Quick loans for life’s little road bumps.
If you’re suddenly faced with an emergency, then a quick loan can be the solution that keeps everything ticking over until you can get back on top. There have been times when we would all be grateful for access to a bit of extra cash. An unexpected house repair or mechanic’s bill can leave anyone short for the rest of the month. New Horizons gives you the ability to apply for this money in the shortest possible time and at the best rate for your situation.
Needing to find a loan quickly can be a daunting task, New Horizons does all the work for you, so you don’t have to.
As a reputable loan introducer, New Horizons do everything we can to assist people who need access to credit. We try to do this in a user-friendly way that is simple to apply for and completely transparent. If you’re looking for loans with bad credit, then you may have some questions about the process. Below we’ve tried to answer the most common questions asked by customers that use us to find bad credit loans.
Quick loan questions
Q1 – How long does it take for me to apply for a quick loan?
Q2 – Can I apply for a loan on my smartphone?
Q3 – How long will it take for me to receive the money?
Q4 – Are quick loans more expensive than regular loans?
Q5 – Can I apply for a quick loan if I have a bad credit score?
Q6 – Can I apply for a quick loan online?
Q7 – Do I have to pay a fee to get a quick loan?
Q8 – What amount can I apply to borrow?
Q9 – I have to repay a quick loan on my next payday?
Q10 – Can I repay a loan early?
Q11 – I need advice on my debts. What should I do?
How long does it take for me to apply for a quick loan?
If you’re trying to find a source of quick cash, then we appreciate there is probably a good reason. We’ve stripped away all the unnecessary parts and streamlined the application process as much as possible, meaning our customers often have money in their bank account in a matter of minutes of being approved by a lender.
The application process for a quick loan can take longer when you’re asking for a higher amount. The only other variable is your bank’s systems and processes, which we have no control over.
Your bank’s operations are one of the reasons we quote an average time of 15 minutes* to receive your money, although many customers do receive it quicker.
Can I apply for a loan on my smartphone?
Most modern smartphones have good security built-in, making smartphones a viable way to apply for your quick loan. Our website is also optimised to provide the best experience to mobile users.
It makes applying for a quick loan on your smartphone just as easy and user-friendly as using a desktop or laptop computer. Some people may have security concerns when using a mobile device. But if your mobile is a smartphone with the latest version of the manufacturer’s software, then the phone’s security should be more than sufficient.
How long will it take for me to receive the money?
If you’re trying to access additional funds because of an unforeseen emergency, then it’s essential to get the cash into your bank as quickly as possible. Every part of our process has been designed to minimise the time you have to wait.
Our user-friendly application process will provide you with an instant decision. Once your quick loan has been approved, our lenders get the money transferred immediately. From start to finish, this is typically complete in a matter of minutes. However, quick loans for more substantial amounts might take slightly longer to get processed. That’s why we quote an average time of fifteen minutes*.
Only your bank’s internal systems and processes are beyond our control. These can affect the amount of time it takes for the money to hit your account, but most modern banks have efficient systems, and the difference is usually minimal.
Are quick loans more expensive than regular loans?
Quick loans are mostly payday loans. When payday loans first became popular, they quickly earned a bad reputation for outlandish interest rates and unrealistic repayment terms. The unscrupulous lenders of these early days are long gone. Modern, reputable direct lenders are authorised and regulated by the FCA (Financial Conduct Authority).
The FCA sets out regulatory and ethical guidelines all direct lenders must follow, which offers consumers a more significant amount of protection. However, quick loan rates still look high compared to a conventional loan, mainly due to the short-term nature of this type of credit. It means a direct lender only has a short window to make a profit.
Quick loans can get considerably more expensive if you fail to make the agreed payments on time. If you think you may struggle to meet your next payment, you should get in touch with the direct lender immediately, as giving them warning shows you’re willing to resolve the situation.
This will help you to solve the issue together and stop the lender making any assumptions about your intentions, and probably cost you less than merely ignoring them.
Can I apply for a quick loan if I have a bad credit score?
Quick loans for bad credit are available. We have built a panel of lenders that offer a diverse selection of terms. We did this to try to ensure the maximum number of people have access to credit when they need it. We don’t think it’s fair to punish you for a mistake or poor financial management that has completed.
We are more interested in your current personal situation than what’s happened in your past. Quick loans for those with a bad credit report may have a higher rate of interest. This reflects the higher risk associated with bad credit loans.
A quick loan, paid on time, will help to improve your credit rating. The way New Horizons selects the best loan for you means you’ll always get the best interest rate available for your circumstances.
Can I apply for a quick loan online?
Quick loans are available online. Using the New Horizons website will ensure you get the best deal in a short amount of time. We are continually refining our online process to make it easier and quicker for our customers to access loans. Everything is designed to be fast and user-friendly, making it easier for you to get some extra money with a quick loan.
Please be aware that most quick loans are not intended for use as a long-term financial solution. They are specifically for those who need a great deal to help them out of a tight spot. We keep the urgency at the forefront of our minds when designing every aspect of our website and processes for quick loans.
Do I have to pay a fee to get a quick loan?
New Horizons does not charge a fee for the use of our services. Our panel of direct lenders are committed to transparency, so you will be made aware if there are any fees attached to your loan.
What amount can I apply to borrow?
For your convenience, you can apply for quick loans for any amount from £50 to £5000. You can choose a repayment term to suit you, depending on the amount you would like to borrow.
Quick loans, for more significant amounts, are paid back over a more extended period than smaller amounts. Failure to make repayments on time can cost additional fees and interest, so make sure you’re realistic with your repayment term and don’t overstretch yourself.
If for any reason you don’t think you’re going to be able to make a repayment, contact your lender straight away. They are much friendlier when you approach them with a problem and don’t merely ignore the issue. It also means a quicker solution is agreed between you, rather than the drawn out and costly process that can take place if you ignore them.
Do I have to repay a quick loan on my next payday?
Quick loans have some similarities to payday loans. They were initially called payday loans because the minimal amounts borrowed were treated in much the same way as a sub from an employer, just with interest. People would borrow small amounts to tide them over until their next payday when they’d repay the loan in full.
Quick loans have evolved to be a little more user-friendly since then. You can now select a broader range of amounts and repayment terms, depending on your unique circumstances. The exact duration of your loan will depend on what you agree to when accepting a loan. People borrowing a more substantial amount will usually opt for a more extended repayment period.
People borrowing smaller amounts will probably want to choose a shorter-term repayment period to minimise the interest. However, they should still be realistic and only accept a repayment period they can realistically afford.
Can I repay a loan early?
Quick loans can be paid back earlier than the stipulated period. How much money this saves you will depend on the specific terms of the loan. Some lenders reduce the interest to reflect the shorter time, while others might have a fixed amount of interest regardless of when you repay the loan.
All direct lenders regulated by the FCA (Financial Conduct Authority) must adhere to specific ethical standards, meaning they must be transparent. If you can’t find the information before accepting the loan, then ask the question. We’ll always be upfront and tell you where you stand.
I need advice on my debts. What should I do?
If you are struggling with your debts and require assistance. You can speak to the companies below, free of charge.