My Financial Broker is a credit broker and not a lender. Warning: Late repayments can cause you serious money problems. For help, go to https://www.moneyhelper.org.uk/
First, decide how much you’d like to borrow - you can apply to borrow between £100 and £5,000 and spread the repayments over up to 60 months, depending on the type of loan you’re applying for.
Our application process is simple. We will ask you for a few personal details, your employment information, your income and expenditure and the bank account details you’d like the money to be paid into.
We’ll assess all the information you provide and connect you to a reputable and trustworthy lender. You’ll get a decision within minutes, and could have the money in your account the same day you apply.
Representative Example: On an assumed loan amount of £750 over 12 months. Rate of interest 191.2% (fixed). Total repayment amount £1726.68 and total interest is £976.68. 12 monthly payments of £143.89. My Financial Broker is a broker, not a lender*.
* As a broker, we are unable to ascertain exactly how many customers take out a loan or the lender’s rate of interest particular to that customer, therefore our calculation is based on the mean APR of our panel of lenders.
We have over 25 years of combined experience in short term lending, and our goal is to help borrowers across the UK quickly get access to cash loans at home.
We have a huge panel of loan providers. Once you've applied, we'll match you with a lender that best suits your needs.
We make finding a loan simple. Hundreds of loan applications are approved with one of our lenders every day.
Many of our lenders aim to pay out approved applications within one hour, so you could get your money today.*
Our online application should take less than five minutes to complete and will give you an instant decision on screen. We match your loan criteria and your requirements with a large number of lenders to provide the most competitive interest rate, putting you in touch with the lender most likely to accept your application.
Unlike with a lot of broker services, with My Financial Broker there are no fees for applying, and your data will be kept safely and securely on our website.
For unsecured loans, customers can borrow £100 to £5,000 which can be repaid over 3 to 60 months. This includes payday loans, personal and short term loans.
An unsecured loan will allow you to borrow money without providing collateral, such as your home or car. So if you’re unable to keep up repayments, you won’t risk losing your assets. As there is more risk for the lender, bear in mind that interest rates can be higher – it’s therefore important to compare direct lenders. My Financial Broker will do this for you, finding you the cheapest lender, depending on your circumstances.
For secured loans, customers can borrow larger amounts, and you can choose to repay over years rather than months. This includes logbook loans, debt consolidation and mortgages.
A secured loan allows you to borrow much more than with an unsecured loan, over a longer period of time. The most common example of this is a mortgage – the loan is secured against the value of your property, so lenders are happy to lend higher values. When it comes to interest, the different interest rates of secured loans can make a real difference to the total amount repayable, as the amount borrowed is significantly larger. That’s why a lot of people choose to use a broker service such as My Financial Broker, ensuring they get the best deal possible.
My Financial Broker work with numerous direct loan providers across the UK, many of which offer different types of loan. So whether you’re looking for a long term or short term loan, secured or unsecured credit, we may be able to help. You can find more information about the main types of loan our lenders offer below:
An instalment loan allows you to spread the cost of borrowing over several months or years, unlike a payday loan, which is repaid in one full payment. Generally, you would make fixed weekly or monthly payments, which would mean that the loan is easy to budget for.
Instalment loans can be either short term or long term – while many short term personal loans are paid in instalments, so are large loans like mortgages. With long term instalment loans though, the interest rates tend to fluctuate more than with short term loans.
For people only looking to borrow a small amount of money, a payday loan can be a good option. As the name suggests, with a payday loan you would typically repay the funds when you next get paid your wages. You would therefore only borrow the money for a few days or weeks at a time.
For a lot of people, payday loans are synonymous with high interest rates. And while the APR can be comparatively high when compared with other types of credit, you may not pay back that much interest overall with a payday loan. As you only pay interest for the time the loan is outstanding, if you’re borrowing the funds for a week, you’d only be repaying 7 days of interest.
Guarantor loans are often aimed at people with lower credit ratings, as they allow these individuals to borrow money at a relatively low interest rate.
As the name indicates, you’ll need a guarantor with a guarantor loan, which is someone who agrees to make the due payments should you find that you are unable to repay. Your guarantor will often need to have a good credit score, and may need to be a homeowner.
If you have a poor credit history, you may be looking into bad credit loans, which allow people who have had financial problems in the past to access credit. Many lenders specialise in loans for bad credit, taking other factors into account when making a loan decision, not just your credit score.
It’s important to note that bad credit loans can come with higher interest rates, as there is more risk for the lender. However, they do offer the opportunity to start to rebuild your credit rating, as borrowing money and then repaying early or on time can demonstrate to other lenders that you can manage your money well.
If you’ve had an unexpected expense, such as car repairs or a broken boiler, you may need to take out a personal loan to cover the costs. Even if you’ve been declined for such loans in the past, My Financial Broker could help you get the funds you need.
To be eligible to apply for a unsecured short term loan, you simply need to meet the following criteria:
With secured loans, the criteria varies from lender to lender, but is similar to the list above. You may however need to provide further documentation confirming your employment history – the loan amounts are higher so can require additional security.
Before you take out any form of credit, you should consider completing a budget calculator to see if you can afford the repayments. You may also want to ask yourself whether you actually need the item or whether you can save up over the next few months and save on any interest payable. You should not take out extra credit to pay your debts, as you may be in a debt spiral. If you are in any doubt or have any questions please contact us or consider talking to ‘www.moneyhelper.org.uk’
Customers can receive an instant decision when they apply and depending on the type of loan, may receive funds within 1 hour of approval, or the same day they apply.*
For products that require extra information like secured loans, you can receive money into your bank account within only a week of applying. Our lenders understand that you may need access to cash fast, especially when buying vehicles and property, so will aim to pay out the funds as soon as possible.
No, My Financial Broker offers soft search loans that will check your credit record but not leave any visible footprint. When you apply you can have peace of mind knowing that an application will not harm your credit score in any way, or affect your chances of being approved for other loans in the future.
You should bear in mind though that if you’re redirected to a lender’s site, they could choose to undertake a full credit check, which may impact your credit score.
A lot of people assume that you need a great credit score to apply for a loan, but this is not always the case. Many lenders also take into account things such as your employment history when making a loan decision.
Even if you have a low credit score, you could still be able to take out a loan. Bad credit loans can be an option for those who have had difficulties borrowing in the past due to their credit history. As late or missed payments can stay on your credit file for a number of years, a lot of more traditional lenders may decline your application based on a late payment made years ago. The lenders we work with understand that issues can arise outside of your control, and prefer to consider your current situation rather than your financial history.
There are several options available for those with a bad credit history, from short term loans to guarantor loans. My Financial Broker work with various lenders who may be able to provide loans for people even if they have a low credit score. You can get a decision within minutes, and many lenders aim to pay out the same day you’re approved.*
*Please note that although most lenders aim to pay out loan funds within 1 hour, or the same day the application is made, individual banks may require funds to be held for up to 3 days while the funds clear. For questions about this clearing hold, contact your bank.
Guarantor loans are often a good alternative for people with a poor credit history, as many lenders are more likely to lend if you have the added security of a guarantor. This is because your guarantor agrees to repay the funds if you are unable to do so.
If you’re looking for a guarantor loan, My Financial Broker can help. We work with a number of direct lenders that offer guarantor loans, which can allow you to borrow even with bad credit. If your guarantor has a good credit rating, is a homeowner and in full time employment, you should be able to get the best rates possible, though these criteria are not always necessary. As long as your guarantor is someone close to you that you’re happy to discuss your finances with, guarantor loans can help those with poor credit ratings access funds they need.