Doorstep funding – What a convenient way to borrow funds. While sitting on your sofa, or bed or in the garden you apply for the loan online, get approval decision and then a loan agent visits your with your loan amount in cash. This is the basic idea of how the doorstep loans act but a detailed information can be more helpful
Let us talk about the visit of home loan agent
Most of the borrowers have a little confusion of what a loan representative can ask during the conversation and how the meeting is arranged. Why not take a systematic look at the related consequences of doorstep lender representative and the visit to your place.
Now the formalities and obligation
Formalities are very few as the application procedure is completely online and has only three steps.
1. Apply online ,
2. Get approval decision
3. Get funds at home in cash.
Obligation secret – The doorstep funding is of short-term nature and includes no collateral and guarantor. The interest rates are little high but don’t worry the personalised pricing is the vital feature that calms down the rates. This makes the repayments affordable.
Home collection for repayments
No account debit, no visit to any branch or office, the repayments are collected by home loan agent from your place only. On the decided date, the agent visits your home and takes the repayment amount.
Take care of these things while applying for the doorstep loan
Being an applicant, you may commit some mistakes that can later obstruct your way to loan approval. Why not take care of few rules for a safer way to apply for loan.
One Lender At A Time – Do not apply to many lenders at the same time. It affects your credit records with many search footprints and then lenders hesitate to consider the loan application.
Stay Loyal To The Guidelines Of The Lender – Cooperate with the lender and provide every required information. Follow its rules, after all everything is in action to bring you the desired financial assistance. Do not hide anything, credit reference agencies have all your financial information and lenders have a reach to that information. If they discover something later hidden by you, approval may become impossible.
Is there any arrangement for bad credit applicants?
Yes, the loans are in possible reach of bad credit borrowers but with TWO conditions.
- You need to have a very good repayment capacity – The lenders need to have a surety of timely instalments of loan and a good income and repay capacity is vital for that.
- The bad credit situation should not be consistent – Consistent bad credit situation from a long time shows your irresponsible financial behaviour.
- In Credit Score Issue, Approval May Be Difficult If….
If you have a weak credit score performance, one thing is important to know. It is true that you can apply with bad credit but in case you have very bad credit rating, it is perhaps better to find a very bad credit loan option. Lenders do not consider worst credit scorers. However, not many but there are some lenders that offer very bad credit loans at a high cost. These are like tools to improve your finances. Borrow funds, repay on time and earn a boost in credit rating to get rid of the intense chaos.
- No Credit Check Facility
In case of bad credit, a credit check may be destructive as it leaves footprint of credit score perusal. To prevent this, doorstep loans with no credit checks can come to rescue. Why not play safer if a way out is available?
Concept of doorstep loan is for the comfort of specific category of borrowers. These are – people with no bank account, people on benefits and people with physical disability. BUT, that does not mean that other borrowers cannot apply. This is a service that can be paired with any loan according to the practicable possibilities.
Convenience is a big feature to have in a product or service. Doorstep loans have it in abundance, use it well, use it wise and forget not repay on time.