Lendable Ltd is a hassle-free online platform set up for the average person to easily borrow money when in need. They provide fast and easy solutions for your money problems.
Founded in 2014 they have been providing hassle-free ways to borrow money in a secure and trustable way with the help of technology. Their new state of the art website assists with you getting all the information you will need to be able to apply a loan for yourself.
They are a direct lender which means that they will lend you the money on their terms and you are in direct contact with them. No third party is involved in providing you with the loan. It brings forth for you an essentially contactless process for applying for a loan. All you require is an internet connection and basic computing knowledge to be able to apply.
The process cannot be as simple as that. They also update and debug their website regularly to avoid any difficulties in browsing the website so the customer can have a painless experience. Lendable also offers highly sophisticated and institutional investors to come forward and invest in consumer loans through their platform and experience a broader consumer base.
You can easily apply for a loan whether it is for a home remodel or a car repair or maybe to fulfil a lifelong dream or a sudden urgency that requires immediate funds. Lendable is the perfect solution because it provides loans to the average individual without any extra work.
No need to wait days for a decision or get roughed up in queues at the bank, you can sit home and apply on your computer without even having to get dressed.
They offer fast decisions where you can get approved and have money transferred into your account in a matter of minutes.
They will help you receive a loan with as low of a representative as you can get depending on your circumstances. You can go on to their website and get an online quote which will enable you to get an estimate of what they have in store for you and then you can make an informed decision.
They also have friendly customer support that is available for you to call in case you have any queries or doubts about the process. They will guide you in the right direction and help you get the best deal available for you. There are also no upfront charges or any extra fees for applying for a loan.
Lendable also brings a great opportunity for investors who want to invest their money in something that is secure and hassle-free where there is no risking or any disadvantage of losing money.
They are a dependable and trustworthy platform that provides the perfect opportunity for an institutional investor to put their money in for a better profit.
Considering investing in consumer loans can be a great way to invest money in a low- risk offer that provides great returns. This can be a great opportunity to earn money on pre-existing funds that you are not really using at the time and beat out the idea of a savings account. This way you get a much larger interest than even the best of savings account interest can offer.
You also do not need a hefty amount of money to invest. This type of investment offers flexibility when it comes to it because even a small amount of capital can be invested to earn great returns. This way you are not at any risk of losing large amounts of money, and you will still be able to earn some profit at the end of it.
Applying For A Loan With Lendable
Applying for a loan with Lendable can be a fast and simple process that does not require you to gather up any additional documents or fill out long application forms.
The short and easy to understand online application form asks you basic information and personal details that will help them with necessary checks they need to make on you.
The Lendable website is very easy to manoeuvre and applying for a loan is made easy. All you need to do is simply login to their website; there you will have the option to get a quote on what you can expect with your choice of an amount up to £20000.
Once you have made an informed decision and are ready to apply simply go at the top right corner and open the menu to click on apply now. There you will see a very short and to the point application form that you will need to fill out.
This form asks you for your personal details such as your addresses, contact information, employment information, your work address and contact, your employer’s name and what industry you might be working for. You will also be required to mention your monthly income and bank details to be eligible to apply.
The form filling process takes less than 10 minutes, and you will get a live quote where you will be able to choose the amount you need to borrow and the duration of that loan. After you are approved which will be communicated to you and you accept the offer funds will be transferred to your account within a matter of minutes.
- You are required to be a legally consenting adult that means you need to be 18 years of age or older. This avoids any lawsuits and legal difficulties for the company in the future.
- You need to be a resident of the UK, so any laws or regulations are applicable to you and the lender under the law. It will also be easier for them to make any check they need to make in order to approve your application and successfully grant you a loan.
- You need to have an active current UK bank account, so the lender can make sure you do not have any pending credit and get a credit report on you easily which is a necessary process to get approved.
- You need to have a UK debit card which will make it easy for you to withdraw any funds that are transferred to you and will also help us track your monthly income and make sure the loan you are applying to take out can be managed by you.
- You need to have a regular monthly income of an amount higher than the amount of loan you applied for. This ensures you will comfortably be able to pay off the loan in a matter of instalments that are communicated to you in your agreement prior to taking out the loan.
Lendable is a UK based sight and are headquartered in London. They are regulated and authorised by the (FCA) Financial Conduct Authority. They are a Private Limited Company, registered in the United Kingdom under company number 08828186. They are their registered office at 128 Shoreditch High Street, London. E1 6JE
As a part of their application and approval process, they may make identity checks, Fraud checks and credit checks on you. They can also obtain a credit rating on you from the credit reference agency that they use.
They may also carry out anti-money laundering checks on you. Disability to pass any of these checks may lead to disqualification of your application or rejection.
The loan agreement that you receive will clearly mention any fees that will be added to your loan amount that apply to your loan.
Investors that are willing to invest money need to be either professional investors or representatives of a company, partnership or trust. You can also be a sophisticated self-certified investor. You can also contact them for further queries via email at [email protected]
- Lendable is an online platform that allows you to have a contactless and paper free application process. This is great especially for people who are not willing to physically go down just to apply. Online applications also allow them to cover a larger area and anyone can essentially just have access to apply.
- Online quotes are also available for you to get an idea and make an informed decision about how much money you are eligible to take out. You can also choose the duration of your loan, and an instant APR will be available to you.
- Lendable has short and easy to fill an application form that will only take a few minutes to fill.
- The decision process is fast and painless, and you will able to get a decision very soon.
- The online account helps you manage your money easily, and the monthly payments make paying off the loan a hassle-free process.
- They offer low representative APR and low-interest loans that you can afford and easily pay off.
- Taking the online quote will not damage your credit history in any way.
- They provide you with investment options so you can earn some profits on any extra money that you have lying around.
- The customer staff is friendly and available for you to call if you have any queries or to clear any doubts you might have regarding your application.
- Missing a payment can cause you to have serious money problems as interest on the outstanding loan amount will keep on adding as you miss the payments and then paying off the loan will become very difficult. It will also have a bad effect on your credit score.
- Getting rejected for a loan may cause a negative effect on your credit report. This will put you at the risk of rejection of any future loans that you might want to apply for.
- They do not have a large range of loans with different representatives and interest or fee policies, so you are not at the liberty to choose what type of loan you want to apply for.
- They do not provide guarantor loans which mean that if you have a poor credit report, you are more likely to get declined and will not have the option to add a guarantor to your application to improve the odds.
How much can I borrow?
You are eligible to borrow anywhere from £1000 all the way up to £20000 depending on your circumstances and your creditworthiness. These loans can be spread across over periods ranging from 1 to 5 years.
Can I pay my loan off in full?
You can pay off your loan in full at any time during the agreement time in full without any extra charges imposed on you other than the interest that will be added to your outstanding loan amount.
You can do this process online by clicking make repayment at any time and entering the amount you want to overpay. This amount will be deducted from your account through direct debit.
Can I get a loan even if I don’t have a perfect credit rating?
You are eligible to apply for a loan if you meet the above-mentioned criteria. They have basic eligibility criteria for your credit report that includes that you are paid regularly at least £800 per month. You also cannot have any CCJ’s, and you should be a resident of the UK for the past 3 years.
If you pass all these points, then you may have a better chance of approval. You can go fill out their short form which will take only a few minutes, and you can get a personalised quote, and this will not affect your credit score.
Can I borrow more even if I have already taken a loan from a lender?
You are eligible to take out another loan with Lendable, and it will be considered separate from the other if you have paid at least 20% of all existing loans. You will also have had to pay at least 6 months of instalments successful to be eligible to apply for another loan.
What if I change my mind about a loan?
When you have taken out a loan with Lendable, you have 14 days cool-off period. This means that if you feel like you have made a mistake and want to cancel the loan, you will be allowed to do so and pay us back the amount in full with no additional fees or interest attached to it.