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 People On Benefits
Having a stable source of income is a primary requirement when taking a loan, therefore, those who are unemployed or are working on a part-time basis are having difficulties in taking an advance. Banks and credit unions are particular about salaries to ensure that they will get their money back, including the interest charged. So what will happen if one day, you become unemployed because of an illness and you have no other source of funds except for benefits – are you still eligible to take a loan? If yes, why will the lender risk their business and consider those who have no source of regular income? What else do you need to know about loans for people on convenience?
What Are Loans For People On Convenience?
There are a hundred of lenders online and each has their own criteria and purpose. Some only accept those who have collateral to offer, a high income, or an excellent credit remark. Meanwhile, there are those who are very lenient. These quick loans for people on benefit are willing to accommodate those who have a bad credit history or have just been in the United Kingdom lately. They use other factors to determine the creditworthiness of a borrower. This often means welcoming those who are working on a part-time or freelance basis, unemployed, and recipients of benefits.
Lenders who offer instant loans for people on convenience understand that this kind of people is not exempted from sudden expenses. Like everyone, they need cash to tide them over the next month.
Loans for people on convenience, like other types of advance, are used to pay for a number of necessities, such as clothes, food, or medical equipment. It can also be used for traveling or as an additional cash to fund an education. It is offered to those who are receiving benefits for at least 26 weeks. The amount you can acquire depends on several factors such as your marital status, the number of children you have, credit history, your savings, and your capability to give the loan back. When applying for loans for people on convenience, it’s important to provide the loan provider a proof that you are receiving an income support that may come from a pension credit, income-based job seeker’s allowance, support allowance, and the like.
Once approved, loans for people on convenience are sent to an existing bank account provided by the loan seeker, just like how a salary is delivered into an account. You can then use the money to pay for urgent expenses and everyday essentials. Loans for people on convenience are useful, especially when used wisely. After all, benefits are not enough to cover everyday expenses. The loan can be used to pay the rent, tuition, funeral, or maternity expenses. It can also be used to settle other debts such as credit cards or store cards. It is also helpful when you need extra cash for car repair or home improvement.
Why Lenders Provide Loans For People On Convenience To Those Who Receive Public Assistance
You may be wondering why there are lenders who are willing to help those who have no stable source of income. Apparently, most people believe that those who receive benefits are not eligible for a loan because they are either jobless or if they are employed, they receive a low income. Loans for people on convenience are intended for these individuals to assist them financially regardless of their credit scores or status. Also, lenders know that the government is consistent in providing welfare funds to its qualified recipients, thus it’s safe to assume that they have means to settle the debt. In fact, banks and credit unions see qualified people on benefits as low risk compared to those who are employed since those who are working are at risk of losing their job.
In addition, people on benefits are eligible to acquire additional funds aside from the welfare benefits they already receive. This allows them to settle other loans easily and quickly because they have an alternative source of funds. The best part is, applying for loans for people on convenience have become easier and quicker. Unlike before, lenders have become more flexible and lenient. But still, if you want your loan application to be smoother and less challenging, it’s best to check your direct credit report first. A good credit rating will always give you a higher chance of loan approval.
Where To Borrow Loans For People On Convenience?
If you’re looking for loans for people on convenience, the closest place to check out is the Internet. However, the government is still known as the safest source of advance because they follow strict regulations and are less likely to cheat their borrowers. Nonetheless, there are several loan options extended if the loan seeker is in need of cash to fund their daily and urgent expenses, repair their car or home, or pay debts that are due in a few days. You can talk to the department in-charge to know which option is available for you or turn to these loan providers:
Banks And Credit Unions
If you have been with your bank for a long time and have established a good relationship with them, you can consider them as your lender. The banker may offer financing options that match your needs and prerequisites on a better rate compared to the lenders online. However, if you have a bad credit remark, there’s a chance for your loan application to be declined, therefore it’s best to look for an alternative option.
Check Payday Lenders
Payday lenders are known for accepting those who receive payday check, thus it’s popular for those who are employed. Meanwhile, they also entertain individuals who receive welfare funds because they, too, are a recipient of regular income. Therefore, if you need quick cash, you can rely on these lenders who offer loans for people on convenience. Just be sure to look for the one who offers the lowest interest rate.
Bad Credit Lenders
Bad credit lenders are one of the most lenient lenders. They offer loans for people on convenience and also to those who have a bad credit remark. However, be sure to settle the loan on time and avoid any financial mistake so you can increase your credit rating. After all, a flawless credit report makes creating a new line of credit easier.
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.