A financial shortfall scares us all. And to combat with an urgent monetary situation, brokers and lenders have introduced short-term loans with no guarantor. Because to treat an emergency situation wherein the need to cover the financial expenses becomes unavoidable, people borrow funds and later they repay the borrowed amount.
Of course, you can always turn to friends and family for a financial helping hand, but many of us feel embarrassing of the act and do not go our near ones for help. Rather we consider opting for financial assistance from lenders and brokers. If you are in such a situation where you find short-term loans no guarantor attractive, we would suggest you do a background check of the lender or borrower. Always choose a lender or broker who is registered and authorised to carry out the lending and brokering services in the UK financial market by the FCA. Lenders or brokers who are not registered by this financial regulatory body may not be reliable and trustworthy.
First, we will go through a formal definition of a short-term loan with no guarantor, so that it will become easier for the readers to understand this whole article.
Short-term Loan No Guarantor
A short-term loan no guarantor implies to a loan which is taken for a short period of time and no guarantor is involved in the process. A guarantor makes a promise to the lender or broker that if the individual taking out the loan fails to make repayments, the guarantor will be responsible for the repayment of the loan.
Imagine a situation, where both you and your guarantor fail to make repayment. What would be the consequences? To ease the process of lending and borrowing, no guarantor loan is the best option.
Benefits of a Short-term Loan No Guarantor
Our team at Loan Broker has come up with a list of benefits that an individual may gain while considering short-term no guarantor loan. In the midst of your financial woes, if you are getting benefits, isn’t that something good? Let’s take a look at all possible benefits of this type of short-term loan.
- Constraint Free Loan
Short-term loan no guarantor allows people to borrow funds sensibly and in a carefree manner. There is no other person related to your debt and you own the sole responsibility to repay. Convincing a person to play the part of your guarantor becomes difficult and nobody gives in so easily. With no guarantor loans, you can enjoy an unsecured form of a loan.
The loan application process is very easy and convenient. Customers have to follow 3 simple steps to apply for a short-term no guarantor loan. Submit the form post filling it out and if approved the team contacts you for further processing and final approval of your loan.
- Affordable Repayment Schedule
Once approved, plan and schedule your repayments. This allows you to repay the loan amount in an easy-to-manage and affordable manner, which is completely hassle-free. You can plan your repayment schedule in such a way that it doesn’t disturb your other finances for the month.
- Customized Loan Deals
An individual seeking for a short-term loan no guarantor has the flexibility for customization of the loan. At Loan Broker, our team will help you out to customize your loan plan and agreement. You can now enjoy access to tailor-made loan plans which suits your preferences and current financial situation.
- Easy Access During Emergencies
These loans are easily accessible in case of an emergency as it doesn’t require a guarantor. So, you do not have to waste your time in finding and convincing a person to become your guarantor. Invest a few minutes on the internet and get your hands on quick cash to treat your financial emergencies.
There is no restriction on using the loan. An individual may use this short-term loan for any purpose. This loan is just financial support to cater to the unexpected emergencies that crop up in between.
The above-listed benefits are only the common benefits one can gain, it has many other benefits such as borrowing amount (you can borrow irrespective of your income), flexibility, lower interest rates as compared to any credit card, suitable repayment schedule, and its promptness.
Short-term No Guarantor Loans for Self-employed
Short-term loans no guarantor for self-employed has gained prominence over the period of time. This loan acts effectively to reduce the financial burden immediately and provides a substantial relief at a short notice. Because self-employed people find it difficult to cope up with the daily expenses due to lack of active income source.
There are many authorised brokers and lenders in the UK who are offering short-term no guarantor loans for self-employed people and Loan Broker is an FCA registered broker who deals with the same.
Pre-requisites to Apply for a Short-term No Guarantor Loan
Before applying for a loan, there are some general pre-requisites and the borrowers have to qualify them. A quintessential list of requirements are given below:
- A potential borrower must have completed 18 years of age.
- An applicant must be a resident of the UK.
- The interested borrower must have a valid and active bank account.
- A proof to showcase the source of income (previous and current).
There are a few other essential requirements which need to be checked and verified once your loan application is approved. Mandatory requirements such as credit check, and verification of the information provided by you in the application form.
Financial Assistance from Brokers
At Loan Broker, we have a team of experts who hear you out and answer your queries related to the loans. If you feel like gaining more knowledge about short-term no guarantor loan before applying for it, then do not hesitate to reach out to us. Our team will be happy to assist and guide you for all your financial queries.
Besides, the team also searches through a lot of offers and deals on loan and presents the most suitable one as per your needs and necessities.
A helping hand during your financial crisis proves to be very supportive. It is our continuous endeavour to make your experience a better one and we strive towards achieving the same. Loan Broker doesn’t charge any hidden fees or asks for any upfront fees from the customer.
Apply for a short-term no guarantor loan today and bid adieu to all your financial burden. Take out some time and manage your finances to get back on track.