Unsecured Loans from Direct Lenders
Whatever your reason for considering an unsecured loan – repairing a car, fixing kitchen appliances or paying off unexpected bills – you can borrow from £50 to £1,500, quickly and easily, with PM Loans. Unsecured loans from direct lenders allow you to borrow money without offering up security based on a major asset, such as your home.
What is the difference between Secured and Unsecured Loans?
What is the difference between an unsecured and secured loan? In contrast to a secured loan, if you take out a personal loan the lender will have no claim on your financial assets if you don’t keep up repayments.
What are the benefits?
- Unsecured loans are usually more widely available than secured ones
- The lender does not typically require security in the form of assets such as your home
- Often unsecured personal loans allow flexibility with loan amounts and repayment terms
- The interest rate (APR) will usually be fixed, so you’ll know exactly what your payments will be every month
Is PM Loans a Direct Lender or a Broker?
At PM Loans, we differentiate ourselves from the other lenders in the market today by being both a direct lender as well as a loan broker. This means that our customers have access to a wide and varied range of different lenders and products, they can, therefore, source the perfect loan product to suit their needs and their situation.
As an FCA Authorised direct lender, our short term loans are designed to be provided rapidly upon approval and can clear debts quickly with regular repayments. We ensure we lend responsibly from start to finish. To avoid disappointment, take a look at our minimum lending requirements before beginning your online loan application:
- You must be 18 years of age or older
- Live in the UK full-time
- Must be in employment or have a stable source of income
- Hold a UK bank account and an active debit card
- Have an email address and a mobile phone number
How can I get approved for Unsecured Loans from Direct Lenders?
Getting approved for unsecured loans from direct lenders can be done swiftly. Once the application is approved, the money is transferred to the individuals account usually within hours. This is assuming the bank can accept the credit transfer the same day. This means you’ll have the money available for spending almost right away.
The online loan application process is, in a way, safer for many borrowers. The credit documentation is there for borrowers to inspect, and there is no lender sitting across a desk pushing for a fast signature.