Short-term loans from Dot Dot

Do you need cash to cover an unexpected bill or other mounting costs? Emergencies crop up from time to time. Whatever your situation, short-term loans can help you recover and move on with your life.

With a trusted short-term loan direct lender like Dot Dot, you can apply online and get between £200 and £1,000 the same day. We offer a range of repayment terms and you won't need to worry about any nasty hidden charges either. Read on to learn how short loans work, whether you could qualify and how to apply.

What are short-term loans?

As the name suggests, short-term loans are quick cash boosts that are paid off within a short period of time. This is typically in regular instalments of up to a year. You can choose to pay yours back over three, six or nine months with Dot Dot depending on how much you borrow.

Just as you would with a long-term loan, you'll repay the loan itself plus a certain amount of interest. Short-term loans are usually designed to cover the kinds of costs that simply can't wait. Thankfully, they're also quick and simple.

You can apply for most short-term loans online relatively quickly and get an answer soon after. It could be just what you need to hear…

What can I use short-term loans for?

Are you in a sticky financial situation? From boiler breakdowns to dental problems and car trouble, bad things happen to the best of us. Sometimes several costs come around at once and put a strain on your finances. You could use a short-term loan to cover:

• Home maintenance bills, including boiler, washing machine or fridge replacements
• Car repairs, servicing or MOTs
• Other unplanned costs such as insurance renewals or medical bills

If you don't have enough spare cash for an emergency, you're not alone. Data from the Office for National Statistics (ONS) shows we're saving less of our income than we used to, while the Financial Conduct Authority (FCA) reports that loan applications are on the up.

It's normal to have money worries from time to time. Turning to a short-term lender like Dot Dot Loans could provide the relief you need.

Short-term loans vs payday loans

If you're searching for quick finance, you've probably come across payday loans. Different to short-term loans, they're designed to tide you over until you get paid and can also help cover emergencies.

Payday loans have gained a bad reputation over time, and there are key reasons why a short-term loan could be the better option. Whereas short-term loans let you spread the cost in instalments, payday loans usually require you to repay the full amount in one instalment.

With typically high amounts of interest on top, this can be tricky – especially as the Financial Conduct Authority reports that 67% of payday loan users are already struggling financially. Failing to repay could land you with late payment penalties that bump up your debt even further.

Repaying in instalments is likely to be more manageable. Keeping them up to date could even help you improve your credit score.

Our short-term loans also come with no risk of extra charges. But that's not the only reason to choose Dot Dot Loans.

Why choose Dot Dot Loans?

Even when money is tight, it's important to have full confidence in your decision before applying for a loan. Here at Dot Dot, we make things simple, clear and convenient – and will always make sure your choice is right for you.

Here are just five of the reasons to choose Dot Dot as your short-term loan lender:

• Quick: Apply for between £200 and £1,000 online in minutes. If we say yes, you could have it in your bank account the same day
• Flexible: Choose repayment terms of three, six or nine months to suit your situation. You can also pay your loan off early if you want to
• Honest: We'll agree all your short-term loan costs upfront, and will never charge you any hidden extras
• Responsible: We're a member of the Consumer Finance Association, and carry out robust credit and affordability checks to make sure our loans are manageable
• Recommended: We're rated 'excellent' by independent customer reviews on Trustpilot. People like our fast service, friendly staff, and simple process

We're owned by Morses Club PLC, one of the UK's largest personal loan companies set up over 130 years ago. We're a direct lender, so you'll always know exactly who you're dealing with. No surprises. Just quick and easy loans.

How do Dot Dot's short loans work?

Our short loans process couldn't be any easier. All our loans are unsecured, so you won't need to offer your home or other valuables as security. There's no need to find a guarantor either.

Simply choose how much you want to borrow and how long you need to repay it and go from there. You can use our short-term loan calculator to find out how much yours will cost before you apply.

If you decide to go ahead, our team will carry out credit and affordability checks to make sure you can afford the repayments based on your credit history, income, and outgoings. Don't panic – a less-than-perfect credit score won't automatically rule you out.

If we say yes, we'll agree all your loan costs upfront, then collect repayments automatically. You can also manage your loan online through our handy customer portal.

You can head to our FAQs or contact our friendly team if you have any more questions.

Is a short-term loan right for me?

Any decision you make with your money needs to be the right one for you. There are occasions when a short-term loan might not be the best option.

Short-term loans usually have higher repayments than long-term loans as you're repaying what you owe quicker. This can mean you'll pay less in interest, but if you need to borrow a higher amount or spread the cost even further you might need to look at longer options.

It's also not a sensible idea to take out a short-term loan to pay off another debt. Taking on more debt could make your situation worse. If you feel like you're struggling you can get free advice from National Debtline, StepChange or The Money Advice Service.

Do I qualify for a short-term loan?

We want to make fast and easy loans available to as many people as possible. You can apply for one of our short-term loans if:

• You're over 18 years of age
• You live in the UK and can give address details
• You're currently working
• You have a valid email address and mobile phone number
• You can provide bank account and debit card details

Your chances of being approved will depend on your situation. We review every application individually to make sure we lend responsibly and give you a loan that works for you.

How much can I borrow?

You can apply for a short-term loan of between £200 and £1,000 with Dot Dot Loans.

If you need a higher amount – for significant home improvements or a wedding, for example - you can apply for a long-term loan of up to £4,000.

How do short-term loan repayments work?

We offer repayment periods of three, six and nine months on our short-term loans depending on how much you borrow.

We'll collect repayments automatically on an agreed date. This will be through Direct Debit and will save the hassle of remembering to make payments – or the worry of forgetting. You can speak to us about arranging a different payment method if you'd prefer.

We understand that things change. You'll never be charged fees for missed or late payments but falling behind could affect your credit score. If you think you won't be able to make a repayment, for whatever reason, please get in touch as soon as possible.

Our friendly team will talk you through your options and help put a new plan together.

Are there any fees to worry about?

We don't charge any hidden or extra fees. Some short loan lenders do, leaving you with more to pay back and less chance of doing so. We keep things simple.

What's the interest rate on a Dot Dot short-term loan?

Our interest rate is fixed upfront and varies depending on how much you borrow. You may see other short-term loan lenders offering variable interest rates, which means they can go up and down from month to month. These can be riskier. While you might be able to afford the initial rate, this cost could go up and leave you out of pocket.

With our fixed interest rate, you'll always know exactly where you stand and how much to budget.

Apply for a short-term loan with Dot Dot

Has an emergency left you in a tight spot financially? Are multiple costs piling up at once? Whatever your situation, our quick and easy loans could be the answer.

Apply today using our short-term loan calculator. Choose how much you want to borrow and how long you'd like to pay it back, then check the loan works for you. If it does, select apply now to continue with your application and fill out a few personal details.

We'll get back to you as soon as possible, then take it from there. Simple.

Apply now