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%
Low Rate Installment Loans Bad Credit
Loan lenders in United Kingdom has surged up in the previous years. People can take out a loan from banks, nonbank creditors, short-term lenders, credit associations, P2P lending companies, and much more.
Because of the increasing number of lenders in the market, it resulted in stiff competition. Thus, rates have become competitive as well. This gives people much more choices and chances to obtain a low-cost loan. Majority of lenders offer flexible repayment period and amazing loans you can choose.
Even having poor credit cannot stop you from getting a low rate loan. You’ll find many direct lenders for installment loans bad credit in the UK offer loans specifically designed for those poor credit. Majority of lenders today operate fully online, offering cheaper loans because having no physical store help them cut cost.
Having bad credit could mean a lot of things. Bad credit could be a result of a default on a previous loan, bankruptcy, excessive usage of credit cards or having no credit history at all. Bad credit is a common thing among people who need extra cash, and getting a low rate loan is still possible.
Many lenders in the United Kingdom offer low rate installment loans. Having bad credit may make your search for a loan more challenging, but there are still options for you. Even if you don’t get approved by some lenders, you can get a loan with other money lenders one way or another.
Once money lenders are able to determine that you can pay back the loan on the agreed schedule and amount, you can be eligible for loans with lower rates or apply for higher amounts. Conventional credit lenders will look into your monthly income, and see whether you can comfortably afford the repayments without compromising your other monthly obligations.
If you get a loan approved, consider it as a chance for you to enhance your credit rating by making repayments promptly and consistently. Once you are financially stable and pay back your debts and bills, your credit rises up. What you really need to consider is applying for loans with low APR.
Low Rate Installment Loans
There are plenty of low-rate installment loans and it is important that you understand your options. In the UK, there are loans are readily available, catering to those with bad credit.
Familiarize all sorts of low rate installment loans for you to see which one best suit your necessities. Most people prefer installment loans because you can spread your repayment in a few weeks or months, and even years.
Here are the most viable options to get low rate installment loans
Short-term installment loans are typically small in amount and repayment period is mostly within a year. Depending on the amount you will borrow, the repayment period can range from three months to three years with some lenders. You can borrow as little as £200 or as much as £2,000, depending on your needs and eligibility.
A popular short-term loan for bad credit is the payday loan. While most payday loans in the market must be paid in a one-off payment by the borrower’s next paycheck, some payday loan lenders allow installment basis.
Secured and Unsecured Loans
You can decide whether to take out a secured loan or an unsecured one. In general, secured or guaranteed loans are cheaper than unsecured loans. Secured loans have lower rates since an asset or a third party guarantees the loan. Common examples of secured direct loans are personal loans, mortgage loans, guarantor loans, and auto loans.
Choosing secured loans over unsecured loans may include perks, but there are some disadvantages. For one, secured loans require a collateral as a security deposit for the loan. This means that if the borrower fails or defaults on the loan, the lender has the full right to take away your asset.
If in case you don’t have any collateral to pledge, another good option would be guarantor loans. Guarantor loans doesn’t require the borrower to provide a collateral but rather a person who can guarantee that the loan will be fully paid on time. The guarantor can be a person close to the borrower such as friends or family. The guarantor’s responsibility is to ensure that the debt is paid and has to co-sign the loan agreement before it is awarded to the borrower. To be eligible as a guarantor, they must have stable source of income enough to cover the loan and a good credit history.
With a guarantor, you can take out the loan amount you desire, at the loan term you want, and at a lower rate. However, if you are not a homeowner or do not want to have your assets or another person on the line for your debt, you can still find low rate unsecured loans.
What you need to know about unsecured loans are these types of loans are heavily depending on the borrower’s creditworthiness. The lender will have to check your credit score and look up to your history and see if you have previous unsettled debts or issues with your previous loans. That will determine whether you’ll going to approved or not.
If you want to get low rate installment loans, shop around and compare rates with different lenders. By doing this, you can see which lender offers the lowest rate with the amount you wish to borrow. It is recommended to know beforehand the amount of loan that is just right for your budget.
Compare other fees and loan features that might also be advantageous for you. Other features of the loan that you might want to know is whether it allows you to make early repayments. Some lenders charge a fee or apply a certain percentage of interest on your loan if you pay off your loan early.
Achieving good credit requires borrowers to take their responsibilities seriously. Those with high credit scores get the lowest rates in a loan offer. To achieve good credit, you need to pay on time and apply for loans you can afford. Once your credit rating improves, you can get low rate installment loans on your future loan applications.
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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Value For Money
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
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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.