You might be one of the most organized people financially now but have a poor credit rating from the past. It does not matter how good you are at managing your money, the unexpected can happen and when it does you might find yourself short of cash and have to look for a loan. Time may be of the essence and you might need to look for quick loans no guarantor and the best way of doing so is online as you get an instant decision.
What Are Quick Loans?
A quick loan is just as the name suggests. A loan that offers you a cash sum, which is quick and easy to apply for, and which pays money directly into your bank account on the same day.
Two of the most common types of quick loans are the payday loan and a short-term loan. Depending on your actual credit rating, you might also be approved for a personal unsecured loan.
If you need money fast, you do not want to have to wait for hours until you know whether you have been approved. We work with a panel of UK lenders, and once you have told us how much you want to borrow and when you want to repay it, we can search with them to try to match you up. This entire process can be undertaken online within minutes, so you are not left hanging around.
As we search with multiple lenders, there is more chance of our being able to find a lender willing to offer you the loan you want.
How Much Money can I Borrow With Quick Loans No Guarantor?
The amount of money you can borrow with a quick loan would depend on the lender and your credit rating.
If you need just a small sum of money, say anything from £100 up to £500, you could submit an application for a payday loan.
A payday loan accumulates interest daily so the quicker you repay it the less interest is added. Lenders offer payday loans to be repaid on your next payday or the loan may be spread over three paydays. When considering a payday loan it is important to ensure that you can pay the loan as agreed, otherwise, it can be a costly way of borrowing. Also, make sure that you are not going to leave yourself short of money on your payday once you have paid the loan.
If you require a loan of up to £1,000, you might consider a short-term loan. The short-term loan is taken out for up to 12 months, giving you ample time to repay it with affordable monthly repayments.
If you need a quick loan without a guarantor for up to £5,000 and wish to spread out the repayments for up to 36 months you might check out the personal loan.
Can I get Loans with Bad Credit UK No Guarantor?
The lenders we work with will check your credit score but they also look into your personal circumstances, including the amount you have coming in and going out each month. They will then decide if the loan you have applied for is affordable to you. Therefore, even if you have a less than perfect credit rating you might still be eligible to get a quick loan online.
Can I Get A Quick Loan If I Am On Benefits?
The lenders we work with ask that you are over 18 years old, have a regular income coming in, a bank account and debit card in the UK and you live in the UK.
When talking about a regular income it means money coming into the household each month on a regular basis. This can be money from paid work or benefits. This means that even if you are not in work but have regular benefits paid into the bank account you still might be eligible to get a quick loan online.
Quick Loans No Guarantor Are the Easiest Types of Loans to Get
If you have a poor credit rating quick loans no guarantor are one of the easiest types of loans to find approval for with lenders. They are also one of the fastest types of loans to apply for and find out whether you have been successful.
This is because the amount of money you are asking to borrow is relatively small. Lenders are not going to be too worried about your ability to repay a couple of hundred pounds, but they would be if you asked to borrow many thousands of pounds and spread out the cost of the loan over many years.
What about My Credit Rating?
As the amount of money that you are asking to borrow is small, the lender is not going to put as much emphasis on your credit rating as they might if you wanted to borrow thousands.
However, there is no getting away from the fact that all UK lenders will want to undertake some type of credit check. In regards to a short-term loan or quick loan, the lender may only make a quick credit check and not go into your credit file too deeply.
The lenders that we work alongside will consider your ability to be able to repay the loan. This means they will want to know how much you have coming into the household and what you pay out each month. Providing you have enough money left over each month, there is no reason why you should not be able to find approval for a small loan.
Why You Might Benefit from Quick Loans no guarantor
Anyone might apply for a quick loan for just about any reason, but some reasons are more common than others are. Some of the most popular reasons were getting hold of a small sum of money fast can be a lifeline include:
- An unexpected bill has arrived through the letterbox and it cannot wait until your next payday to be paid;
- Your vehicle gets a flat tire and you have to be towed to a garage to have it replaced;
- Your car breaks down and you don’t have the money to pay for repairs until your next couple of paydays;
- An appliance that you cannot manage without breaks down or needs to be replaced and payday is still some time away;
- You have found yourself in an unarranged overdraft and the bank charges are extremely high.
In any of the above circumstances, applying for a quick loan whether a payday loan or short-term loan, could be a lifeline. It would allow you to pay the bill or get out of that financial worry and you could pay off the loan in as little as three months.
How to Apply With Our Help
You can search for a loan yourself using a search engine but this is not something that we recommend if you want to get hold of money fast and your credit rating is poor.
Not all lenders are as lenient when it comes to bad credit as the lenders that we work alongside, and it could take some time to scour through lenders to find one willing to offer credit to you.
We, on the other hand, are not a lender. Instead, we work alongside a large panel of lenders. This means that you can make one single loan application and we can search within our panel of lenders to try to match you with a lender. By doing so there is more chance of you finding a lender willing to offer you credit.
If you were to search for a loan yourself, you might have to apply with many different lenders before finding one willing to offer you money. Every application you make is recorded on your credit file and this can go against you.
To apply for quick loans no guarantor with us just tell us how much you need to borrow and when you can repay the loan and within minutes, you will have a decision. You can then take your time to look over the loan and if all is well, you can go ahead to the lenders page and sign up for your loan.
It is possible to apply for quick loans no guarantor online with an instant decision and have the money paid into the bank on the same day whether you have a poor credit rating and you are on benefits. We work with a panel of lenders who offer some of the most competitive rates along with loans that are affordable.