29 April 2020

In personal finance, direct lender loans are loans in which money is lent to the borrower directly from the lender themselves, rather than going through a third-party or intermediary. This allows the borrower to avoid potential third-party loan brokerage fees and provides added confidentiality as the borrower’s details are not shared with any other companies during the loan application process.

A direct lender loan is ideal when your finance needs are time sensitive. With a direct lender like buffa, you can apply easily online and get a near instant indicative decision on your loan application, without the need for your details to be passed through or on to anyone else.

If your loan application is fully approved with a direct lender, there is also usually no waiting around for the loan to appear in your bank account, as money will be transferred within minutes of your application being completely accepted.

Direct loan application process

Applying for a loan from a direct lender is incredibly simple, although with both Buffa and many other such lenders, there are a few key-criteria which must first be met before you proceed to apply:

  • You must be over the age of 18
  • You must be a UK resident
  • You must have access to a UK bank account in your own name
  • You must have access to a debit card linked to your personal UK bank account

If you do meet these criteria, then you can apply for a direct loan from Buffa by following this process:

  1. Specify the amount you want to borrow and how long you think you’ll need to pay it back
  2. Provide us with the relevant information to assess your application, including contact details, income, regular expenses and bank account details
  3. We will then provide you with an immediate indicative decision. If you have been provisionally accepted, we will detail your full proposed repayment plan, including how much you will pay each month and for how long
  4. If we need to conduct some further checks regarding your application before we can give you a final decision, we’ll still let you know that’s the case immediately, as well as telling you if there are any additional details or documentation we need from you
  5. Once your loan application is fully approved, if you accept the terms and conditions of your loan offer from Buffa, the money will be transferred directly to your bank account, usually within a matter of minutes

We always try to ensure that the application process is simple to follow and gives you a final decision in as little time as possible – after all, our job is to make our customers lives a little bit easier.

So, if you want to apply now or in the future, just visit our direct lender loans page and get your application underway.