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Applying For An Online Loan - How Does Money Pig Work?

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Are you in need of extra cash? During times like this, loans provide the best solution so you can get access to the money you need when you need it. But if you’ve tried getting a loan before, you know that it is not as simple as it sounds. Each lender or credit institution has its own set of requirements and eligibility criteria that you must meet before you can borrow the desired amount. The advent of online loans has changed the landscape of the industry, however. It is now easier to find competitive loan rates even for individuals with less than stellar credit rating. And this is where Money Pig comes in. We are an online loan broker in the UK and it is our commitment to make it easier for borrowers to find legitimate UK lenders for a hassle-free loan experience.

Money Pig is a secure and reliable loan introducer that is based in the UK. It is our aim to help borrowers to simplify the process of searching for qualified lenders in the UK. We do not directly provide loan or consumer credit products. Instead, we provide a medium with which borrowers and lenders meet.

Borrowers are often puzzled with the options available in the market, especially since online loan products are widely available these days. Being able to discern the legitimate lenders from the fake ones is more difficult than ever before. There are plenty of scams out there that have done an excellent job of masking their true identity and pretending to be like the legitimate ones. For borrowers, it is often too late when they realise that they have been a victim of a scam. As a result, they have wasted their time and effort, and sometimes their money, too.

At Money Pig, you don’t have to worry about doing your research to find the best lenders to borrow money from. We connect you with a panel of lenders that specialise in all kinds of borrowers – from those with good credit or bad credit. We use our expertise in the field and the knowledge of the available lenders in the market to match your needs. By finding your ideal match, you can increase your chances of approval so you can get the money that you need in the soonest possible time.

The Money Pig Process

At Money Pig, we follow a defined flow of process that enables us to provide assistance to borrowers seeking out online loans. So, how does Money Pig work? Find out below to know the step-by-step process:

Step 1: Apply online.

The first step involves you filling out an online application form with your information. This is a secure and confidential form so you can guarantee that any information shared with us will not be used outside of the purpose of loan evaluation.

Step 2: Get a great rate.

We will then select from our panel of qualified lenders that we can possibly match your loan application to. Our panel of lenders will then assess your application and come up with rates that would apply based on your personal and financial information. If you are approved, the lender will provide you with a rate for your online loan. It is up to you to accept (or reject) the offer.

Step 3: Receive approval.

Our panel of lenders process hundreds of loan applications on a daily basis. We have developed a system that will streamline the evaluation process so you can ensure that you can get feedback in a timely manner.

Step 4: Get your cash.

If you accept the rate offered by the lender and you signed the loan agreement, you can get the cash in as fast as a few minutes to hours. If you have provided your bank account, the money will be deposited to your account at your convenience.

Step 5: Get flexible repayments.

You can get a flexible repayment term from your chosen lender based on what you can afford to pay per month. And even if you do not accept the offer from our partner lenders, the loan quotations are 100% no obligation.

Other Things You Need to Know

Whether you are looking for short term loans, payday loans, or personal loans, Money Pig can help you. We provide a variety of loan options for individuals who are in need of cash for whatever purpose. Since we have an extensive panel of lenders available, we can make it easy for you to find the loan you need (and the lender that can provide them).

With our tagline “making borrowing easy”, we have provided all the measures needed to simplify and speed up your loan application process. With more than 50 approved lenders in our panel, you can guarantee that there is a right lender for you!

In terms of the amount you can borrow, it varies from one borrower to another. Lenders will evaluate your creditworthiness and your financial information to determine how much money you can borrow. To give you an idea, you can borrow as little as £100 to £25,000. There are no fees from us so you can get the money that you’re approved of from your lender!

In terms of the repayment period, our lenders can be flexible, too. It will depend on the amount you borrow and the type of loan that you applied for. This will be discussed with your lender in the loan agreement but you can expect the repayment terms to start with 3 months up to 120 months.

In addition to having a flexible repayment term, there is also a flexible repayment structure in the form of monthly installations. This makes it easy and affordable for our borrowers to afford repayments for their loans, no matter how big or small. You can expect repayment to begin immediately a month after you receive your loan amount.

Another common question that people ask when it comes to the services offered by Money Pig is in terms of qualifying with a bad credit. Rest assured, we can provide you with legitimate lenders who can offer loans for people with bad credit. It is up to our lenders to evaluate your application and see if you are qualified for a loan. Since we have an extensive panel of lenders, we can point you towards ones that specialise for this kind of loan service.

All credit checks that are performed by our partner lenders are known as soft credit check only. You do not have to worry about leaving a credit footprint because it will not hurt your credit score. This is only done in order to provide you with a quotation and for lenders to determine how much they can offer you via loan.

If you use our website and any services we provide, it is completely free. Hence, there is no need to worry if you use our services because you won’t be charged for it (we might, however, receive commission from the companies that we introduce you to).

If you are struggling financially or are constantly making late payments, we recommend you seek professional advice. For help, go to http://www.moneyadviceservice.org.uk/.

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Frequently Asked Questions on Online Loans

Would you like to know how Money Pig can help you when you’re in need of extra cash? This is a list of the most common questions that people ask when it comes to obtaining online loans and the use of Money Pig.

  1. How do loan brokers work?
  2. What are online loans?
  3. Do brokers lend money?
  4. Should I go with a loan broker or a bank?
  5. Are online loan brokers worth it?
  6. What is the difference between a broker and a lender?
  7. How do I choose an online loan broker?
  8. Do I need an online loan broker?
  9. Why should you choose an online loan broker?
  10. How to find a good loan broker?
  11. What types of loans are available?
  12. How does Money Pig work?
  13. Can Money Pig help you get approved for a loan faster?
  14. Can Money Pig help people with bad credit?
  15. How does Money Pig choose its panel of lenders?
  16. How soon can Money Pig process loan applications?
  17. Why choose Money Pig as an online loan broker?

How do loan brokers work?

An online loan broker is an entity that specialises in matching loan borrowers with appropriate lenders. Money Pig is a type of loan broker service since we do not directly provide loan or consumer credit products to borrowers. Instead, our job is to match you to any of the panel of lenders that we are partnered with based on your eligibility criteria and your unique needs.

Unlike traditional brokerage services, though, we do not make money by marking up the fees on your loans. Instead, we get a commission from the lenders who we introduce you to. You can use our online loan broker service without any additional fees or charges.

What are online loans?

An online loan is, simply put, any money that you borrow from an online lender. The specific processes involved in obtaining an online loan might vary from one lender to another, the overall process is basically the same as with traditional methods of applying for a loan.

Another major difference with online loans (versus traditional loans) is the convenience with which you can process your application. Since the application can be processed online, you can expect faster approval or response to the application. In some cases, lenders can approve your loan application within hours and also get the money you wish to borrow on the same day.

Do brokers lend money?

No. Brokers do not provide money via loan to borrowers. Instead, brokers only refer interested borrowers to a panel of lenders with whom they can get the loan from. Brokers are primarily there to streamline the loan application to increase your chances of getting approved for a loan.

Should I go with a loan broker or a bank?

If you are planning to borrow money via a loan, it is recommended that you work with a loan broker. In the case of Money Pig, you won’t incur any extra charges or fees for using our service. Our only goal is to help facilitate your loan application with the right lender so you can get the money you need. By using our service, you can get matched with the right lender and save time in the process.

Choosing to get a loan from banks would be challenging, unless you have a perfect or high credit score. Banks are usually unforgiving when it comes to working with people with low credit. If you don’t have a good credit standing, your best bet is to work with a loan broker instead.

Are online loan brokers worth it?

If you have a less than stellar credit rating, then yes – working with a loan broker is definitely worth it. As mentioned above, banks and other traditional lenders evaluate creditworthiness as the main eligibility criteria when lending money. If you do not meet the eligibility criteria, then an online loan broker can help you find a lender that would be willing to provide the amount you need, even when your credit score fails to meet the minimum requirement.

What is the difference between a broker and a lender?

There is a significant difference between a broker and a lender. The lender will be the one to conduct assessment of the borrower’s application. Based on the result of their assessment, they can decide if qualify for a loan. And if you do qualify, the loan will be sent directly to the borrower on the agreed medium.

On the other hand, a broker does not provide the loan amount directly to borrowers. Instead, they are responsible for searching and matching lenders from a restricted panel in order to provide possible loan options for the borrower. The broker will be using provided information and the borrower’s unique circumstances as a way to determine which lender would be the best match.

How do I choose an online loan broker?

Choosing an online loan broker is something that you need to take a lot of time and consideration into. When you find the right one, it gives you the ability to connect with the right lender that meets your needs.

The first thing you need to consider when choosing an online loan broker is the experience and credentials. Find out how long the broker has been operating as a business. It is also important to know their credentials such as who is involved with the company and which lenders they are partnered with.

Another factor to look into is the type of services offer. What kind of assistance can they provide interested borrowers? How do they streamline the process to make your loan application easier and more efficient? Take time to study how the company works to help you decide if they are the right broker to work with.

Finally, check if they charge you with any service fees. If they do, find out how much they charge and when. Some charge only after your loan application is successful while others charge you whether or not you got the loan.

Do I need an online loan broker?

It depends on your individual situation. If you have a low credit score or you do not have income, you can leverage an online loan broker’s service to help you find a lender that would be willing to accept your loan application. Otherwise, it will take a lot of time and effort on your end to find a lender that would (and even then you are not guaranteed that they will accept your application).

It is up to you to assess if you are having any difficulties getting the loan you want. If you are, then you might want to enlist the help of a broker.

Why should you choose an online loan broker?

You can choose to work with an online loan broker, like Money Pig, if you want to simplify your search for a lender. There are many fake lenders and scams out there that operate online waiting to prey on desperate individuals who need money. This is true with people who fail to meet the eligibility criteria set by most UK lenders. As a result, they go for the first ones that would be willing to give them the money they need. Unfortunately, this is not the best approach as you could end up losing money instead.

When you work with an online loan broker, you can rest assured that you are working with a professional team that are connected to a panel of legitimate lenders. You can save time and effort from not having to do any research on the best lenders in the UK because they can do that for you. It streamlines the process of your loan application for faster approval.

How to find a good loan broker?

There are plenty of ways to find a good loan broker. One of them is via referral from friends or family. If you know anyone who has used their services, you can seek their recommendation. You can also do an online search to check out reviews from individuals who might have used the services of an online loan broker. Make sure that the reviews and information you find on the internet are valid and true so you can make an honest assessment.

What types of loans are available?

When you choose Money Pig as an online loan broker, you can find lenders that offer a variety of loan and consumer credit products. Among the types of loans that you can apply for include short term loans, personal loans, payday loans, cash advance loans, easy loans, emergency loans, same day loans, and bad credit loans, among others. With so many options, you are guaranteed to find the right product to meet your needs.

How does Money Pig work?

Money Pig is an online loan broker service that facilitates the borrowing process for individual consumers. This is made possible by connecting borrowers to a panel of lenders in the UK that can provide a wide range of loan types. Whatever it is the borrower needs, there is a lender that can match that. By providing the right match, it helps borrowers get faster approval.

Can Money Pig help you get approved for a loan faster?

Yes. Money Pig has developed a system that is designed to streamline traditional loan application processes. With a panel of lenders on hand, they are able to direct borrowers to the right lenders that will provide the loan you need. In some cases, you can get feedback on your loan application within hours or a few days.

Can Money Pig help people with bad credit?

Yes. There are many lenders that Money Pig is partnered with that can work with people with bad credit. All you have to do is submit your information and we will evaluate your information to assess our panel of lenders.

How does Money Pig choose its panel of lenders?

Money Pig is partnered with a group of lenders in the UK that are legitimate and registered to provide loan and consumer credit products. Thus, you can rest assured that all lenders that Money Pig has in its panel are legitimate.

How soon can Money Pig process loan applications?

It depends on the availability of information and the volume of loan applications. In general, borrowers with good credit standing and have provided the complete list of documents required upon application can get the result within hours or a few days. Make sure you check the lender’s eligibility criteria and the list of required documents before you submit as it helps to speed up the loan processing.

Why choose Money Pig as an online loan broker?

Money Pig is an online loan broker that has committed to making loan products more accessible to more people. By partnering with a panel of over 50 lenders, you will be able to find a lender that matches your specific needs and requirements. In fact, Money Pig can help individuals with no income or low credit.

When you use Money Pig, you no longer have to do the legwork as we’ve done that for you. All you have to worry about is complying with the requirements stipulated by each lender.

 

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