Soft search loans allow you to check your eligibility for a loan without damaging your credit score. You are required to provide some basic details online and choose how much you would like to borrow – and you will receive an instant decision on the screen with a pre-approved quote.
With a soft search loan, only the basic parts of your credit score are checked and rather than the mark staying on your credit file for up to 12 months, it gives the lender the information they need and then the mark vanishes immediately. So for those looking to protect their credit scores from multiple searches, All Purpose Loans offers a safe way to check your eligibility and keep your score safe.
Start your soft search loan application below and get a quote in less than 5 minutes.
Most of the lenders in the UK will carry out a credit check on your file before funding a loan. With access to your recent payment history for credit cards, loans or other liabilities, they can see if you have missed any payments or defaults and how this would affect your eligibility for a loan.
Every time the lender checks your file, they will leave a credit search footprint or a ‘mark’ to confirm that they have visited your account. This is a practical way to record how many lenders have looked at your file and you can receive alerts if you sign up to a credit file checker. When a credit search is made, it is either a ‘soft search’ or a ‘hard search’.
A soft search is one that checks some basic elements of your credit history, giving the lender useful information, but not leaving any mark on your credit file. Essentially, it vanishes shortly after. It is commonly used to check those individuals not directly involved in an application, such as guarantors, spouses and the other party of a joint bank account.
A hard search, however, stays on your credit file and remains there for 12 months. It is very normal to have a few hard searches but if you have too many in a short space of time, it can be detrimental to your credit score. This is because prospective lenders may think that you are financially stretched or too eagerly looking for finance, and they may be more hesitant to offer you a loan.
For this reason, many borrowers prefer to look for soft search loans, which will give them an immediate quote and also keep their credit score safe.
Applying for a soft search loan with All Purpose Loans is simple. Start by clicking on the ‘apply now’ button below and you will be taken to our online application page which can be completed in less than 5 minutes.
You will be asked to fill in some basic details including name, age, address, employment, monthly income and expenses. We will run a series of quick checks and with access to quotes across the whole of the market, you will receive an instant decision and list of quotes from the best personal loan companies in the UK.
You will be able to compare the rates, which have been tailored according to your loan requirements. We give you the control and flexibility to proceed if you wish – and you will just have to select your favourite lender to proceed.
Depending on the loan amount and type of loan you have selected (unsecured or secured), your application may require additional credit checks and proof of income and address. However, once successful, most of our customers receive their funds within a matter of hours or days. To begin, click on the button below: