How can instalment loans help the ones who are in bad credit?

The way to improving your credit score is making timely repayment of the debts. If you prove that you can repay back the debts, your credit score will improve. But, it is unfortunate to learn that the situations where you can prove your repayment ability are limited. Those who have a poor credit score, they feel stuck up and find themselves in hopeless situations. They think that there is no way to improving the credit score. It is great to learn that a lot many lenders offer instalment loans to help the defaulters make repayments of past debts to improve their credit profile. If you wish to improve your credit profile, you need to find some lender to offer you instalment loan. But, know this thing that the loan amount is not free money since you need to pay it back along with the interest amount. The only way you can find an attractive deal is by looking for a loan broker.
 

When will the bank offer you instalment loan?
 

It is difficult to secure 12 month loans from a financial institution if you have a bad credit score. You need to prove to the bank that you have a reliable and continuous source of income and can repay back the borrowed money. It is only then that the bank will lend you money. Banks and other financial institutions set certain income limit and if you fall within that limit, the bank will lend you money. Apart from proving that you are much above the minimum threshold of income, you need to present your home address proof and show that you are more than 18 years of age. The bank will also need you to provide a guarantor for the loan. The guarantor needs to show you in a positive light and only then the money will be granted.
 

How to improve your financial profile?
 

The best option would be applying for instalment loan and clearing off your debts. On the other hand, the bank may ask you to increase the overdraft facility or apply for some personal loan. Before you choose any of the options, you have to consider your situation and needs. You have to consider how much you can repay back and how long will you take. If you are just looking to improve your credit score, you may borrow a small amount of money and start repaying back your debt. Missing repayments will seriously impact your credit score.
 

What are the other options for securing a loan?
 

Seeing your financial score and financial condition, the bank may reject your loan application. If it turns down your loan request, you may look for other options. You may find a loan broker to help secure a loan. If the loan application has been rejected once, you must directly move to a loan broker for the loan.
 

Loan broker UK is the easiest way to secure instalment loans to clear off your debts. He may help improve your credit situation.

The most important advantages of no guarantor loans

There are a lot of people who are not aware of the fact that it is actually possible to seek loan approval without the presence of a guarantor. Previously, this was not the case. People who wanted urgent cash in the past were required to submit their loans applications only when they had a guarantor’s signature on the form. This is the reason why there were very few options for loan seekers. However, things have changed for the good and now it is possible for individuals to get loans even if they do not have a guarantor. Yes indeed, it must be believed that there are many lending organisations that offer no guarantor loans to people. These are loans where only the main borrower needs to sign the loan application. It is always a good thing to analyse the benefits and the drawbacks of such loans prior to starting with the application process.
 

Why are No Guarantor Loans Better than Guarantor Loans?
 

Providing a guarantor for a loan always comes with several advantages for the borrowers. Borrowers have the chance of securing large funds along with guaranteed approval on their loan applications. With guarantor loans, the main benefit fetched by the borrower is that he or she is able to get loans at very low interest rates. However, the most important thing to note in case of guarantor loans is that they are not the perfect loans for handling financial emergencies. Guarantors should take up the responsibility of making the loan repayments in case the borrower fails to do so. Finding a reliable guarantor might take in a lot of time and therefore urgent financial requirements cannot be met through guarantor loans. On the contrary, loans bad credit no guarantor comes wills several advantages and we will have a look at them below:
 

Loans with Flexible Terms
 

The loans available without a guarantor come as one of the best opportunities for people to improve their financial condition. This is mainly because these loans come with flexible policies and terms. There are same opportunities available for the unemployed individuals and the people with poor credit. Perhaps, flexible lending policies and terms are the results of the increasing demand of such loans throughout the market.
 

No Obstacles for the Borrowers
 

When people tale the help of brokers for getting these loans, they hardly face any problems or obstacles. Brokers have the time and the ability to choose the best deals for their clients and that too without expecting anything in return for the services that they offer. The guidance that comes from the brokers helps in easing the burden and the pressure that the borrowers need to go through. Getting loans without a guarantor becomes a trivial thing for the borrowers mainly because they do not need to deal with the lending organisations directly. The brokers work on behalf of their clients fetching the best deals for them within a very short span of time. Bad credit rating is also not a major concern for the borrowers once they take the services of a broker.

Beware of common mistakes doorstep borrowers make

The doorstep loans make for a popular borrowing choice among those who need flexible cash advance loans for very short period. Whether you need a quick emergency loan or funds for gap fill arrangements, doorstep loans provide an answer to almost all types of borrowers.
 

They bring convenience to your door. As the name suggests, these loans are delivered to your home. As you raise a query for doorstep loans, the loan agent visits your home and guides you through the process. The loan agreement is set only after reaching a mutual agreement between the borrower and loan agent. These loans are expensive loans and should only be chosen as the last resort.
 

Bad credit rating and doorstep loans
 

Doorstep loans come with lesser hassles for bad credit borrowers. However, at times, lack of knowledge makes things more difficult for the borrowers. Whether you need a very urgent loan or raising a doorstep loan for a gap fill arrangement, it is important to set your expectation right.
 

From self-employed individuals to bad credit borrowers, many rely on doorstep loans for the sheer flexibility they get with these loans. You can choose the loan amount, loan rate and loan period during a face to face interview with the loan agent. After the mutual agreement, the loan terms are finalised. The same loan agent would reach you for loan disbursement as well as reimbursement.

Before you opt for a loan it is important to know certain popular mistakes borrowers make while choosing doorstep loans.

1. While comparing doorstep loans never compare the APR %. It is one of the common mistakes people make. Being small loans, it is unlikely to use these loans for 12 months. Most people raise doorstep loans for a few weeks. Thus, while comparing the deal make sure you do not compare the annualised percentage rate. The comparison would be misleading.
 

For example: Let’s say Mrs Leena wants to borrow £200 as a doorstep loan to complete a purchase for her daughter’s birthday. She is confident of repaying the loan next month after she gets her salary cheque. She doesn’t want to use her current funds as she is planning a party and thus she decides to borrow. Herein if Mrs Leena compares it with another short term loan, the APR % of the doorstep loan might appear too high. But as she decides to borrow for only 3 weeks, she might just be paying £45. Thus it is important to weigh your decision according to your personal requirements.
 

2. It is a myth that all doorstep lenders are loans sharks. When you contact a legitimate lender via an authorised broker, there is the least risk involved. A loan shark would make a first point of contact with you and would promise tall favours. However, a legitimate broking company would help you assess your credit situation and share deals after assessing your repayment capacity. They never make the decision for you but help you make a fair decision. You can contact a broker online. As you make the first contact they follow up and share the available deals.

The best way to improve your financial situation with 12 month loans

Do you have bad credit and are in need of cash? If yes then the solution is available with one of the many loan brokers in the country. These loan brokers can help you get 12 month loans in spite of having bad credit. A 12 month loan is a short term loan and has to be repaid within one year. If however, for some reason you are unable to repay the loan on time, then you can approach the loan broker and they will act as mediators between you and the lender in order to find a solution that is mutually suitable.
 

Why lenders provide loans to people with bad credit
 

As mentioned above if you have bad credit then you should approach a reputable loan broker. These loan brokers have tie-ups with many specialist lenders. These specialist lenders do conduct a credit check because it is mandatory according to the regulations of the Financial Control Authority. However, they do not take your credit score to be the only decisive factor for approving a loan. Instead they look at other factors like your current ability to repay the loan. They analyse your income and expenditure per month and then decide whether you will be able to repay the loan. As a result it is possible to get 12 month loans bad credit no guarantor.
 

Loans for unemployed people
 

Just like the people who have bad credit and no guarantor, the loan brokers can also help you get 12 month loans for unemployed. Here you need to bear in mind that if you have bad credit, no guarantor or are unemployed then the lender is taking a higher risk by giving you the loan. This is the reason that they charge a higher rate of interest. However, if you apply for the loan through loan broker, then they will get you the loan at a reasonable and affordable rate of interest.
 

In spite of the mediation by the loan broker the rate of interest on such special loans is usually high. This is the reason that you should take these loans only if you really need them and in case of financial emergencies. It is not a good idea to use the money of these loans for frivolous expenses. In fact you should also be careful about the amount of loan that you take. In this case the financial advisers employed by loan brokers can come to your aid. They will analyse your financial situation and then advise you regarding the amount of money you should take as loan. In this way you will be assured, that you do not end up in a worse financial situation, than before.
 

The best part about opting for loan brokers is that you do not have to visit the physical office of either the lender or the broker. The entire process of application and approval is online and you can get the approval in as less as half an hour. Once the loan is approved then the money is also immediately transferred to your account. This makes the entire process very convenient and hassle free.

How do loans on benefits help the borrowers?

There are many individuals who have worries of being accepted or approved for credit. But these individuals are actually unaware of the fact that there are loans on benefits available for the ones who find it very difficult to get loans from banks. There are loan brokers and financial organizations that consider the loan applications of individuals who have poor or bad credit histories. These sources look at more than just the credit scores of the borrowers and assess all the applications based on the personal situation of the borrowers. There are loan brokers who can also help individuals in getting no guarantor loans or loans without guarantors for people on benefits. People who are not employed or the unemployed individuals generally need some cash for surviving and this is easily available through the loaning options found throughout the market for loans.
 

How can Loans for People on Benefits Help?
 

For the ones who are receiving benefits, investing in loans on benefits or some kind of an additional loan can be of good help. Such loans help the people on benefits in paying for different necessities. These necessities include furniture, clothes and food. The ones who have been on the receiving end of benefits for minimum 26 weeks have the eligibility of applying for loans for people on benefits. It is important to note that such loans do not have any influence of the remunerations of the borrower. The loan amount that the borrower is entitled to generally depends on several factors like whether the borrower has children’ the marital status of the borrower; the borrower’s reliability in terms of repaying the loan amount; the credit history of the borrower and the savings that the borrower has in place.
 

Getting the Loan
 

In order to qualify for a loan on benefits, borrowers need to be receiving the likes of income-based jobseeker’s allowance, income-related employment and support allowance or pension credit and income support. Such loans are generally paid in the existing bank accounts of the borrowers in the same way like a salary that is paid into the bank account of an individual. Borrowers can use the loan amount for paying for different everyday essentials.
 

How are these Loans Helpful?
 

Despite the fact that benefits are of good help, sometimes there are several payments that need to be made especially when individuals need to meet unforeseen expenditures. Both no guarantor loans and loans for people on benefits help the borrowers in making different payments like rent and in meeting funeral and maternity expenditures. Repayment of different debts like store cards and credit cards and home improvements can also be made with the use of these loans. Other specific areas that can be covered by loans for people on benefits include travel expenditures, educational costs and cost incurred in getting household appliances and clothing. It is necessary to get the services of a loan broker in order to get any type of loan. It is also essential to stick to a certain budget especially if you are looking to repay the loan amount within a specified time.

Understanding soft credit check loans

For financing an urgent requirement for cash, installment loans or short-term loans are probably the best solution. Unluckily though, getting this type of financial assistance from lending organisations or banks is generally very complicated. As a general rule, if the lending organisation or the bank decides to carry out a proper verification of the borrower’s past, things can get even more complex. Perhaps, credit checks can have a major influence on the credit score of an individual and therefore strongly reduce an individual’s chances of getting short-terms loans. Fortunately, in the present times this obstacle can easily be overcome by applying for soft credit check loans. So, what does this involve?

Are you in the Look out of Urgent Finance?

As is the case with almost any loan, it all starts with the requirement of financing. With soft credit check loans, it is the requirement for finance in order to satisfy a certain urgency that needs immediate financial response. To be more specific, borrowers can easily seek a loan by undergoing soft credit check that helps them in dealing with financial urgencies. Borrowers can get money for paying urgent bills for avoiding any kind of service disruptions or for paying rent. Additional penalties can easily be avoided by getting loans with soft credit check. Therefore, the main goal of such loans is helping individuals in getting funds at a very fast pace for covering immediate expenditures while saving the other financial resources of the borrowers for their current requirements.

Soft Credit Check is Completely Confidential

One of the most important principles of soft credit check money loans is that they can be granted to almost any applicant having enough income for guaranteeing repayment irrespective of his or her credit score. It is completely different from the credit check carried out by the lending organisations. Hard credit checks are credit checks that could result in obstacles for applicants when it comes to obtaining urgent cash. The applicants for the loans undergo soft credit check which is generally a formality. The lending organisations that are willing to offer soft credit check cash loans to borrowers generally take a certain risk for supporting the borrowers without depending on their adverse credit histories. To be very clear, there is absolutely no discrimination and borrowers can get loans even if they have very low credit scores. Moreover, as with any financial procedure, the privacy of the borrower is paramount. The financial and personal information of the borrower is kept and handled secretly.

Submitting an Application

Since you have an urgent need for money, the procedure of getting soft credit check cash loans is easy and quick. You can make this procedure even more effective and easier by taking the services of a loan broker who can help you out with the application submission and loan approval procedure. It is the broker who will evaluate your creditworthiness and have a clear understanding of your requirement as well. the broker will get you the loan in the most comfortable manner because he or she will have an understanding of your ability of repaying the loan.

5 Lesser known facts about homeowner loans with bad credit score

Are you struggling with incessant cash crunch? Is there no respite from anywhere? Is your credit limit already exhausted? Are you looking for fresh avenues to borrow and ease the crunch? Worry not, if you are a homeowner. With home equity, you are eligible to borrow homeowner loans bad credit.

A lot of online companies are willing to help you avail bad credit homeowner loans. Despite a current mortgage you can raise the second charge and borrow decent amount as a secured homeowner loans. The home equity acts as a collateral and you can borrow more at the lesser cost.

Just like property on collateral, balance equity on your home offers a loan security to lenders. In case of nonpayment or default, the lender can seize your property to cover up for its losses. However, when planned properly you can successfully repay the loan on time and meet all of your obligations.

Before you apply for a bad credit homeowner loan, Know 5 lesser known facts about homeowner loans:

1.    All purpose loans- You can use homeowner funds for multiple purposes. There is no restriction and you can use the funds for several purposes including debt consolidation, home improvement or buying a boiler and much more. All you need to do is apply online on a broker’s website for the amount you seek. And all the available loans would be introduced to you without a delay.

2.    Low-interest rate- Unlike other bad credit loans, the rate of interest for homeowner loans is not high. You can borrow up to a substantial percentage of your home equity. With bad credit worth, homeowner loans offer a good opportunity to borrow urgently at not so high rates. There are the least hassles or formalities involved due to the involvement of collateral.

3.    Lenders vs. Loan broker- Being a secured loan, you have more choice to borrow despite your poor credit rating. By contacting a loan broker, you are introduced with multiple deals. You can choose the one according to your repayment capacity. However, by contacting a lender directly you would be dependent on the offer on the plate. Brokers are professional in searching for tailored loans. So you should use the free broking advice from the FCA registered loan brokers and keep your stakes safe.

4.    Home improvement- By using homeowner loan for home improvement you can use the funds to add value to your property. By enhancing the value of your home you can reduce the burden of loan. Simple alterations such as renovating the kitchen and redoing outer walls can spruce up the look of your home. Likewise, adding an additional 3 piece toilet can add value to your home.

5.    Debt consolidation- Consolidating debts using homeowner loans is perhaps one of the most popular choices among the borrowers. Being a secured loan, it enables you to successfully consolidate your loans into a single affordable loan. The broker can help you draw with affordable instalments and thus you can ensure the successful repayment on time.

Quick loans or debt settlement- which you think is better?

Quick loans are fabulous financial provisions that help in generating quick money when you have an emergency cash needs. The money borrowed during the process may be used for any purpose. Quick loan fulfils your short-term cash needs without any delay. Money can be borrowed instantly. As the generations pass by, life is becoming very fast such that we end up spending more than what we can afford. Many find themselves in heavy debts, and thus they dive into the pool of loans. They need some way to clear off debts and pacify the lenders. If you are looking for a quick fix to get rid of your debts and make payment for the ones who helped you with the money, you may take a quick loan. Whether it is short term or long term, quick loan offers a great solution to get out of debts. Various banks help in getting a quick loan, but if your credit score is not good, banks will not lend you any money. If you want a quick loan in the UK, you may get services of a loan broker who can quickly arrange cash to help meet up emergency expenses. You may just opt for a quick loan, pay back your debts and improve your credit score.
 

Debt consolidation can hurt your credit score
 

You may be confused between quick loan and debt settlement. According to financial experts, the quick loan is far better than debt settlement as the latter can impact your credit score negatively. Although debt settlement lowers your debt, it also lowers your credit score. So, the option is not always good. A quick loan may be taken until the time of your next paycheck, and the best part is that you may even extend it further. It can help meet up short-term debt whereby you have control over the situation and are confirmed that the debt will be paid off. If it is a quick loan, you may avoid hefty penalties and late fines. There will be no trace of unpaid debt in your credit report.
 

When to go for debt settlement?
 

If the credit score is not an issue with you, choose debt settlement. But, it is again better to choose quick loan since debt settlement may get you out of debt but the result is always painful. The aftermath of debt settlement needs a painstaking and hassle-prone cleanup. If you are looking for a planned retreat, you must go for quick loans.
 

Situations when you should take quick loans
 

Quick loans UK are the best option if you need to clear off some emergency bill. It is the fastest possible way of gaining access to cash. Whether you want to repair your car, pay off medical bills, you may go for a quick loan. This type of loan may be availed within 1-2 days.
Whether you want secured loan or quick unsecured loan, it is wise to get in touch with a loan broker who can bring to you the best deals for Quick Loans.

7 Reasons why doorstep loans are popular choice among bad credit borrowers

Be it a bad credit history or an unplanned financial burden, doorstep loan is a handy source of additional borrowing for anyone who is reeling under credit issues. These very short cash loans are primarily used as gap loans by cash-strapped loan borrowers.

Whether you are residing in Manchester or Southampton, doorstep loans are readily available in the UK. However high APR% makes some question the practicality of availing a doorstep loan. Let’s find out why doorstep loans are preferred by people with bad credit score despite the high cost being attached to these home credit loans.

1.    Guaranteed Approval - Doorstep loans are tailored according to individual credit requirements. Irrespective of credit situation, these loans are readily made available to the applicants. To locate a reliable broker all you need to do is fill a form on a registered broker’s website. As they received your credit specifications, they will share the available offers from several lenders. You can choose the one that best fits your requirements.

2.    No credit check loans - Doorstep loans are literally door to door loans no credit check. When you contact a broker and select a doorstep company you could rest assured of loan approval. Any sort of credit check would not lead to loan rejection. In fact, the loan agent would use your history to make a repayment plan according to your affordability.

3.    Processing Convenience - Doorstep loans are processed right from your home. You need not visit any lender searching for a deal. The loan agent would personally visit your home and inquire about your preferences. They would make a loan agreement based on mutually agreed interest rate and terms. The loan amount would be handed over to you right at your home. The same agent would visit you for loan collection.

4.    Customised repayment plan - The loan agent discusses at length about your credit situation. You can choose repayment plan as per your ease. For those with severe financial troubles, delayed repayment plans are also available.  The convenience of choosing the repayment plan is something that makes doorstep loans a preferred choice among people with bad history.

5.    No need to disclose the purpose of a loan - Doorstep loans typically work like personal loans. You can use the loan amount for several cash lapses. The loan agent would not place a restriction on loan use. You can thus plan doorstep loans according to your needs.

6.    Cash fulfilment without hurting report - With doorstep loans, a person struggling with cash shortages get timely loan help. It helps them save further deterioration of credit report as no credit check is raised for further loans. Besides easy instalments ensure timely repayments which boost the credit worth.

7.    Not just a bad credit loan - There are least formalities attached with these loans. It imparts total convenience to people struggling with personal, social or medical issues, besides the financial lapses. So anyone who falls short of the adequate amount can resort to doorstep borrowing at any point in life.

How you can get 12 month loans for bad credit

Bad credit can affect you in more ways than one. First of all, it becomes impossible to get any kind of loans or credit from mainstream bankers and lenders. Then again even landlords and prospective employers check your credit score before either renting out their house to you or giving you a job. This is the reason that you need to be careful not to allow your credit score to get damaged. However, sometimes bad credit can be due to no fault of your own. Sudden layoffs and salary cuts are quite common and if you suddenly lose your job or face a salary cut, then your monthly income and expenditure graph can go quite awry. Now if you have bad credit and are faced with a financial emergency what can you do? The answer is easy – approach a good loan broker 

 

How loan brokers can help you if you have bad credit
 

All loan brokers are associated with a number of specialist lenders who do not take only your credit score and the factor for consideration while approving your loan. These specialist lenders are only interested in your current ability to repay the loan which is why they readily provide 12 month loans for bad credit to people who have less than perfect credit score. Of course, they are taking a higher risk hence they charge a higher rate of interest, but if you apply for the loan through loan brokers then there are more chances of getting the loan at a reasonable rate of interest. This way you can be sure that you are not required to pay an exorbitant amount in the form of interest.
 

What are 12-month loans?
 

As the name suggests these loans have a tenure of 12 months. You need to repay the loan in monthly instalments and the amount of the instalments will depend on the amount of loan you have taken and the interest rate. It is easier to repay the 12 month loans especially if the amount of loan you have taken is considerable. This is because some short term loans require you to repay the loan in a single lump sum of money, but with the 12 month loans, you have an entire year to repay the loan.
 

What to do if you have no guarantor?
 

Most of the lenders are ready to provide you with a loan if you have bad credit if you are able to provide a guarantor who has a good credit score and sizeable income. In this case, the rate of interest on the loan is also less. Essentially the guarantor signs an agreement saying that if you are unable to repay the loan then he or she will. This reduces the risk of the lender and due to this they also charge a lower rate of interest even if you have bad credit. However, you may not be lucky enough to have someone to vouch for you or it may be the case that you do not want to discuss your financial matters with anyone else. In this situation, you can approach a loan broker for loans for bad credit no guarantor. They will help you get the loan from one of the specialist lenders that they are associated with.

The best uses of short term loans for unemployed

Unemployment is increasing in the UK in spite of the sincere efforts of the government to make things better. Sudden layoffs and salary cuts are quite common and the economy of not just the country, but the entire world is in shambles. This is the reason that there are a lot of unemployed people in the UK. These unemployed people may have some source of income like benefits or a pension, but in a case of some financial emergencies they may need a financial helping hand and this helping hand is available with loan brokers in the form of short term loans for unemployed.

What are short term loans used for?

There is no particular definition of short term loans, but loans with a tenure of a few days to 3 years can be considered to be short term loans. These loans are usually used in case of financial emergencies like sudden home repairs, car repairs or medical emergencies which are not insured. At the same time, the unemployed people in the country have also despaired of the current economic scenario and are looking for alternative means of earning like self-employment and small-scale businesses. A short term loan can be used for funding these ventures.

 Things to keep in mind

Bear in mind that many lenders advertise loans for unemployed, but some of them are loan sharks out to fleece the unwary borrower. This is the reason that you really need to be careful while choosing a lender. The best way to protect yourself from unscrupulous elements is to approach a good loan broker for your loan. These loan brokers have associations with many lenders who are properly vetted for their method of operation. Only those lenders who adhere to the guidelines and regulations of the FCA are taken into consideration by the loan brokers. These loan brokers themselves follow the guidelines and regulations of the FCA to the letter. This is the reason that with loan brokers you can be assured to be dealing with legitimate and licensed lenders.

The other thing to bear in mind is that although with loan brokers you will be able to get short term loans bad credit no guarantor, these loans are special loans. The specialist lenders who provide such loans are taking a higher risk and therefore they charge a higher rate of interest. Of course, all kinds of debt should be taken seriously, but you need to be extra careful with these special loans because of their high rate of interest.

Why deal with loan brokers

The best part about dealing with loan brokers is that there are lesser chances of you taking a loan that you cannot afford. This is because the loan brokers have in their employ financial advisers who offer free advice and analyse your financial situation to help you decide the amount and tenure of the loan. This ensures that you do not end up taking a large amount as the loan which you cannot repay comfortably. If this happens then you can end up in financial trouble with serious damage to your already damaged credit score.

What you need to know about no guarantor loans

Usually traditional banks and lenders ask a loan applicant to provide a guarantor for the loan. This is especially so if the applicant has bad credit, he or she has to provide someone with good credit and a good stable income to guarantee the loan. In essence the guarantor agrees to pay the loan if the original borrower is unable to do so. This greatly reduces the risk of the lender and hence they are ready to give the loan. Even some of the modern specialist lenders ask for a guarantor if the applicant has a bad credit rating. However, if you apply for loans through loan brokers then it is possible to get no guarantor loans. This means that you can get a loan without a guarantor even if you have bad credit.
 

Why opt for a loan broker
 

Loan brokers usually protect you from loan sharks and other unscrupulous elements who are out there to fleece you. This is because they carefully vet the lenders with whom they form an association. They check whether the lenders follow the guidelines of the Financial Control Authority and are licensed to operate in the UK. AT the same time, they also ensure that the lenders do not charge a very high rate of interest, so that you can get affordable loans from them.

 

 

 It is also more likely for your loan to get approved if you approach a loan broker rather than approaching a lender directly. It is also possible to get special loans like loans for bad credit, loans for unemployed people on benefits and others. At the same time, the regular loans like personal loans, payday loans etc. are also available with them.

The best part about applying for a loan through a loan broker is that the entire process of application and approval is online and you do not have to leave the comfort of your home or office. There is no need for a face to face meeting with any representative of the lender as is the case with traditional lenders. Also the paper work is minimal and the process of approval is very fast. In fact, you can get approval for the loan in as less as half an hour, where the same procedure with a traditional lender might take days or even weeks. At the same time, the disbursal of the loan is also conducted within 10 minutes of the approval and all that from within the comfort of your home or office.

Can you get loans without credit check in the UK?

The answer to this question is no, because according to the guidelines of the FCA it is mandatory for a lender to conduct a credit check of the applicant before approving a loan. However, when lenders and loan brokers advertise no credit check loans no guarantor, what they actually mean is that the lenders in questions go soft on the credit check. At the same time, they take factors other than an applicant’s credit score into consideration when they approve a loan. When lenders provide such special loans they usually charge a higher rate of interest, but if you apply for the loan through a loan broker then it is possible to get loans at an affordable and reasonable rate of interest.

Get the loan you need without leaving your home – Doorstep loans!

You can get the loan you need to fund your business plan, pay for an emergency, or even to go on a vacation without leaving your home. Convenient doorstep loans are available for individuals to fulfil any need without straining themselves or their resources unduly. Even if you are on government benefits or unable to provide a guarantor for your loan, some brokers can help you find a loan at convenient terms. Some brokers specialise in negotiating doorstep loans for people on benefits or individuals without guarantor. 

Convenient Loan Solutions for People Who Need Them the Most

As most loans are available for highly creditworthy people who can flaunt a good credit score for lenders. Most lenders want to minimise the risk of non-payment in lending; which makes it difficult for people with adverse financial circumstances to get the type of loan they need. People who cannot offer loan collateral, there is no guarantor for their loan, and especially those who are receiving government benefits are unable to even find a lender. Even if they find one, the lender does not offer money with acceptable terms and conditions.

Services of a Broker are Essential

You need the services of a broker who specialises in providing loans to people based on their specific needs. They can help you get doorstep loans without guarantor, loans with low interest rate for people on benefits, long term loans with low monthly payments, short term loans with quick approval of cash, and many others. The advantage of taking doorstep loans is that you don’t even need to visit the lenders. Brokers negotiate convenient terms of the loan on your behalf and then the cheque is delivered to your home. No need to worry about even faxing the required documents!

A broker understands your needs as a person looking for funds and considers only your ability to pay back the amount. They know that credit score may have very little to do with a person’s ability to repay the amount they are taking. Brokers are adept at understanding the human element in lending and they can convince lending institutions about their clients. Of course you will need to convince the broker that you intend to pay back the amount that you are borrowing. Once you do that, an experienced broker is capable of finding the most suitable financial products available on the market to suit your needs.

You need to be ready with proof of your business plan or any other source of income that will open for you in the coming months or years when discussing your loan options. No adverse circumstance should hold you back from getting a loan if you are confident of making monthly payments on time.