If you have a bad credit rating and want a loan but do not want a guarantor loan you might struggle to find lenders. If you need loans no guarantor there is one way of increasing your chances of finding the perfect loan for your needs, with our help.
So let us take a look at the following:
- The benefits to us helping you to find a loan;
- Types of no guarantor loan that might be available.
How We Can Increase Your Chances of Finding a Loan
We can increase your chances of finding a loan without a guarantor as we work with a panel of lenders in the UK.
This means that once you have filled in your details we can then search with multiple lenders. Therefore, from one loan application, you can have access to multiple lenders. This means you do not have to keep applying with lenders yourself by making separate searches and the multiple searches are not listed on your credit file.
Different Types of Loans No Guarantor Needed
The lenders we work with offer numerous loan options, suitable for people who have both good and bad credit ratings. Lenders offer loans that range from just £100 paid back in a month to 12 months, to loans of as much as £1,000 that may be spread out for up to 36 months if needed.
Small Loans with Short Term Borrowing Options
If you are looking for a small loan to be paid back within one to 12 months you might want to think about the short-term loan or the payday loan. Both loans are popular with people who find themselves short of money and need to find cash to pay off an unexpected outlay.
With the payday loan you can usually borrow between £100 and £500 depending on your credit rating and the lender. Some lenders may offer more with payday loans. Interest is added onto the loan daily as the loan is usually paid back in full the next time you are paid. However, there are lenders who will allow you to spread the loan repayments over three paydays or months.
With the short-term loan, you can usually borrow between £500 and £1,000 and spread the repayments out for up to 12 months. Interest is added onto the loan based on the APR, which is the annual percentage rate, so it is in your best interest to take the loan over the shortest term possible.
A short-term loan is a way of borrowing money and not having the loan hanging over your head for many years. By borrowing a small sum of money and repaying it back quickly, it shows the lender you are responsible and can help to improve your credit file.
Larger Amounts over a Longer Term
If you need to borrow a larger sum of money and want to ensure the monthly repayments are affordable you might want to spread the loan out over a longer term. If you have a relatively good credit rating, finding approval for a personal unsecured loan is generally no problem. Even if your credit rating is poor, you still might get approval.
With a personal loan, you can generally borrow up to £5,000 and spread the repayments for up to 36 months. Interest is added onto the loan annually, so the quicker you can pay the loan off, the more interest you can save. On saying this, always check to make sure there are no early repayment fee added onto the loan.
We can help to find your loans no guarantor needed whether the state of your credit rating. The application process is simple and fast and you will get a decision within minutes. The lenders we work with offer affordable loans with competitive rates and numerous loan options, so apply with us today.