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Representative 277.5% APR 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.

Warning: Late repayment can cause you serious money problems. For help, go to MoneyAdviceService.org.uk

Majority of people in the UK, at some point in time, will need to borrow money. In these situations, it’s important to remember that there are various loans and lenders that you can rely on to help you secure the funding that you need. If you find yourself stressed out by numerous unforeseen expenses, such as medical bills and car repairs, quick and reliable loans are some of the best options that you can consider in the UK today. Depending on your needs and present circumstances, you can take out loans with a guarantor, loans with no guarantor, loans for bad credit, and loans with instant funding to give you that much needed financial boost.

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Loans with a Guarantor

Loans with a guarantor are standard options in the UK today because it let you borrow financial assistance from £100 to £15,000 with a family member or a friends guaranteeing your repayments. If you have a weak credit history or still don’t have one, you will find that cash loans with guarantors is relatively cheaper and more flexible than some other types of loans available in the market.

Some of the reasons why you would want to take out loans with a guarantor include:

  • Disapprove loan – Perhaps your credit history is not sufficient or still don’t have one because you have never tried taking out credit in your life. Whatever the reason may be, taking out a cash loan with a guarantor can help you secure the funding that you need.
  • You want a payment term suitable to your needs – loans with a guarantor can help you enjoy a payment term that is suitable to your needs and present circumstances. Usually, lenders will allow you to choose a payment term that you need.
  • Improve your credit rating – By taking out a cash loan with a guarantor and making the right payments according to the agreed terms and conditions, it can be an excellent opportunity for you to build or repair your credit rating to favourable levels.
  • Cheaper Loans–You want to enjoy a cash loan that provides lower interest rates than numerous other types of loans available.

Applying for cash loans with a guarantor?

Some lenders cater loans with a guarantor, but if you want speed, ease, and convenience in your application, then online lenders are the ideal options. To take out a cash loan with a guarantor from an online lender, these are the steps that you will have to complete:

  • Before you start an application, be sure that you have checked the lender's eligibility criteria first to ensure that you are qualified for a cash loan with a guarantor.
  • Click through to the lender's website and complete the application - right through to e-signature.
  • When you fill out the application form, you will need to provide your guarantor's details and have them co-sign your loan deal.
  • If your application is approved, you can get your funds deposited into your bank account on the same day.

The idea behind loans with a guarantor is pretty straightforward. If you want lenders to give you favourable interest rates for large amounts of funds with flexible payment terms, then you will need to provide an acceptable guarantor. The person is someone who has full confidence in your ability to make the right repayments and will be willing to step in if you encounter difficulties in fulfilling your payment duties. The guarantor will also need to have a strong credit rating and a considerable income level to become eligible.

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Loans with No Guarantor

If you can’t find someone who will co-sign your loan deal as a guarantor, there are still available options that you can look into to secure the money that you need to deal with various finances in the form of loans with no guarantor. Typically, there are two types of loans with no guarantor: secured and unsecured loans, and we will discuss each option below.

Unsecured Loans With No Guarantor Needed

The loan industry in the UK today has never been more competitive, and borrowers from different walks of life can now enjoy £1000 to £25,000 worth of unsecured loans at historically low rates. And because they are unsecured, this means that you can borrow large sums of cash without the need to offer any security or collateral. Nothing you own will be at risk. Your chances of getting approved for unsecured loans with no guarantor will be based purely on your circumstances:

  1. Your credit rating - This means that your credit history will be checked to determine your creditworthiness.
  2. The affordability of repayments - Your income and expenses will be evaluated so lenders will know for sure if you can afford to make the right repayments.

Typically, the general criteria for unsecured loans with no guarantor include:

  • At least 18 years of age and a legal resident of the United Kingdom
  • All credit ratings can apply
  • A reliable source of income required (but could be pension or benefits)
  • Repayments must be affordable and suitable to your income
  • Don't have to be employed (self-employment is often acceptable)
  • No guarantor or co-signer is required

To ensure that an unsecured cash loan will be ideal for your needs and present circumstances, make sure to borrow what you need and never go above. Also, make sure that your payment term is something that is comfortable to your monthly budget. And if you have the option, pay off your loan as quickly as you can so you can save on future interest rate payments.

Secured Loans Without a Guarantor

Secured loans with no guarantor require an asset or property that will serve as collateral that offsets the risk that the lender needs to bear with your application. And with such security in place, you can take out even more significant amounts than unsecured loans and possibly lower % costs. However, there is a real risk that you would lose your property if you default from your investment. Nevertheless, a secured cash loan with no guarantor can help you attain different financial moves such as:

  • Make a large purchase like a car or home
  • Fund a massive project like significant home improvements and long vacations
  • Consolidate expensive debts to cut interest costs

The Application Process

Because there is costly collateral involved in secured loans with no guarantor, there is more underwriting and checking that needs to be conducted by the lender than with an unsecured cash loan with no guarantor. While it is entirely possible to get a quote online from various lenders, completing a full application will take more than just a single sitting. You can expect to finalise a cash loan with no guarantor deal for several days. If you need funding fast, then you might want to look into other options especially those that available online.

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Alternative Cash Loans for Bad Credit

There is an assortment of loans for bad credit that can cater borrowers who have impaired credit rating. Typically, however, these loans have higher costs than secured and unsecured loans and those with guarantors as well. Below, we have listed the most popular loans for bad credit in the UK along with some key features that will help you determine which option suits you best. In the end, the kind of bad credit cash loan that will work best for you will depend on your circumstances and your credit status.

Payday Loans - The loans for bad credit are short-term financial products that work like cash advances. Typically, you will need to pay back the small amount of money that you borrow in your next payday. Many people continuously rely on payday loans to deal with low emergency expenses and temporary cash shortages.

  • Borrow up to 1000 pounds that you will need to pay after one month
  • You can access funds from a variety of lenders online
  • Enjoy instant payouts in the same day you made your application
  • Very useful in dealing with emergency expenses and cash shortages
  • Offered in small amounts for short terms
  • You will need to pay out the loan in one single lump sum

Doorstep Loans - The cash loan for bad credit are the most convenient forms of short-term funding that you can avail in the UK today. The loans are arranged at your door by a friendly local agent representing your lender. Once approved, your loan amount will be handed to your right then and there. The same agent will then return every week to collect the payments of your loan.

  • Small loans that allow you to borrow up to £2,500
  • Repay over 14 to 52 weeks depending on your needs and present circumstances
  • No bank account required. Cash will be delivered right to your door
  • Pay weekly or bi-weekly in fixed amounts
  • Friendly doorstep service and face to face basis loan transactions
  • Multiple loan options
  • Logbook Loans - Logbook loans are a form of secured loans for bad credit that has a connection to your vehicle. The great thing about this option is that you can take out large amounts of cash which is typically equivalent to 50% of your vehicle’s trade-in value although there are lenders that allow as much as 75%. You can keep using your car as long as you keep up with your loan’s payments.

    • Borrow anywhere from £500 to £25,000+
    • Flexible payment terms from 3 months to more than two years
    • Loans secured on your vehicle's V5 documents or logbook
    • Any credit rating can be approved

    Credit Card - Credit cards allow you to access credit anytime you need it. You also have the option to borrow more although there is typically a limit to how much you can take out. Availing for a credit card is also very easy, and even people with bad credit can obtain one.

  • Initial credit limit of £150 to £1000
  • You have the option to increase your credit limit over time
  • An excellent opportunity to build or repair your credit history
  • No Annual Fee
  • Consumer protection built-in
  • Loans from a Direct Lender

    When you opt with loans from a direct lender, this means that there is no need for you to go through numerous companies to obtain the funding that you need. Instead, your direct lender will be the one to complete every vital part of your lending process, starting from the evaluation, the approval process, down to the transfer of funds.

    Some lenders who rely on a few other companies in their lending process. For instance, you might apply to one company, and after they have evaluated your application, they will forward your information to another company to get the funds for your loan. The moment you receive and pay it back, you might be surprised that you are dealing with a few companies instead of just a single direct lender. It means that you may be receiving multiple phone calls and messages from some companies even after you have received your loan.

    Advantages of loans from a direct lender

    While taking out credit from a broker or third party is not at all illegal or disadvantageous, there are specific benefits that you can enjoy from taking out loans from a direct lender. One of them is the fact that you don’t need to deal with multiple companies but will instead be dealing directly with one single loan company. It makes things a lot easier on your part as working with a series of lenders can be quite confusing.
    Another advantage when you take out loans from a direct lender is that you can typically enjoy lower rates without needing to wait extra time for approval. But while it’s still possible to get a little rate if you opt with a broker, it may take a few days before you can have one. And if you are not happy with the price that a direct lender is offering, you can move on to the next one that provides a more favorable loan deal.

    Loans with instant funding

    Getting loans with direct financing can benefit you in several ways. They are quite popular in the UK because they provide borrowers with unique advantages such as:

    • No Credit Check - Loans with instant funding are for emergency purposes which means you can obtain one that has no credit check involved. It allows you to secure the direct financing that you need even if you have bad credit. Traditional loans typically require some form of a proper credit on your part to get approved. Using loans with instant funding, there is no need to worry about your credit rating getting in the way of obtaining fast cash.
    • Fast Process - Using Loans with instant funding, you can expect the process to be speedy. You can accomplish the application in as little as 15 minutes, and once you are approved, you will receive the money through your bank account on the same day. It helps you deal with any emergency expense in the quickest time possible.
    • Perfect for dealing with cash shortages - No matter how you manage your finances, sometimes you can end up in a situation wherein you will need additional money to deal with sudden cash shortages. Bills and expenses will keep coming regardless of your income and present situation. In these moments, loans with instant funding will help you ride through until your next payslip arrives.
    • No collateral needed - While there are loans with instant funding that will require some form of insurance, you can find plenty of options that have no connections to your assets. It means that you can obtain quick funding without the need to offer someone the title to your car or home.

    But never forget to take out loans with instant funding only from legit and reputable lenders. While most lenders operating in the UK are under the FCA or Financial Conduct Authority, there are those who are not and partnering with them can open a floodgate of potential risks and problems that you never want to experience.

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