Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
We are an authorised credit broker, and not a lender.

Quick money instantly

We help you find the solution that best suits your needs
Loans For Bad Credit No Guarantor Direct Lender
20 May 2019

Loans For Bad Credit No Guarantor Direct Lender

Have you been considering applying for loans for bad credit no guarantor direct lender by making a search? If so, you might have found that finding a loan with a poor credit rating is not as easy as you first might have thought. It is possible to get a loan if you have bad credit, and the easiest way to find one, and quickly, is with our help.

Some loans are easier to find approval for than others might be if you have a less than stellar credit rating. If you don’t want a guarantor loan, and we can understand that they are not suitable for everyone, there are two popular choices.

  • Payday loan;
  • Short term loan.

There is also a personal loan, but if you have a poor credit rating this might not be the easiest type of loan to find approval for.

Why Not Allow Us to Help You Find A Loan

Going direct to lenders is one way of finding loans for bad credit, but it is certainly not the only way and it is not the fastest way of obtaining a loan. If you are looking for a loan because something unexpected has cropped up and you need to get your hands on money fast, you might not want to waste time finding a direct lender.

We can help to match you up with lenders as we work with a panel of UK lenders. Apply for your loan with our help and we will search with multiple lenders on your behalf. If we find you a match you can go directly to that lenders site from ours and check out the details of the loan and finalise it.

What About A Payday Loan?

One of the loans that does not require a guarantor is the payday loan. This type of loan is generally easier to find approval for than other loans due to the fact that only a small sum of money is being borrowed and it is being paid back fast.

With payday loans you may be able to borrow between £100 and £500. This is often enough to meet any unexpected financial outlay that crops up where you need money until your next payday.

You can choose to pay off the loan in full along with interest on your next payday or you can spread out the cost over three payday. Spreading it out over three months can make the loan more affordable, but do consider the fact that it will make the loan a lot more expensive than if you had repaid it off within one payday. This is because interest is added onto the loan on a daily basis.

What About Short Terms Loans for Bad Credit No Guarantor Direct Lender?

You might want to give some thought to taking out a short term loan if you wish to borrow between £500 and £1,000. This is going to depend on the lender, some might offer you more but this is going to depend on your credit rating. All lenders will check your credit file. The loan can be spread out for up to 36 months if you need to but paying it off earlier can save you money.

When considering short term loans for bad credit no guarantor direct lender, compare the APR on loans. This is the annual percentage rate and determine how much interest will be added onto the loan over the term.

It may be possible to repay the loan earlier than agreed but do find out if you would have to pay an early repayment fee to do so. If so, it could outweigh any savings you might make.

Criteria For Loans

To be able to apply for any type of loan in the UK you do have to meet a set of criteria. You should:

  1. Have a regular income;
  2. Be over 18;
  3. Have an address in the UK;
  4. Have a bank account and a debit card.

Lenders ask for your bank account and debit card numbers when applying for a loan. They need this to pay the funds from the loan into your bank if you are approved and take the monthly repayments back from your bank.

Making Your Loan Application

To apply for a loan with our help, you simply tell us how much you would like to borrow and when you can repay the loan.

We can then make a search from the panel of lenders that we work alongside. If one of the lenders turns you down, we move to the next to try to find you a lender willing to offer you the loan you want. The advantage of this is that you make just one single loan application to gain access to numerous lenders. Despite the fact that we search with multiple lenders you don’t get multiple searches recorded on your credit file.

It is important to note that lenders will check your credit file, but if you are only asking to borrow a small sum of money they will not look too deeply into your credit file. Of course, if you are asking to borrow more money with a personal loan, up to £15,000, lenders will look deeper into your credit file. With the payday or short term loan lenders may take your ability to repay into account more than what happened in the past.

In Conclusion

Loans for bad credit no guarantor direct lender can take some finding on your own. Alternatively, with our help, you can apply for a loan within minutes and get an instant decision. If approved money could be paid into the bank the same day. The lenders we work with offer affordable loans with numerous loan options and some of the most competitive rates.