In the middle of a month any salaried citizen of UK may face emergency fund shortage to meet daily or monthly financial obligations. In the meantime, an unwanted bill may arise, which has to be solved very quickly. If no other personal alternatives stay alive, only institutional loans remain afloat. Furthermore, the salaried person holds a bad credit report and no valuable property or assets for further collateral mortgage; no institution will allow any secured loan against the person. In this situation only and the best alternative is a 3 month payday loans UK. The loans will be small, but instant cash. Repayment period is restricted to 3 months only.
The person has to fulfill some conditions. The person must be a UK citizen. His age must be above 18 years. He must have a steady job since last six months. His salary should be near about £1000 per month, along with an active bank account.
Uniqueness of this system is that it is easy, speedy and paperless; because it is an online method. The borrower has to apply online. All the lending companies of Britain maintain dedicated website and prefer to work online. The loan seeker has to submit online a simple short form stating some relevant personal information only, no credit check, no documentation, no queuing. Lender may check this information within short time and sanction the loan. The person may avail the loan himself in the range of £ 100 to £ 1500. After scrutinizing all financial capacities of the applicant the lender will sanction the loan and send the amount to the bank account of the borrower within 24 hours.
The borrower must compare all the different lending companies before fixing the deal, particularly for the interest and other charges. Interest rate is bit higher, but it varies from one company to other. Comparing is better for knowing the rules and regulations of repayment system which also may vary from company to company. Repayment tenure is fixed; normally it starts from the next pay day. Repayment day may be extended after prior approval from the lender against extra charges. Generally lender will deduct the disbursed amount plus interest and other charges from the borrowers’ account.
Adria Marsh is author of payday loans visit www.3threemonthloans.co.uk