An unsecured loan is a type of personal loan where no collateral is involved. Instead of pledging assets or properties, a borrower’s loan is approved on the basis of their creditworthiness.
What is LoanTube? What is its role in the whole process?
LoanTube is a FCA registered broker operating in the UK. With state-of-the-art digital loan platform. It is a common platform that brings lenders and borrowers with the help of real-time loan quotation comparison.
Why should I choose LoanTube?
LoanTube is a FCA registered broker that compares actual APRs among multiple lenders which give borrowers a freedom to choose their own lender. Moreover, it believes in transparency and simplification of the process.
How can I apply and what happens after I finish applying for a loan?
Applying for a loan is easier, faster and simple with LoanTube. Fill out the required details in the form available on our website and wait for a few minutes for the decision. The decision will be shown to you on the screen instantly. Say bye-bye to the waiting time!
How much can I borrow?
The limits are set according to the standard guidelines by the financial regulatory body of the UK, FCA and it also depends upon various factors.
What is the legal age for applying for a loan?
The legal age for applying a loan is 18 and the borrower should be a resident of the UK.
How long does it take to get a loan?
After you fill out the available application form, we make an assessment based on the information provided by you and we aim to get your loan approved quickly. As quickly as possible.
How to decide which broker or bank to take a loan from?
We suggest you to always run a thorough check before applying for a loan. Compare the interest rates, tenure and terms, and conditions before choosing your broker.
Will LoanTube make a credit search on me?
Yes. A loan with credit check has always been the safest option. Hence, post an assessment of the credit history, the decision of loan approval will be given. And please note that running a credit check will not affect your credit history at all. Be assured!
Who do you lend money to?
LoanTube is a registered broker and not a lender. It deals with a wide network of regulated lenders who are ready to help those who want to rebuild their credit history or those who are in need of a loan.
We do not charge any fees. Yes. You read it right. LoanTube doesn’t charge any fees or has any hidden fees regarding loan application or any type of upfront fees. We do not even deduct any amount from the loan advance. Hence, an individual applying for a loan with us will receive the whole amount of the loan applied for.
How long do I have to wait after applying for the loan?
After applying a borrower has to wait for a few minutes to get the decision. The decision regarding loans doesn’t take much time and the result is shown to the borrower instantly on the screen.
How will my loan get approved?
LoanTube offers a platform where lenders and borrowers meet to fulfill each other’s need. Lenders use various parameters to select and approve a loan. These parameters vary from lender to lender. Some may approve your loan instantly and some may take time for reconsideration as well.
I have finished filling out my loan application, what happens next?
Once you complete filling out the loan application form, we will try to search for the best lender available on our platform to suit your needs and preferences. We will consider all the information provided by you to get you the best deals.
Do you offer a fixed rate loan or variable rate loan?
LoanTube offers loan at fixed APR which doesn’t change after the loan has been approved by the lender. The rate of interest will never fluctuate in case you are applying through us. We really work hard to make things transparent.
Where can all I use this loan amount?
This is preferential. The loan amount can be used to simplify finances, making home improvements, traveling or for treating any other financial emergencies. We have a varied range of loan for the convenience of our customers.
Can I choose my loan term?
Yes. You have all the rights to choose your own loan term. Depending upon the affordability and preference, an individual is suggested to choose the repayment term so as to avoid any negative impact on the credit history.
What are the chances that my loan application will be approved?
We suggest you check the credit report before applying for any loan. We request you to recheck all the information that you fill in LoanTube’s loan decision engine, in case you wish to check the eligibility for a loan through us. Further, if an individual has a loan already and they make regular payments, the loan requested gets approved.
I want a guarantee that the loan will be approved. Will LoanTube offer me that?
We clearly state that loan approval chances are very high. The lender checks every information filled by you in the application form and basis that information only, a decision is made.
How do you use the information provided by me during filling out the application form?
When you sign up for LoanTube, it will ask you for some basic information such as name, date of birth, email address, etc., in order to provide you with a borrowing power and credit history. We do not have any direct access or visibility of your personal data.
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