There’s often a lot of confusion about the differences between direct lenders and brokers within the UK market, but the reality is that they work together to help match the right consumers with the right lenders.
Let’s take a look at what direct lenders actually are and how you can apply with direct lenders today through CreditRaters.com.
The actual businesses that issue funds to UK borrowers are known as direct lenders. These are the lenders that consumers deal with when it comes to signing credit agreements, receiving funds and making the agreed repayments.
Whenever you apply for a loan, the direct lender that you choose will be responsible for assessing your application. They’ll use their own eligibility criteria to determine whether to accept you or not which is a big plus for those who have perhaps been turned down elsewhere or wish to use other lenders than they have done in the past.
Direct lenders exist in every facet of the lending industry, including:
Finance brokers such as CreditRaters.com work hand in hand with direct lenders to help customers quickly find the perfect loans for their needs. With hundreds of direct lenders now operating in the UK, assessing the costs and merits of each one individually would not only take weeks but could then still result in an unsuccessful application.
At CreditRaters.com, we use the information you give us to match you with the most suitable lenders at the most competitive rates. We source our indicative quotes directly from our panel of lenders ensuring that you’ll always have access to the most up to date interest rates, fees and repayment terms possible.
Although you’re of course more than welcome to do your own research when it comes to which direct lender to choose, it’s now become commonplace for borrowers to use online comparison services to save significant amounts of time, hassle and money instead.
It all starts by getting an up to date comparison with a brokerage such as CreditRaters.com. We’ll take the information you provide us with and use our years of experience to match your initial application with lenders who can help.
Once you’ve assessed the advantages of each lender from your tailored list, simply select a provider and complete the final steps of your application for an instant online decision. If you’re happy with the final terms offered then all that’s left is to complete your credit agreement online and return it to the direct lender.
Keep a copy of this credit agreement as it will list in detail exactly how much you’ve borrowed, how much you’ll repay and when your monthly repayments are due. It’s a valuable resource for keeping on top of your debt payments.
They’ll aim to issue funds within 24 hours of your successful application whilst many are now also able to make transfers on the very same day that you apply.
To get started, register for a free, no obligation quotation with CreditRaters.com today and discover a world of lenders ready to say yes.
*UKCreditRatings offer a 14-day trial to their credit report service. If you choose not to cancel within the trial period, you will incur the monthly subscription fee of £19.95 until you cancel the account. Credit Raters is a free financial comparison website owned by Season Marketing Ltd which is a company registered in England and Wales (Company number 08901402). Season Marketing Ltd's registered office; 71 - 75 Shelton Street, London, England, WC2H 9JQ. Season Marketing Ltd is authorized and regulated by the Financial Conduct Authority and entered on is the Consumer Credit Register under reference number: 727385. Licensed by the Information Commissioners Office, (registration number ZA064129).
