Help and Advice from Moolr

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Technical terms and confusing jargon can be confusing when you’re looking for a loan. Here we try to make things a little easier for you.

Monthly Repayments

Here at Moolr, we have a panel of lenders that have made it their priority to offer affordable, simple loans for amounts ranging from £500 to £5000, with fixed monthly repayments over a 1 to 2 year period at APRs of 35.9%, 79.9% or 99.9% 3.

With a fixed schedule for repayments, it allows you the opportunity to budget appropriately, and also to assess without confusion any loan offered to you. Your monthly payments (from £98/month) are fixed for the duration of your loan.

How do I decide on the length of the loan?

To work out what suits you best, you need to decide on the amount you wish to borrow, then work out using Moolr’s handy finance calculator the repayment schedule that suits you. The calculator will give you a guide as to your monthly repayments over a 12, 18 or 24 month period 3, the total amount payable and the interest rate. Check the options and find one that you are confident fits with your budget.

A lender will always check for affordability on an application form, as it is in no one’s interest for a customer to struggle with repayments.

A mixed credit history? We could help.

By finding loans that are repayable over a 1 to 2 year period, we aim to fill the gap that exists between bank loans that are off-limits to those without a good credit score and the shorter-term “payday” loans, which require quick repayment at high interest rates, and are being heavily restricted currently by the financial authorities.

Moolr is regulated by the Financial Conduct Authority. You can confirm our registration on the Financial Conduct Authority’s website.

Representative example: Amount of credit £1,500 for 2 years. Interest rate: 71.3% pa (fixed). 24 scheduled monthly payments of £118.88. Total amount repayable: £2,853.12. Representative APR 99.9%.

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