Personal Loans Quote
How do you turn a quote into cash?
A personal loans quote isn't binding: the lender makes an in-principle decision which means that they will lend you the promised sum if certain conditions are met. Some lenders will ask to see copies of your payslips, and if you're self-employed you may need to provide copies of your accounts.
There's a big difference between a personal loans quote and the lender's final decision: a personal loans quote is based on the information you give to the lender, but many lenders will want to check that you're not exaggerating your income.
When you apply for a personal loans quote the next step is to complete printed application forms; in some cases the lender will also ask for proof of your income such as copies of recent payslips or if you're self-employed, copies of your accounts. This is to reassure the lender that you're not claiming to earn a higher salary than you actually receive, for example by including irregular payments such as commission or overtime that can't be guaranteed every month.
In most cases lenders' sites will give you details of any important criteria before you actually apply for your personal loans quote, so for example if they won't lend cash to anyone under 21 or who isn't in full-time employment then this will normally be stated at the beginning of the quotation process.
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