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%
Direct Lenders For People On Benefits
Disability and running out of cash often leads to borrowing a loan, and most borrowers depend on direct lenders for people on benefits to attend to this. However, there are no two similar lenders, thus it’s important to compare each before you sign up. This means checking their criteria to ensure that you can meet them, their rates, and their terms and conditions.
If you are confused about which lender to deal with, you can talk to a loan broker. These professional have a wide access to different loan providers, thus making it easier for you to find the right match. However, it doesn’t necessarily mean that they can give the lender you deserve. Confusing, right? So before you do anything, find out the pros and cons of direct lenders for people on benefits and loan brokers.
What Are Direct Lenders For People On Benefits?
Basically, direct lenders for people on benefits provide the direct decision in terms of the loan, thus the name. There are no intermediaries or middle person involved rather than the borrower and the loan company. The application for quick loans for people on benefits is sent to the same lender, verified by the same loan provider, and approved by the same company. It’s less complicated, fast, and simple. Below are some of its advantages:
- One-Stop Shop
Direct lenders for people on benefits handle everything when it comes to the loan application process, starting from the submission of the application form up to the release of the funds and even repayment. This makes the verification and entire loan application process quickly so you can have the money in the soonest possible time.
- Safe And Protected Private Information
Getting an instant loan online can be worrisome for most people and no one can blame them since they cannot see the other person on the line. This makes them hesitant to share personal and financial information but then again, online loans are fast and easy to acquire. If you want a safer way to share confidential details, you should opt for licensed direct lenders for people on benefits because you’re guaranteed that your information is not sold or shared to their parties, unless stated otherwise.
- No Additional Fees
Direct lenders for people on benefits do not charge any commission fees for their service, therefore if you need a cheaper alternative, they are a good choice. Nonetheless, you should not skip comparing different lenders to know who offers the best rates.
Although direct lenders for people on benefits have a lot of pros to offers, there are also cons to consider as well:
- Lower Approval Rate
Most direct lenders for people on benefits are strict with their criteria and if you have a low income or a bad credit, your chances of getting approved are pretty slim. To ensure a successful loan application, you need to exert effort in finding the one who will accommodate your requests.
- No Other Product Or Rate Options
Since you’re dealing with one company alone, the products and services they offer are the same. If you think it doesn’t meet your preferences, you can check other direct lenders for people on benefits.
What Are Loan Brokers?
Loan brokers are feasible options when you can’t find direct lenders for people on benefits easily. Rather than doing the shopping and comparing by yourself, the broker will do it on your behalf. They have a wide access to various loan companies, thus giving you a lot of options. They are also there to make the application faster and less complicated as they can help you fulfill the requirements, assist paperwork, and even stay with you until the direct loan is fully transferred.
Below are the advantages of a loan broker:
- Cheaper Rates
Some loan brokers may charge you with a commission fee, however, there are still brokers who will offer their service for free.
- Higher Chance Of Getting Approved
Loan brokers can help you find the right match since they have a wide access to different direct lenders for people on benefits. They can even get you a lender who will accommodate a bad credit remark.
- Saves Time
Almost all of the legwork is done by a loan broker for you, including shopping various loan options up to completing the paperwork. This will save you time and effort and a perfect choice when you have a limited time.
But like direct lenders for people on benefits, a loan broker has several disadvantages as well, such as:
- Limited Choice
Loan brokers may provide you unlimited options however, there are brokers who will only go for a particular just because of the high commission fee it provides. Therefore, the lender they offer might not be the best one for you.
- No Modifications
Loan brokers do not have the right to alter the terms and conditions of the direct lenders for people on benefits. Unlike direct loan providers who may reduce or waive fees or even extend the loan’s due date, the broker’s actions are limited.
Getting Payday Loans From Direct Lenders For People On Benefits
Whether you choose a direct lender or a loan broker, one of the quickest ways to get cash is with a payday loan. The short-term advance is unsecured and it will only require a few prerequisites from the loan seekers, such as a source of income and working bank account. If you’re unemployed but you’re receiving benefits or a pension, you may still get yourself a loan.
Despite the critics sending a warning to borrowers about the advance, payday loans are still beneficial. First of all, loan seekers can apply in the comforts of their own home. They can choose to not go out and visit a lending office; rather, they can just provide minimal prerequisites such as a stable source of income, a valid ID, and an active checking account online. Another one is the lenient requirements, which often skips credit checking. Even with a bad credit, you can still apply for a payday loan. With direct lenders for people on benefits, you can not only have the money you need but also, improve the credit remark you have. However, be sure to settle the loan on time and avoid defaulting on it.
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
Ease Of Use
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
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.