Borrow £500 with Our Affordable Loans

Borrow £500 for a range of different purposes. Fill in an online application and explore suitable loan options - no upfront fees, no impact on your credit score.

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Find great £500 loan options through Forces Compare. Our partners work with direct lenders who can offer temporary finance for numerous different purposes.

Simply click one of the “Get Started” buttons on this page and be taken to an online application form. This form can be completed in a matter of minutes, after which you’ll be presented with a list of different potential options to borrow £500 with.

Find £500 loans to suit your borrowing needs with Forces Compare today.

Representative Example: 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

 

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Why Borrow £500 With a Direct Lender?

There are many different reasons why you might consider borrowing £500 with a direct lender. While some may have alternative options to borrow £500 with – be this a family member, a close friend or savings – others may instead decide to take out a loan with a lender.

A direct lender, as the name suggests, will deal with your application directly, assessing its details, making the final decision on whether or not to lend, and transferring funds to successful applicants. With direct lenders, there’s no middle man, which can make the borrowing experience itself more straightforward.

 

What Can I Use a £500 Loan For? 

You can use a £500 loan for various different purposes. Some borrow £500 to help them finance home improvements, or to consolidate debt. Other popular reasons for taking out a £500 loan include:

  • To fund unexpected emergencies (such as a broken boiler or car repairs).
  • To keep up with any payments required before pay day (see payday loans)

It’s important to only take out a £500 loan for valid reasons, including the necessities listed above. Carefully consider the reasons you are taking out a £500 loan before applying with lenders.

 

person-on-ladder-making-home-improvements

 

How Do I Apply for a £500 Loan?

When applying for a £500 loan, you’ll have to provide a few details about yourself. This can typically including the following:

  • Your name.
  • Your date of birth.
  • The amount you’d like to borrow (£500, for example).
  • How long you’d like to borrow the loan for.
  • Your employment status.
  • Your income.
  • Your contact details and address.

Through your application, lenders will want to see that you can afford the repayments on the loan. The less risk you prove yourself to be, the most likely a lender will accept your application.

It’s also worth noting that the application details can also vary depending on the loan and the lender you choose to go with. For example, those applying for a guarantor loan will also have to provide details of the guarantor during the application process – which differs from other, no guarantor loans.

Before applying for any loan, it’s firstly important to explore and compare your options, and pick the option that best suits you and your personal circumstances. Forces Compare can help you to explore great options on £500 loans. Simply click on one of the “Get Started” buttons on this page to start your online application and explore suitable loan options.

 

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Eligibility Criteria for a £500 Loan

As with the application process, the eligibility criteria can also vary considerably. For example, those applying for a guarantor loan will have to meet requirements for both the main borrower and the guarantor. For secured loans, eligibility criteria can also focus around the valuable asset the applicant wishes to use as collateral on the loan, including the value of the asset, and proof of ownership.

While eligibility criteria can vary, below is a list with some of the general requirements for applicants:

  • Proof of employment.
  • Proof of stable income.
  • 18 years of age or older.
  • UK resident.
  • Owner of a current account.

As previously touched on, one of the main things lenders will often be looking to see is whether you can afford the loan repayments. Demonstrating this through proof of stable employment and regular income, as well as other supporting details, can help to increase your chances of approval.

 

Why Apply With Forces Compare?

While originally set up for the armed forces, who can often find it challenging to access good deals on their insurance options, Forces Compare strives to also help veterans and civilians find great deals on insurance and finance.

Our partner works with direct lenders for bad credit, keeping the lending process simple and straight forward. You can explore available loan options by clicking one of the “Get Started” buttons and filling in the online application. This application takes only minutes to complete, after which you’ll be provided with a range of different suitable providers to explore.

Explore £500 loans with Forces Compare today.

 

Key Features

  • Borrow £500.

 

  • Early repayments available.

 

  • Borrow a loan with no guarantor necessary. 

 

  • No impact to your credit score.

 

  • No upfront fees.

 

 

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