We are a UK based responsible lender, with local financing and no extra fees.
Response Funding Limited is a U.K. based direct lender that offers short-term loans to those with immediate needs for funds. We offer a quick and easy loan application process with the fees and terms clearly presented upfront. Upon approval, you may be able to receive the money you need on the same business day. Individuals with a poor credit score may qualify for our personal loan products. If you have a sudden need for cash, we encourage you to apply online today!
What is an Unsecured Loan?
An unsecured loan is where the lender provides the loan without requiring collateral, also known as a tangible asset. They are unlike secured loans because an asset is provided by the borrower as a security to the lender to ensure that the borrower will repay their loan. Unsecured loans are considered to be a greater risk for the lender and will typically result in higher interest rates. If a borrower defaults on the loan balance, the lender does not have any assets to take to recoup their loss.
Examples of unsecured loans include personal loans obtained from financial institutions such as credit unions, banks or other online sources. The majority of credit card and student loans are unsecured. Business loans may be either secured or unsecured depending on whether a personal asset must be used as collateral. Two common secured loans are those for cars and homes. If the borrower fails to repay the loan amount, the lender may repossess the vehicle or reposes the home.
Why Consider an Unsecured Loan?
Borrowers may apply for a personal unsecured loan from Response Funding Limited even if they have a limited credit history or past credit problems. These individuals may be unable to qualify for lines of credit, credit cards, or other traditional loan options. Those that have been denied loans elsewhere should consider applying for an unsecured loan.
Many borrowers have an immediate need for funds and most traditional loan options take more time to process. Borrowers may use a same-day loan to prevent an eviction, utility disconnection, or handle an emergency home repair.
Benefits of an Unsecured Loan
Our loans can provide you necessary funds straight into your bank account much faster than other options. The application process may be completed 24 hours a day from the comfort of your own home. Unsecured loans do not require collateral and you may be approved if you have verifiable employment. Our personal loans do not involve any long-term commitments.
The loan terms and fees are always clearly disclosed to you in advance—with no surprise fees. Your personal information is protected by our secure and confidential web platform. Our borrowers are able to avoid costly brokers fees or middleman commissions because we lend directly to you. The repayment schedule of your loan will be more flexible than most high interest credit card loans. Your repayment dates are the same dates that you are paid by your employer. You will have a full three months to repay your loan. Our loans are generally a better option than pawning your possessions as well.
What are the Requirements for an Unsecured Loan?
- Those applying must be adult citizens
- Documentation is necessary to prove current employment or another source of regular income
- You will need to have an existing bank account capable of processing funds electronically
- Our underwriting staff considers all applicants according to the FCA Information guidelines
- Applicants may receive a maximum of £125 on their initial loan
- Our daily interest rate is 0.8% with a representative APR of 1304.41 and an annual fixed rate of 292%
- Our loans have a repayment term that does not exceed a period of three months
- Our short-term loans products are not appropriate for those who are not currently employed or experiencing long-term financial difficulties
Unsecured Loans Featuring Online Approval in the U.K.
Apply Online Today
Those facing unexpected car repairs or a debt consolidation may qualify for our short-term loan products. We are an established local lender that is properly authorised and licensed to quickly offer approved funds. We invite you to complete our easy application process to get started today.