always need a good credit score or collateral – which then turns the loan into a secured one – to gain a personal loan.
What I found a little attractive with direct lenders is that you can repay using any sort of income. I am a single mother, and I receive allowances. When I applied for money, I had no income but this allowance. I spoke with a direct lender for a money loan on benefits, and surprisingly, I was permitted the money just because I received the benefits program.
The Absence of a Guarantor Means a Faster Loan
Many borrowers often wonder how lenders offer a no-guarantor loan. Is it very complicated? Or is it very expensive?
Well, a no-guarantor loan is quite the same as a personal loan, and there are no differences between them.
Not having a guarantor to help you get the loan saves a lot of time on verification and financial complexities for the presence of two parties. If you opt for a loan with no guarantor, you will ultimately go for easy borrowing.
To Conclude: Nowadays, You Get 24 x 7 Lending Services
Gone are the days when you had to wait in a long queue to sit down in front of your lender with that cluttered paperwork carrying your income proof.
You get an online lending service, and you get to borrow money within minutes from anywhere around the globe. Don’t you think these perks make a personal loan easy enough?
Ailsa Adam is the Editor-in-Chief and former content head at Hugeloanlender. She has been a valuable member of the content strategy team since 2017 due to her abundant experience in the finance sector. Passionate about helping individuals navigate the world of loans and personal finance, she has dedicated herself to acquiring extensive knowledge on various financial products. Before her role at Hugeloanlender,
Ailsa worked as a seasoned journalist and writer, specialising in creating informative blogs and articles on diverse loan types. She is known for her meticulous research and commitment to delivering accurate and engaging content. She holds a degree in MBA Finance and has a keen interest in creative writing and art.