FAQ

We want to make getting a cash loan a straightforward, easy-to-follow process and visible results. Our service is 100% online and we process your application in moments while you are waiting.

In this website, there is our cash loan application form. Our form asks, the minimum number of questions needed to ensure our panel of lenders, have enough information to make a decision. This can take up to 3 minutes whilst you are waiting and ask that you do not refresh the page.

When our panel of lenders has decided offer you either a payday loan / unsecured loan / cash advance, you will automatically be redirected to the decision page. Hopefully this will be an offer of a loan, showing you the next step to receive the funds in your bank account – this is normally the same day, however in some cases can take up to 3 working days.

Here at I Need Cash, we work with a wide variety of lenders to ensure we can help a high percentage of our customers. However, the main qualifications for a loan are:

• Aged over 18
• UK resident for a least 3 years
• Employed

You can afford the repayments. There are some lenders we work with that may look at different criteria, and you may be able to find a loan even if you are not employed.

A payday loans is a short term cash advance loan, that is should be repaid over the next 1- 12 monthly instalments. They are small loans from £100 – £1,000 that are normally repaid on your next payday or over the next several paydays. The amount you can borrow will depend on how much your monthly salary and monthly outgoings.

Individuals that do not own their own home but rent, can take out a cash advance loan from £1,000-£25,000 that can be repaid over 5 years (60 months). This is an unsecured loan, as it is not secured against anything that it can be repaid against. There are a wide range of lenders we with that can help in providing unsecured loans.

We want to help as much as we can, which is why we can help find loans from as little as £100 up to over £1m. Of course they are very different types of loans, which various repayments rate and terms. A small loan, unsecured loan or payday loan can range from £100 - £5,000. These can be spread from 3 months up to 5 years – depending on how much you borrow. Larger homeowner loans over £3,000 could be spread over 25 years.

To use our service, the information required depends on how much you wish to borrow. Normally we require your personal details, including your contact details, your full address, income and expenditure.

Yes, we provide a secure website and service.

For most types of credit there will be a credit search at some point. For small loans / unsecured loans this will take place at the time of submitting your application on this website. However, credit searches for when you put through an application for a Car Loan or Secured Homeowner Loan may take place after the lender has contacted you directly.

When considering taking out a loan, you first must look at your ability to repay the loan. To do this, calculate your total monthly expenditure each month. The amount remaining must be far greater than the potential loan repayments. If you find that the loan repayments will be more than the income you have left each month, then you will be unable to afford the loan.

If you are considering a loan but have outstanding debts, repayment of your outstanding debts should come before taking out any additional credit. Obtaining additional credit may put you in a difficult financial situation. You must first consider all the options available to you.

APR stands for Annual Percentage Rate. It's a way to estimate the cost of borrowing money over a year. It's a percentage of the amount borrowed and includes interest and other charges, such as annual fees.

A lender is the company that directly gives you the loan. A Broker works on your behalf to find a lender that can provide the loan you are looking for. They do this by working with a wide range of lenders, as we do at I Need Cash.

The criteria is quite open to apply for a loan, the main thing is to ensure you can afford the repayments.

Our main criteria to apply for a loan is:

• You must be age over 18
• Be employed
• Have been a UK citizen for a minimum of 3 years
• Have a UK Bank Account

For further information, please see our Eligibility page

After you have had made your loan application, your information will be processed by our panel of lenders. If you match their criteria and you are happy with the terms, the loan will be paid in to your bank account. This can take moments for some lenders, particularly payday loans. For larger loans, it could take 1-3 days for it to arrive in your bank account.

Your credit rating can affect your ability to borrow cash. However we work with a wide range of lenders, which increases the potential of you being accepted.

So long as you can afford the repayments and match our main criteria to apply for a loan, let us try to help.

To obtain a UK loan, you must have been a UK resident for a minimum of 3 years.

When we are looking for a loan on your behalf, we always look at the lenders that provide the best loan rates first.

We recommend that carefully read the full terms and conditions before you agree to any loan offer. In these terms it will disclose options for repaying the loan early.

In most cases you will need your most recent employment pay slips for the past few months, along with bank statements. In some cases the lender may use open banking to view your bank statements.

What you wish to use a short term loan for is up to yourself, however it is advised it should only be obtained if essential. For example your car may need a repair and require a 500 loan to pay for the repairs. This is sort of issues is what these short term loans are designed for.

We recommend that you do not take out a small loan to fund a social event. What you wish to use a short term loan for is up to yourself, however it is advised it should only be obtained if essential. For example your car may need a repair and require a 500 loan to pay for the repairs. This is sort of issues is what these short term loans are designed for.

We recommend that you do not take out a small loan to fund a social event.

A small, short-term loan is an unsecured loan that is typically backed by a future source of income, often times a pay check. These loans are referred to as payday loans. These payday loans should only be used when truly needed, such as in emergency financial situations. They are not a solution to long-term debt problems.

This a term used to describe a loan offered to someone with poor credit, and their credit report is not very good. Due to the high risk involved to the lender, these types of loans traditionally have higher interest rates. By doing this, it allows individuals with bad credit to access a loan when needed.

The repayment schedule is provided in the terms of the agreement from the lender. Including how much is to be repaid the date of which repayments will be taken. If you are in a situation where you are struggling to make a repayment, you must contact the lender immediately.

For any finance you may take out, whether it is a short term / payday loan, unsecured loan, car loan or secured loan, if you are unable to make a payment you must contact the lender. By doing this, they can work with you on providing support.

Some lenders that provide loans for I Need Cash are Guarantor Loans. This means that another individual, this can be a friend, co-worker or family member, will guarantee the repayments of the loan.

These are loans also known as Payday Loans. This is a small loan, often less than £1,000 that is repaid is less than 12 months

All our short term / payday loans / unsecured loans undergo credit checks from the lenders. None of the lenders we work with provide ‘no credit check loans’.

We want to try to help provide you with a cash advance when you need it. As soon as you submit your application for a cash loan, we should have a decision in a moment. Several lenders we work with can send the cash advance to your bank account the same day. However some may take up to 24 hours or more.

Refused Car Finance | Refused Car Credit | CarFinance 247

The amount you'll be able to borrow will also depend upon your current credit history and income. Are you employed, can you prove your income and do you have any current clean credit history? All of this would aid our chances. A deposit would also help greatly.

While no deposit finance is available, a part-exchange can help you sell your existing car and use the value as a deposit to reduce the amount you need to borrow. And reducing the amount you borrow means your monthly repayments and the interest paid for your new car could be less.

When you apply for car finance, there’s a two-step process you’ll need to go through – securing a pre-approved car loan and being fully approved.

Car finance pre-approval offers a provisional decision based on the information you’ve provided during the application process. The information we require includes things like, but is not limited to:

• Personal details
• Information about your employment
• Address details for the last three years

The information you provide is then used to perform what’s called a soft credit check, which is an initial assessment of your affordability that doesn’t impact your credit score. This is helpful if you’re looking for poor credit car finance.

Once you’ve received a pre-approval for car finance, lenders will need to know what car you’d like to buy, then see your ID and supporting documents . They’ll then conduct a deeper dive into your credit profile to confirm your eligibility – this is called a hard credit search.

If a lender is happy that the car meets their criteria, and you pass all their ID and document checks, which help protect you and the lender from fraud, you will be ready to drive away in your new vehicle.

Whether you’ll get accepted for pre-approved car finance largely depends on your own personal circumstances, but we work with a varied panel of lenders to try and match you with one who can offer you the loan you’re looking for.

We consider each car finance application on an individual basis, assessing an array of factors, to give you the best chance of being accepted. There are some instances, however, where you may not be accepted for car finance.

If you’re refused car finance at the pre-approval stage, don’t worry – it won’t show up on your credit score and you can take some simple steps to improve your chances if you decide to reapply:

• Provide a larger deposit
  Applying for a loan with a significant deposit will reduce the overall amount you need to borrow, and often makes it easier to get car finance pre-approval. If this isn’t possible, though, we do offer bad credit car finance with no deposit.
• Reduce your loan amount
  Reducing the figure you want to borrow will lower your monthly payments, making your car finance more affordable.
  Alternatively, if you’re hoping to buy a more expensive car, you can choose to extend the agreement term. With Zuto hp car finance , you’ll pay the same amount (plus interest) in smaller instalments over a longer period, while PCP may be a little more in the long-run but will also see reduced instalments each month due to only paying the expected depreciation of the car.
• Improve your credit score
  If you’ve not been offered a pre-approved car loan, consider ways you can improve your credit score , such as registering on the electoral roll, keeping your credit utilisation low, and settling all outstanding payments.

This is a loan secured against your home, when you are a homeowner. These are loans can be based on the equity available in your home, with repayments lasting up to 25+ years.

No, they are the same loan. A homeowner loan is a secured loan, as it is a loan secured against your home.

This will depend on the lender whom you are accepted with and how much is outstanding on your mortgage. The most you will be allowed to borrow is the value of your property (LTV). For example if you have 50% outstanding on your mortgage, you may be allowed to borrow 50% LTV.

Yes. As the loan is secured against your home, if you do not maintain the repayments you put your home at risk. When looking in to getting a secured loan, we encourage you to assess all the risks.

This will be down to the individual circumstances but potentially yes.

Many homeowner loans are used to consolidate other debts. This can often help manage the payments and reduce the total monthly debt payment.