A pre-approved loan offers an immediate way to find out your eligibility for a loan and how much it will cost without any obligation to proceed or damage to your credit score.
You will be required to fill in your basic details through an online form and you will typically receive an instant decision saying whether you have been ‘pre-approved’ or not and the terms of the loan.
A similar phrase is that you get a ‘conditional offer’ which is approved subject to further checks including credit checking, proof of employment and bank statement.
At All Purpose Loans, all our loan offers are ‘pre-approved’ allowing you to check your eligibility over hundreds of different financial products and loans in the UK. Our application form takes just a few minutes to be complete and will give you an instant decision and a list of suitable lenders on the screen. To get started, simply click on the button below:
Quick decision: A pre-approved loan can often give you a quote much faster than a traditional application. The form usually asks for some simple, yet important information including the amount you would like to borrow, how long for you, your monthly income and expenses. This is sufficient to provide you with an instant quote for your loan. All Purpose Loans will use its technology to match your details with the lenders most likely to accept you – and you have the option to proceed with the one you like the most.
No impact to your credit score: The danger that many consumers have is that every loan or credit card application they make could be subject to a hard credit search. Whilst it is normal to have a handful of credit searches on your credit record each year, having too many in a short space of time can sometimes look financially desperate and be a turn-off for many prospective lenders. However, pre-approved loans are typically soft search, so your credit data is briefly checked but the search footprint vanishes soon after the application.
See the cost of your loan: A pre-approved loan can give you an indication on the cost of your loan, taking into consideration the amount you would like to borrow and how long for. This can help you plan, budget effectively and find the most suitable loan for you. All Purpose Loans will usually give you a few options, so you can narrow down the results and compare personal loans.
No obligation: There are no fees for using a pre-approved loan checker and there is no obligation to proceed. Instead, you are in control if you would like take the next steps and proceed with the loan.
Your information will be filled in on our online loan application and you will be required to provide the following information:
Most of the lenders we work with are looking for a regular monthly income because it suggests that you can afford to make repayments each month. Taking your monthly expenses and debts into account is important to determine how much you can borrow and ensure that you are not overdrawn or given funds that you cannot afford to repay.
All Purpose Loans offers a pre-approved loan using our soft check eligibility checker. All applications are completed online and are available for quotes 24 hours a day, 7 days a week – you simply need access to the Internet by desktop, mobile or tablet to make an application.
We have spent years building up partnerships with the most trusted and reputable lenders in the UK. Our service is able to analyse quotes from the whole market of lenders, helping you get all the quotes in one place and the best rates for your requirements.
To get started, simply click on the apply now button below. There are no fees for applying and we will not pass on your information to any other companies or lenders without your permission.