When it comes to quick funding sources, the most common question that hits borrowers’ mind is whether loans with no credit check exists. Well, the straightforward answer from traditional lenders’ point of view is ‘no’ because they run a hard credit check to analyse your repayment capacity.
Thanks to direct lenders who have been lenient with lending policies and are giving priority to repayment potential over credit scores. No-credit check means neither hard inquiries nor soft inquiries. You will get funds as quickly as possible. Quick loans with no credit check mainly aim to fund emergencies.
Getting a loan without a credit check seems to be impossible with traditional lenders and they involve a lengthy procedure. You cannot wait to have funds if you need them for urgent reasons. Direct lenders provide cash instantly in case of emergencies. The processing is fast because it cuts down the time in running a credit check.
Quick loans with no credit check are easier funding source when your credit score is poor. Direct lenders will always want to have their money back, which is why it is paramount that they know you will not make a default.
Without running a credit check, a lender cannot know about your credit standing. Of course, the lender is well aware that your credit history is not stellar that is why you are applying for quick cash loans with no credit check, but it is a responsibility of lenders that they do not disburse money more than your affordability.
British Lenders provides these loans after looking over your income statement so that you do not borrow more than your affordability.
Like any other short-term loan, you need to fill out the loan application online. It will take hardly a few minutes. As you submit it, we will use our benchmarks for initial-stage approval. You will have to wait for a couple of minutes and then we will require you to submit your bank statement. After analysing your monthly incomings and outgoings, we will decide the disbursal limit. Once you agree to all terms of the contract, you will get funds directly in your account.
To apply for quick loans with no credit check, you need to follow these basic requirements:
Many borrowers believe that quick loans with no credit check come with very high interest rates because the lender runs neither of the credit check. This funding source charges a bit higher interest rates because of your impaired credit standing. Yet, British Lenders lend money at very competitive interest rates.
Beware of direct lenders who do not analyse your repayment potential before disbursing money. Otherwise, you will likely fall into a predatory cycle of debt.
You can borrow between £1000 and £2,500 depending on your credit needs and repayment capability. Note that the final disbursal amount will be decided after careful consideration of your income statement. You are likely to get less than you mentioned in your loan application as we give priority to your affordability.
Quick loans with no credit check aim to help you tide over during emergency when you feel the pinch. During emergency, you need funds as quickly as possible. These loans boast of same day payout. It can be possible only when we do not unnecessarily impose obligations on you. They require neither guarantor nor collateral.
British Lenders provide quick loans with no credit check at lower interest rates than mainstream lenders. Apply today!