Borrow up to £995
Rates from 278% to 1576%
3-12 month repayment
From £1,000 to £25,000
Rates from 4.7% to 278%
3-36 month repayment
Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances.
† Not all loan types and amounts are eligible for 20 minute payouts. Your chosen bank may increase the time you receive the funds.
Idea about loans for bad credit no guarantor no fees direct lender
What is actually meant by loans for bad credit no guarantor no fees direct lender? It means that the borrowers are offered a loan direct from the lenders with high credit risk. But there is no necessity of a guarantor and fees even if they had not paid their past loan obligation and unable to produce the old credits documents to get an approval for a new loan. It is very easy to get in touch with the lender as they appoint many agents who work on commission basis.
High interest is imposed on bad credit
When persons’ credit score is low, then lenders has less interest to give them loan or credit. As lenders think that they may be defaulter again for paying the interest. So giving them loan may be risky for the lenders, hence they imposed an high rate of interest to compensate the risk factor of loans for bad credit no guarantor no fees direct lender.
Few types of bad credit loan
There are several option is available in the market for getting loans for bad credit no guarantor no fees direct lender. Customers are attracted by this kind of proposals of the lenders naturally. Though it is difficult to get an easy loan for the customers, having bad credit, still they should more causes about having this kind of loan. Here are few tips for them, they may avoid these kind of bad credit loan offered directly from the lenders.
· Bad credit loan for automobile
Often people have to pay a huge interest amount within a short period for having a bad credit loan for a car or something like that. Because lenders do not have much interest for funding a person having a bad credit score. Especially, when a person buys an old vehicle. The reason behind this is the fast going depreciation value of the car and due to that it is difficult to get a new lender for refinancing.
· Pay day loan
This kind of loan is offered by the lender to the customers who have a bad credit loan history. Here lender offers a small amount of loan with high interest for a very short span of time like within two weeks. It is an illegal process of having loan and there is no fixed rule for having this kind of loan. Rules vary from place to place and lender to lender.
· Auto tittle loan
Auto tittle loan is offered online by the lenders to the customers having bad credit loan history. In this case customers are offered a huge amount of loan, but condition is if they unable to pay the amount with interest on time they have to give up their car to the lenders.
· Mobile home loans
This kind of loan is offered by the lender in a high rate of interest for a long period. But as it is a mobile home, the terms and conditions are just like a car loan so there is no chance of getting refinance as like a car its depreciation value too going very fast.
· Quick personal loans
Kind of personal loan where lenders offer a lum sum amount of money on the other hand customer has to pay credit check quickly.