FAQ

Welcome to our frequently asked questions page

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Frequently Asked Questions

Direct Online Loans find flexible, low interest, low cost secured personal loans for UK home owners. We co-operate closely with selected, reputable UK institutional money lenders to offer you flexible, low cost loan deals to suit your individual needs. For a great selection of useful Finance and Loan articles click here.

Feel free to click on any question of interest in order to obtain the answer.

Questions:

  1. How much can I borrow with Direct Online Loans?
  2. Over what period can I repay a loan?
  3. Can I tell what my monthly payments will be before applying?
  4. How long do loan applications generally take for processing?
  5. Can I apply for a loan if I have been refused elsewhere?
  6. Can I apply for a loan if I don't have any equity in my house?
  7. What can I use the money that I borrow for?
  8. Can I repay my loan early?
  9. Why are applicants required to be home owners?
  10. How is my loan amount determined?
  11. How do I apply for a loan?
  1. Q: How much can I borrow with Direct Online Loans?
    1. A: When you take out a secured loan with Direct Online Loans, you can borrow anywhere from £7,500 to £100,000.
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  2. Q: Over what period can I repay a loan?
    1. A: The money that you borrow can be repaid over 5 to 25 years, depending upon the specific terms of your loan.
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  3. Q: Can I tell what my monthly payments will be before applying?
    1. A: You can use the Loan Calculator on this site to calculate your monthly payments. It should be noted that all figures should by used as a guide only as interest rates may vary depending upon your credit history and other factors.
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  4. Q: How long do loan applications generally take for processing?
    1. A: After your application has been received, most principal decisions can be reached on the same day. It may take up to 14 days or longer for your loan to be completed however, depending on your circumstances.
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  5. Q: Can I apply for a loan if I have been refused elsewhere?
    1. A: Yes, you can. Direct Online Loans is an independent broker, and we work with a number of different lenders in order to help you find the loan that's right for you. Just because you've been turned down for a loan elsewhere doesn't mean that we won't be able to help you locate a lender who's willing to make you an offer.
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  6. Q: Can I apply for a loan if I don't have any equity in my house?
    1. A: Yes. Loans can be made for up to 125% of your home's current value, minus any remaining mortgage balance.
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  7. Q: What can I use the money that I borrow for?
    1. A: The money that you borrow through a Direct Online Loans lender can be used for just about anything you would want, including debt consolidation, holidays, making large purchases, home improvements or almost anything else that you could think of.
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  8. Q: Can I repay my loan early?
    1. A: You can pay the money that you borrow back at any time. Any specific clauses concerning early repayment will be covered in your final loan agreement.
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  9. Q: Why are applicants required to be home owners?
    1. A: Applicants are required to be home owners so that their home or the equity therein can be used as collateral to secure the loan and keep interest rates low.
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  10. Q: How is my loan amount determined?
    1. A: The amount of money that you are able to borrow can depend on a number of factors, including the following:
      1) The current value of your home
      2) Your outstanding mortgage balance
      3) Your current bills and other expenses
      4) The income of both you and your household
      5) Your credit rating
      Additionally, these same factors play a large part in the amount of interest that you'll have to pay.
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  11. Q: How do I apply for a loan?
    1. A: Simply, complete the online Loan Application Form on this page for a quick in principle decision.
      Any final loan agreements or offers will be presented after the principal decision has been made and our lenders have had a chance to review your information in further detail.

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Homeowner Fast Loan Application
* Denotes required field. Fisa Registered

* Are you a Homeowner or Tenant
* Please select Homeowner or tenant.
*Please enter a loan amount between
         £7,500 & £100,000. *Please enter your amount in numbers only *The minimum loan amount is £7,500 *The maximum loan amount is £100,000
(£7,500 - £100,000)
*Your First Name is required.
*Your Surname is required.
*Your House name or number is required.
*Your Street is required.
*Your Town/City is required.
*Your County is required.
*Your Postcode is required. *Your postcode is not correct.
*Home Telephone
STD Area Code


*Please re-type your correct STD Area Code,
for example; 0208 for Outer London, 0207 for Inner London, 01923 for Watford etc.
*Please re-type your correct STD Area Code,
for example; 0208 for Outer London, 0207 for Inner London, 01923 for Watford etc.
*Please re-type your correct STD Area Code,
for example; 0208 for Outer London, 0207 for Inner London, 01923 for Watford etc.
*Home Telephone No. excluding STD code

*Your Home Telephone number is required.
*Please enter your telephone number correctly EXCLUDING the STD Area Code. For example, if your telephone number is “0208 123 1234” just enter “1231234”.
*Please enter your telephone number correctly EXCLUDING the STD Area Code. For example, if your telephone number is “0208 123 1234” just enter “1231234”.
*Your email address is not correct.
*Please tick this box to confirm you have
read our Data Protection Message *Please confirm that you have read and agree with our Data Protection Message.
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Secured Loans:- Typical 13.55% APR Variable. Our rates vary from 7.9%APR Variable to 19.9%APR Variable. The highest rate is for customers with severe credit problems. All loans are subject to status in the UK.

Unsecured Loans:- Typical 19.9% APR Variable. Our rates vary from 7.4%APR Variable to 41%APR Variable. The highest rate is for customers with severe credit problems. All loans are subject to status in the UK.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

We are licensed credit brokers - We are duly registered with: the Data Protection Act, 1998 Reg. No: Z9110210, the Consumer Credit Act, 1974 Licence No. 531057 and FISA Reg. No. 27660404.

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