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.
Taking out CCJ Loans no Guarantor in the UK
When you have bad credit or one that has a CCJ recorded in it, majority of mainstream lenders will only accept your request for a loan if you attach some form of security in it. When its a personal loan, this means providing a guarantor who will support your loan application.
Your guarantor is normally someone who shares a personal relationship with you like a relative or best friend. The person must also have a solid credit rating, a strong income level and is a homeowner in most cases to prove to lenders that they have the financial means needed to pay off the loan in case you default from them.
What are CCJ loans with no guarantor?
CCJ loans with no guarantor are typically offered in small amounts anywhere form £100 to £1,000 without any guarantor needed to back up your loan application. Guarantors where designed especially for borrowers with bad credit ratings as a means to provide security to the money that is being lent. Because guarantors are legally obliged to take over the loan and its repayments when the primary borrower defaults from them, lenders are more comfortable approving loan request even if they come from applicants that have adverse credit ratings.
Sourcing out a guarantor however, is not as easy as it sounds. First of all, you will need to find some one who has a strong credit rating and meets that other eligibility requirements for the role. The person must also agree to carry the burden of the loan in case you find yourself struggling to cover the repayments. There’s also the chance that your simply not comfortable in involving other people, especially those who are close to you, in your financial dealings.
With that being said, you can relieve yourself from all the hassle and drama involved in a guarantor loan transaction through CCJ loans with no guarantor. With this kind of borrowing, there are not outside parties involved which means you and you alone are responsible for your loan and its repayments as well.
Requirements for CCJ loans with no guarantor
Every lender offering the financial products in the UK have varying requirements for their borrowers. Typically though, they will include:
Being more than 18 years old at the start of the application
A citizen or legal resident of the United Kingdom
Employed and have an income that meets the lender’s basic affordability requirements
Have a valid debit account, email address and phone number
Once you have determined that you are eligible for the loan, simply submit an application online from any FCA licensed lender. Completing an online application form will take just several minutes of your time and once your done simply submit it. After a few minutes, you will then receive a response from your lender on whether your request for funding is approved or not. If you are approved, the funds will be transferred to your account shortly and should be ready for use within the day or the next business day!
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.