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From £1,000 to £25,000
Rates from 5.7% to 278%
3-36 month repayment
Borrow up to £3,000
Rates from 278% to 1576%
3-12 month repayment
Representative Example: Cash price £7,500. Deposit £0.00. Total amount of credit £7,500.00.
60 monthly repayments of £137.22 Total charge for credit £733.20. Total amount payable £8,233.20. Interest rate 3.8% fixed. 3.8%APR Representative.
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Getting A 500 Loan Online
A loan for 500 can be a quick and convenient means to cover an urgent expense, like a medical bill or car repair. While numerous lenders in the UK offer unsecured personal loans for large amounts, you will find plenty of options from a number of online lenders who will satisfy the kind of financing that you are looking for. Here is a quick view of the features of 500 loans in the UK and some of the things that you need to bear in mind when you take them out online.
Features of 500 Loans in the UK
Unlike auto loans, home loans, and other secured forms of credit, you can find unsecured loans online that won’t require you to put up a collateral to secure your loan deal. But because it is unsecured, it means that the interest rate you will enjoy will largely be based on your creditworthiness. If you have poor credit or a credit history that is non-existent, you can still get approved for a 500 pound loan from a number of specialist lenders but you will most likely incur higher interest rates than someone with good credit.
A 500 loan & loan 500 & loan for 500 & loan of 500 needs to meet a specific set of essential requirements which are worth considering when your shopping for a loan. If you want to take out a 500 loan that is affordable, here are some features that you might want to look into:
- A maximum APR (Annual Percentage Rate) that does not exceed the threshold allowed by the Financial Conduct Authority or FCA
- Have a term that is 3 months or longer or something that is perfectly suitable for your needs and financial circumstances
- Fixed monthly repayment amounts, not balloon payments
It’s also crucial that you take out a loan only from a reputable lender who is licensed by the FCA. While the loan industry in the UK is in many ways safe and fair, there are loan sharks or illegal lenders who have unfortunately made their way into the market. It’s best to avoid these lenders if you don’t want to obtain a loan that is deceptive and exploitative.
500 Loans from online lenders
There are plenty of lenders in the UK who cater borrowers looking for a loan of 500. The process of taking them out is also quick and convenient and you can have the money that you availed for in the same day once your application is approved. Normally, the interest rate you will incur in your loan deal will be based on traditional factors such as your credit score, credit history and income, but some lenders will also consider other factors, such as your line of work and education level. Majority of lenders will allow you to check out their rates without affecting your credit which means you can shop around as much as you want.
What if I can’t keep up my repayments?
If you can’t keep up with your repayments you must contact your moneylender immediately and advise your struggling with the monthly installments some companies will adjust your monthly installments to reflect what you can afford to pay back on a monthly basis please note that this can also extend your term of the agreement and probably the amount of interest that you end up paying back. You’re never advised to just stop paying your agreement as this may result in interest being charged on the agreement and missed payments showing on your file this could make obtaining further down the line a lot more difficult.
What do i do next?
Next is the fun bit you need to click on the apply button and fill out our simple online form designed to make sure the whole application as smooth and pain free as possible. The whole application process from start to finished shouldnt take you longer that 3 minutes its as simple as you can get.
*Subject to lender approval and requirements.