Representative APR Example
£350 borrowed for 30 days. Total amount payable by one repayment: £434.
Total interest payable by one repayment: £84. Representative APR 1223.6% (Variable)
Loan
£0
Period
0 Day(s)
Interest : £0
Repayment : £0

Would resolve financial problems of non property holders

10 Mar 2011
Few years back, it was impossible to procure loans without putting any collateral. No lender could issue loans without taking possession of property as a mortgage exchange of loan amount offered to the borrower. This stringent measure did not really help in improvement of financial standards of the people. It is a fact that it is very difficult to manage the rising price levels with the single source of income. The daily expenses like groceries, payment of electricity, water and gas bills, payment of house rent, etc, would eat away more than half of your income. You would not have sufficient money to counter the emergency expenses like uncertain medical aid, unplanned trips, debt consolidation, etc. In order to reduce the financial burden of non property holders, unsecured loans had been designed for them.

If you have a computer with an internet connection at home or at office, you would be able to search for the lenders who would assure you to offer unsecured loans at competitive rates. You need to be wise enough to compare and choose the best deal. It would better to read the terms and conditions given in the print. Otherwise, you might land up with hidden costs. As a matter of fact, without putting any security, you would be liable to repay higher rate of interest but the loan amount would be sufficient enough to remove your pending debts. The loan amount would vary between £1000 and £25000. The repayment period would vary from 1 to 5 years.

If you sign up with Loans for People on Benefits for these loans, you can negotiate for higher amount and lower rate of interest. The loan facilitator would not verify your bad credit history. You need to fill up the following basic details online without paying any fee:

  1. You need to be citizen of UK.
  2. You need to have a stable job with income not less than £1000 per month.
  3. You need to mention your bank account details which should not be more than 3 months old.

Once you submit the form online, it would be verified and the loan amount would be transferred to the bank account.

Summary:

It is very easy counter the expenses as well as any asset with aid of unsecured loans. It does not provide any risk to the borrower to submit any property as a mortgage. You would get sufficient time to repay the principal amount and the rate of interest. Good negotiation skills would help you choose the best deal. Applying online would be free of cost and it would save your time and money.

The operator of this website is not a lender and does not make credit decisions. The information you provide will be used in securing you a payday loan with one of our carefully selected panel of leading Payday Loan Lenders in UK. The personal, financial and employment information that we collect is stored electronically during the duration of the application and is removed from our system upon acceptance from the lender.

We expect you to repay your loan on the date agreed, so if you do not think you are in a position to make your repayment, please do not apply with us in the first place. It is not worth risking your credit rating for such a small amount.

PLEASE READ TERMS & CONDITIONS OF LENDERS OR BROKERS BEFORE PAYING ANY UPFRONT FEES.

Please note that payday loans are meant to be used for short term financial emergencies and are not designed to provide long term solutions

Warning: Failure to meet your repayments can have serious financial consequences. For help, go to moneyadviceservice.org.uk