When you are need extra money for your personal expenditures, you may want to consider a payday loan. The application and release process are fast, so you get your funds quick. When it comes to getting the best options for online payday loans in Aberdeen, we can help you.
Lender vs Broker
A lender is an entity that provides a loan to customers and adds interest and fees according to stipulated rules and the loan agreement.
A broker, on the other hand, is an entity that deals with lenders to get the best agreement and repayment terms for the borrowers.
Brokers are fully transparent with their dealings and take pride in the services they offer. Broker works only with reputable lenders, authorised by the Financial Conduct Authority or FCA.
Loan broker acts as a bridge between authorised, reputable lenders the customers who are looking for short term, high-cost loans.
Choosing the Best Matched Lender
When you apply for a loan using request form which you can find on the website, some pieces of the information you provided will be forwarded to a panel of lenders. The lenders will then assess your application to see if they can provide you the loan.
Lenders indicate that they can process your loan. The credit broker then sends you to the secure page of the lender so you and the lender can decide if the loan terms and plans are acceptable or not. If you accept, you will need to sign the agreement electronically.
There might be instances wherein none of the lenders are willing to accept your loan request initially. Monarch will still help you by forwarding your request to other consumer credit brokers so that the effort and time you gave are not wasted.
The request procedure is quite easy. You only need to click on the Apply Now button and fill out the online request form with the required details.