Borrow Money Online
Looking to borrow money online? Lending Stream could help. We offer short term loans that can help you manage unexpected expenses. If your application is approved, we’ll send the cash to your bank in 90 seconds*.
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 to borrow money online?
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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.*
Lending Stream is FCA authorised
Lending Stream has been helping customers in the UK since 2008. Since then, we have helped over half a million people with their financial needs by lending over 2.5 million loans. We’re an FCA-authorised and regulated direct lender, with authorisation number 689378. Responsible lending is our biggest priority, and we want to ensure our customers’ experience is great.
How much money can I borrow today?
At Lending Stream, as a new customer, you can borrow between £50 and £800 to help you through a financial emergency. If you’re an existing customer and managed your account well, you can apply for £100 to £1,500. We can’t guarantee that you can borrow the amount you apply for. We might offer you a lower amount based on our assessment of your finances and what we think you can repay.
You may be able to borrow more with some lenders if you have a guarantor or collateral to secure your loan.
How can I borrow money fast and get it instantly online?
How quickly you’ll get access to your credit depends on the provider and their terms. There are lenders that offer same day loans or quick loans. So, there’s a chance you could get your funds rapidly.
At Lending Stream, we value convenience. We’ll make a decision on your loan application in minutes. We’ll send the loan to your bank within 90 seconds if your application is approved. It may take longer to reach your account depending on your bank’s processes.
Eligibility criteria to borrow money online from Lending Stream
If you are looking to check your eligibility to borrow money from Lending Stream, then you must:
- 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.
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 to borrow money from Lending Stream?
Applying to borrow money from us is an easy process. You need to fill out our online application form and give us the following details:
- Enter your personal details
- Choose the amount you want to borrow with us
- Provide us with your employment, salary, expenses, and banking details
Once we receive your application form, we will run affordability and credit checks on your profile. If approved, we’ll send the cash to your bank within 90 seconds. It may take longer to reach your account depending on your bank’s processes.
Representative 1271%APR
How long can I borrow money for with Lending Stream?
With Lending Stream, you’ve got 6 months to pay back what you borrow. If you want to repay your loan sooner, that’s fine. You can repay as early as you want with no extra fees. And because our loans are charged at a daily interest rate, you’ll save money if you repay early. You only pay interest for the days you borrow.
What are my money borrowing options in the UK?
1. Short term loans
Short term loans can provide quick access to funds for a short period. These loans are typically repaid over months rather than years, and are generally designed for emergency use. How much they cost will depend on the lender and the length of the loan. It’s important to carefully consider the terms to make sure you can comfortably repay the loan.
2. Payday loans
Payday loans are very short term loans, typically for small amounts. They’re called payday loans, as they’re designed to be repaid on your next payday or over a couple of months. While they can provide quick access to cash, they can come with very high-interest rates and charges.
3. No guarantor loans
Guarantor loans involve having someone who acts as a guarantor on your loan. Their credit is used and, if you aren’t able to repay, they’re liable for the loan. A no guarantor loan is when you can get a loan without a co-signer or guarantor.
4. Interest free credit cards
Interest free credit cards, or 0% APR (Annual Percentage Rate) credit cards offer an interest-free period. During this time, no interest is charged on purchases or balance transfers. How long this period is depending on the card issuer and the offer terms. They’re usually several months to over a year.
Can I borrow money if I have bad credit?
Yes, it is possible to borrow money if you have bad credit, as long as you can afford to repay it. However, a low credit score may limit your options and result in higher interest rates. Basically, the more of a risk a lender sees you as, the more the loan is likely to cost.
At Lending Stream, we understand that life can be unpredictable. And, sometimes, that can lead to financial problems. This is why we consider lending to people with bad credit too. We don’t just look at your credit history. We also look at your income and expenses, to help determine if you can afford the loan repayments.
Why should I borrow money from a direct lender?
Borrowing money online from a direct lender can have several advantages.
1. You know what you’re getting
If you apply with a direct lender, you’ll be dealing directly with that lender. If you apply with a credit broker, you’ll end up being passed to another lender. It may not even be the best deal available.
2. More streamlined process
Direct lenders have the authority to make lending decisions themselves, meaning the loan approval process can be quicker and more efficient than traditional banks or intermediaries.
3. Customer support
Direct lenders often prioritise customer satisfaction and provide dedicated customer support. After all, if your loan doesn’t go well, it’s their reputation on the line. If you have any questions or need assistance, you can contact the lender directly for help.
It’s important to note that borrowing from a direct lender may not be the best option for everyone. It’s always a good idea to compare different lenders, terms, and interest rates. By doing this, you can find the best fit for your needs and financial situation.
Advantages of borrowing money online
Borrowing money can offer several advantages depending on your specific financial circumstances and needs.
1. Access to funds
Borrowing money allows you to access funds you may not have readily available. This can be particularly helpful in emergency situations or when you need to make a large purchase.
2. Flexibility
It can provide flexibility in managing your finances. It allows you to spread out the cost of a purchase over time, making it more affordable and manageable.
3. Building credit history
Responsible borrowing and timely repayment of loans can help build a positive credit history. This can be useful in the long-term, as lenders often consider your credit rating when making lending decisions.
Disadvantages of borrowing money online
It’s important to note that borrowing credit also comes with responsibilities and potential risks.
1. Interest and fees
Borrowing often comes with interest charges and fees. These additional costs can increase the overall amount you need to repay, especially if you repay late. This can make the loan more expensive in the long run.
2. Debt burden
If you can’t afford the loan repayments, this can cause a debt spiral. The worse it gets, the more likely it is to create a burden and impact your monthly budget. Make sure you can comfortably afford the loan repayments without compromising your financial stability.
3. Impact on credit score
Late or missed repayments can negatively impact your credit score. A lower credit score can make it difficult to get credit in the future. It may mean higher interest rates or unfavourable terms.
FAQs – borrow money
Can I borrow money without a credit check?
Most FCA-registered companies conduct credit checks as part of their standard procedures, although it is not a mandatory requirement. The decision to perform a credit check typically depends on the nature of the services being provided and the individual company’s policies.
Do I need a guarantor to borrow money?
It depends on the type of loan and your financial situation. If you have a poor credit history, you may be unable to get a personal loan without a guarantor.
I am in debt – should I borrow money?
You should be careful about borrowing money when you are already in debt. Consider seeking financial advice, and looking at sites like moneyhelper.co.uk for useful information. You may also be entitled to benefits you’re not receiving. Check out our BenefitGlance tool at afforda.co.uk for more information.