No guarantor loans
This is a loan that does not require another person to guarantee that you can pay back the loan (a guarantor). It is a kind of loan application that is mostly made for people with bad credit ratings, they are termed as insecure loans.
Requirements for a no guarantor loan in UK
As a UK citizen, payday loans are easily accessible for people who are working and are above the age of 18 years old. The amount you are eligible to is determined by your earnings, the application process is an easy as submitting your application, check the application status and if you are eligible the money is transferred. The process could take less than 20 minutes and if you are rejected there is no need to panic because there is a variety of other direct lenders.
Direct lenders in the UK
It is important to do your own research before settling on a particular lender, also check online loans with no guarantor interest rates. The good thing about online loans no guarantor loans from direct lenders in the UK is that consumer protection is protected by law.
There are some of the best lenders in the UK:
- SafetyNet credit
- Money boat
- Piggy bank
- Pounds to pockets
Benefits of taking unsecured loans
- The first advantage of taking an unsecured loan is that you don’t have to have a guarantor
- The loan is granted quickly. It only takes a few easy steps that are done online which take less than 20 minutes to process
- No documentation is required. The application is done online
- Quick release of funds. The moment your application is approved the funds are transferred almost immediately
- No collateral is required
- The details are submitted online
- You can apply for the loan even if you have a bad credit score, which is a big deal for some people
It is advisable to go through the terms and conditions before submitting ANY loan application.