The Answer To Your Cash Needs
The Great Things About KnightFinance
Super Fast Process
You could get money directly into your account after just a 15 minutes application.
Get the cash you need without the usual high costs, because of our wide range of lenders.
Low Interest Rates
Compare lenders to make sure that you get the lowest possible rates.
There’s no need to put any collateral against your credit, all our loans are unsecured.
Personal Loans that are Unsecured
It is so easy to get the finance you need today. Here at KnightFinance we pride ourselves on finding the right payment plan to suit anyone’s individual needs. Whether you are looking to borrow a small amount over a short period or are looking for much larger finance agreement we are able to help. Also known as personal loans or signature loans, unsecured loans are becoming a massively popular alternative to the standard bank loan. What unsecured refers to is how the finance is issued depending on the individual’s creditworthiness. Now when that comes to a bank loan, yes this is regarding your credit score, often making it difficult to get the finance you need. However, when we are talking about a loan that is not from a bank this is not the case. Many companies and lenders will not look at your credit score and will gauge your ability to repay on your current employment. So what is an unsecured loan really? This is quite an easy one, all it means is that the loan is not guaranteed by a property or vehicle. Because the lender does not have a source of collateral, just in case you default on payments for whatever reason, the interest for these loans can sometimes be higher than their counterparts. For those with bad credit, though, they are perfect for getting you back on track.
See How Our Competitors Compare
Borrow £500 for 4 Months, Four Monthly Repayments of £215.81 Total repayment £863.24 Interest Rate PA (fixed) 270.10% Representative APR 997%
Loans for Very Bad Credit Direct Lenders
If you’ve got a credit score that is not so impressive and you need to get a loan, there are still many options for you. Many loans in the market are designed specifically for people with very bad credit. When you are looking for loans for very bad credit direct lenders, you can opt for an unsecured loan, secured loan, payday loan, guarantor loan, and more. So, there is no need for you to worry. Surprisingly, if you’ll search online, you’ll find many loans for very bad credit direct lenders willing to offer you an option.
Here are your options:
Secured personal loans
If you are a homeowner and are willing to use your property to secure a loan, you’d qualify for a secured loan. A secured loan will help you get a lower interest rate. Guaranteeing your loan can get you a larger amount and possibly low rate cost than if it were unsecured.
Unsecured personal loans
In contrast with secured loans, unsecured loans are a bit more expensive. You are also perceived as a high-risk borrower because of your credit score. And, with nothing to guarantee the money you are going to borrow, expect to have higher interest and fees on the loan.
If you are a non-homeowner, there is another way to secure a loan. It’s called a logbook loan. A logbook loan is secured against any vehicle like your car, van, motorcycle or even a boat. You’ll find many logbook lenders if you are looking for loans for very bad credit direct lenders.
However, you must be aware of the consequences of secured loans if in any case you cannot make the loan repayments anymore. The lender will repossess your property used as the loan collateral. The direct lender installment loans for bad credit will then sell it and use the money to cover for your loan balance.
If you are looking to borrow a small amount of cash that is payable in a short period, consider applying for a payday loan. Payday loans have always been a quick and easy way for those with very bad credit to get cash.
Perhaps you just need £100 or £200 cash to cover expenses until your next paycheck, payday loans are your best alternative. You can even borrow up to £1,000 for over thirty days. Payday loans can help people who have a very bad credit rating in times of unexpected financial emergencies and there’s no one else to turn to. Creditors offering payday loans are probably the most popular loans for very bad credit direct lenders.
Doorstep loans, also commonly known as home credit, are also a helpful option if you have a very bad credit. You can borrow up to £2,500, but this depends on the lender and it is subject to affordability. With personal service right at your doorstep, most people who are looking for loans for very bad credit direct lenders prefer doorstep loan lenders. These lenders are very considerate and lenient. People with very bad credit often use this type of loan for unplanned expenditure such medical bills or your car needs some immediate fixing.
Instant loans online
Majority of lenders today operate fully online. Loans for very bad credit direct lenders online are abundant, so you need to compare their rates and fees. Instant loans online are a viable source if you are looking for loans for very bad credit direct lenders because they are less strict on the eligibility criteria. The same-day processing of these loans can give you with the funds you need as quickly as possible. Many people who use these short-term loans could appreciate the convenience and speed of online instant loans when there are no other options available.
If you have a very bad credit score, you can also get a guarantor to help you get the money you need at a more affordable cost. With this type of loan, you’ll need another person with good credit and regular income to agree to take the responsibility of your loan if you can’t make the repayments anymore. With a guarantor, you can be offered a lower interest rate.
Loans with a guarantor are usually preferred because you could borrow between £100 and £15,000 with a close friend or family member guaranteeing your loan repayments. A guarantor loan is much cheaper and more flexible than some other forms of borrowing for those with very bad credit. Loans for very bad credit direct lenders that allows guarantors are an absolute help for your case.
Loans for Very Bad Credit Direct Lenders:
Banks are usually the port of call for people looking for some funds, but not for the case of those with very bad credit. You can take out a loan from nonbank lenders, P2P loan lenders, and credit unions.
Peer-to-peer or P2P loans are also a good choice if you are looking for loans for very bad credit direct lenders. Peer-to-peer lenders help you borrow money from investors rather than a bank or building society. P2P works like a bank, except that the interest rate for the peer-to-peer lending are higher. The interest rate will be higher than that of banks and regular loans, but it is a great option for those with very bad credit. Peer to peer lending can offer better deals than some traditional loans.
You can also work with a credit union if you are looking for loans for very bad credit direct lenders. Credit union loans are offered by community-run co-operatives. Loans from credit unions are also much easier to get than from a bank because their credit standards are often more relaxed. Since they are not-for-profit organizations, they can offer loans that are much lower than profit-driven banks. However, you first need to be a member of the credit union, and put in some money as your fixed savings for you to qualify for a loan.
If one lender turns you down, it doesn’t mean you can no longer get a loan forever. The criteria to qualify for a loan vary from one lender to another. Each lender has its own requirements as their basis in evaluating the information on your credit report.
Some lenders will only accept those with good credit. These lenders usually offer loans with the lowest interest rates to be accessible only to those with highest credit scores. So, if you know your credit history is very low, you know most likely be turned down by these loan lenders. However, don’t lose hope. You can still find loans for very bad credit direct lenders who are willing to work with you.
5 most recent personal loan reviews
I love CSC loans I have been with them nearly three years, need a top up as my son is getting married. They where brilliant as usual, no problems, done so quick - they were my life savers when needed most, thank you.
Review posted by Mary Hartnoll, Canterbury
Ease Of Use
Value For Money
As guarantor for my daughters, loan the service we got was quick and efficient, did checks, asked questions and all was sorted very quickly, would definitely recommend Together loans to all.
Review posted by Susan Mills, Darlington
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Brilliant service. The application process was a doddle, the Shawbrook representative who called me was polite, understanding and cheerful. The whole thing (from starting the application process to receiving the money) took around 3 or 4 hours. Very quick and efficient and no long or silly forms to fill out. Just what was necessary. Am very pleased I chose Shawbrook.
Review posted by John Marcus, Surrey
Ease Of Use
Value For Money
Representative 277.5% APR
Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances
Non-payment could have a negative impact on your credit rating and have increased charges and interest rates.