As seen in:
If you borrow £550 over 6 months at a flat rate of 207.6% per annum (fixed) with a representative 1013.3% APR you will make 6 monthly payments of £186.82, repaying £1120.90 in total. Loan term lengths from 1 to 60 months.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Forces Compare is on-hand to help you borrow £1,000 and find the finance that’s right for you.
We have built up years of experience working with the armed forces, but those who don’t serve can also benefit from financial products we compare.
We help you find financial products including those for:
- Debt consolidation.
- New cars.
- Home improvements.
You can apply for a loan with our trusted partners, even if you have bad credit. The financial products offered by our specialist lenders accommodate for those with fair and bad credit scores, as well as those with CCJs, those in the armed forces, veterans and civilians.
Why Would I Need to Borrow £1,000?
People need to borrow money for all sorts of reasons, like funding a new car or replacing a broken boiler.
When looking for the right finance through Forces Compare, it’s important to establish exactly what the money will be used for, as this can help you find the finance option that best suits your needs.
Why Apply With Forces Compare?
Forces Compare can accommodate a wide variety of borrowers, including those in the armed forces, veterans and civilians.
We also compare financial products for people with varying credit scores, helping those who need finance to get it, regardless of their credit history.
We also proudly display the Armed Forces Covenant, expressing our commitment and dedication to those who have served in the armed forces.
We help individuals from all walks of life to get the finance they need when they need it, accommodating for a whole range of unique circumstances, including those in the armed forces and beyond.
Types of £1,000 Loans
Our lenders offer a variety of different loans for £1,000, including personal loans. Personal loans can be used for numerous different things, whether it’s to cover monthly bills, pay off existing debts, or make home improvements.
Forces Compare can help you find personal loans of up to £25,000 to be repaid over a period of 18 to 36 months.
Our lenders also offer guarantor loans, often used by those who have a bad (or non-existent) credit history. With this type of loan, the borrower will have a guarantor that agrees to keep up with the repayments if the borrower defaults.
Through Forces Compare, you can find loans from £500 to £15,000 to be repaid over a 12 to 84 month period.
Which Type of Loan is Right for Me?
The eligibility criteria will be dependent upon the type of finance option you go for and the lender you choose to go with. Criteria can include, but is not limited to, the following:
- Holding a UK bank account.
- Being a UK resident.
- Having a salary from the MoD or your employer.
- Being over the age of 18.
Types of £1,000 Loans
The eligibility criteria will depend on the type of loan you apply for, as some financial products require borrowers to meet additional criteria.
For example, if you are applying for a secured loan you will have to have an appropriate asset to secure against the loan, such as a house, a car, or valuable pieces of art.
Before applying for a loan, it’s best to assess your financial situation, as this can have a big impact on the type of loans you will be accepted for.
For example, those with bad credit will be more eligible for guarantor loans and other specific products that accommodate for this type of borrower.
What Information Do I Need to Apply?
You’ll need to provide a few personal details during the application process. These details will vary depending upon the type of loan you are applying for, with some requiring more pieces of information than others.
Some of the main details you will need to provide include:
- Your full name.
- The loan amount.
- Your date of birth.
- Your address.
- Monthly income.
- Monthly expenses.
- Bank details.
Depending on the loan you are applying for, you may also be asked to give proof of address, proof of income, or proof of ownership over a valuable asset.
Again, this will vary from loan to loan, meaning it’s important to read up on the details required from you before starting the application process.