Borrow from £100 to £25,000

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PERSONAL

Loans

N Whole of Market panel
N Trusted panel of lenders
N From £1,000 to £25,000
N Rates from 5.7% to 278%
N 3-36 month repayment

SHORT TERM

Loans

N Online decision
N Responsible lenders
N Borrow up to £3,000
N Rates from 278% to 1576%
N 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

Finding The Cheapest Long Term Loans!

cheapest long term loans

Do People with Bad Credit Need a Guarantor for a Loan?


Thanks to the recent economic depression, many people have very poor. They made some bad financial decisions in an effort to pay bills or protect themselves financially or they may simply not have had any choice but to miss payments due to a lack of funds. This has affected a large number of people, and those affected may find that they have a difficult time getting approved for a long-term finance.

That’s because long-term finance are risky for lenders. When they lend money to someone, they have little guarantee that the person will pay them back on time or even pay them at all. While there are legal repercussions for not paying the monthly instalments, the lenders don’t want to wait for that legal process to take effect to get their money back. They want to start seeing payments being made as soon as they are due. That’s why they are often very careful about who they approve for money.

That applies more so to long-term loans, where borrowers are less likely to make all their payments on time. When there are more payments involved, there is a greater chance that some of those payments won’t be made in a timely manner, if at all. That’s what lenders are afraid of when they have people applying for their finance. So, they may use a check to determine should you are a good fit for their agreements or if you are going to be a risk. If they think you are too risky, they may not approve you for a long-term, but they may offer you a short-term cash instead. They are more likely to at least get most of their money back with a short-term loan.

Is There Hope?

There are long terms cash is available for people with a poor history. Some of them are even long term loans with no guarantor required. A guarantor can pay the monthly instalment if the initial borrower is unable to, and often the guarantor will be someone with better history or more income than the initial borrower.

Using a guarantor for unsecured loans is a good way to ensure that someone with bad history can still be approved for the finance. However, they are often approved on the strength of the guarantor.

Do you have poor past and you want long terms with no back up necessary, then you will have fewer options. Of course, there are plenty of no guarantor options for people who want to take out a cash on their own. Your past determines not only how much you may in interest for the cash but also whether or not you are approved for that loan in the first place.

Do you want finance without a back up, and your past isn’t the greatest, then you will have to do some serious looking for a reasonable rate. You may find lenders willing to lend to you, but their rates are likely going to be sky high. You should do some rate shopping, but you may not have a lot of options to peruse.
Your Options

You can specifically search for “long-term loans, no guarantor required” when you search. Then just whittle it down to the lenders that offer finance to people with poor scores(they will usually advertise this) or those who don’t perform a check. Either one of them will likely want to take a detailed look at your financials to ensure that you can afford to pay it back. The financial check out, then you should be approved. Just know that it would be easier to get a cash should you have decent score and a guarantor with great past. The guarantor acts as a fail safe. Should you not pay, then the guarantor does. That’s reassuring for the lender, and they are more likely to approve you for a finance should you give them no reason to assess you as a risk.

You should also know that all of your options are likely going to come with high interest rates. That’s to be expected when you need a cash with bad to your name. Once your situation improves, so will the offers and interest rates, but for now, you will have to make due with what is available to your financial status.

What can I do if I wish to complain?

Information about complaints can be found in our complaints policy.

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.