Are you living pay check to pay check?

Are you constantly faced with unexpected occurrences such as car and house repairs?

bank cards

With no money left, your only option may be asking a family member or friend to borrow money. However, you just realised that you still have a few outstanding debts with those individuals. You are now left to power on whether you can obtain a small, short-term loan in a limited time period. Many companies can meet your financial need through the provision of 12 month loans with no credit checks no guarantor from a direct UK lender.

What are 12 month loans with no credit check?

Twelve month loans are short-term loans which allow you to borrow ups to £1,500 to cover expenses such as car repairs, house rent, or pending bills you may have had to delay due to a lack of funds.

Requirements for securing 12 month loans with no credit check

  • To qualify for a 12 month loan, you must be:
  • UK citizen
  • 18 years old+
  • Employed
  • Active bank account

Whether you have good, bad, or in-between credit score you can still apply for a loan as long as you fulfil the loans prerequisites. Applying for these loans is a very simple no guarantor by a direct UK lender. Visit the website of any 12 month loan provider, and complete the loan application. The form requires you to choose a loan option. These options include: Payday loans, cash advance, debt consolidation loans, consolidate a bill, home improvement repairs, auto-loan, and bankruptcy.

After selecting a loan option, you will be asked to provide the loan amount, your name, address, date of birth, home status, driver’s license information, cell/home/work phone numbers, e-mail, and the best time to call. Furthermore, you will be required to complete minor job or bank details.

Pro’s and Con’s

When applying for a 12 month loan no guarantor no credit check from a direct lender, you are not required to pledge collateral or security. Additionally, you do not have to worry about your credit rating, since the application is weighed heavily on your job security and your ability to repay the loan. Another great benefit of these loans is that your application can be approved within a matter of hours. Unlike traditional bank loans which can take a few days or weeks depending on the type of loan you are applying for.

Although your application may be approved within a few hours, you need not worry about having to repay the loan right away. You will be given a loan repayment tenure of one year.

For example: If you were approved for a loan in March, you would be required to repay that loan by February of the following year.

You can opt to pay the loan off within days or weeks of your approval; or you can repay the loan via monthly instalments. The only downside to acquiring a 12-month loan is the interest rates you are required to pay on the principal borrowed.

Note: Interest rates vary from lender to lender and may increase if you decide to extend your repayment plan for the duration of the one year tenure.