Unemployment is indeed a significant setback to your financial life. There is no monthly income, and it brings a lot of challenges in handling various expenses. Another challenge that arrives is when you apply for a loan and get denial because you do not have any guarantor to back you.
Hardly any person would agree to take the loan guarantee of a jobless individual. For such circumstances, loans for unemployed with no guarantor come into the picture. These are specialised lending products applicable to unemployed people who struggle to find a reliable person as their guarantor.
These are the short term loans applicable during a financial emergency or when you need funds urgently. The approval is based on the part-time income or the benefits that the unemployed receive from the government.
Once you borrow funds, you can use them for various purposes. These include:-
You have one relief to qualify, i.e. applying for loans for the unemployed in the UK with no guarantor needed. However, it does not mean that you do not have any condition to fulfil. At RecentFinance, we have kept a few qualifying criteria but not the harsh ones. We think anyone can execute these requirements.
Once you qualify for the loans, your next query will be to know the application procedure. We have kept simple and straightforward steps to ensure no guarantor loans on instant approval. As being our prospective borrower, you should know that we accept only online loan applications.
At RecentFinance, there are three modes of applying for loans for the unemployed with no guarantor. These are:-
On our website: The primary way of applying for the loans is to come to our website and fill out a single-page online form. Only a few personal details are required, and submit it. Based on your requirement, we instantly revert to you with a suitable loan quote. Accept it and get the funds on the same day.
On your doorstep: We also offer cash at the door service to the unemployed, and there is no need for a guarantor. You apply online, but the procedure will be followed at your home and between you and our representative. The same agent will come to your home to receive loan repayment.
On your Smartphone: You can also utilise your Smartphone to apply for loans. It is the best option when you are in extreme emergencies. You can either open our website on your phone or send us a text message. You will get an instant response from us.
Many studies have proved that unemployed people have a particular concern about their credit scores. They usually have bad credit because of the least monthly income and the presence of many expenses.
To counter this situation, there is always a demand of loans for the unemployed with bad credit and no guarantor from a direct lender. We are the responsible private lender in the UK and offer the same loans with complete responsibility.
You must be wondering how these loans have become a possibility. We accept your loan application despite bad credit, no employment, and no guarantor if:-
RecentFinance offers personal loans for the unemployed with bad credit with full accountability. Therefore, you get the approval only on your loan affordability and with lots of benefits mentioned below.
We know that no obligation of presenting a guarantor has itself been a sign of relief for many unemployed borrowers. The acceptance of bad credit adds more to their satisfaction with us. This is not all because we offer unemployed loans for bad credit with no guarantor on benefits, which means a lot to your financial stability. Some of them are explained here:-
When you have lost your job, you lose the grip of your financial life. You research for a reliable lender to have unemployed loans with no guarantor with aspirations like:
RecentFinance knows well what challenges that you are facing currently. Therefore, you will find our loan advantages quite different from other direct lenders in the UK. With us, you get more and more facilities despite no full-time job and having a poor credit issue.
Long Term Funding: We can assign long term loans for the unemployed with no guarantor if you have submitted the loan collateral.
Guidance from our experts: You do not need to worry about any clause of a loan deal. Ask our loan experts anytime and without paying even a single pound.
More flexibility for first-time borrowers: We can be more flexible when we receive the loan applications from those applying for the first time. They can get reasonable interest rates and a great chance of building a credible credit history.
When you are looking for urgent funding, your research should be on direct lending. Approaching a loan broker is impractical, as it will add more burden to your already struggling finances. Come to us directly and start applying now for loans for unemployed with no guarantor.
We all know that there are various loan options available for people who are in a regular job and earning well. But the same is not true for people who are searching a job or are unemployed. If you are in the UK and have some financial problems while being unemployed, is there any loan you can take? Yes, there is.Unemployed people in the UK can take advantage of no guarantor loans and take care of their personal expenditure.
Being unemployed poses many difficulties in our day to day life from personal finances to paying rent and food. It is really not a good state to be in. However, there are loan options available for unemployed people in the UK and one such type is no guarantor loans which you can get instantly online. All you need to do is just go online and search for a lender at a competitive rate and apply there. Once you send the application, you will get the status update shortly. After your application got approved, the fund will be sent into your bank account within hours.
Though it is not a good practice to miss or delay your loan repayment, due to some reason people fail to repay the loan. There are consequences to this. If you fail to repay your loan, you might have to pay extra charge and interest on the missed payment. Failing to repay your loan will badly damage your credit score which will create problem in the future. If the situation becomes worse then you may get a CCJ also. You have to declare yourself bankrupt and might have to lose possessions. Hence, it is better to repay the loan on time and avoid complications in life.
Each lender has different terms and conditions for missing repayment. You must have gone through all terms and conditions before taking the loan. And you think you are about to skip the payment of your loan; contact your lender to inform them. They will look for options, can change your payment date and if possible can waive off some fee as well. After all, they want their money back and obviously will help you they sense of a chance of getting it.
That sounds really very good! This is definitely an attribute you should look when researching options. There are many lenders who give the option of early repayment. So it is better to take a loan from those lenders who let you repay the loan before schedule time without any charges. Most of the lenders will allow you to pay early but some may charge extra money because of probable loss of interest for them.
Definitely, you can get a no guarantor loan if you have just started a new job. As you know this type of loan is for a small amount without any collateral. Also, this is the best choice for an unemployed person. Though, lenders charge a high rate of interest. They are only concerned about your income and since you just started a new job means you can pay them back on time. So, it is not an issue for lenders to offer you no guarantor loan.