Who is CashLady?
CashLady is a credit broker, not a lender. We work with a panel of lenders who offer short-term personal loans between £100 and £10,000, with repayment terms from 3 to 60 months, depending on the amount you apply to borrow.
Why choose CashLady to search for your £700 loan?
- Our credit broking service is free to use.
- We’re authorised and regulated by the Financial Conduct Authority (FCA).
- Our online form is straightforward and should take no longer than five minutes to complete.
- All quotes are no-obligation.
How long can I borrow £700 for?
CashLady can search for a £700 loan with the following repayment terms:
- 3 months
- 6 months
- 12 months
A longer duration allows you to spread the cost of the loan, although it’s important to bear in mind that the longer the term, the more you will pay in interest.
What do I need to do to apply for a £700 loan?
When applying for a £700 loan, you should first make sure that you meet the lender or credit broker’s eligibility criteria, as this can vary from company to company.
You can use CashLady to search for a £700 loan if you:
- Are over the age of 18;
- Are a UK resident;
- Have a UK bank account with a valid debit card; and
- Have a regular source of income paid into your bank account.
£700 loans for bad credit
CashLady welcomes people with all credit scores to search for a loan.
Some of the lenders on our panel specialise in bad credit loans and are willing to consider applications from people with all credit scores.
If you are approved for a loan of £700 with bad credit, you might find that your loan offer is at a higher rate of interest. You may also find that it might not be possible to borrow the exact amount of money that you’d like. A responsible lender will want to make sure that a loan is affordable for you before deciding whether to make an offer.
Things to consider before you apply for a £700 loan
Before you go ahead and apply for a £700 loan, you should ask yourself the following questions:
- Have I carefully considered the cost of the monthly repayments?
- Will making the monthly repayments leave me with enough money to cover my essential outgoings, such as food, utilities, and rent?
- Do I need this money now, or can I save up for a few months instead?
- Do I understand the risks of making a late repayment or missing one altogether? Am I aware of the negative impact this will have on my credit score?
How to search for a £700 loan with CashLady
- 1. Have a look at the £700 loan repayment durations and choose one that’s right for you. Our online form should take no longer than five minutes to complete.
- 2. We’ll use soft search technology to look at your financial history and we’ll scan our panel of lenders for a £700 loan match.
- 3. If we’ve found a loan, you’ll be redirected to the lender’s website, where you can find out more details before deciding whether or not to make a full application. Take your time to think this through carefully.
- 4. If you decide to make a full application with the lender, a hard search will be carried out. A hard search will remain on your credit file for up to 12 months and will affect your credit score.
- 5. If the lender is satisfied with the outcome of their checks, they will send you a loan agreement. You should read through this carefully before deciding whether to sign and return.
I need £700 now; when will my money be sent?
While we understand that you may need to access money quickly, it’s important not to rush into a credit agreement. You should make sure you fully understand the terms and conditions of your loan offer; and that you’ve done your sums and you’re confident you can comfortably afford your monthly repayments.
If you’ve done your research and decided to make a full application, you’ll probably be wondering when you’ll receive your loan.
If successful, your £700 loan could be sent the same day as your application is approved; however, exact payout times can vary, so check with your lender directly for more information.
You should also bear in mind that the time it takes for the money to become available in your account will depend on your bank’s policies and procedures, such as if they accept Faster Payments.
Can I get a £700 loan with no credit check?
No, £700 loans with no credit check are not available from any of the lenders on the CashLady panel.
When you apply for a loan with a responsible lender, an affordability check will be completed as part of the application process; this may be in the form of a hard credit check or an open banking search. These checks are in place to protect you and ensure that you’re being treated fairly.
Lenders authorised and regulated by the Financial Conduct Authority (FCA) will never offer a loan without conducting an affordability check first.
I was approved for a £700 loan but can no longer afford my repayments. What can I do?
While this situation may feel daunting, please try not to panic. Make contact with your lender as soon as you can; they will be able to discuss any options that might be available to you to help ease the pressure.
If you’re experiencing money worries, you can seek confidential advice through charities and organisations such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.