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Category: Unsecured loans

Desperately in need of a loan?

Desperately in need of a loan?

Frustrated by constant rejection by other loan institutions?

Is your poor credit score or the fact that you are blacklisted the reason?

Don’t worry, there is hope… as we can help you with an unsecured loan, no credit checks needed at all.

Interested?

What is an unsecured loan?

An unsecured loan is very similar to a personal loan. There are a few fundamental changes, however. When you take out a personal loan with a bank or other financial institution, they will do thorough credit checks. With an unsecured loan, this is not necessary.

And now you are thinking “Sure, but if I want a loan I am going to have to put up an asset like a piece of jewellery, my car or even my house”. Nothing could be further from the truth. None of your assets are used as collateral.

So how does it work?

Applying for an unsecured loan is very simple! We streamline the process to make it both quick and easy. Not only that but be rest assured that we find you the best possible loan for your unique needs. All this is done free of charge of course!

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You will either need to email us or visit our offices to get the ball rolling. We will require a number of pieces of important information from you, so be sure to bring them along.

This includes the following:

  • Personal identification (either an identity document, passport or drivers licence)
  • Proof of address (a utility bill is perfect)
  • Three months wage slips (as proof that you earn a regular income)
  • Three months bank statements (to help determine an easily repayable loan amount)
  • The name of your employer, a contact number and address

There are other pieces of information we require as well, such as your expenditure. This helps us work out a loan that will not place too much financial strain on you every month. You need to be a UK resident and over the age of 21 to apply for an unsecured loan with us.

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PLEASE NOTE!

All loan terms, as well as monthly repayments, will be discussed with you in full before we conclude the loan agreement. It is imperative that you understand that missing a payment can result in a loan cancellation and the money being recouped from you through legal means.

If you know you are struggling to make a monthly payment, contact one of our loan experts. We will do everything in our power to help you and we have the means to do this. From adding a payment to the end of the loan term to renegotiating terms, we can help. We will not penalise you in any way should you need help in this regard. Never skip a payment without informing us of your intentions. Let us help you!

If you need any further information regarding an unsecured loan, please contact us for a free brochure, or better still, come and speak to one of our staff. We will guide you every step of the way!


 

Unsecured loans – a large variety for you to choose from

Unsecured loans – a large variety for you to choose from

When it comes to unsecured loans in the United Kingdom, there are a large variety available to choose from. These products are becoming more and more popular, especially as they can be secured, even if you have a bad credit score, and in some cases, are blacklisted.

Their popularity stems from the fact that you need no form of collateral to secure a loan – unless it is a logbook loan. This uses your vehicle as collateral, but you will still be able to drive it on a daily basis. Unsecured loan applications are also extremely fast and should you be successful, the agreed upon loan fee is paid into your bank account in a matter of hours.

What type of unsecured loans are available in the United Kingdom? In this article, we will take a look at a few options that you can compare should you need cash in a hurry.

Peer-to-peer loan products

This type of loan completely cuts out a financial institution or bank. Here you borrow from a lender with no middleman involved. A word of warning, many peer-to-peer lenders have varying interest rates and repayment options. Before signing for any loan, read the contract fully, including the fine print.

Payday loans

These are often an outlet for people with bad credit scores who need to secure a sum of money. Here, you agree to pay back the borrowed amount once you receive your next paycheck. Again, interest rates with these loans can be fairly high, sometimes close to 1000% APR. Missed payments also result in high penalty fees.

Instalment loans

Here a borrower agrees on a set some of money with a lending institution. This is then repaid over a period, for instance, 24 months, along with the interest accrued.

Guarantor loans

This is very similar to an instalment loan but here the lender will ask for someone to act as a guarantor for the loan. What does this mean? Well, should the applicant not be able to repay their loan, the guarantor will be expected to pay it. This provides an extra level of security for the lender, and can be offered to people with a bad credit history as a form of loan product. Because of the guarantor, interest rates and monthly repayments are often cheaper.

Logbook loans

Logbook loans are given to applicants who own a motor vehicle, truck or motorcycle. Here the vehicle itself acts as collateral should the person stop making their monthly repayments. Should this happen, the lender, who legally owns the vehicle for the duration of the loan, may repossess it. The loan amount depends on the condition of the vehicle as well as the mileage. The vehicle must be comprehensively insured throughout the loan period.