Our Lenders
We work with trusted brokers to give you access to a panel of leading lenders well placed to meet your needs at the lowest rates.
Are you in the process of trying to apply for a guarantor loan, peer-to-peer loan, personal loan or a bridging loan, but looking for guidance as to the best one to choose? Proper Finance can help you, and we do not charge any fees for our loans and the expertise we provide when helping you to find the best loan for your financial circumstances.
We take pride in making sure that we help our customers find the most suitable loan option available to them so that they can start taking steps to get back on track with their finances. Want to find out about what our team at Proper Finance can do to help you find a no-fee loan? Check out our guide below to find out everything you need to know about the services we provide, so you can decide as to whether making an application with us is the best option for you.
What fees are charged?
As we have previously mentioned, the Proper Finance comparison website does not charge any fees for those who use our services. This will always be the case, meaning that no customer using our site will ever have to pay fees for just making an application, or using the website at all. However, if you do take out a loan with one of the lenders, then you will be required to pay fees directly with the lender.
Interest fees
As you are borrowing money from one of our lenders, you will incur interest on the loan was taken out. This is charged by our lenders, at a maximum of 0.8% per day, so you can calculate as to whether or not you can afford to take out the loan in the first place by already knowing that there is an interest fee cap in place, which was implemented by the FCA.
Default fees if your loan is late
There are additional fees you may end up having to pay for a loan taken out through one of Proper Finance’s lenders. For example, you may have to pay default fees if your loan repayments are late. The exact amount you will pay will depend on the lender in question. Therefore, to avoid unnecessary extra fees, make sure it is financially viable for you in order to take out a loan in the first place, as you do not want to end up in an endless cycle of debt.
Early repayment fees
If you have a large secured loan or wish to exit an unsecured loan in the first month, then you will need to take into consideration early repayment fees that you may be charged directly by one of our lenders when taking out a loan. Again, the exact amount that would need to be paid (if it at all) will depend on the lender in question. Check this information beforehand if you believe it could be likely, or you have the intention of, making early repayments on your loan prior to making an application, to be sure that it makes financial sense for you to get a loan.
What is the criteria for applying with Proper Finance?
The exact criteria may differ between lenders, but the overall eligibility factors include:
- Must be a UK resident;
- Must be over 18 years of age;
- Must have a working debit account, email address & phone number;
- Must be employed, earning at least £500 per month and able to afford monthly repayments;
- Must have no history of bankruptcy, CCJs or IVAs.
What checks are carried out for no fees loans?
If you decide to opt for one of our no fee loans through Proper Finance’s loan providers, then there will be checks that will be carried out when you making an application.
Credit checks
Soft searches will be made on your credit file when making a loan application through our website. No need to fear: this will not affect your credit rating. A soft search will disappear from your credit report soon after you have applied
Affordability checks
Affordability checks will also be carried out when you apply for a no-fee loan. These are checks on your income vs expenses and what you can afford. This is to ensure you are able to get a loan and make repayments without getting into financial difficulty.
How can I apply for a no fees loan?
Having read our guide and now being clued up on everything you need to know about the no fees loans that Proper Finance provides, are you looking to make an application? The process is quick and easy to carry out. All you need to do to get a quote is simply click on apply now, and you will be able to make an application today, all from the comfort of your own help! We look forward to being in contact with you and helping you towards a better future.