Already the loans have a very negative image. The interesting contradiction is, you cannot live without them but you are also afraid of them. After all, who likes to bear an obligation? But what to do, whether it is the celebration of a new baby in the family or worry for the medical expenses, loans always come forward to help in the tough times. In exchange, they just expect a smooth return (in instalments) to their lender. But this is the later stage, first need is to borrow them and for that you have to go through a procedure. This is what makes most of the people feel worried about the loans, some even drop the idea to borrow funds. However, not every time you have a choice, especially if a need is stubborn enough to act aggressive if you do not feed it on time.
All the known inventions in the human world are focussed towards the well-being of people. Finance industry too, could not remain untouched from the new waves of change and the doorstep loans came into existence. Synonym of comfort, these loans have earned a good name for their borrower-friendly approach. Especially those with physical disability or with no bank account really enjoy getting the funds at their door in cash.
Process is simple and clear
A very decided culture works in the world of doorstep lenders. Most of them follow almost similar process that completes in only 3 little steps.
1 . Apply online – Not a complicated step, just fill the basic financial and personal details.
2 . Get the approval decision – Minutes after you submit the loan application the approval decision comes.
3. Lender calls to fix a meeting – If your application gets approved, the lender calls you to organise a meeting with its loan agent. This is the person that brings the cash to your door.
What happens when the loan agent comes?
Most of the applicants are not very clear about how the meeting takes place with the loan representative. They get confused which provokes anxiety and uncertainty.
- Step-By-Step Guide On The Meeting With The Lender’s Representative –
- As you gave a time to the lender, the agent comes on the decided time, date and day.
- Keep all the financial details and documents ready, like – bank statement, income proof etc. to show to the agent.
- After the study of the important documents that prove your affordability, the agent gives the final rate quote on the deal. The amount may vary a little according to your affordability. Don’t worry, this does not mean you always get less than what you expect but sometimes even more than your expectation, if repay capacity is good.
- If you are convinced with the deal offered by the loan representative then sign the deal.
- Once the deal is signed, the agent gives the loan amount in cash at the very same time.
- Last thing is about the repayments. When you start paying the instalments, the same credit representative comes to your home to collect the repayments. By the way, there is no charge or additional fee for that.
Obligations are not obligatory
Funds through doorstep loans are majorly borrowed for short-term needs. There is no need to back your loan application with a second borrower or collateral. This gives a little rise in the interest rates but the feature of customisation works. However, in case you want to borrow a little more amount while sitting at your home then it is better to provide a guarantor or collateral to calm down the interest rates. The ball is in your court; decide according to the situation and affordability.
Bad credit scorers have due solutions
If you have a poor credit rating and think that rejection is the only thing in your destiny then it is a BIG myth. Doorstep funding in the UK has grown up well after it paired with the next generation online lending. It is now available to the borrowers beyond the constraints of credit score status. However, you are not in a fairy tale and to get funds with bad credit, it is necessary to prove the repayment capacity. Current income status should be good. Salary slips, bank statement are the two important tools to prove the affordability. Do not miss on this aspect, as this is decisive and plays the role of game changer.
When it comes to credit scores, from excellent credit score applicants to good, fair and bad credit scorers, all can apply. However, the factor of income status and repay capacity is always important. You cannot say that a person with good credit history can get approval despite no job or income source in the current times. Every applicant has to own the capability to afford a loan.
The doorstep loans can pair with any other loan. Bad credit loans, guaranteed loans, no guarantor loans, student loans, all come with doorstep services. Irrespective of reason and loan products, the funds can ALWAYS reach to you with doorstep services.