Who wants Guaranteed Unsecured Loans Bad Credit?
It’s always the case that the more security you can offer a lender, the more likely your get an instant decision sometimes the next day. Also if you own your home and have a mortgage secured on your home many homeowners can get borrowing at quite low rates and free of fees. For people that are tenants of uk properties, unsecured loans are usually the only way to go as they have no home to secure the loan on.
If you are a tenant and you have bad credit history it maybe more difficult to get a quick direct fee free loan next day, without some sort of guarantor who owns their own home. If you are unemployed and have
may be difficult to get accepted at all, as the lender would feel very unsecure.
For tenants that are studying some of the better student loans from a reputable company can offer really low apr rates, free from large fees, even if you require an urgent cash advance. It’s common for business owners to borrow for every purchase including for a motorcycle as well as for their home.
Get accepted with an instant decision and no fees!
If you do not have a tie in on your mortgage, even with bad credit, you could be much better off refinancing your home, than considering unsecured loans bad credit, even if they offer an instant decision. The best way to borrow money is against your home. The risk to the lender is much reduced when they have the first charge on the property. You will be required to provide your signature on any loan application, unless they are done online in a very specific way. There are some websites online that offer reviews of different lenders.
For people with bad credit history
If you have very little equity in your home, an unsecured loan maybe your only option. There are many review sites online, so it’s worth while reading all the reviews you can find, as long as you are sure you qualify of the best cheap really low apr loan. It’s common now for people to get loans to pay for their wedding, as even a cheap wedding in the UK is around £20,000, debt is just part of early married life. Some people can spend £1000 on a wedding cake when a lot of the cake can get thrown away the next day.
A risk group that lenders like to avoid are unemployed tenants without guarantor, as the likelyhood of default is high.
{ 14 comments… read them below or add one }
You guys must be joking – the average cheap wedding in the UK cost 20 grand? Are you having a laugh. My wedding cost 7 grand and we didn’t shirk on anything. You may want to go and recheck the source of your statistics!!!
Don’t want to seem bitchy but actually weddings do cost £20,000. We got married in a civil ceremony and then had a lunch reception at Nobu. Okay hardly cheap but not extravagant. Your daughter only gets married once youn know./;
This is bonkers, Jade is saying that a wedding costs 7000 pounds. Jenny is saying that her wedding cost 20000 pounds. How do you know what or who to believe?
I am engaged and we have planned our wedding for 2013 to give us plenty of time to save up. We have not researched the costings yet. Looking at these comments it astonishes me that it is not possible to get a reliable opinion on how much the average wedding costs here in the UK. I mean how can you have one person say 7,000 and the other person say 20,000. It just makes no sense. Any other people out there want to share with me how much their weddings cost?
Thanks in advance Sarah, Chiswick
I do not understand how an unsecured loan can be guaranteed. It just does not make sense. Can anyone shed some light on this for me? I’ve heard of a status check as opposed to a credit check where they only ask for identification rather than going to credit agencies.
I look forward to hearing from you.
Mali.
How can unsecured loans be guaranteed? I mean there is a screening process. It may not be a credit check but they will undertake a status check at the very minimum.
Mali, a loan which is guaranteed is very much the standard language of sub prime or payday lenders or whatever you want to call them.
What they don’ttell you is that the loan is guaranteed but only on passing a status check, the thouroughness of which varies from lender to lender.
A status check is when a provider will carry out research to make sure the information you put down on the online application form is correct. Such checks will include asking for proof of full time employment as well as a salary slip. A photographic proof of identity such as a passport or a driving license will also be required.
In all honesty, providing you meet this criteria the payday lender is quite likely to approve a loasn providing it is withing thew parameters of what you can afford to payback and in line with their model for calculating repayment amounts.
The difference between this and a credit check is simple. A credit check refers to credit rating agencies such as experian and equifax to find out your credit score. The lender will use this as the basis of whether to approve you for a loan or not.
Could anyone tell me wher I can get a guaranteed unsecured loan. I need one reasonably quickly.
Mark
Does anyone still offer bad credit loans? Who is the best lender to approach?v Dan
I would like a guaranteed unsecured loan. Do they give them to people that are unemployed or on benefits? I am looking to borrow £500
Is it still possible to get a guaranteed unsecured loan in this current economic climate? I thought lenders were reluctant to part with their money.
I think if you have friends or family who can act as a guarantor for an unsecured loan then why would you not use this option?
I’m looking for a guaranteed unsecured loan. I see that you don’t actually offer them on your site. Could you recommend the best place to get one? Sandy
It is so true. Every lender loves to lend against collateral and who can blame them. In the last couple of years, the irresponsible lending by the banking industry bought the world to an economic crisis. Unsecured lending is the last thing that lenders want to have to deal with at the moment!
I don’t really know how a loan can be guaranteed if you have bad credit? Am I missing the obvious here? Or is there more to all this than meets the eye? I would be interested to hear anyone elses views. Jack
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