Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Representative Example: On an assumed loan amount of £750 over 12 months. Rate of interest 292% (fixed). Total repayment amount £1351.20 and total interest is £601.20. 12 monthly payment of £112.60.** We do not know how many customers take out a loan or the APR, this calculation is based on the mean APR of the lenders we work with
Many UK brokers are partnered with a wide range of UK lenders who can help you borrow money. For people looking for larger loans, of around £10,000, which can be repaid in flexible monthly instalments, borrowing through a broker can be a great option. Brokers will generally present you with a diverse choice of lenders offering a host of loan products for both good and bad credit scores. Funds can be available in just a few hours or days of approval.
With so many different lenders to choose from, and an overwhelming amount of loan products too, it’s understandable that this can be stressful for a customer. So how do you know what loan to choose, and from which lender?
This is where brokers can come to the rescue: by filling out an online application form, a broker can find the best deal for you. When it comes to borrowing a £10,000 loan, a broker service can save you a lot of time and hard work. Even better, most online application forms take less than 5 minutes to complete and provide an instant decision on the screen.
If you are looking to borrow £10,000, it can be a life changing amount, whether you are looking to buy a new car, start a business, do a little home improvement or consolidate your debts.
With a £10,000 loan, you should be given options so you can choose how long you wish to borrow for, such as over a few years. This will provide you with flexibility to spread your repayments. You also always have the option to repay early if you need to, saving money on interest in the process.
In terms of the loans you can apply for via direct lenders online, this includes:
There are a number of benefits to using a broker if you decide to borrow money. Perhaps the main advantage is that a broker will do all the hard work for you, comparing lenders and doing their best to find you a suitable loan provider. We’ve listed a few other benefits below:
When you apply through a broker service, generally there is no need to worry about a long-winded, complicated process, involving lots of phone calls and paperwork! Most brokers offer an online service, and once the application form is completed you could receive an instant decision onscreen. This is far more time and cost-effective than applying for loans of up to £10,000 in person.
Most brokers ensure that they only work with lenders in the UK who are reputable and trustworthy - lenders who are authorised by the Financial Conduct Authority (FCA). This also ensures that lenders are adhering to FCA regulations regarding borrowing, interest rates and treating customers fairly.
A lot of brokers, when it comes to short term loans, do not charge customers for using their service. You will need to discuss fees and charges with your broker, to check whether any fees are applicable.
Customers have the ability to adjust the amount they wish to borrow and how long they wish to repay for – and there is always the option to repay early and save money when you do.
The majority of lenders understand that time can often be of the essence if you are looking to apply for a loan. That's why they make sure that if your application is successful, you will receive funds within a few days of approval. For smaller amounts, the money can be deposited in your bank account in as little as an hour!
Before applying with any broker service, you should ensure you meet the relevant eligibility criteria for a loan. Whilst this criteria can vary from lender to lender, as well as the type of loan you are applying for, generally they include:
Some products may require a guarantor, or you can choose a loan without a guarantor (unsecured, personal or debt consolidation). This will be made clear to you when you apply.
Applying to borrow £10,000 through a broker is a simple process, and with an online application, it should take no more than a few minutes to get an initial quote. Most online application forms ask you to fill in details such as your loan amount, current employment, salary, expenditures and contact details.
Brokers aim to give an instant decision on the screen. If you then proceed with the lender of choice, subject to further checks, you can usually receive funds to your bank account within a matter of days.Apply Now