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Once we’ve found you a loan, then you can apply with the lender directly. They may require some additional information and documentation.
This two-step process is the quickest way to find out if you are eligible and it ensures that you get the loan you want. When you first fill out that application form on our page, we ask you what kind of loan you are hoping to get.
We want to know a few specifics about the loan so that we can connect you to the best lenders for your situation. Not all of our lenders offer the same loans, so it’s important to filter through them to find the most appropriate choice.
Now, let’s answer a few quick questions you may have about the lending process and how it works here.
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10000 loans: The available options and where you can find them
With a £10,000 loan, you can do some major improvements in your life, from enhancing your home, purchasing a new car, or start a business. And if you live in the UK, the good news is there are plenty of lenders that can give you this kind of funding including banks and credit unions and even online lenders as well. Now if you want to obtain10000 loans without much stress and hassle, below are some of the things that will help you out.
How to obtain instant 10000 loans
If you need to obtain 10000 loans immediately, you can count on a good amount of lenders in the UK that provide same day processing and funding services. Simply put, if you successfully complete an application today and the lender approves it before the cut-off time, you can have the £10,000 loan deposited into your bank account within the day! Same day 10000 loans are available from various lenders depending on your credit rating:
- Banks, credit unions, and other traditional lending institutions normally cater those who have good credit ratings. It would also be easier to take out the loan from your own personal bank.
- For people with less than appealing credit ratings, they can rely on non-traditional lenders that can be found mostly online with their more lenient eligibility requirements especially when it comes to credit rating.
Where you can access 10000 loans in the UK
There are a number of avenues that you can look into if you want to obtain 10000 loans in the UK. The ideal place that will benefit you the most will depend entirely on your present needs and circumstances. Your credit worthiness will also be a big factor as the eligibility requirements for the loans will differ from one type of lender to the next.
- Direct Online Lenders – These types of lenders can process 10000 loans quicker than the rest of the pack. Completing an online application loan from a direct online lender’s website is also relatively easy and won’t require you to undergo any kind of hectic step whatsoever. Generally, you can complete a loan transaction in just an hour and have your funds ready for use in the same day or the next business day.
- Peer-to-peer lending – P2P is basically an online platform that links borrowers and investors all over the UK. Your loan will be funded by private individuals who are looking to invest their money through loans and profit from the interest rates that they generate. Just like direct online lending, the entire process is also easy although its not as fast.
- Online Brokers – These are third party sites that will link you to a panel of direct lenders that are willing and ready to cater your need for funding. Online brokers give you plenty of options and the ability to choose from a myriad of potential offers and deals.
- Banks – It’s the best place to obtain 10000 loans if you have at least a good credit rating to show. The biggest advantage of banks is that they generally provide low interest rates but on the flipside, you will need to satisfy a long list of eligibility requirements and provide a lot of documentation to become accepted. For this reason, it’s not only difficult to get approved but the processing time needed to complete your loan transaction is also longer.
- Credit Unions – They can provide even lower interest rates than banks with lesser eligibility requirements. However, you will need to be a member to get a loan from a credit union.
The different options you can consider
Aside from the abundance of lenders that provide 10000 loans in the UK, there are also a number of options that you can consider to obtain them. Now the kind of option that you can qualify for will depend on several factors like credit rating and income level and the ideal one will depend entirely on your present needs and circumstances.
1.) For borrowers with bad credit
There are 10000 loans that are designed to cater people with bad credit but there are often some unique requirements that you will have to satisfy to become qualified such as:
- Securing the loan agreement with an asset that will serve as collateral. In case you default from your loan, the lender can turn to the asset, seize it, and then sell it to recover the money that you still owe them.
- If your credit rating is not enough to satisfy the lender’s criteria, you have the option to enter into a joint loan agreement with someone you trust. With a combined income level and credit rating, you can improve your chances of getting approved.
- You may also be required to put up a guarantor, a person who will co-sign your loan deal and act as insurance if you are unable to pay back the loan. If you default from your payments, the guarantor will have to step in and cover them.
The kind of interest rate that your loan will carry will depend on your lender and how it evaluates the level of risk involved in the credit agreement. If there are high value assets secured on the loan agreement like your home, it becomes less risky in the part of the lender and this can score a lower interest rate as a result.
2.) For borrowers with good credit
Now if you are someone who has good credit, the available options in securing £10,000 loans are greater. You can easily take out an unsecured personal loan from a bank, online lender, or credit union and enjoy better deals with cheaper rates thanks in large to your positive credit rating. You can also apply for both secured forms of loans like mortgage and auto loans if you’re looking to buy a new home or purchase a new car.
5.) For business purposes
10000 loans can also be used for business reasons like jumpstarting a business off the ground, stabilizing a negative cash flow in the short-run, or covering the cost needed for expansion like bringing in new staff, equipment, and the like. The loans can be accessed from Government programs and grants and from private companies as well. Normally, you will need to show proof of a potentially profitable business to become approved.
5 most recent personal loan reviews
There are no other companies who can finance you as easy as Oakam loans, fast, courteous, reliable, no penalties and no hidden fees - real people for working class. Be honest find a friend to back you and you're done. Over 3 months I got £10,000, thank you Oakam you were there for me when all banks said NO.
Review posted by Daniel Fisher, Grantham
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Cashflex was very considerate and understanding in giving a loan to a person with a limited credit history in the UK. Although I am in a well paying job, the fact that I moved recently to the UK makes people like me with a limited credit history look totally untouchable for high street banks. Cashflex opened a door and some breathing space for me, whose only other option would be payday loans. Thank you very much Cashflex!
Review posted by Manu Balewa, Plymouth
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After almost giving up on all my wedding plans due to the fact my grandfather had recently been diagnosed with lung cancer, taking months off work to look after him and attend his treatments, this took a massive impact and couldn't afford to pay our venue. Our wedding is in June and the pressure was getting to much! Not to mention the worry and feeling anxious that my grandad won't be here to give me away, it's basically now or never. So knowing my credit isn't the best I just hit a wall and thought this was the end! Until I came across Flexy Finance loans! After having a chat with my sister who wanted the wedding to go ahead as much as me she very kindly agreed to stand my guarantor! I only applied Saturday evening Tuesday £4000 cleared into my account! So a massive massive thank you! You've not only helped my dreams come true but given my family hope and something very good to look forward to! Would recommend to anyone.
Review posted by Anita Moir, Downham
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305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)
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