Applying For Loans Through Direct Lenders

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Applying For Loans Through Direct Lenders

• There can be a high number of different factors
  that can decide a borrowers fate as to whether
  they are accepted from finance from any range of
  different direct lenders.

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This can include details on things including
their full name, contact numbers, employment
details and address. They can also have to
include their banking information so sometimes
card details and account details will need to be
included.
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Direct Lenders Application

• During a direct lenders financial application,
  one of the first parts for any applicant will be
  the part where someone has to input details
  regarding their personal information.

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All of these details most likely will need to be
included and provided during the application for
any financial application to be accepted. There
can be times when something here cannot be
verified and in these instances direct lenders
may request documentation in order to get the
application finalised. Some of these documents
could be a drivers license or a bank statement
amongst others.
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Financial Application

• Another section that would have to completed
  during any financial application would be the
  credit check completed by direct lenders. Any
  lender will have to action this in order to see
  the likelihood that any borrower will then be
  able to repay the debt.

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They can see how their applicant has fared with
repaying other debts in the past whether be for
similar finance or they could be other ways to
borrow money. They can then work out the chances
of that person repaying their loan.
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If people have poor credit then the chances are
they will find it harder to get finance approved
in the future or it can often be expensive.
Having said that some direct lenders can look to
offer people with bad credit loans and other
finance types when they are needed.
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It can be likely that these days when people are
looking to take out finance they must then be
able to prove that the loan is affordable
otherwise no finance can be obtained. It can be
common that most applicants will have to complete
an income and expenditure section and this will
be used by any financial lenders to make sure
that the finance is affordable for that person.
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The borrower can often have to write down their
income, and then deduct things for items such as
monthly or weekly rent then transport and foods
costs etc. Then after that calculation they will
be the left with a disposable income amount per
month. This is the amount used to make sure
finance is affordable. If a loan is not
affordable then of course no application should
then be made.
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Source

• Location 1 Forbes Business Centre, Kempson Way,
  Bury St. Edmunds, IP32 7AR, UK.
• TEL [phone]
• EMAIL info_at_fidelityworks.co.uk
• Website www.lendplus.co.uk