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.
Do you really need bad credit loans UK no guarantor?
Most individuals who don’t have a large financial backup seek for a loan at some point in their lives. Well, there are several aspects which are considered at the time of approving the loan application. These aspects include the credit history of the borrower, the monthly income of the borrower, the property owned by the borrower and various other aspects.
This article will be focusing on individuals who have a bad credit history, yet are looking for a loan in order to improve their financial credibility. Bad credit loans UK no guarantor is what such individuals need.
The need for bad credit loans UK no guarantor
This article will be focusing on the major needs and the major aspects to consider as far as applying for bad credit loans UK no guarantor is concerned. In the event that you aren’t certain as to whether or not you should apply for such a type of loan, make it a point to go through these points.
Individuals mostly apply for this form of loans due to a bad credit score. The first and foremost thing that such individuals must do is get their credit report and understand the various aspects that are associated with it. In the event that an individual is unable to understand the various aspects of his or her credit report, seeking help from a professional is perhaps the best possible option.
If you aren’t certain as to why you have such a low credit score then going through the report carefully must be your first priority. It may so happen that the reason behind your poor credit score is an incorrect entry. Once you come up with such an entry, it is advisable for you to contact the concerned authorities and ask them to get the incorrect entries corrected or removed. Both will have a positive impact on your credit score which in turn ought to be beneficial in the long run.
No previous loans
This is perhaps another major reason behind a poor credit score that most individuals are unaware of. In the event that an individual has not applied for any form of a loan previously, he or she definitely ought to have a poor credit score. Under such a situation, it is not recommended for an individual to go for bad credit loans UK no guarantor. The best way to get out of such a scenario is to apply for small loan amounts and clear them duly.
There are various other activities that may lead to a bad credit score. In the event that your problem is one of the issues listed above, then it is for certain that you don’t need to go for a bad credit loan. These form of loans makes the task of getting out from a financial issue all the more difficult. Hence, it is strongly recommended for individuals not to go for this form of loans until and unless this is the very last option that they have.