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From £1,000 to £25,000
Rates from 5.7% to 278%
3-36 month repayment
Borrow up to £3,000
Rates from 278% to 1576%
3-12 month repayment
Representative Example: Cash price £7,500. Deposit £0.00. Total amount of credit £7,500.00.
60 monthly repayments of £137.22 Total charge for credit £733.20. Total amount payable £8,233.20. Interest rate 3.8% fixed. 3.8%APR Representative.
We are a Credit Broker and not a Lender
Save Money on Bad Credit Loans
Just about any time you have a broker involved, the cost of whatever the broker is helping to sell will increase. After all, the broker needs their fee from what is being sold, and the extra cost accrue dot the seller will often be passed onto the customer.
That’s how lending works too, many times. There will be instances where having a broker in the mix won’t add any cost for the borrower its a cheap and efficient way of doing things, but it’s hard to tell whether the cost is increase due to a broker’s involvement or not. Despite what promises the broker may make, there can still be added cost for their services that the borrower isn’t aware of.
The broker has a purpose and there are advantages to having them involved. They can help you source loans from several different lenders at once, saving you money and finding the best loan for your needs. They also improve eligibility, helping you sort through what’s available to find a loan you would be approved for.
However, if you are looking to save money on a loan and your credit is poor, then you should be looking for very bad credit loans with no guarantor and no broker. That way, you eliminate the middle man and get approved for the loan faster. Brokers can sometimes provide a false approval, telling you that you are eligible for a loan when they don’t actually know for sure until they check with the lender offering the loan.
Not having a guarantor places the full responsibility for the loan on you. That can be both good and bad, but the biggest positive is that it doesn’t involve asking someone you know to handle your loan responsibilities for you. As you can guess, that can strain a relationship and make it hard to restore your friendship after your friend has had to pay for your loan.
Very bad credit loans with no guarantor and no broker required are relatively common. You don’t have to search for all those terms to find these loans, though. You can simply search for “bad credit loans” or for any payday lender or fast cash lender. Most of them offer loans to people with very bad credit without the need for a broker or guarantor to be involved.
Oftentimes, you won’t be able to easily tell if a broker is part of the deal. You will need to read the website’s fine print to find out if a lender is offering the loan or if you are going through a broker. Keep in mind that not every time a broker is involved will there be an increase in fees, but it is often safer to leave the broker out of it, if you can. You can get better rates as a rule without there being a broker.
Having a guarantor doesn’t affect the rates on a very bad credit loans with no guarantor and no lender. It only simplifies the process and ensures that no one else has to get involved in the loan with you
What if I can’t keep up my loan repayments?
If you can’t keep up with your loan repayments you must contact your moneylender immediately and advise your struggling with the monthly installments some companies will adjust your monthly installments to reflect what you can afford to pay back on a monthly basis please note that this can also extend your term of the agreement and probably the amount of interest that you end up paying back. You’re never advised to just stop paying your agreement as this may result in interest being charged on the agreement and missed payments showing on your credit file this could make obtaining credit further down the line a lot more difficult.
What do i do next?
Next is the fun bit you need to click on the apply button and fill out our simple online form designed to make sure the whole application as smooth and pain free as possible. The whole application process from start to finished shouldnt take you longer that 3 minutes its as simple as you can get.
*Subject to lender approval and requirements.