A financial emergency is an unexpected expense that comes your way even when you don’t have any extra money or future funds. You may get into an accident and now your car needs immediate repair or you may have to travel or have to deal with funeral expenses.
Whatever the reason is, you need an instant solution to avoid a bad financial day. It is recommended to borrow money from a legal platform instead of borrowing money from relatives or friends or selling your valuable possessions.
Borrowing emergency money is no longer a difficult task even you will find all the guidelines here. We have provided you with an easy and fast way to borrow money in your financial crisis.
Different Options You Should Know About Borrowing Money In The Uk
There are different options available for people who want to borrow money in the UK. You need to choose the one according to the length of repayment and your credit score.
- Credit Cards- If you have a good credit score then you may go to borrow money from your credit card. It is a good option if you need to borrow just a few hundred pounds.
- Payday Loans- You can take a payday loan if you want to borrow money until your next payday comes.
- Bad Credit Loans-These types of loans are for those who have a low credit score. When you apply for these loans your current financial situation is considered over the credit history.
- Same Day Loan- This is one of the best emergency fund solutions as you will get these types of loans on the same day you applied for them.
- Quick Loans- Quick loans are also an alternative to emergency funds where you will get the amount within a few minutes. You can get these loans with a good fund-providing service like WeLoans faster than same-day and payday loans.
Different Ways To Borrow Money In The Uk In 2023
Borrow From A Bank Or Government
One of the legal ways to borrow money in the UK is by taking loans from a bank or the UK government. This type of option is good if you need to borrow money for your business. Additionally, there are chances that you will get a favourable interest rate.
- You may need a collateral
- Time-consuming process
- You may not qualify for the loan
Borrow Emergency Money Online
Now you have online working platforms that have eliminated the need to step into banks or any financial institution. Additionally, you don’t need to go through long paperwork. All you need to do is fill out an online application form.
Here you can borrow money from a direct lender but you may get into a scam if you don’t find a trustworthy lender. Additionally, some lenders do not offer emergency loans for people who have a bad credit history.
Instead of borrowing money from a direct lender, it is better to work with a credit broker. An efficient UK based credit broker like WeLoans does not only let you get emergency money but also offers a simple and easy way.
WeLoans does not lend you money but it acts as a bridge between you and lenders and gives you access to trusted lenders. Here you can also apply even with bad credit.
Why Choose WeLoans To Borrow Emergency Money?
- Fast Decision And Approval- after submitting your online application form you will get the decision and quote immediately.
- Borrow Money Up To £5000- Here you can borrow a few hundred pounds to £5000 easily depending upon the financial emergency.
- Confidentiality- it offers you bank-level confidentiality and lets you access reputed lenders in the UK.
- 24/7 Available Customer Support – you have 24/7 available customer service so if you are stuck at any point or need to ask a question you will be guided immediately.
- Bad Credit Friendly- you can apply for an emergency loan even if you have a bad credit history, it will not do a hard check on your credit score.
How To Borrow Emergency Money With WeLoans?
WeLoans is a user-friedly platform that let you borrow emergency money by just following three simple steps as described below:
Step 1. Go to the official website of WeLoans and fill out the online application form. Choose the amount, and repayment period and provide some basic information.
Step 2. Soon after applying, you will receive quotes from trusted lenders.
Step 3. If you agree to the terms and conditions of the loan then after approval you will get the money as soon as possible in your bank account.
The given article provides information on how you can deal with a financial emergency. You have different available options in the UK from where you can borrow money but not all are reliable and fast. WeLoans is the UK-based online broker that lets you borrow emergency money fast and easily.
Hello, My name is Shari & I am a writer for the ‘Outlook AppIns’ blog. I’m a CSIT graduate & I’ve been working in the IT industry for 3 years.