No Guarantor Loans: Why & When You Should Apply For

When you face financial crisis and need instant cash help from the genuine source, you often have very limited options. If your credit history is also not much impressive or simply to say you have bad credit history, this situation becomes more complex. When you explore the loan options, the very first hurdle you see is to have a ‘guarantor’. You know well, what the answer you get by asking someone to become guarantor for your bad credit loan. Such experiences of people requiring instant cash help makes the no guarantor loans the preferred choice in UK.

What are The No Guarantor Loans?

A guarantor promises to the lending agency that the disbursed loan will be paid by the borrower in addition to signing a contract stating that if the borrower fails to pay back, he will pay the balance amount.  The lending agencies offering no guarantor loans do not ask you to arrange a guarantor that helps you keep your financial crisis a secret up to you.

The process starts immediately after you apply online for the loan with no guarantor. The experts analyze the primary and secondary parameters including income source, repayment capacity, repayment period, repayment process, supporting documents, late fees and the arrangement in case of failure in repaying etc.

Five Prime Benefits of Loans with No Guarantor:

The ‘loans no guarantor’ is popular search term in UK because the direct lenders respect the privacy of their clients. Apart from the removing the biggest hurdle of arranging a guarantor for loan, the no guarantor loans in UK benefit you in other ways also:

  1. No Obstacles and No Involvement of the Broker:

Involving a broker for getting the loans at the earliest seems a viable solution but the brokers charge   good amount of fees from the borrowers that makes the whole affair almost unaffordable. The regular financial institutions ask for a guarantor; therefore, if you have bad credit history better you do not approach these. The search terms like ‘loans no guarantor’, ‘no guarantor loans’ and ‘bad credit no guarantor loans’ etc deliver numbers of options to choose the direct lender.

  1. These Are More Flexible:

The direct lenders make the lending proposal according to the personal profile of borrower; therefore, these loans are more flexible in terms of repayment process and period. The leading direct lenders know the limitations of unemployed or the people in financial crisis, so, the funds are made available at easy to pay well-agreed personalized terms.

  1. These Are Sanctioned Fast:

The online process of applying for no guarantor loan is very simple. Because of less documentation, these loans are approved within minutes and the funds are transferred in to the borrower’s account within single business day.

  1. Better Scope:

The direct lending agencies dealing bad credit no guarantor loans also need the business; so, the eligibility criteria is kept simple. Any UK resident of 18-75 years age can apply; even the bankrupt and applicants with bad credit history are eligible.

  1. A Great Financial Help For Anytime Urgent Needs:

You can apply for no guarantor loans anytime to meet out the urgent requirements of extra funds without disturbing your other payment schedule. The stretched repayment period, normally up to 12 -24 months, gives you enough time to repay within scheduled period; otherwise, the repayment terms can be modified.

When and How to Apply for No Guarantor Loans in UK:

So, to get the no guarantor loans in UK is not a big issue but you must know the other side also that makes it important to cash this opportunity only when you need it to do. The interest rates of no guarantor loans are higher side if compared with regular loans. The direct lenders try to stretch the loan repayment period up to maximum; it seems good but you pay more ultimately. Therefore, you should apply for no guarantor loans in UK only if you cannot arrange a guarantor and you have no other option to manage the financial need.

The online process to apply for no guarantor loan is quiet simple. Asking for a quote from different agencies before applying for a loan of specific amount is a good practice to assess the repayment amount and capability. The scope of negotiation over interest rate and repayment period is always open, so, do not hesitate to save. The get the quick approval, you must fill all the credentials correct. It is also possible to get the loan approval earlier then you actually need the money in your account; you can specify the time for funds transfer.


The easy availability of numbers of direct lending agencies encourages the people to apply for no guarantor loans but very few assess their repayment capacity honestly just to land in soup. No guarantor loans are good to help you in acute financial needs; so, ensure to invest the received funds only for the intended purpose.