You can apply to borrow a loan of £1,000 through Proper Finance’s comparison site, simply fill in our online application and receive a decision instantly.
Proper Finance allows you to look for a range of financial borrowing values, all to fund a variety of different things. You can borrow under, over, or precisely £1,000 to fund numerous different situations that require extra financial support.
To start your application with Proper Finance today, please click the button below. Our application process takes 5 minutes to complete, and you could receive funds within an hour of completion.
What Can I Use a £1,000 Loan For?
The nature of what you intend to use the £1,000 funds for will determine what type of loan you apply for. We work with some of the leading lenders in the country to provide you with the best possible options available.
Below is a list of some of the main loans you can find through Proper Finance:
- Personal loan (£1,000 to £35,000) – typically used to fund lifestyle purposes, including home improvements, buying a new car, consolidating debts, and even paying off a wedding.
- Peer to peer loan (£1,000 to £35,000) – lenders of peer to peer loans are effectively the middle man, helping to connect borrowers to those who want to invest in lending by providing loans and accruing profit from these loans via the interest. Like personal loans, peer to peer loans can be used to financially support numerous different lifestyle factors; including home improvements, buying a new car, consolidating debts, and paying off a wedding.
- Guarantor loan (£500 to £10,000) – great for those who are struggling to get a loan due to their poor credit history, a guarantor loan allows an applicant to receive funds, secured by a guarantor who agrees to be financially responsible for the repayment of the loan if the borrower is unable to stick to the repayment plan.
- Unsecured loan (£50 to £25,000) – an unsecured loan allows you to access funds without having any of your valuable assets secured against the loan. This minimises the risk of losing any of your valuable assets (i.e. a property) as a direct cause of failure to make repayments on said loan.
It is important to evaluate your current financial situation and determine the type of loan you require before starting to apply for any of the above loans.
Knowing your financial situation, and furthermore what loan will best suit both your current and long-term needs is vital to ensure you find a loan that best suits you.
What Are The Benefits If I Borrow £1,000?
There are numerous different benefits to borrowing £1,000 through Proper Finance. As previously mentioned, we work with some of the leading providers in the country, meaning that any loan you find through our site will be from a trustworthy and secure provider.
Applying with us is also more time and cost-efficient than seeking advice from a financial advisor or visiting your local bank to apply for a loan.
Our online application takes 5 minutes to complete, and you will receive a decision on this application instantly. When applying to borrow £1,000 through Proper Finance, you can also receive funds either the very same day, or in some cases in as little as an hour, after completing our online form.
What Is the Criteria to Borrow £1,000?
As you can borrow £1,000 with various different loan types, the criteria for applying may vary significantly. For example, those applying for unsecured loans will typically need to show credit-worthy details, such as a good credit score, and a healthy history with past borrowing.
However, those applying for guarantor loans may not need to meet the same requirements. In fact, guarantor loans are often used by those with bad or non-existent credit scores, using their guarantor to provide security to the lender that the loan will be repaid.
Whilst eligibility criteria may vary, some of the main requirements most lenders will ask for include the following:
- You must be over the age of 18
- You must be a UK resident
- You must have a working phone number and email address
- You must have a working debit account
Can I Borrow £1,000 If I Have Bad Credit?
If you have poor or bad credit, it can sometimes be harder to be approved for a loan. However, we work with a range of lenders who are willing to look at all different types of applicants to assess what might be the best course of action for them. Even if your credit is less than perfect, you can still be considered for a loan. You might be more likely to be approved for a secured loan meaning that you would secure the loan against your car, home or other item of value. Additionally, you may be subject to higher interest rates for your loan if you have bad credit.
How Do Repayments Work?
Depending on your personal financial circumstances and the agreement that you make with the lender, you could repay the full amount back in a month or set up regular payment instalments of equal amounts until the total value is paid off. There is always the option to pay back the full amount early if this is what you prefer.
Can I Receive the £1,000 on the Same Day I Apply?
Yes. Once approved, you can usually receive the funds within 24 hours.
Why Borrow £1,000 With Proper Finance?
Once you have decided the best type of loan to fit your current financial needs, you can apply for a loan simply by clicking the green “apply now” button below. You can apply for a loan of £1,000 through any of the following loan types:
- Personal loan
- Unsecured loan
- Peer to peer loan
- Guarantor loan
We want to help our customers find the best loans for them in the most cost-effective way possible. This is the reason why there are no upfront charges when filling in an application with us. Our comparison site is free to use, and our application process quick and easy to fill out.
Check eligibility and apply for your loan of £1,000 today.