Loans Sunderland

Short Term Loans from Conduit

If you find yourself in need of a short term or loan to cover important expenses which may require a large sum of money, then be sure to get in touch with the team at Conduit. We are authorised and regulated by the Financial Conduct Authority and have been lending to a wide range of clients throughout Sunderland.

Our team of loan providers offers personal loans that can be transferred into your bank the same day for a small fee. So, if you live in the Sunderland area and you are looking for a personal loan the team at Conduit is here to help. Conduit is a responsible lender offering fair and affordable personal loans and who present an alternative solution to high-cost credit. For more information on our loans in Sunderland contact our team today!

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Personal Loans

At Conduit we aren’t just loan makers, we are a social enterprise that offers services to create opportunities and transform lives.

Even if you have a poor credit score do not hesitate to get in touch with one of our friendly team members today. It is important to be open and honest about your credit history as this information will show on your credit report. We will look at your credit report to see how you are managing your current and past financial commitments.

The loans we provide are all approved based on a customer’s affordability to repay back the loan, your bank account management, and credit history to see how you have been managing your current finances and any existing debts.

Local Personal Loan Service

At Conduit our aim is to make the process as smooth and simple as possible for our clients. We will help to take away the stresses of needing a small amount of cash, in and around the area of Sunderland. For more information simply call our professional short-term loan advisers today, they will be more than happy to assist. Our assessments are quick and easy, and we will be able to quickly determine whether our loan service is the right choice for you. After this we will arrange to meet and discuss your options further, this is all done at a time convenient for you.

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What are Short Term Loans?

A personal or short-term loan are loans that are repaid over a shorter period where you can borrow a sum of money and repay this over a set time with fixed and affordable repayments. The lender will charge you interest to lend you the money which means you will repay the amount you borrowed plus the interest. The advantage of a personal loan is that you can spread the cost of a purchase with affordable repayments over a period.

Why Choose a Short Term Loan?

There are many advantages when it comes to applying for a short-term loan some of these advantages include:

  • Improve Your Credit Score – Short-term loans are given to people who can easily pay them. This is so fortunate because the faster your pay, your credit score goes higher. With this, you can go for increased loans in order to take care of a larger project.
  • Low-Interest Rate – When an emergency comes up, it is human nature to find a quick and easy way out. Taking out a short-term loan turns out as one of the best ways out. Since you are taking this loan out for a shorter period of time, it means you will pay less in terms of interest.
  • Quick Approval – Whenever an unexpected event occurs prompting you to get for some funding, it is recommended that you go for that fast-available source of finances. A short-term loan is very reliable in such instances. This is because of its quick application and approval of nature. It allows you to deal with the emergency as quickly as possible.

Short Term Loans vs Payday Loans

One of our most frequently asked questions is ’What is the Difference Between a Short-Term Loan and a Payday Loan?’ Just as the names suggest, a payday loan is an amount of money advanced by a lender until the borrower’s next payday. Lenders make a large profit by charging a high rate of interest and having the borrower repay the loan in one go. With a payday loan, you can’t pay the money back in installments.

By contrast, a short-term loan can be taken over a longer term and repaid in monthly or weekly installments. The option to choose a repayment schedule that suits your circumstances can make paying back this type of loan more manageable and affordable.

The interest charged on a short-term loan is typically lower than on a payday loan, although both types can carry penalties and charges if you don’t keep on top of your repayments.

Responsible Lending Sunderland

The lending responsibility of long- and short-term loans is important for both lenders and borrowers for varying reasons and both have different responsibilities.
Responsible lending is to act in a customer’s best interests, ensuring affordability, transparency of terms and conditions and supporting a borrower if they experience repayment difficulties.

Lenders have a responsibility to make sure borrowers understand the details of the loan and carry out thorough checks on any borrowers, so they can be confident that what customers will receive will be suitable for their circumstances.

Loan Calculator

If you are wondering how much your weekly repayments will be on your loan, then look no further than our loan calculator. We provide payments for loans over 26 or 52 weeks only, however, we offer flexible repayments from 4 to 52 weeks. If you are looking for a bespoke quote to your individual circumstances, then please don’t hesitate to call our team on 0300 111 0559.

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Apply for a Loan with Conduit

When choosing Conduit for loan services in Sunderland, applying online has never been simpler. You can apply online or call us on 0300 111 0556.

You will need to complete an application form that asks questions around your personal details and your income and expenditure. Once we have received your application, we will assess it and communicate our decision to you via email, telephone or text.

If you are approved in principle, we will email you requesting you to e-sign your loan documents (Fixed Sum Loan Agreement; Adequate Explanation Document and Pre-Contract Credit Information). We may also request that you send us some additional evidence to support your application.

Once you have signed your loan documents and sent us any additional forms of evidence, we will assess your application and offer you a loan. We will email you to inform you when this happens and that the funds are being transferred into your bank account. It usually takes up to three working days for funds to clear, depending on your bank (unless you have requested a faster payment).

For Loans in Sunderland, Contact Conduit Today

Apply for a Short-term loan today and discover the many benefits that you can receive from this method of a personal loan. Our aim is to make things easier for our clients in Sunderland, and so this personal loan could be a quick solution to your problems. Call us now to learn about our terms and conditions, or for any other inquiries. We will be more than happy to assist you.

 

Offering Loans throughout Sunderland

Frequently Asked Questions About Loans and Short-Term Loans in Sunderland

What Are Short Term Loans Used For?

Short-term loans can be used for all kinds of things, but the more expensive the loan, the more likely it is to be an emergency loan. In fact, many short-term lenders are prohibited from advertising that loans can be used for ‘frivolous’ purchases like luxury items or holidays. They’re also not designed for regular usage, as that can become more expensive.

Shorter term loans are for emergencies because it’s generally a better idea to plan longer-term for luxury or unnecessary purchases.

How Long is Short Term Loans For?

There are no specific time periods but generally when people talk about ‘short-term loans’, they’re for less than a year. They can range from a day or two up to a full year. Anything within those time periods would generally be regarded as ‘short-term’.

What If I Struggle to Repay My Loan?

If you are experiencing financial difficulties and are struggling to keep up with the repayments on your personal loan, please contact us as a matter of urgency.
We are a responsible lender that helps and help people within the community. We provide a friendly and professional service allowing customers the peace of mind to be able to openly speak to us regarding any issues they may be experiencing.

Our team will always work with you to improve the situation and we can arrange payment holidays or a revised repayment plan based on a new income and expenditure assessment.
However, failure to work with us will result in an outstanding debt being transferred to a Debt Collection Agency or result in court action.