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Why Choose Us
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 Work With Over 100 Direct Lenders
We have a panel of over 100 of the leading lenders in the UK. Once you've applied, we'll match you with a lender that best suits your needs.
Applications Accepted Every Day
We make finding a loan simple. Thousands of loan applications are approved with one of our lenders every day.
Get Your Money on the Same Day
Many of our lenders aim to pay out approved applications within one hour, so you could get your money today.*
How It Works
Choose Your Amount
First, decide how much you’d like to borrow - you can apply to borrow between £100 and £2,000 and spread the repayments over up to 24 months, depending on the type of loan you’re applying for.
Complete Application
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.
Receive Your Money
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.
How Can I Get a Loan with My Financial Broker?
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 over 100 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.
How Much Can I Borrow with My Financial Broker?
For unsecured loans, customers can borrow £100 to £2,000 which can be repaid over 3 to 24 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 though, 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.
What Types of Loan Can I Borrow?
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:
Instalment Loans
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.
Payday 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 open, if you’re borrowing the funds for a week, you’d only be repaying 7 days of interest.
Guarantor Loans
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 the borrower find they are unable to repay. Your guarantor will often need to have a good credit score, and may need to be a homeowner.
Bad Credit Loans
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.
Am I Eligible?
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:
- Be aged 18 or over
- Work in full time or part time employment
- Live in the UK and have a UK bank account
- Have a mobile phone and active email account
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.
How Soon Can I Receive My Funds?
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.
Will Applying Affect My Credit Score?
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.
What if I Have Bad Credit?
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.*
Can I Apply For a Guarantor Loan with My Financial Broker?
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.
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