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£50 – £5000

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How much do you need?

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.

same day loans for unemployed UK residents

Unemployed Loans Same Day Payout Benefits

One of the worst fears that unemployed people have is the fact that they don’t know when they are going to be employed again. Despite losing a stable source of income, your responsibilities will not stop, therefore, you still need to settle some bills and expenses.

If you’re looking for an extra cash to help cover some of your expenditures and you don’t know where to get it, then this article on Unemployed Eligible Loans For Same Day Payout will help you.

What Is It All About?

If you have any fixed asset and you are willing to yield it to the lender, you can apply for unemployed loans. Without a reliable source of income, the lender’s business is at risk of defaults. No matter how small or big the loan amount is, there is still chance that a borrower will stop repaying for a loan. Holding collateral somehow gives the lender a guarantee that the loan will be settled. Otherwise, the borrower’s property, such as the car or a house, may be repossessed, sold, and use the money to repay the loan, interest rate, and other fees.

However, even unemployed borrowers may apply for same day loans, it offers a better position of getting the loan. After all, there really is no problem as long as you are willing to repay the loan back.

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Unsecured Loans Are They Same Day Loans?

Whether you have no property to pledge or you’re not confident with risking your asset, unsecured loans are for you. This type of loan offers a small amount and a large interest rate, however, you can get extra money even if you’re just a tenant. Unemployed non-homeowners have the equal right to acquire a new credit line in a rapid manner as there’s no need to verify the collateral. Lenders can send the same day loans for people on benefits unemployed in as fast as 24 hours or less.

No collateral or guarantor is involved, however, a source of income is available and when you are jobless, you can have it through disability living allowance, income support, or benefits. Creditors will not hold any asset as a security, therefore, this is an important factor. Otherwise, your loan application will be rejected.

same day payout loans

Repayment Procedure – On All Loans

Those who have successful applied for unemployed-eligible loans, you can repay the loan through flexible or fixed monthly payments.  Flexible means that there’s a chance that the monthly amount will increase or decrease, depending on the market. Fixed payment, on the other half, will experience no changes no matter how strong or weak is. Meanwhile, there are also lenders who accept late payment until the borrower finds a new job.

Applying for this type of loan sounds exciting, however, not all lenders should be entertained. To minimize the costs and ensure your safety, you may start by asking for a free quote from different lenders. Compare to find out which one offers the best and who receives the most number of positive feedback. This will help you know whether the loan provider is worth dealing with or not.

The Process Explained

The MoneyFall website makes the entire process of finding a suitable loan provider as quick and easy as possible… in fact the whole online application will take less than 15 minutes and it’s completely free! Here’s a step-by-step guide:

1. Our Form

Simply complete our online form with a few details about you, your past employment history (don’t worry if you’re unemployed, you can still apply!) and how much you would like to borrow. There’s no paperwork involved and you can apply via your smartphone too!

2. Our Panel

We then cross-reference your application against our leading panel of loan providers and determine which will be the perfect lender for your needs. There’s no credit check involved during this process which could have a negative impact, and you’ll be presented with the best possible options who are more likely to accept your application.

3. Your Choice

You can then choose to proceed with a loan from one of the options presented to you. All of which will be tailored to your unique circumstances and will consider you even if you currently have no job. The agreement is typically immediate, and the money can often be transferred to you on the same day within 24hrs! Once approved, you just need to keep up with the repayment amounts over the period agreed which can be anything from 1 – 36 months.

Who Does Same Day Loans for People with No Jobs?

We know lots of lenders that may be willing to offer you a loan if you find yourself in need of a loan today, even if you’re in unemployment. Of course as responsible lenders they will need to know some information about you, and you will need to fit the eligibility criteria.

eligibility for payday loans with no job

Am I Eligible?

Typically, you will need to meet the following requirements in order to qualify:

  • You need to reside in the United Kingdom and have a permanent address.
  • You need to be a UK adult, that is over 18 years of age.
  • You need to own a valid UK bank account with the address matching your home residence.
  • You need to prove that you can afford the monthly repayments of the loan (the unemployed are still considered).
  • You will be asked to provide some or all of the following documents/information: incomes/expenses, bank statement, full name and any identification, details of any credits or benefits received and previous employment information.

When Will I Receive the Cash in My Bank Account?

If you’re unemployed and need money now then there are options available to you. Our lending panel consists of numerous companies that can offer guaranteed same day loans (or the same business day) and even money in 15 minutes (when their criteria is met). These options are perfect for those needing emergency money, but without the option to raise the funds elsewhere. You can even get longer durations such as 12 month loans with a same day payout!

* Please note that though these are fast lending options, they are still subject to eligibility checks as part of responsible loaning.

Uses For Your Fast Cash Advance

One of the many advantages of this type of lending is that you can use the cash received for any purpose you like. Typically, when people need money in a hurry and are currently out of work then it’s for a crucial payment that simply can’t wait. Here are some popular reasons why UK residents use MoneyFall:

  1. Broken-down vehicles that need immediate repairs
  2. The consolidation of other debts into one manageable amount.
  3. To quickly pay off unexpected bills for utilities or overspend on credit cards or store cards.
  4. Home emergencies such as house repairs, water leaks, roof repairs etc.
  5. As a wage day or payday advance to tie you over before starting a new job.
  6. Or maybe just a much-needed holiday for the family!

Your options really are endless, but you should always ensure that any money lent only goes towards the sole purpose to be certain the issue is resolved.

student guaranteed loans delivered today

I’m a Student and Unemployed… Can I Get a Loan Today?

YES! We understand being a student can be financially difficult, and that even if you find yourself in-between part-time jobs you may need an advance to get you through the term. You will still need to meet the eligibility criteria and repayment terms as with everyone else, and be able to prove that you can afford the installments to avoid getting yourself into financial difficulty.

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Why Choose MoneyFall

Quick and Easy Process to the money you need. The most reliable lenders from across all the UK

Loan amount
1,500 - 25,000
Loan term
1 - 5 Years
CUSTOMERSCORES
Excellent
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Loan amount
500 - 25,000
Loan term
1 - 5 Years
CUSTOMERSCORES
Gold Trusted Service - feefo
Apply Now

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Loan amount
500 - 25,000
Loan term
1 - 5 Years
CUSTOMERSCORES
Gold Trusted Service - feefo
Apply Now

Show More ▼

Loan amount
500 - 25,000
Loan term
1 - 5 Years
CUSTOMERSCORES
Gold Trusted Service - feefo
Apply Now

Show More ▼

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

5 most recent personal loan reviews

Review of Bridge Finance

This is my second loan with Bridge Finance and both times they have been very helpful and informative. Explained everything to me and made sure I understood the process and what would happen. I would recommend Bridge to anyone.

Review posted by Charlotte Ashton

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Wesleyan Bank

Wesleyan loans are a financial institute which is excellent for applying for loans. It looks at all your circumstances and provide loans to people who are refused elsewhere. They are fast and honest. I would recommend Wesleyan loans to anybody who needs a loan.

Review posted by Zafrullah Khan, Slough

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Logbook Loans

Really happy with my experience with Logbook. Most of the process was done online from the convenience of my own home. Really friendly customer services too! Highly recommended.

Review posted by Bethany Holcombe, Cirencester

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
All reviews are sourced from Trustpilot.com for authenticity.