Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £300 for 71 days. One total repayment of £470.40. Interest: £170.40. Interest rate: 292% pa (fixed). 1301.2% APR Representative.
When you're considering applying for a loan, it's important to get specific. There are, after all, a variety of types of loans available to you: payday, short-term, no guarantor, instalment, logbook, and many more. The type you may want and the type you can get depend greatly on your own personal circumstances. One key category of loans is known as "unsecured," and describes a loan type that many borrowers take advantage of.
Basically, unsecured loans are loans that don't require collateral from the borrower. While many banks and other financial institutions will often require you to put collateral down for your loan, such as a home or car, or any item that you own and has some substantial worth, unsecured loans are given based exclusively on the borrower's credit. This means that should a borrower be unable to repay their loan on the agreed upon repayment date, a lender cannot take their possessions.
An unsecured loan can be a useful option for many borrowers, particularly those individuals who don't own possessions that are worth enough to serve as collateral. While a potential borrower's credit status could remain a factor, these loans should remain a consideration for individuals looking for financial assistance.
It all starts with research. Look into the online payday lenders available to you and the requirements they have for their borrowers. Don't consider just the technical aspects of what the borrower/lender relationship will entail, but try and get a sense of the lender's personality. It's important to feel comfortable and confident with your lender, as this is one of the best indicators that you can have a fruitful long-term relationship with them. Make certain that the lender has a history of customer care and evidence of data protection, such as McAfee SECURE™. By verifying these things, you'll be able to verify that you're entering into a partnership with a company that truly has your best interests at heart, if approved.
Nobody wants to find themselves in need of emergency funding, but life can often throw emergencies our way that require cash we simply may not have. If this is a situation you find yourself in, you may go hunting for unsecured loans so as to avoid the risk of giving up assets. But how do you ensure that the lender you choose is the right one for you?
At QuickQuid, our straightforward online application system was built with customers better. Our unsecured loans do not require our customers to give up their assets. With loan amounts available up to £1000,† and 3 repayment options to choose from, QuickQuid loans are designed to give customers options that fit their unique financial situation.
Authorised under the Financial Conduct Authority, QuickQuid is a lender with a proven track record of customer consideration. Our short-term loans are available with 1-, 2- and 3-period repayment options, giving approved borrowers the freedom to create a loan that works for them. Requiring just a valid UK bank account, UK residency, verification of employment and the borrower to be over 18 years of age, the stipulations to apply for a QuickQuid loan make them a real possibility for a variety of borrowers. With loan amounts of £1000† available for new customers, and £1500† available for existing customers, QuickQuid has helped hundreds of thousands of approved customers with their financial dilemmas, and should be an option worth considering in your quest for the right loan.