Application FAQs exactly just How quickly am I going to get my loan?

Application FAQs exactly just How quickly am I going to get my loan?

Loans are funded every hour between 9am and 10pm, seven days a week. If you should be authorized after 10pm your loan is likely to be funded at 9am the day that is next.

Simply how much am I able to submit an application for? Can I be credit examined once I use?

Clients can put on to borrow as much as ВЈ4000 straight through our internet site.

Being a accountable loan provider we always be certain you meet our financing requirements, and conduct credit and affordability checks for every loan.

Yes – every application we get is credit examined. Being a lender that is responsible constantly be sure you meet our financing requirements and conduct credit and affordability checks for every loan. Simply so that you know, the credit check will simply be noticeable on the credit report to many other loan providers you and you accept it if we make an offer to.

Am I able to determine if i am authorized with no credit search?

No – because we’re a responsible loan provider, a credit search is important to ensure that us in order to make a choice on your own application. Our initial search is supposed to be a’ that is‘soft, this implies it’ll be visually noticeable to you although not other loan providers and organisations. Whenever we make an offer for your requirements and you accept this, we are going to carry a credit application search out and also this are going to be noticeable on your own credit report to other loan providers. All applications are susceptible to a credit affordability and check evaluation.

Am I entitled to a Dot Dot Loan? Can I have to send in every paperwork?

Eligibility is determined by your personal circumstances, but to utilize you should be:

Over 18 years old (over 21 for long-lasting loans)

To accomplish the application, you will require:

Valid email and mobile quantity

Residence target details

Bank account and debit card details

In a few full instances we possibly may ask you for additional supporting papers.

Why should you validate my earnings? I’ve a bad credit history, could I get that loan?

Because we are a accountable loan provider, we constantly verify your revenue and expenditure to assist make sure any loan offer is affordable.

We make our choices for a full instance by situation foundation. We do not expect individuals to have perfect credit score so we just just take different criteria under consideration when it comes to a credit card applicatoin to make financing choice.

What are the results if my application is declined? Can a loan is got by me if i actually do maybe maybe not possess my very own house?

What this means is at this juncture we have been not able to give you that loan, as your application failed to fulfill our financing requirements. Should your circumstances alter, you are welcome to re-apply after 1 month.

You should not be considered property owner to obtain that loan from Dot Dot. We conduct credit checks and bring your earnings and expenditure under consideration and base our choice about this.

What exactly is the essential difference between a direct loan provider and a brokerage?

Dot Dot Loans is an immediate lender – what this means is us and, if approved, we’ll send the funds straight to your bank account that you can apply directly to. As opposed to provide you the amount of money by themselves, a brokerage passes your information on to parties that are third could possibly provide you with that loan that fits your needs.

Why have actually we been expected to submit supporting papers?

Sometimes we truly need additional papers to assist us to help make our financing choices. As an example, we possibly may require some more info to help your stated earnings and spending or could need you to definitely deliver us evidence of your ID. We always make an effort to keep these demands to at least.

Exactly just just What do i actually do if I do not get my loan?

Give us a call on 0333 240 6215 so we’ll have a look at the presssing issue for you.

I will be a customer that is existing am I able to submit an application for another loan?

As a current consumer, perhaps you are entitled to sign up for an innovative new loan with us once you’ve repaid your existing one. This is simply not a warranty, nonetheless, and simply how much you are in a position to borrow being a customer that is existing in your specific circumstances. To try to get a new loan, merely log on to the Dot Dot consumer portal to begin the job. You can register here if you haven’t yet registered for the Dot Dot customer portal.

What’s Open Banking?

Open Banking is a straightforward and way that is secure provide us with usage of your economic information through username and passwords Service Providers (AISPs). Open Banking and AISPs are managed by the Financial Conduct Authority (FCA) and must abide by data security legislation.

How come Dot Dot Loans utilize Open Banking?

We use information provided through Open Banking as an element of our credit and affordability checks, to make certain that we could make lending decisions on applications for example of y our loans that are long-term18 to 48 months). The solution we request you to consent to whenever trying to get a long-lasting loan permits us to see the data that seems in your bank statements and it is a paper-free method of sharing your earnings and spending information with us in order that we could thoroughly and fairly assess whether it is possible to manage to simply simply take a loan out. Moreover it eliminates the necessity for one to deliver bank statements, payslips or any other earnings and expenditure-related information to us. You need to consent to this ongoing solution in order to accomplish the application as well as for us to help you to help make a financing decision.