Whether you have a good or bad credit rating there are no guarantor loans UK suitable for all. Many people shy away from guarantor loans as it means asking someone close to you to stand as guarantor. The good news is there are plenty of loan options out there and while a loan is never guaranteed, there are lenders who will consider all circumstances.
A Helping Hand to Find the Perfect Loan
Loans are confusing there is no getting around that fact, as there are different types suitable for different circumstances and with different conditions.
Wouldn’t it be nice if there were someone who could provide a helping hand to provide advice along with independent information and tools to help you get a clearer picture? Well, look no further as we are here to do just that. Among the many things, we can help you with are:
- Helping you to find UK loans suitable for all circumstances;
- Answer all questions about loans;
- Provide an easy way to apply for loans;
- Provide you with access to a panel of lenders with a single application.
Whether you are looking for a small loan that you can repay in just one month or you need a larger loan repayable over many years, we can point you in the right direction.
First, let us look at the loans options available that do not require a guarantor.
The Types of No Guarantor Loans UK Available
The loans below are all none-guarantor loans.
All of them have different conditions, some are meant to be paid back quickly while others can be spread over a longer-term.
Loans Offering £100 to £1,000
If you want a loan offering what lenders consider a small sum of money, you can consider a payday or short-term loan. These types of loans may be easier to find approval for with poor credit ratings than other loans due to small amounts being involved.
A payday loan may work out well in the event a financial outlay crops up that is unexpected and payday is still some time away.
You apply with the lender to borrow between £100 and £500 and choose the dates you want to repay the loan. These are your pay dates. The lender will want to know your pay dates when you apply for the loan. You can choose to pay back the loan on one payday or spread the loan out for up to three. The loan will be more affordable by spreading it over three paydays but in the long term; it will cost you more to borrow. It is important not to roll the loan over for longer than agreed as this will mean fees and more interest is added on and leads to an expensive way of borrowing.
A short-term loan could be considered if you need to borrow £1,000. The repayments on the loan can be more affordable if you spread them out for up to 12 months but the loan costs more in total. You can choose a shorter term on the loan and this will save you paying too much interest, but of course, it will cost more each month.
Check the APR on short-term loans as this is how the interest is calculated on the loan. The higher the APR the more interest is added to the loan so the more the loan costs in total.
Loans Offering Substantial Sums of Money
Larger sums of money, many thousands of pounds, are generally offered by way of personal or secured no guarantor loans UK, depending on your credit rating. If you have a poor credit rating the lender might offer you a secured loan, with a good credit rating you should have no problem getting a personal loan.
Secured loans have to be considered carefully due to the fact that lenders will need something secured against the loan. The lender might ask you to secure your vehicle or property against the amount being borrowed. If you fail to repay the loan the lender can apply to the courts to take possession of whatever you secured.
A personal loan is an unsecured loan. This means you do not have to put anything up as security. You will need a good credit rating to find approval for a personal loan and you may be able to borrow many thousands of pounds and spread the cost of borrowing over the years.
The better your credit rating the lower the APR will be on the loan.
We Provide a Helping Hand to Find Your Loan
We can provide a helping hand to find the perfect loan for your needs. To apply for a loan you have to be over 18, have a regular income, live in the UK and have a bank account and debit card.
To start your loan application you simply tell us how much money you would like to borrow and how long you want to take the loan over.
We can help you to find your loan by searching with the panel of lenders we work with. You provide us with some details about yourself and we will try to match you up with a lender willing to offer the loan you need. You get an instant decision so you are not left waiting around.
As we work with a large panel of UK lenders, your chances of finding a suitable loan increase. Another advantage is that time is saved as you do not have to make multiple applications on your own. Along with this, you do not have multiple applications noted on your credit file.
The lenders we work alongside offer various no guarantor loans UK, along with some of the most attractive interest rates for your circumstances. You get full control once we have matched you with a lender as you can visit the lender’s site directly to find out the details and sign up for the loan. If approved you could have money paid directly into your bank account within just a few hours.