Warning: Late repayment can cause you serious money problems. For help, go to MoneyAdviceService.org.uk
Welcome to LoansChannel

Apply To Borrow from £100 to £25,000*

  • Apply For £ 50 - £ 1,000
  • Fast Payout
  • No Fees
  • Secure Application
  • Available 24/7
  • Bad Credit
  • PERSONAL Loans
  • SHORT TERM Loans
Representative example: £500 borrowed for 5 months. Total amount repayable is £999.85 in 5 monthly instalments of £198.37. interest charged is £491.85, Interest rate 236.1% pa (variable). Representative 481.6% APR.

What Are
Unsecured Loans?

If you don’t have any collateral for a loan, the best option you have is an unsecured loan. Going for an unsecured loan requires no collateral to be approved. However, interest rates are slightly higher than secured loans. Typical unsecured loans are credit cards, student loans, payday loans, and more. Lenders don’t need to do a credit check but interest rates may depend on your credit standing.

Secure Process

The platform is highly secured and protected. You don’t have to worry about the information you provide. The information provided online passes along a secured channel that ensures data integrity and prevents it from being compromised. It is guaranteed safe and secured.

Paid Into Your Account

The payment goes directly to your account fast and without hassle. In just a few minutes, you’ll get the funds that you need when you need it. You don’t have to visit banks while waiting for hours just to get an approval. It is the most convenient way to borrow funds in case of emergencies.

Credit Problems*

Your credit won't be a hindrance when applying with us. The lender doesn’t do credit checks. It is available to everyone regardless of their credit levels. So if you're hesitant about applying for a loan, don't be. Even with poor or bad credit, you can still borrow the funds you need whenever you need it.

DO I NEED TO HAVE

A COLLATERAL

Having no collateral to provide, you are still eligible to apply for an unsecured loan. However, in most cases, borrowers with poor credit history tend to have higher interest rates. The repayment terms can also get a little difficult for them. Still, this is the best option available especially during emergency cases. Unsecured loans are available to borrowers even without any collateral as a security deposit.

WHAT ARE

UNSECURED LOANS?

Examples of unsecured loans are student loans, credit cards, payday loans, signature loans, small business loans, peer to peer loans, and more. Lending companies cannot seize a borrower’s asset if they even fail to make a payment or miss several payments. However, lenders may take you to court in an event where you can’t fulfill the terms of the loan. Failure to meet the terms could severely affect your credit and may prevent better credit opportunities in the future.

Reasons why People go for Loans

While there are a lot of people that have fallen into some serious debt traps, debt in itself is not all bad when used and managed right, it can be a very effective tool and resources that make it possible for people to get access to extra funds for substantial purchases and expenses that they do not have the means to cover in cash. Below are some of the reason why loans are necessary. 

To purchase a house

A house is a huge investment. A huge purchase like this would require a considerable amount of money-something that no one would usually have access to in cash. This is the reason why people turn to banks and lenders to secure a mortgage. This way, they can secure the necessary amount needed to make the purchase while being able to enjoy the convenience of paying back the loan in affordable monthly repayments over a period of several years. 

To buy a car

A vehicle is another investment that will require a huge sum of money. Loans can be a great way of financing the purchase. You can take out a personal loan from a lender to cover for the car purchase. This means that you own the car outright the moment you step out of the dealership. Then you will just have to spread out repayments monthly until you get the loan fully paid off. 

To cover emergencies

There are all types of loans out there that could easily fit your financial need. Despite how much you work hard towards staying financially afloat all the time, you’ll find that there are instances when you cannot always rely on your savings to cover for any monetary emergency. Loans can do that. Short-term, quick loans with easy requirements and quick approval are available these days to make it easy enough for you to get funds even during emergencies. 

Regardless of the type of loan you wish to take out though, it is advised that you first consider how much you need and how much you can afford to pay for. Borrow only what you can afford to pay back to afford to experience additional financial issues in the future. 

Comparing Loans Can Help

When you have bad credit, you may feel like you have little to no loan options left. But thanks to payday loans, you can still have the financial assistance you need even with poor credit. However, a payday advance is expensive, therefore it’s important that you find the best payday loan for bad credit that will offer you the best rate.

How To Find The Best Payday Loan For Bad Credit?

  • Shop Around And Compare

This is one unwritten rule when finding a loan provider -- shopping and comparing various lenders first. While payday loans are typically expensive especially for borrowers with poor credit remark, you can reduce the overall amount you need to pay by looking for the one that offers the lowest interest rate.

  • Ask For Recommendations

While you can easily find lenders on your own over the Internet, you may still ask referrals from the people you know. Get answers from the people you trust and make a shortlist out of it, then compare. This way, it’ll be easier for you to find reputable payday lenders who can cater to your needs.

  • Check Reviews

One of the best ways to know more about the lender’s service is by checking the reviews they got from their previous clients. To do this, you can browse their website, check the loan provider’s social media accounts, or use the search engine to read honest feedback.

  • Contact The Lender

If you have enough time, you can visit the lender personally and ask the questions you have in mind. This will not only clarify your concerns but also, will give you a glimpse on how they handle customer inquiries. Otherwise, you may give them a call instead. Good customer service is one of the criteria you should look at when looking for the best payday loan provider for bad credit.