Borrowing money online in the UK – Is it safe?
There are of course always dangers when it comes to borrowing money. There are more lenders and brokers in the UK than ever before and it can be quite a minefield knowing where is the best place for you to borrow money online. All lenders and credit brokers in the UK are regulated by the The Financial Conduct Authority. This gives customers a great level of protection. Companies have to act responsibly in everything it does, from its marketing, what it says on its website and who they allow to borrow money. UK lenders are under scrutiny that has never been seen before, and this is great for customers. The FCA has even introduced a rate cap of 0.8% interest per day, so you know that you will never pay more than that.
Whilst Upwards does not perform a credit check, the lenders who view your application will perform a ‘soft search’. This has no impact on your credit rating, meaning we can search the market to get you the best deal. Once approved, the lender will complete a full credit check before paying out your loan. The is no such thing as a loan with no credit check .
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How easy is it to borrow money?
Our simple application process is all part of our aim to make borrowing money stress free and affordable. This is because we understand that life can be unexpected at times and that when such things happen, having fast, fair access to extra funds is important. It is important to make sure that you only apply for credit if it is needed. Taking on additional credit can impact you financially.
Once you have decided that you need a loan, the next question is how much money can I borrow? When looking for a loan it is always important to ensure you only borrow what you need; too little and you may find yourself needing to take out another loan; too much and your repayment plan may be much longer than you require. To help with this, our panel of lenders will allow you to borrow money to your specified amount. Available from the very small to the medium and bigger, our lenders offer an incredible selection of short term loans. This allows you to better budget for your loan and ensures you repay the money you borrow as quickly and affordably as possible.
Upwards works with one of the biggest panel of lenders in the UK. Many of these lenders will allow you to borrow money fast even if you have bad credit. If you can afford the repayments, have a regular income, are aged 18 or over, are a UK resident and have a valid bank account we may be able to help. If you are worried about being declined, try our free ‘Eligibility Checker’ to find out if you can borrow money with bad credit. Our Soft Search technology means that we can search the market for the best bad credit loans for you without damaging your credit score.