People with bad credit issues face various financial problems throughout their lives. Typical lenders and banks usually avoid them and agree to help only when they arrange a legitimate guarantor. However, it is not feasible to arrange a guarantor every time you face a crisis and apply for the loan. People are reluctant to co-sign your application, as you are not a reliable borrower thanks to your bad credit history. However, you don’t need to worry as there are numerous unsecured lending options available in the online UK loan market. Loans for bad credit with no guarantor can be availed without undergoing complicated procedure.
Let’s summarise top reasons that are tempting enough to apply for these loans:
Reason 1 #Instant Approval with No Extra Fee
If you are in a hurry and even an hour looks tough to wait, then these funds are the best for you. Online lenders don’t ask you to pay an extra fee for the instant approval. It is their regular lending business and their online teams review your applications in a few minutes and transfer the required money in less than an hour. It sounds simple and convenient. Check the approval time on the website of your lender before you apply for these funds.
Reason 2 #Pledging is NOT Required
Unlike mainstream banks, online lenders don’t ask you to submit your valuable assets as the guarantee against the borrowed funds. They know it is very risky to offer no liability funds to poor credit customers, but still, they lend you. Instant poor credit loans allow you to beat all financial problems without putting even a single asset at stake.
Reason 3 #No Need to Stand in Queues
Gone are the days when you used to get up early and rush to the office of the lender/bank for standing in a queue. This application procedure was time-consuming as well as exhaustive. Now, every financial process has become online and so the loans too. Various online direct lending companies offer instant lending solutions through their secure websites. You apply for these loans without going anywhere.
Reason 4 #No Faxing, No Scanning, No Couriering
You no more waste your precious time in scanning or faxing or couriering documents. The online lenders don’t require to submit anything along with the online application. Your basic details are enough to get the required approval. This paperless online procedure is more reliable and feasible than the typical documentation one. Your personal details are totally secure.
Reason 5 #No Discrimination based on your Score
Online lenders treat each online funding request equally. Whether the loan applicant has a good credit score or a zero credit score, they take no time in approving his online application. Bad credit customers can apply without worrying about the rejection. They don’t need to go through the credit check procedure and hence don’t require to submit their latest rating report. Now, you can avail no guarantor loans for bad credit and stabilise your financial life despite having bad credit issues.
Reason 6 #Affordable and Reliable APRs
If you have applied for these loans with a reliable direct lending company then you don’t need to worry about the APRs. They usually charge low APRs despite of your poor credit history. Moreover, there are no hidden charges. You can read their terms & conditions for more clarity on the charges.
Reason 7 # Hassle-Free Repayment in Instalments
Repayment of these loans doesn’t trouble your personal budget and you can pay off the debt in instalments i.e. bi-monthly or monthly. You can choose any tenure i.e. 6 months to 5 years and start repaying the fixed instalment from the next month. The online lenders want to see you financially stable and hence offer customised repayment options.
Fresh deals of this season are out. Why wait for another day? Grab the best deal on loans for bad credit with no guarantor now.