Direct Lender Loans
Looking for a direct lender loan in the UK? At Lending Stream, we can help you get quick access to the cash you need when times are tough with our direct lender loans (if approved).
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Why choose Lending Stream for direct lender loans?
Fast
Cash sent to your bank in under 90 seconds, once approved.
Convenient
24/7 simple & online application. Instant decision. Direct lender since 2008.
Affordable
Repay in 6 monthly repayments. Pay early with no extra fees and save on interest.
Warning: Late repayment can cause you serious money
problems. For help go to moneyhelper.org.uk.
What is a direct lender?
A direct lender is a financial institution or a company that offers different types of loans directly to borrowers without any middlemen or credit brokers. This means that the lender has complete control over the loan process, from assessing the borrower’s creditworthiness to sending the funds to the borrower’s bank account.
Direct lenders can include banks, credit unions, and online lending companies. They offer various types of loans, like short term loans, bad credit loans, payday loans, and mortgages.
What are direct lender loans?
Direct lender loans are a type of loan where the funds are provided directly by the lender, rather than through a broker or middleman. This means that when you are borrowing money, you'll be dealing with the lender directly.
Direct lender loans can offer several advantages, including quicker approval time, a simpler application process, and more. These loans can also be a good option for those with bad credit, as direct lenders may consider you giving a loan even with bad credit.
Is Lending Stream a direct lender?
Yes, Lending Stream is a reputed direct lender in the UK which offers short term loans to the users. Users can get loans like emergency loans, same day loans, cash loans, etc., with us for different purposes.
We even consider people for loans with bad credit.
As a UK direct lender, you can borrow money and get loans of up to £1500 (up to £800 for first time borrowers) on the same day if approved.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How do direct lender loans work?
Direct lender loans work by cutting out the middleman from the process and providing funds directly to the borrower. This means that when you apply for a direct lender loan, you'll be dealing with the lender directly throughout the borrowing process.
The application process is very easy and straightforward, and many direct lenders provide an online application form too.
After submitting your application, the lender will assess your eligibility and creditworthiness before deciding on whether to approve your loan. If your application is approved, the funds will be transferred to your account, and you'll be responsible for making repayments according to the agreed loan terms.
If you take out a direct lender loan with Lending Stream then we'll give you 6 months to repay your loan, along with the interest rate in easy monthly instalments.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
What is the difference between a direct lender and a traditional lender?
Below are a few differences between a direct lender and a traditional lender. These differences will help you choose if you want to go for a loan with a direct lender or a traditional one.
| Direct Lender | Traditional Lender |
|---|---|
| Funds are provided directly to the borrower | Funds are provided through a broker, intermediary, or even directly |
| Quick processing time. You may get the loan on the same day | Processing time may be longer due to additional layers of middlemen |
| May offer more personalised lending solutions | May offer more rigid lending solutions |
| Flexible eligibility criteria | Strict eligibility criteria |
| Easy and simple online application process | Application process may be complex |
| May consider you even for a bad credit loan | You might not get approved if you have a bad credit score |
How can I check my eligibility for a direct lender loan in the UK?
To be eligible for a direct lender loan in the UK, you'll typically need to meet criteria set by the lender. This may include being over a certain age, having a steady income, and having a good credit history.
If you are looking to check your eligibility to apply for a direct lender loan with Lending Stream, then you must:
- Be a UK resident
- Have an active bank account
- Have a valid debit card
- Be over the age of 18+
- Should be in regular employment with a monthly income of at least £400
Being a responsible lender, during the application process, we can ask you for your income proof, to see if you can afford the repayments with all your existing financial commitments. We may verify these details discreetly in some cases.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How to apply online for direct lender loans?
Applying for a direct lender loan in the UK is a straightforward process. You usually need to fill out an online loan application form, which will ask for information like your age, income, residency, expenses, etc.
Once you've filled in the application form and submitted it, the lender will assess your eligibility and creditworthiness before deciding on whether to approve your loan.
If approved, you’ll be asked to sign the loan agreement and once signed, the approved loan amount will be sent to your UK bank account.
Applying for direct lender loans with Lending Stream 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 a credit and affordability check on your profile. If approved, we’ll send the cash to your bank within 90 seconds.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How much can I borrow with a direct lender loan?
The amount you can borrow from a direct lender loan is based on factors like your income, credit history, and the type of loan you are applying for.
Usually, most direct lenders offer loans between £50 and £5,000 but some direct lenders do consider lending more if you’ve got a good credit history or a steady source of income.
You can sometimes even check if you’re eligible for a loan and how much you can borrow before applying for the loan using the loan eligibility checker. This won’t affect your credit score.
Will taking out loans from direct lenders affect my credit score?
Applying for a loan from a direct lender can have a temporary negative impact on your credit score, as each application will leave a footprint on your credit report. However, this impact is usually small and short-lived, and shouldn't have a significant impact on your overall creditworthiness.
If you’re approved for a loan from a direct lender in the UK then make sure to make your repayments on time as it can have a positive impact on your credit score. This is because lenders typically report your repayment behaviour to credit reference agencies, which can help you in building a positive credit history over time.
However, if you miss your repayments or default on your loan, then this can have a negative impact on your credit score, making it more difficult for you to obtain credit in the future.
It's important to make sure that you can afford the repayments before taking out a loan, and only borrow what you need.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Contact us - Lending Stream
If you already have an account with us, you can log in and chat with us through there. Otherwise, you can get in touch on our contact us page.
If you prefer you can give us a call on 0203 808 4440#. We’re open from 9am to 6pm Monday to Fridays, and 9am to 1pm Saturdays.
FAQs - direct lender loans
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Can I get a bad credit loan from a direct lender?
Yes, you can get an online direct lender loan even if you have bad credit. Direct lenders often have more flexible eligibility criteria than traditional lenders and may be willing to work with borrowers who have poor credit score.
However, keep in mind that you may be charged higher interest rates and fees for such loans.
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Can I get a payday loan from a direct lender?
Yes, direct lenders often offer payday loans online as well as other types of short term loans. Although we at Lending Stream don’t lend payday loans, we give a better alternative.
It's important to remember that payday loans from these payday lenders can be very expensive because of the risk involved and should only be used as a last resort.
You should always check the terms and conditions before agreeing to the loan and take out only what you can afford.
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Can people on benefits get a loan from direct lenders?
Yes, some direct lenders may be willing to offer loans to people on benefits. However, it's important to carefully consider if you can afford the repayments before applying, as missed repayments can lower your credit score and put you in further financial difficulties.
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What are the risks of taking out a loan from a direct lender?
The main risk of taking out a loan from a direct lender is the high interest rates and fees, which can make it difficult for people to repay the loan and put them in financial hardship.
It's important to carefully read the terms and conditions of any loan agreement before signing, and only borrow what you need and can afford to repay.
We don't offer loans under 60 days. We offer 6 or 12 month loans. The maximum repayment period is 12 months. Maximum APR 1721%.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk