8 Best Direct Lenders for Personal Loans in 2022

When you need any type of credit then it is good to explore every available option. If you need to borrow a significant amount of money then a personal loan is the one on which you can rely. 

Usually, the personal loans are available in a bank or building society but now with the advancement, you will find many online direct lenders that will give you a personal loan. 

Direct lender loans do not require any type of guarantee which means that the payment will directly go to your bank account and you do not have to provide collateral to guarantee it. The given article provides you with the 8 Best direct lenders for taking a personal loan in 2022. 

1. CashASAP

CashASAP is one of the direct lenders that offers you different types of unsecured loans including personal loans. By using CashASAP you can borrow an amount ranging from £1000 to £25000. 

You can borrow the amount for 1 year to 7 years. If you have taken a personal loan from there then you have to repay 2 to 3 months’ repayment amount as the early charge. 

While selecting a lender you have to do some homework like finding the positive reviews but by using EasyPaydayLoan you will be provided with the best lenders. They have gained a lot of positive reviews on the internet. 

They also offer you a convenient way to access the loan type without any hidden cost. On the CashASAP the customer is limited to borrowing £400 if he or she is taking the loan for the first time. 

2. DotDotLoans

DotDotLoans is also one of the excellent direct lenders. From there you can take an online loan ranging from £100 to £1000. It also has gained a lot of positive reviews on the internet. It offers you efficient funding as every approved loan is funded every 24/7 hour. 

It does not charge you any type of hidden cost or fee. They are only providing UK-based customer service. You can also track your loan easily by using DotDotLoans online portal. 

You have to complete a simple online application and then within minutes, you will find out whether your application is approved or not. If your loan has been approved, the funding amount will be in your bank account within one hour. 

3. Buffa

Buffa is also one of the best direct lenders who provides you with short-term personal loans. You can borrow loans from £100 to £750.  Its official website claims that they can pay you the cash within 15 minutes of your approval. 

They do not charge any type of late payment fees to the customers. Additionally, they offered you to save the interest rate by repaying the payment early. By using Buffa you can borrow a personal loan ranging from £100 to £750. 

To get a personal loan from the Buffa you just have to complete an online application by providing some personal information and then you will get an instant result about the approval and within 5 minutes the cash will be in your account if you accept the loan. 

4. Drafty

Drafty is considered one of the best direct lenders especially if you have bad credit. By using Drafty you can borrow an amount ranging from £50 to £3000 with APR 89.7%. it also has gained a lot of positive reviews on the internet because of its fast decision-making process and no fees. 

You are allowed to apply here again and again even with a bad credit limit. If your loan has been approved by the Drafty then you will get a credit line of up to £3000. You are allowed to use as much as or as little as you want from it and you have to pay interest on what you use. 

It is also up to you for how long you want to borrow the amount. It does not take any type of late fees or early repayment fees. 

5. Moneyboat

Moneyboat is one of the reliable direct lenders that offer you loans ranging from £200 to £1500. You are also allowed to choose the number of installments depending on how long you want to borrow the money. 

It also has gained a lot of positive reviews because of its excellent services. The platform is totally safe and secure. That does not charge any type of hidden or added fee, you just have to pay a flat interest rate of 7% per day. 

6. Quidmarket

Quidmarket is one of the best direct lenders. They do not provide personal loans but they offer you alternatives to personal loans in the form of unsecured borrowing. Here you are able to apply for a quick loan to resolve the issue or fulfill the need instantly. 

By using Quidmarket you can take loans up to £1500 if you are an old customer and if you are a new customer then you are only allowed to take a loan up to £600. 

7. Everyday Loans

Everyday Loans is also one of the best direct personal loan lenders that offer you loans that will suit your credit type. You can borrow money up to £15000. It also has gained a lot of positive reviews on it internet. 

To apply for a personal loan you just have to complete a simple online application. Applying to this website will not affect your credit score. After your loan has been approved you have to go to the nearest Everyday Loan branch to sign an agreement. 

8. Credistar

Whenever you need to take a personal loan then you can rely on Creditstar’s direct Lender. It offers you to take a personal loan ranging from £500 to £5000. You can choose the repayment period from 6 months to 18 months. 

They offer you flexibility in your loan life. There are different products of Creditstar and you can choose them depending upon the type of features you want. They also do not charge you any type of hidden fee and the whole process is done on the online system. 

Cons Of Working With Direct Lenders

By working with the direct lender you have an edge of a seamless and clearer loan application but there are some disadvantages such as: 

• You have to spend a lot of money to search for the best lender as there are a lot of available options.

• Sometimes it becomes very difficult to compare rates, especially for the new borrowers.

• Direct lenders have strict regulations.

To avoid above mentioned cons you can choose an efficient online broker like EasyPayDayLoan which relaxes you and can do the work for you and all you need to do is just select the one from the list. 

Ending Remarks

To deal with any emergency financial crisis a personal loan is the most helpful way. There are many online working direct lenders that lend you money depending on their rules. The given articles provide the 8 best direct lenders on which you can rely.