Fast Secured Loans
Loans for people who need money in a hurry
Not all lenders offer fast secured loans: some firms will only offer an in-principle decision, which means that you'll still have to wait a few days to sort out the paperwork. Even the firms that offer immediate decisions often charge extra if you want the money within 24 hours.
Lots of lenders promise instant decisions, but that doesn't mean they offer fast secured loans. Many of the promised decisions are only in principle decisions, so for example if you get an in principle agreement from an online bank you'll then have to wait for them to carry out credit checks and send you paperwork – which you have to sign and return before you can get your money. In some cases, even the in principle decision can take a few days – especially with smaller lenders whose Web sites are little more than email forms.
In practice, fast secured loans will take a few days to arrange. Look for lenders that offer immediate in principle decisions and who promise to send the necessary paperwork immediately by first class post – or even better, who let you print off the necessary paperwork yourself. That way, you can have the paperwork signed, sealed and delivered within a day or two. Many firms also offer to send your cheque by overnight courier for a small fee, although if you choose to transfer the money electronically it will usually take three days to clear.
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