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| WARNING: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK. |
Your credit history is one of the most important factors
that help you avail a loan. In the absence of a good history your credit score
falls and you need to shed out more from your pocket for the loan. Besides, chances
of rejection are never ruled out.
So there is more that goes around for assuring you guaranteed loans. Never fall prey to
the scams that claim guaranteed loans or no credit check loans. FCA has
strictly made it mandatory to conduct a credit check before lending cash in the
UK.
Whether you need a loan for temporary financial emergency or
due to stress owing to bad credit history it is important to abide by all the FCA
guidelines. Credit check is the route for loan approval and availing a loan
without following an FCA guideline is never recommended.
Three important factors to be considered in every loan agreement
include the loan amount, rate of interest and duration. So rather than looking
for a guaranteed loan you should look for all these factors in the loan deed.
Besides use following tips:
Access your credit
report
Pull out free credit report from
one of the credit bureau and study your report. If there are any errors on the
report, raise the dispute to the credit agency and get the error corrected.
This would restore credit score in no time and you would become eligible for
loan soon.
Know how much you could
afford
After ascertaining correctness of your credit report, you
should assess your credit situation to find out how much you should apply for.
It is important to quickly study the net income in hand so that you know how
much you could repay as the instalment.
Instalment loans
When living cash strapped, it is important to know all
the expenses before hand and going for fixed interest rate is one way of doing
so. With instalment loans you know
how much you need to spend every month.
Repayment plan
You need to have complete ease of repayment as with added
convenience in repayment enables timely payment. With successfully repayment,
your credit score would improve and increase the credit worth at the same time.
Contact a broker
A loan broker can help you avail an affordable loan with
complete ease of repayment. Whether you seek a bad credit loan or a no history
loan, he would offer financial assistance on the best available deals. With an
FCA registered broker, you could expect a fair deal with a registered lender.
Brokers are professional loan advisors and can assure the
best deals around you.
No guarantor Bad
credit loans
In the absence of a good credit score, if you could present a high worth
guarantor or co signor it would add weight to your loan application. However
with bad credit history it is more likely to have no one to back your
application. Herein you are required to apply for No guarantor loan and a
broker can help you find a suitable deal.
All in all rather than looking for guaranteed loans you
should examine all the points of a loan agreement before sealing a deal.
