Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
If you’re looking for a loan, it can be difficult to choose the right kind of loan for you. There are lots of different types to choose from, and on top of that the language and jargon can be complicated. So, to help you out, we thought we’d write a blog telling you a bit more about our loans, as well as some things to consider when taking out a loan in general.
So here’s what we offer in a nutshell. We provide online loans of between £200 and £1250 which you can repay over 3 to 12 months (depending on how much you borrow). The online application form for our cash loans is simple and straightforward and you’ll receive a quick initial decision. Loans are funded three times a day on Monday to Friday. If you've applied after 3.30pm, your loan will be funded at the first funding time on the next business day.
If you apply before 9:30am, your loan will be transferred before 11:30am. If you apply before 12pm, your loan will be transferred before 2pm. If you apply before 3:30pm, your loan will be transferred before 5:30pm.
Simple enough right? We think so. We’ve tried to make it as straightforward as possible to get the cash you need, but we also take lending very seriously.
We know that you might be able to borrow more from other places, but we focus on small, straightforward loans for those times when you need a helping hand – like a sudden unexpected bill, because they always seems to happen at just the wrong time don’t they? New customers can borrow up to £600, and existing customers could borrow up to £1250.
It’s important that you consider how much you really need to borrow when taking out a loan. Make sure you’re not overstretching yourself or taking out more than you need – it might sound good in the short term but in the future you might struggle with your repayments.
You also need to consider how long you want your loan for. A cash advance loan from Dot Dot is different from some other types of loan as you're borrowing money for a shorter period of time – our loans are repaid over 3 to 12 months (depending on how much you borrow). The length of your loan will affect how big your repayments are, so it’s important to think about what’s best for you.
Because Dot Dot is a responsible lender, we try our best to help you with all this and we conduct credit and affordability checks as part of each loan to ensure that you won’t get yourself into difficulty. We’ll look at all the information you give us about your situation and make a decision based on what we think you can afford. With a Dot Dot Loan you’ll only be lent the amount that is most suitable to your circumstances.
A few more things to know about us - our interest rate is fixed, there are no hidden charges and what you agree to repay is what you will pay. Plus – we’re a friendly bunch and we have a UK based call centre if you need to get in touch (which we encourage you to do if you have any questions).
Hopefully this has helped you to understand a little more about our loans - if they sound right for you apply now.