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.
Direct Lenders for Poor Credit
There are moments in life when emergency situations just happen for no reason whether your like it or not. When you become confined in the hospital for days or your car breaks down without notice, you may find yourself with a hefty bill that you need to cover right away. What’s more, if you have a poor credit history, you may be denied for a loan from your bank making things even worse. In times like this, you can rely on lenders for poor credit for help.
What are the available lenders for poor credit that you can consider?
There are numerous direct lenders for bad credit loans that you can turn to if you need reliable funding and have a low credit score. Depending on your needs and present circumstances, three of the most popular options that you can consider include:
- Direct lenders installment loans for bad credit – The lenders will allow you to borrow a range of credit amounts from £100 to £2,000 that you can pay back in installments. There are no stringent checks on your credit file and lenders will normally cater applications from people with bad credit ratings.
- Direct lenders for bad credit personal loans – You can access large amounts of borrowing of up to £25,000 and pay back the money that you borrowed over an extended period for as long as 6 years. The financial products offered are generally affordable with low interest rates that can go below 10%. You will need to have an income level that can meet the basic affordability requirements to become approved. It may also take some time for your application to become successfully processed though. The fastest turn around time that you cane enjoy comes from online lenders which can have your funds ready for use in 48 hours.
- Payday loans from direct lenders – The guaranteed financial products that you can avail are short-term bad credit loans that are perfect for emergency funding reasons because of the quick and seamless process that they provide. Same day funding services are common and you can get qualified regardless of your credit rating. You will need to pay back the entire money that you borrowed plus interest rates in a short span, in 15 days or one month, however.
Direct lenders for bad credit qualifications
To become qualified for funding from lenders for poor credit, here are some of the basic things that you will normally need meet:
- Have an active UK bank account
- Be more than 18 years old
- Possess an income level that meets the minimum affordability requirements
Convenient emergency funding options
Direct lenders for bad credit generally provide instant decisions which means that you will immediately know whether or not you are approved without much delay. This makes them extremely convenient options in times of dire funding needs.
Emergency situations can happen anytime even when your taking day offs from work. Such instances may require you to borrow money and pay it back when you receive your next pay check or when things become better financially. For example, if you need to pay an urgent bill in a few days but you currently don’t have the money for it, you can rely on lenders for poor credit for a quick and convenient loan.
The kind of funding that you can enjoy will mostly be tailored to your present needs and circumstances. And because they are generally designed for emergency use, you can easily access them online without visiting any physical store or office. It can even cater different borrowers with unique situations including those who are self-employed, partially employed, and even unemployed and living from benefits.
The benefits of UK lenders for poor credit
Lenders for poor credit allow you to enjoy several benefits that you won’t find with other lending institution and credit services. Some of them include:
- Easy to obtain funding. Obtaining poor credit loans from direct lenders is relatively easy. There is normally no credit check from major credit reference agencies needed. And while the lender may still perform some check, this will typically be designed to confirm your income.
- Same day funding. There are many direct lenders for bad credit loans that can provide same day funding allowing you to cover any urgent bill on time. Not all lenders can give you the funding that you need in the same day you completed your application however, although you can expect to have it in the next business day in most instances.
- Bad credit is welcome. You will normally be given a repayment term that is ideal to your current financial situation. Once you successfully complete and submit an application, your lender will give you a loan option that you can choose to agree on. So you can get the right deal for the best price, you can compare different offers from as much direct lenders as you can find online.
What lenders for poor credit are looking for
Direct lenders for bad credit will look for borrowers who are financially capable to pay back their debt according to the agreed terms and conditions. Other lenders will also want to know if you currently have existing debts and how much they total. This will give them an idea if the loan they will grant you will become a burden to your finances or not.
Since the ability to make proper repayments is crucial, having a verifiable source of income is important to become approved. If you are employed, you can easily go about this by presenting your salary or wage slips. If you are self-employed, income statements and tax returns should do the trick. For unemployed people, you can present documents of your benefits as source of your income.
And don’t forget to become truthful and accurate in your application. Never present any information that is otherwise false or misleading. If you are not genuine about your personal and financial profile, lenders for poor credit will instantly know this once they begin conducting the necessary checks. If they find out that the information you presented in your application is misleading, they may decide to reject your application.