How to Apply for a Loan at Home
The coronavirus pandemic has considerably slowed down the economy and if you have exhausted your savings, then you may still be able to borrow a loan. If you are out of employment, sitting on your couch, and wondering how to apply for a loan at home, then you are in the right place. Money Pig offers a wide range of loan options that you can apply for, without making any in-person visits to our offices.
Most importantly, you can apply for a loan from the comfort of your home as we offer free online loan application and processing. Internet banking has made it possible for you to sit back and apply for a loan without leaving your home. However, not every lender offers you this facility and may require personal visits. This includes leading banks that refuse to grant loans involving larger amounts unless there is a personal meeting that takes place. However, Money Pig understands the need of the hour and can help you borrow money without leaving your home. In this detailed guide, we will tell you all about how to apply for a loan from home.
FAQs | How to Apply for a Loan at Home
- Can I apply for a loan from home?
- What types of loans can I apply from home?
- How to apply for a loan while at home?
- How do you process loans applied from home?
- What are the benefits of applying for a loan from home?
- Can I apply for online emergency loans while applying for a loan from home?
- Is credit check carried out when I apply for a loan from home?
- Are online loans safe?
- How do I compare offers while applying for a loan from home?
- Can I apply for a loan from home to consolidate my other debts?
- Why should I apply for a loan from Money Pig?
- Can I prepay the loan that I borrow from home?
- Can I get a personal loan instantly? What can I use it for?
- Can I get a Payday loan if I apply from home?
- What should I know while applying for a loan from home?
Yes, you can apply for a loan from home but to do so, you need to check with the desired lender. Although most banks and lenders currently let you apply for a loan from home, they usually have an upper ceiling and tend to grant only smaller sums without personal meetings. However, Money Pig has a tie-up with several direct lenders who let you apply for a loan from home. These lenders are legitimate businesses licensed by the Financial Conduct Authority (FCA). They would be willing to offer you several types of short term and long-term loans without in-person meetings. After taking into account your needs and the current lending policies of the lenders, we connect you to the one who is most likely to offer you the best deal. Since we do the initial legwork, you need not worry about the borrowing process becoming lengthy or tedious. Our aim is to expedite the process by simplifying it for you so that you can apply for loans from the comfort of your home.
Even before you start to think of how to apply for a loan at home, you need to assess your individual needs. Based on that, you must narrow down the type of loan that you wish to borrow. Money Pig offers several types of long-term and short-term credits to those with all types of employment. If you can repay a loan that you wish to borrow, then we can help you find a direct lender willing to sanction your loan. You can borrow emergency loans, payday loans, cash advance, or loans to consolidate your debts. If you are unsure about the type of loan you must borrow, then consider borrowing a personal loan. This is a type of unsecured loan that can be used for personal purposes, without any restrictions. On the other hand, if you have a bad credit history, then consider applying for our bad credit loans.
If you are wondering how to apply for a loan at home, then there is no need for you to worry. Money Pig has designed a straightforward online loan application process that you can complete within minutes. However, in order to apply for a loan while at home, you need to be a UK Citizen who has completed 18 years of age and is competent to enter into a valid loan agreement. Also, you must be living and working in the UK. Besides that, there is no other hard and fast eligibility criteria that you need to fulfill. So, if you work from home or remotely and have been wondering how to apply for a loan at home, then Money Pig can connect you to a suitable lender. With a diverse group of lenders, we can always find someone willing to advance a loan to you regardless of your employment type or credit score. Moreover, we do not charge you anything to process your loan application, so do not be reluctant to fill and submit an online loan application on Money Pig’s website.
Money Pig follows a well-designed strategic online loan approval process, which involves a 4-step process. Step one involves the receipt of your online loan application. This is when we commence the loan application evaluation process. Step two involves initial screening of the loan application and in this stage, one of our Experts would look up for the best lenders who would be willing to advance you a loan. Unlike banks, our Experts have access to several direct lenders and are fully aware of their individual requirements.
In the third step, we run a quick soft credit check to confirm your capability to repay the loan and thereafter connect you to the most suitable lender. Our Experts do their best to get you the most profitable deal. Once we are done with that, we move on to the fourth and final step of connecting you with the direct lender. After that, we are out of the picture, and it is between you and the particular direct lender. We urge applicants to clarify all the commercial clauses with the direct lender before entering into a loan agreement.
The key benefits of applying for a loan from home is convenience and quick access to cash. When you apply for a loan from home, you do not need to make in-person visits which can be time consuming and inconvenient. Also, since Money Pig’s direct lenders transfer the funds directly into your UK bank account, there is little that you need to worry about. Another key benefit of applying for a loan from home is the ability to sit back and compare offers from various lenders. This is not possible when you apply to a bank or an individual direct lender because your options are limited. So, if you have been pondering about how to apply for a loan at home, then do not forget to submit your loan application to Money Pig. We can pull out the best offers for you, which allows you to choose the best deal on whichever type of loan you wish to borrow.
Money Pig understands how it feels to have a pressing need for money and very little time to apply for it. So, when you are dealing with an emergency situation, we do not expect you to walk into our offices or meet our direct lenders to get a loan. Instead, we keep our emergency loan application and processing completely online, and without any in-person meetings. So, if you are dealing with exigency and wondering how to apply for a loan at home, then consider applying with Money Pig.
We offer exceptionally fast loan processing to those who are dealing with emergency situations through emergency loans such as same-day loans and fast cash. In fact, some of our lenders may also sanction same-day loans on weekends and public holidays. So, if you are dealing with an emergency, then simply mention that in your loan application and submit it to Money Pig. Our Experts would then process the application on a priority basis.
Yes, all loans in the UK are sanctioned by the lender, only after running a credit check. This is a mandatory requirement laid down by the FCA in order to prevent fraud and disputes. So, yes, we do run a soft credit check on you, which does not show up in your credit history. Based on this, we connect you with the lender who is most likely to approve your loan, which minimizes the possibilities of loan rejection. Not many people are aware of the fact that loan rejections can have an adverse impact on your credit history.
So, if you apply with five banks or individual direct lenders, then each of them would run a hard credit check on you. This means, the credit agency would record five hard credit checks and you hardly know about your chances of getting a loan sanctioned by any of them. On the other hand, when you apply with an intermediary such as Money Pig, we run only one soft credit check and put you through the direct lender who is most likely to approve your loan.
Thereafter, it is between you and the direct lender to negotiate the terms and conditions of the loan agreement. So, in this case, the concerned direct lender runs a hard credit check just before releasing funds. This has a two-way benefit in store for you. Firstly, the chances of loan rejection are minimized and secondly, there won’t be multiple hard credit checks showing up in your credit history. This means you can explore loan options with multiple direct lenders without having multiple hard credit searches performed on you. So, although Money Pig does carry out credit checks, we design our internal protocols to be as Applicant-friendly as possible.
In the light of the rapid increase in cybercrime, your concerns pertaining to online transactions are completely valid. To protect your best interests, Money Pig makes use of encryption for the security of in-transit data and secure servers for storage. Also, we recommend the same to all the direct lenders within our network. On your part, make it a point to make use of a private internet connection because public WiFis such as the WiFi at Airports, restaurants, offices, etc… can be monitored. Therefore, these are not secure and must be avoided while submitting financial or personal information on the internet. Also, consider having an updated Operating System, Antivirus, and Firewall on your computer or mobile device before accessing financial websites.
Even before you start thinking of how to apply for a loan at home, you need to be clear about three things — the amount you wish to borrow, borrowing period, and the maximum APR you are willing to pay. These three factors form the basis on which you would then compare loans while applying from home.
To make a fair comparison, you need to ask the lenders about what is included in the APR, which usually includes the cost of borrowing such as interest on loan and set-up costs. So, ask for a clear breakdown of what the APRs include and then compare the loans. Also, check for clauses such as delayed payment and non-repayment clauses, just to be prepared for the worst.
You can make this comparison by applying to multiple banks and direct lenders individually and seeking quotes, or by putting in a single loan application with Money Pig. At Money Pig, we believe in simplifying the process by providing you multiple free no-obligation quotes which you can sit back and compare. This makes it a whole lot easier to apply for a loan at home.
If you have multiple debts and are wondering about how to apply for a loan at home to consolidate all of them, then here’s what you need to do. You need to classify those loans based on whether they are secured or unsecured loans. Once you have done that, you must know that it is easier to consolidate unsecured loans. However, you need to check with your existing lenders and also look for the prepayment clause. Check if you would have to pay a penalty for repaying the loan early and try to negotiate the same with the lender. After that, you would know exactly how much you wish to borrow and that’s when you must put in your application for a loan to consolidate debts with Money Pig.
Money Pig is a reliable financial intermediary that works with only the best and most trusted direct lenders in the UK. All the lenders within our network are licensed and regulated by the FCA, so you can be sure that you are not dealing with scammers. In the UK, there is a huge market for illegal lending which is run by loan sharks who make use of illegitimate lending and debt collection practices. So, when you apply with Money Pig, you will not be dealing with such illegitimate lenders who trap you financially.
Also, when you apply for a loan from Money Pig, you are not at the receiving end and have multiple options to choose from. That too without the need to apply to multiple banks or lenders, which eliminates the possibility of a negative impact on your credit history due to multiple hard credit checks. Moreover, if you are wondering how to apply for a loan at home, then know that Money Pig offers online loan processing. The funds are transferred directly into your UK bank account.
Money Pig partners up with several direct lenders and due to the increasing demand for loans we are constantly expanding our network. While we do keep track of the minimum requirements of each lender with regards to eligibility, we cannot say for sure about their commercial clauses. That’s because lenders adapt the commercial clauses based on individual loan agreements. Therefore, it wouldn’t be appropriate for us to conclude about the prepayment clause.
So, make it a point to discuss the prepayment clause with the concerned direct lender before entering into the loan agreement. We say this because it is a common practice for direct lenders to charge a penalty for early payment of loans. This is imposed to make good the APR which is lost for the remaining loan duration and is often negotiable. So, if you are currently unemployed but are hoping to see better days soon, then you must negotiate a zero-penalty prepayment with no other charges. This allows you the flexibility to repay the loan amount as soon as you have a steady income source.
Yes, Money Pig offers personal loans that can be sanctioned within hours of receiving your loan application. Personal loans are unsecured loans that may be used for various purposes. Most lenders allow you to use the funds granted as personal loan without any restriction. However, there are some lenders that may impose restrictions so make sure to clarify that. If you are specifically looking for a personal loan with no restrictions on the fund usage, then make a mention of that in your loan application.
During the coronavirus lockdown, those who continue to work are either essential workers or remote workers. Either way, you may not want to leave you home while applying for a payday loan which is understandable. So, if you are worried about how to apply for a loan from home, then we make that quite simple for you. Fill and submit Money Pig’s online loan application for payday loan and we’ll get back to you shortly. However, we only offer payday loans to UK citizens who are currently working in the UK and hold a UK bank account.
When you apply for a loan from home, you are likely to come across loan sharks and other scammers trying to lure you into presumably profitable deals. So, you need to watch out who you are transacting with and that can be done by looking up for the lender on FCA’s online register. As a borrower, you must be aware of the fact that the lender is out there to do business and earn profits by lending. These profits are the cost of borrowing that the lender collects from you as APRs, which includes interest rates, set-up fees, processing fees, and other costs. So, when someone claims to offer you an interest-free loan then that could be a financial trap. Therefore, make it a point to closely evaluate lucrative loan offers and make a prudent decision.
Money Pig offers you the most profitable loan offers from reliable direct lenders in the UK. So, stop sitting on your couch and thinking about how to apply for a loan at home. Instead, hop onto our website and Apply Now.