Unsecured Personal Loans - Defining As Per Modern Lending

Unsecured personal loans are perhaps the most applied lending products in the UK. Of course, reasons are plenty for their supremacy. Still, it is the comfort for the borrowers to get the money instantly and efficiently without putting their collateral on the verge of losing it in case of defaults.

From the procedure to the convenience of fewer obligations, the unsecured loans have all the ingredients to relieve a particular borrower from a specific financial problem.

  • Do you want more money to make your wedding occasion more special? Do it with these loans;
  • Never feel sad with less money while purchasing a new car. Fill the financial gap by borrowing from this option;
  • Fund your education right now and focus entirely on your academics;
  • Are you feeling overburdened with unexpected medical bills? Not to worry, apply now for such personal loans;
  • Want to purchase a gadget to gift someone or for own use? Go ahead with your plans with no financial deficiency.

You can see here what unsecured loans in the UK can do for you. We, as the responsible direct lender, vouch for the best and bespoke deals on these loans. You can borrow from £1000 to £25000 with the maximum term of 60 months.

Should I Choose Direct Lenders For Unsecured Loans? ‘Yes’

As we already said ‘yes’ to your question, but it is true that direct lenders are the perfect source to avail a loan on acceptable terms and conditions. We feel proud to be part of the modern-age lending where everything is accessible for every borrower, irrespective of credit score or employment status.

The traditional lenders are also offering personal loans, but they usually have fixed norms to serve in front of every borrower. Besides, they are comparatively strict towards the low credit profiles. On the other hand, online lenders have opened their gates for everyone.

Easypolicy Loans (A Proud Direct Lender) Traditional Lenders
Lending deals according to the borrowers’ capacity The terms and conditions are generally fixed every time
Competitive interest rates with assured flexibility Fixed interest rates for each loan deal
Specialised loan deals for both homeowners and tenants Usually, the same sort of loan offers are available to apply
Borrowers with any credit scores can easily apply Preference is for the excellent to fair credit scores not for bad credit and very poor credit

Therefore, no doubt should be there why unsecured loans for bad credit people from direct lenders only can make a difference.

What Vision Is Here For Bad Credit People On Unsecured Loans?

We represent such lending platform where people with less-than-perfect credit scores can have the right deal with relevant outcomes. We are soft to our approach while ensuring unsecured loans for poor credit people and do not lay down the carpet of strict lending terms for them.

At here, you get the easiest of the lending procedure without worrying about your low credit score. Acceptance is also given to the individuals on the borderline credit score where there is always a chance of falling towards an adverse credit score. We save you from that position by offering the following loan benefits:

No Credit Check: As we told that we are soft to our approach, we do not approach any credit reference agency to check your credit score. It does approve that there is a maximum chance of guaranteed loan approval.

Loans for Any Purpose: Multiple expenses can hurt your credit scores like excessive debts or non-repayment. You can apply for our unsecured personal loans for bad credit for the intention of debt consolidation. Enjoy the attractive and affordable interest rate instead of paying for several debts.

Proper Guidance on Credit Score Improvement: We are blessed to have the most experienced financial experts, and they are always ready to assist borrowers in how to improve their credit scores with such lending options. You can take their fee-free advice.

Is Guarantor Compulsory Or Not?

Ensuring comfortable lending on every aspect without any restriction is our primary goal, and we have been continuously working to fulfil it at any cost. Our wide range of personal loans also includes unsecured loans for bad credit people with no guarantor demanded.

Such personalised loan deals make us different from other online lenders in the UK. We do not need any guarantor to give our nod to your loan application. Instead, your income status is enough for us to grant a loan without any need of finding someone to take your guarantee.

Do bad credit and no guarantor options increase the interest rate?

As a responsible direct lender, we only tell the truth to you, and it is our duty too. People with bad credit scores have to pay a higher interest rate than those having good credit scores. With no guarantor, things might become slightly challenging for you. It is here the importance of direct lenders come into the picture.

We are offering competitive interest rates, and the decision on the final interest rates is taken only after analysing the individual’s income capacity.

The minimum income is required to get the approval is £700 per month. Remember, we are also offering loans based on the applicant’s part-time income if he or she is unemployed with not having a full-time job. Our rates of interest do match your capacity, and that is for sure.

Can I Seek Unsecured Personal Loan Approval For Business Purposes?

When we say that our lending doors are open for every borrower, we mean that you have every right to applying for the unsecured business loans. The loan term and the interest rate are entirely based upon the annual returns that you are getting from your business.

Here are a few advantages of these loan deals:

For Small-Scale Business
There is a perfect chance to expand your business sphere in different cities in the UK. We are ready to fund you on every aspect as we have presence almost every county.

For Medium-Scale Business
Do you want to increase more infrastructures for your company? Go for it because we are here to give you the financial back-up with our business loans for which you do not have to put any collateral.

For Large-Scale Business
You might wonder, is there any long-term loan through the route of unsecured funding? Not sure about others, but we make this possible for you to enhance your large business more. However, you may need to have a guarantor with a good credit score to back the repayments.

Easypolicy Loans never shies away from any opportunity to help the borrowers in achieving their financial ambitions and needs. We are available with fully-tailored unsecured loan deals with the features that are helpful for you in every given condition.

It is the time to start applying here and get the funds to your bank account within a few hours.

Unsecured Loans FAQs

What does it mean when a loan is unsecured?

When the borrower does not require any asset as loan collateral to pledge, then it is called an unsecured loan. It is primarily the short term loan and available online.

Are small business loans unsecured?

Yes, most of the times, small business loans are unsecured or depend upon the lender to lender. Since these loans are applied to fulfil the small funding gap, the lenders have no hesitation in offering them with no collateral required.

What is the difference between secured and unsecured personal loans?

  • The primary difference between secured loans and unsecured personal loans is that the first one requires collateral equal to the borrowing amount, whereas the latter one does not require so.
  • The secured loans usually have low-interest rates because of the pledged collateral. On the other hand, unsecured loans come with a slightly higher interest rate.
  • Secured loans allow borrowers to look for long-term funding, but it is not the case with unsecured loans, which are the best during the financial emergency.

How do I get an unsecured loan with bad credit?

Keep your income status alive and if possible, arrange a guarantor to seek an early and assured approval on unsecured loan with bad credit. Alternatively, you can choose a lender providing no credit check facility on the loans.

How do I eligible to apply for an unsecured personal loan?

It is effortless to qualify for the unsecured personal loan, but you need to follow these general conditions:

  • You must have passed through above 18 years of age;
  • You should be the UK resident;
  • You must have income source either full-time or part-time;
  • You must have a valid contact number and address;
  • You must have an active bank account.
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