stmWould you like to learn some guaranteed approval methods to apply for Likely Loans? You’re at the right place. This article features how to apply for Likely Loans successfully. Keep reading!
Likely Loan is an online platform where you can borrow money whenever you need financial support then pay back at a stipulated period of time with interest. The main purpose of likely loan is to simplify and personalize borrowing.
Many people have had challenges with borrowing money in the past and are left excluded from mainstream banks. And because of this, Likely Loans was launched in 2014 to ease people from the stress of borrowing and have been helping people with their borrowing needs ever since.
How The UK Online Lending Company Works
There are different ways Likely Loans partner with their customers – here’s just a few:
- They provide a simple online application which tells you if you’re eligible for a loan before you apply, this feature is made available so your credit score won’t be affected.
- They use advanced technology such as Open Banking to ensure what you’re applying for is affordable.
- They make sure that once your application is completed and accepted, you get your money in the bank the next working day.
- They also offer great digital services so that you can manage your loan how you want to anytime of the day, this includes live chat, and many other personalized solutions for you.
Here Are The Guaranteed Approval Methods To Avoid Being Declined By Likely Loans
It’s quite easy to apply for a personal loan. All you need do is fill in your basic details correctly and submit online to get approval. However, this fast application process does not guarantee your loan approval, because your lender (likely loan) will verify your application before approving it.
There are some certain factors that could make your lender decline your loan application. These factors include;
1) Applying with Low Credit Score: A high credit score has a better chance for getting loan approval. A credit score of 750 and above will get fast approval.
2) Submitting incomplete documents: Always pay attention to the loan guidelines and ensure you review your application in order to be sure that you are submitting the right document.
3) Not having a steady source of income: Avoid applying for loan when you have switched jobs, if you have a steady job and a steady source of income, the higher chances you get for your loan application to be approved.
4) Not matching other eligible criteria by likely loan: There are other eligibility criteria for likely loan, such as your age. Also, read the terms and conditions of loan before applying.
How Much Can I Borrow From Likely Loan?
Likely loan offers a range of loan options, from £500 loans to help you manage your financial needs such as payment of expected, or unexpected bills, to £5,000 loans to help pay for home improvements or loan consolidation.
What Is The Loan Tenor And Interest Rate Of Likely Loan?
Likely loan has a loan tenor of 12 months, 24 months and 36 months. The higher your loan tenor, the higher your interest rate. Your interest rate is dependent on your individual circumstances.
Interest Rates ranges from 39.9% Annual Percentage Rate (APR) to of 89.9% Annual Percentage Rate (APR) for loan terms of 12 to 36 months.
For example; If you’re borrowing £2,000 for 24 months tenor at 59.9% APR and Interest rate of 59.9% p.a. (fixed) your monthly repayments is £131.05 and your total amount payable is £3,145.20. This example is just an illustration, when you get a quote your interest will be different.
Final Words On Likely Loans
Likely Loans offer a wide range of loan options. If you’re in need of short term loans or you want a personal loan spread over a longer loan tenor, they could have the right fit for your needs.
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