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Proper Finance offers you the possibility of getting a soft search loan that allows you to apply for a loan or get a decision, without that then impacting your credit score. This can be a particularly great option for you if you are concerned about your current credit score if it happens to be in bad shape at this moment in time but you are taking steps to improve it. Interested?
You can click on apply now to get started, the application takes 5 minutes and you will receive an instant decision on the screen. If you are looking to find out further information on soft search loans prior to applying, no problem: read our guide below so you can make sure that you have made an informed decision prior to making a soft search loan application with our Proper Finance team.
What is a soft search on your credit file?
A soft credit check is carried out by companies in order to obtain certain information from your credit report. These are usually carried out in order to determine how successful your loan application would be prior to carrying out a hard credit search of your credit history.
The fundamental thing to remember with soft searches is that these are not visible to other companies. They have no bearing on your credit score or have any impact on future credit applications you made decide to make. It is only you who will be able to see them on your credit report, and it makes no difference to your score as to how many soft searches are on it.
How is this different to a hard search footprint?
A hard search footprint is different in a number of ways to a soft search credit check, and it is vital that you know the difference between the two.
A hard credit check is when a business decides to conduct a full search of your credit report in order to determine your eligibility for a loan and your ability to be able to keep up with your repayments if granted finance. Every single hard check carried out is recorded on your report, unlike soft searches. That means that any other companies that are searching your credit report will also be able to see these on your file and that you have applied for credit.
One of the most fundamental aspects of a soft search is that it will not leave a permanent footprint on your credit report which could end up affecting your chances of being accepted for credit in the future.This can have a harmful effect on your credit score. Too many hard search footprints look bad on your credit file, as it can appear that you seem desperate for finance if there are a number of applications made within a short period of time. Too many hard credit checks can also impact your credit score for around six months, which can also reduce your chance of getting approved for further credit in the future. However, they do get removed after 12 months.
Essentially, the more credit applications you decide to make, the more hard checks that will be visible on your credit report, and that can have a bigger impact on your overall credit score.
Why would I want a soft search loan?
The soft search loans that Proper Finance can help you to find, in collaboration with a large number of reputable lenders we work with, can be beneficial to you in a number of ways, especially if you are concerned about your credit score but still are looking to gain access to finance. For example:
You can check your eligibility
One of the biggest advantages of a soft search loan is that it allows you to check your eligibility without committing to a loan, meaning you can only take on what you can afford, and without the pressure, you may feel when looking at other types of loans.
It does not impact your credit score
Crucially, you can apply for a soft search loan without this having a negative effect on your credit score. That means you are free to check your eligibility, without having to worry about what effect this has on your credit score. This can be particularly advantageous if you are already concerned about your credit score.
It is free to apply
Best of all, you can apply for a soft search loan with Proper Finance without having to pay any upfront fees at all when making an application. Our website is always free to use.
How to apply for a soft search loan with Proper Finance
If after reading our guide you have come to the conclusion that applying for a soft search loan is the right choice for you, then applying for it with Proper Finance is simple! Start your application today simply by clicking here.