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Top 5 Online Lenders to Borrow Money from in the UK

Online lending offers consumers a convenient way of borrowing money. Usually, online loans feature a quick approval time and lenders tend to approve borrowers with different credit scores. Some lenders offer both small and large loan amounts, depending on a borrower’s needs and eligibility. If you need money urgently, these lenders may be your best bet.

No matter which loan type you are searching for, you can get it from these online lenders. Therefore, individuals can compare the interest rates and payment terms for different lenders and choose one that they are comfortable with.

Whether you want to finance a large purchase or consolidate your debt, these are the five best online lenders to borrow money online in the UK.

#1. Cash Flex

Cash Flex is a private limited company located in the Chester area. Formed in 2013, the company has been helping borrowers get access to the loan they want. You can secure different loans with this company, including;

• Quick loan/same day- Cash Flex works with different lenders to ensure that you get your loan quickly and even within the same day if possible. Plus, if you can’t get a loan with them, the company may refer you to other service providers.

• Short-term loans- if you need to fund a cash deficit, you may consider getting a short-term loan. Cash Flex offers these loans with varying payment periods, depending on the loan type.

• Loan amounts- Cash Flex allows individuals to borrow between £100 to £5000. And they usually offer a payment term of between 3-36 months.

You can get a Cash Flex loan if you are a UK resident, over 18 years of age, have a monthly income of not less than £70, and have a UK bank account linked with your debit card.

The company has an easy and quick application process that takes less than 5 minutes. Once you’ve filled and submitted the application form online, you will get an immediate response.

#2. Cash Lady

Cash Lady is the best site for those looking for a short-term loan online. The company has been operating since 2013. They connect individuals to reliable and reputable lenders that offer the best rates no matter their credit score.

The types of loans you can get on this platform include;

• Bad credit loans- if bad credit has hindered you from getting your loan approved before, Cash Lady can get you the help you need. They offer bad credits loans to those who need funding with bad credit.

• Same-day loans- you can borrow as little as £80 or as much as £1000. Their same-day loans have a 1272% APR.

Cash Lady promises to keep customers’ information safe and secure. Your details will not be given to any third party. Plus, their application process is pretty simple and you get quotations from several lenders.

#3. Little Loans

Little Loans is a fully regulated and authorized unsecured loan broker that helps individuals get the right lender for their needs. It was founded in 2013 as part of the Digitonomy Group. The company is known for offering accurate and transparent financial products. As such, it is rated among the most outstanding credit brokers in the UK.

Some of the loan products you can get on this platform include;

• Bad credit loans

• Short term loans

• Personal loans

• Long term loans

• Instant loans

• Same day loans

• Debt consolidation loans

The site offers a quick approval time. You can get money in your account in as little as ten minutes. Plus, it has several packages hence individuals can choose what suits them. Additionally, they offer educational materials on their website to help applicants know the loans suit them best.

Little Loans offers their loans to UK residents who are over 18 years. A borrower should also have a bank account with a debit card, a regular income and employment, and have their salary paid into that bank account.

#4. Clever Loans

If you value experience, Clever Loans might be the right company for you. They are one of the oldest credit brokers in the UK. Clever Loans can help those in need of small loans between £5000.

They use modern tools and technology to match you with the right broker who makes a quick decision. As such, those who want fast access to money will find this platform incredible.

All their lenders are FCA regulated, and they offer clear and transparent terms and conditions in their loans. Once you fill their online form, Clever Loans will start searching for the right lender for your needs. The company claims to offer users a 15-minute loan on their website, which is pretty quick.

If you don’t find a loan on this site, they will connect you to another service provider. Some of the loan products they offer include;

• Short term loans

• Same day loans

• Personal loans

• Payday loans alternative

• Bad credit loans

#5. Omacl

Omacl is the best platform for short-term financing. Like the above credit brokers, it matches borrowers with loan offerings from various reputable UK lenders.

Regardless of your credit rating, the site can help you find a loan with the best interest rate and repayment terms. They use their software to match an applicant with a borrower in less than two minutes.

Omacl is regulated by the Financial Conduct Authority, meaning it’s a trustworthy brokerage service. Some services offered by this company include;

• Cash loans

• Emergency loans

• Instant loans

• Bad credit loans

To get approved for a loan, one must be 18 years and above, a permanent UK resident, have a valid phone number and an email address. Also, you’ll need to have and maintain a bank account where the money will be sent. And you must have regular employment and income.

Conclusion

The best thing about using online lenders is that you can compare different lenders to get the best deal. So, don’t be in a rush to settle for one without knowing what they have to offer first.