£1000 Loan
Could a £1000 loan help you out of an emergency? We know unexpected financial emergencies happen. With Lending Stream, you can apply from £50 to £800 if you are a new user and from £100 to £1500 if you are an existing customer. If approved, we’ll send the cash to your bank in 90 seconds*. We are a regulated direct lender. We consider people with poor credit history too.
Representative Example: Given a Representative APR of 1271%, if you borrow £300 over 6 months at 292% p.a. (fixed), you would owe 6 equal repayments of £96.39. You will repay £578.36 in total.
Not all applications will be approved for a loan. An offer of credit is subject to status and affordability checks.
Why choose Lending Stream for a £1000 loan?
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Direct Lender
Lending Stream is a FCA authorised and regulated direct lender, offering short-term loans without any hidden fees.
No early repayment fees
Repay in 6 monthly instalments. We don’t charge for early repayment.
Fast
Apply online 24/7 with decisions in seconds. If approved, cash is sent to your bank in 90 seconds.*
What are £1000 loans?
A £1000 loan designed to help you with unexpected expenses. They’re usually unsecured short term loans. This means the loan isn’t guaranteed by someone else or secured against assets like property or a car. Typically offered by direct lenders, these loans are accessible to people with bad credit.
With flexible repayment terms and straightforward processes, a 1000 pound loan can act as a short term financial support and provide a convenient way to handle unexpected bills or expenses.
How to check eligibility for a £1000 loan with Lending Stream?
To meet the eligibility criteria for a £1000 loan with Lending Stream, then you need to:
- Be a UK resident.
- Have an active bank account.
- Have a valid debit card.
- Be at least 18 years old.
- Be in regular employment with a monthly income of at least £400.
- Be and existing or returning customer to Lending Stream.
During our application process, we might ask you to show proof of your income. As a responsible lender, we do this to ensure that you can comfortably afford the loan repayments.
Representative 1271%APR
How to apply for a £1000 loan with Lending Stream?
If you’re looking for a 1000 pound loan, Lending Stream is here to help. Our loan application process only takes a few minutes to complete. To apply with us, you need to be an existing or returning customer and fill in our online application form. We’ll ask you to tell us:
- Some personal details.
- The amount which you want to borrow with us.
- Your employment, salary, expenses, and banking details.
Once we receive your application, we’ll run a credit check and affordability check. This is to make sure you can comfortably afford the repayments. If approved, we’ll send the money to your bank within 90 seconds*.
Representative 1271%APR
Can we lend you more than £1000?
With Lending Stream, new customers can borrow between £50 and £800, while existing customers can borrow between £100 to £1,500. The exact loan amount you will be approved for depends on your financial situation, eligibility, and personal circumstances. If approved, we’ll send the money directly to your bank’s current account.
How long do you have to pay your £1000 loan back?
With Lending Stream, you’ve got 6 months to pay back your £1000 loan. The monthly instalment repayments are designed to fit your financial situation, ensuring you can make your repayments comfortably on top of your other financial commitments.
You can repay as early as you want with no extra fees or additional payments. And because our loans are charged at a daily interest rate, you’ll save money if you repay early. You’ll only pay interest until the day of the final repayment.
Representative 1271%APR
Can I apply for a £1000 loan if I have bad credit?
Yes, you can apply for a £1000 loan with Lending Stream even if you have a bad credit history. We believe your current financial situation matters more than past challenges. Having a bad credit score or a low credit score does not automatically disqualify you from borrowing.
We check your ability to repay by reviewing your regular income and financial stability, rather than focusing solely on your credit score. If approved, we’ll provide a clear loan term and monthly repayment dates to your needs.
Our goal is to make borrowing accessible, offering a transparent and easy process to help you manage your finances effectively, even if you’ve faced credit issues in the past.
What if my £1000 loan application is rejected?
At Lending Stream, we never guarantee whether your application will be approved or not. We’ll look at different factors when you apply for a £1000 loan with us to help decide if you can afford the repayments. We don’t want you to borrow money that you can’t afford to pay back on time.
Your application may be declined, even if you were accepted for a loan with us in the past. Our customer service representatives won’t have access to information about credit decisions. So, they won’t be able to tell why you weren’t approved.
If your application is rejected based on the information, we receive from one of the credit reference agencies then we’ll let you know the name of the credit reference agency by email. You can check your credit file with them directly.
Advantages of a £1000 loan
- Fast cash: If you have any unexpected financial problem, a £1000 loan can give you quick access to the money you need.
- No collateral required: When you apply for a £1000 pound loan, you don’t have to risk any possessions. We won’t ask for collateral such as your house, cars, or any other assets.
- You may be eligible for a £1000 loan with bad credit: We will never pretend that your credit score isn’t important for us. But we do understand that your credit score doesn’t fully reflect your current situation. So, we also look at other information about your income and outgoings. This is why we even consider offering loans for bad credit.
- Repay in affordable amounts: If you take out a £1000 loan with Lending Stream, we’ll give you 6 months to pay back. Unlike some payday loans, you don’t have to pay it all back in one go.
Disadvantage of a £1000 loan
Lenders who offer short term loans for £1000 will usually have a higher interest rate than a high street bank. Is a 1000 pound loan what you need? Think carefully if this is the right amount to borrow to meet your needs.
FAQs – 1000 pound loan
What if I can’t repay my £1000 loan?
If you’re unable to repay your £1000 loan, contact us immediately. We prioritise offering support by discussing your repayment terms or exploring adjustments. Ignoring repayments can lead to late payment fees and also affect your credit score. This is why we encourage open communication to resolve the issue.
Will a £1000 loan affect my credit file?
A £1000 loan from Lending Stream can impact your credit report. Paying on time may improve your credit score and demonstrates responsible borrowing. However, missed payments can negatively affect your credit score. We encourage responsible borrowing and provide clear terms to help you meet your repayment on time.
Can I apply for a £1000 loan if I’m unemployed?
No, Lending Stream requires applicants to have a regular income to qualify for a loan. This is to ensure you can comfortably afford the loan repayments without any financial strain. If you’re unemployed, we recommend waiting until you have a stable income before applying to meet our eligibility criteria.
Does Lending Stream have a loan calculator?
No, Lending Stream does not have a loan calculator at the moment. However, when you apply for a loan, you can view the interest rate, APR, and your monthly repayable amount. This ensures you have a clear understanding of the loan term and the total cost before agreeing to the loan.