- Amount from £1000 to £30000
- Receive money on the same day
- Pre-qualified loan offers
- No impact on your credit score
- No pre-payment fees
Get your personalised loan offer despite any credit score
You may need to borrow money intentionally or unintentionally. Luckily, different sorts of loans are accessible to meet your personal ends. For instance, you have auto loans to purchase a new car, home loans to buy a property, student loans for educational expenses and business loans for start-up aspirations.
Sometimes, you require urgent funding to manage the expenses which do not belong to a particular category. In such circumstances, unsecured loans from a direct lender offer the much-needed financial assistance to fund planned and unplanned expenses. These loans are also beneficial in achieving personal goals or enhancing your overall financial status.
Obtaining an unsecured loan is always a helpful funding source when you need money fast. As you must be familiar that, these loans do not have the backup of an asset or collateral, qualifying conditions may be stricter than secured loans. Interest rates will remain competitive because you are applying at Everydayfunding, your loan partner.
Our flexible deals on unsecured loans offer convenience and generate possibilities for all to fetch funds at crucial times. Do not wait for more when you have the best deal available here.
When you apply for an unsecured personal loan, you get the approval through your financial credibility instead of collateral like property or a valuable asset. These loans are also called no-collateral loans and form one part of personal loans (as secured loans are another).
Your commitment and recent records work as the loan security, supported by your affordability to repay the loan. You can find these loans from mainstream lenders like banks, but direct lenders also support you. You likely face stringent terms of traditional lending institutions if your credit score is lower. It is where Everydayfunding, as the direct lender, helps you with a tailor-made unsecured loan for bad credit history.
These personal loans are also referred to as instalment loans. It signifies that you get the lump sum amount to borrow that you have to repay through fixed monthly instalments for a specific duration. Unlike other standard loan options, these no-collateral loans suit almost every financial purpose, and you will have no restrictions from our end.
The working pattern of these loans is entirely dissimilar to secured ones. Here are a few glimpses:
The final details on your unsecured loan will depend upon your affordability and creditworthiness. If you have been keeping a good or excellent credit score, then the best unsecured loan rates are there. Rates may be slightly higher if your credit score ranges between fair or poor credit.
We have received several secured loan applications from those with bad credit histories. They put an asset to fetch cheaper interest rates. Otherwise, unsecured loans are practical funding tools to avoid any further risk.
Here are the standard unsecured installment loan details at Everydayfunding:
| Criteria | Details |
|---|---|
Interest Rates |
7.25% - 26.99% (The final interest rate will be based on your credit score, loan amount, loan duration and affordability.) |
| Fees |
Upfront charges: Nil Early repayment charges: Nil after successful half of the repayments during the loan term. (You may have to pay late repayment charges, but they will be applicable after crossing the buffer period of 14 days.) |
|
Loan Amount |
Minimum amount: £1000 Maximum amount: £30000 (You may get a long-term unsecured loan, but a guarantor will be mandatory.) |
Loan Term |
Minimum Term: 36 Months Maximum Term: 60 Months |
Repayment Options |
Weekly and Monthly (You may opt for the automatic payment option to avoid missing any loan instalment, and you will get an interest rate discount.) |
Unsecured loans from direct lenders allow you to use the lump sum amount for any financial purpose. Whether it is about improving your home, consolidating multiple debts or any other requirement, you can apply without any collateral.
Given below are some frequent uses where these loans become helpful.
Debt Consolidation
The primary reason for an unsecured loan is to consolidate all the pending debts as early as possible. These unsecured debt consolidation loans are often cheaper than credit cards. Therefore, people want to rectify their pending dues through loans rather than credit cards. You save a good amount by using the loan, and the chance to pay off the debt instantly is always a possibility.
Funding study expenses
There should be no surprise that unsecured loans are quite popular among the students. The educational aspirants have limited income options. Consequently, they find themselves in several debts, which later prove difficult to eliminate. With the help of these private loans for students, they can get a good amount to manage study or living expenses without any collateral.
Home Improvements
If not the major one, these loans can cover urgent home repairs or improvements. It is a much cheaper option than a home loan. A bank may only offer you a home loan if you have equity in the property. On the other hand, unsecured loans will be a wise decision in such circumstances. If you need only a small amount, and that will be quickly, then these loans can be used for home renovations.
A major purchase or an occasion
Unsecured personal loans can fulfil your urgent need of funds, which you require for your wedding, family holidays or medical emergencies. You will get loans with lower interest rates than credit cards and be able to get higher loan amounts. The monthly instalments are also convenient to follow from your monthly income since we offer only affordable loans. Considering this point, you can also use these loans during vehicle purchases.
Starting a home-based or small business
Do you have small business ideas and want to implement them? Give your business ideas a significant boost by opting for our unsecured loans. The primary reason to go for these loans is that your personal credit score and income will hold significance rather than your business background. You will have assured lower interest rates. However, if you still want a specific funding option for your start-up, we also provide unsecured business loans for couples, young people or even retired individuals.
Preparation is vital when you want to qualify for these personal loans. However, feel free to contact us since you have approached Everydayfunding. We are flexible in our policies and want to help every individual.
Here are the factors to consider:
Other lenders may take an interest in your credit history and finalise your loan approval chances based on it. We also look at your past financial performance, but it will not be the sole criterion. We vastly prefer your current financial performance.
We would like to know your current credit score rather than the past one. However, if you do not submit your credit report, we have no objection since we prefer your monthly income and its affordability to pay back the loan.
Mainstream lenders or other loan firms may prefer your full-time income to grant you a loan. We, on the other hand, can accept your part-time income too. It means unsecured loans for the unemployed despite bad credit can be a possibility.
If you provide relevant documents describing your debt-to-income ratio, then it will make your loan application more attractive. Make sure you save time preparing papers, especially if living on a financial urgency.
You cannot escape from certain loan obligations to avail of a loan. Therefore, your credit score is vital to strengthening your loan approval chances. Primarily, the preference is around those individuals who have good credit scores. Still, options are there for unsecured personal loans for poor credit.
We have come up with more specialised deals, which bring the following bad credit unsecured loan advantages for those with less-than-perfect scores:
We do a soft assessment of your past credit, which keeps your credit profile intact. A few loan aspirants who have been good in their recent financial handling can qualify for unsecured loans with no credit check.
Our primary purpose is to ease the financial burden on your shoulders. Therefore, we are ready to accept your application for bad credit unsecured loans with no guarantor and interest rates are still competitive.
While getting unsecured personal loans with bad credit from lenders, you get an affordable loan amount and term. All these factors will improve your credit score since you will timely repay the borrowed amount.
You are fully prepared to go for unsecured bad credit loans by finalising the loan amount and term and going through all our lending norms. Time is to start the loan application by following this general process, which applies to all loan products.
Step 01: Pre-qualify for poor credit unsecured loans as we do a soft inquiry into your credit score that will not impact your overall financial record. It will also help you to get an affordable amount.
Step 02: You are now ready to start and complete your application online and scan only the necessary documents. We use a digital process that you can follow through your laptop or phone.
Step 03: You must wait only a few minutes to receive our lending decision. Suddenly, you receive a loan quote, think about it, and accept it.
Are you sure about your decision on unsecured loans for bad credit from a direct lender? Apply now...