You are here: Home - Credit Cards & Loans - News -

Moneyfacts launches pre-approved loans service

0
Written by: Emma Lunn
03/10/2019
Moneyfacts.co.uk has partnered with Loans Warehouse to run its a pre-approved loans service.

The service allows users to enter their personal details and immediately see specifically which lenders they are eligible to apply with – all without impacting their credit score.

Moneyfacts said the new service features a range of lenders, all of which can meet the needs of a variety of borrowers and circumstances.

A pre-approved loan means a lender has offered you a loan, pending full approval. They will have completed some checks to establish you are eligible for a loan but not gone as far as a full credit score. This protects your credit score as you don’t need to make multiple applications to check which lenders will consider your loan application.

However, you should note that pre-approval is not a guarantee that you will be offered the loan. The lender carries out further checks and it is possible that your application could fail on these or if the information supplied for pre- approval is incorrect.

Michelle Monck, head of digital at Moneyfacts.co.uk, said: “This new loan service gives our site visitors the chance to complete an easy application process and immediately see which lenders would accept their application. This will save our visitors time in searching for a loan and prevent their credit score from becoming adversely affected due to multiple loan applications. “

“We chose Loans Warehouse to provide this service due to its high levels of customer service and years of experience in helping borrowers find the right lending product for their needs.”

Matt Tristram, founder of Loans Warehouse, said: “We are delighted to have been chosen to support a brand as respected as Moneyfacts. It’s a great endorsement of what we are trying to achieve in the personal loan space with the right balance of technology and customer service.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @DomWrong: UK avoiding a recession but it will be harder to grow if the rest of the global economy slows according to @ArtBLondon on @Yo
  • RT @HendersonRowe: “Brexit aside, the UK will struggle to expand if the rest of the global economy is slowing down. After a strong July and…
  • RT @HendersonRowe: “Brexit aside, the UK will struggle to expand if the rest of the global economy is slowing down. After a strong July and…

Read previous post:
50 years of the 50p shows the benefits of regular investing

Investing 50p a day since the 50p coin was introduced in 1969 would have made you a multi-millionaire.

Close