The internet has revolutionised the way that people borrow money. Gone are the days of having to make an appointment with your bank manager only to have to wait weeks for a final decision.
Instead, the popularity of many bank loans have been overtaken by internet providers who can not only offer cheaper rates through lower overheads but can also provide a wider range of borrowing solutions.
Short term and payday loans are just two examples of those which are tough to get through traditional bank loans. The speed at which applications can be completed and decisions are made helps to give you the peace of mind that you’ll be able to access the funds you need when you need them most.
What Are Bank Loans?
Bank loans is an umbrella term which can be used to describe everything from mortgages to short term loans. They can offer a range of terms and lump sums to help with buying a property, purchasing a vehicle, home improvements and more.
Applying for bank loans UK wide has proved difficult for borrowers since the financial crash with many applications that would have been accepted now being turned away.
This left a big gap in the UK borrowing market which has since been filled by independent and mainstream lenders looking to offer consumers a greater choice than just simple bank loans.
Why Use CreditRaters.com?
CreditRaters.com moves away from traditional bank loans by offering borrowers the chance to compare personal loans in a simple online environment.
Simply provide us with your basic requirements along with some added information about yourself and we’ll search hundreds of loans like bank loans on your behalf to help find you the best deal possible.
We’ll always present you with a range of options and it’s down to you to decide which lenders best suits your circumstances. It’s a good idea to take into account a similar range of factors as you would with UK bank loans, including:
- Interest rates
- The speed that funds will reach your bank account
- The monthly repayments
- The total amount repaid
- Any early repayment fees
Once you’ve chosen a suitable lender simply complete the remaining part of the application for an instant online decision. As with bank loans, the funds will be transferred straight into your personal bank account, however this process is usually a lot quicker through online lenders and can be arranged on the very same day that you’re accepted.
Struggled to get a bank loan due to bad credit? No problem! Whilst high street lending has tightened its purse strings for bad credit loans, the online market place still offers plenty of hope for those with a less than perfect credit score.
Just because you’ve been turned down by a high street bank doesn’t mean that all other lenders will come to the same outcome. We work with a range of specialist lenders who take each application on its own individual merits, giving you a great chance of quickly finding the funds you need.