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Representative 305.9% APR. Representative Example: Loan Amount - £400 | Borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly installments of £187.31.
Interest charged is £161.92, interest rate 161.9% pa (variable)

Why People Choose Us

You might be surprised to hear just how easy it is to apply for a short term or personal loan. Furthermore, you don’t even have to leave your chair to apply for it. Instead, you just simply fill out our very short form and if you are accepted by a lender you’ll get your loan by the next day.

Getting approved for different cash loans in the UK

It’s no surprise that cash loans are extremely popular in the UK nowadays. The abundance of cash loan lenders that can easily grant virtually any borrower, whether the person has a perfect credit record or not, the funding that he is looking for in the same day simply makes it an appealing choice to anyone. What’s more, the majority of these lenders operate online which means you can access quick and reliable cash loans through the internet anytime and anywhere in the UK with your smartphone, tablet or computer. Now if you are considering on taking out the loan products to deal with different kinds of financial needs and purposes, here is a guide on how you can obtain and get approved of different cash loans in the UK.

Cash loans with a guarantor

A cash loan with a guarantor is a type of unsecured loan that is readily available from traditional lenders like banks and credit unions and private online lenders as well. Just like any kind of loan, you will need to make the proper payments but a second person will serve as a guarantor to guarantee that they will be made if you fall behind.

In many ways, a cash loan with a guarantor works just like any other type of unsecured loan wherein:

  • You have the option to repay your loan from 1 to 5 years.
  • You can borrow small and large amounts of loans anywhere from £1,000 and £15,000
  • There is an interest rate that will be charged for the loan that you receive
  • You will typically have to make fixed monthly payments

The only difference with cash loans with a guarantor compared to standard loans is that if you miss out on your monthly payments, the lender can require the guarantor to repay the loan for you.

Ideal options if you have poor or non-existent credit history

The presence of a guarantor reduces the risk that lenders will have to bear in a loan since they have a contingency plan if you default from your payments. Because of this, guarantor loans are ideal for borrowers who have adverse credit ratings or those who are still obtaining credit for the first time. If you are a fresh graduate for instance and have yet to build your own credit history, then you might want to ask your parents or a close family member to become your guarantor in a cash loan deal. And if you have trouble with credit in the past and tarnished your credit history as a result, cash loans with a guarantor can be a solid option to consider in securing the funding that you need.

Your cash loan guarantor

Virtually anyone can be your guarantor for a cash loan but the eligibility requirements would vary from lender to lender. There are those that are strict when it comes to accepting guarantors and there are those that are quite lenient. Typically, however, your guarantor should be:

  • Over 18 years old but other lenders require the age to be over 21
  • Someone who has a strong credit record
  • Not financially linked to you e.g. your spouse
  • A homeowner

Getting approved for a cash loan with a guarantor

Applying for cash loans with a guarantor is relatively quick and easy especially if you apply online. Most online cash loans with a guarantor are paid out within 48 hours after your application approval, but this can be delayed if your guarantor will not be reached by the lender, you live in Scotland or Ireland or you applied at the weekend. There are also lenders who will transfer the loan to your guarantor’s bank account for security reasons and to ensure that they agree to act as a guarantor on your loan deal.

When you apply for cash loans with a guarantor, here are some of the things that you can do to get approved:

  1. Determine how much you need to borrow. Lenders may decline your application if they see that what you are borrowing is too much based on your current situation. If they find that the amount you are requesting is too expensive for you to afford, they may decide to reject your application. You can also try borrowing less first to ensure that you will have the best chances of getting approved.
  2. Decide how long you need to pay back the loa You can pay back a cash loan with a guarantor between 1 to 5 years but this should be suited to your monthly budget to ensure that you can make the proper repayments and get the best chances of getting approved. Ideally, your monthly payments should not be more than 30% of your current monthly budget.
  3. Ensure that you and your guarantor are qualified. Every lender has its own unique lending criteria for cash loans with a guarantor so be sure to check them first before you apply. This will ensure that you are only applying for a loan that will give you a good chance of getting approved.

The cost of cash loans with a guarantor

Cash loans with a guarantor tend to have higher costs than normal unsecured loans since they are designed for people with poor credit histories. In the UK, the interest rates for the loans can be anywhere from 11.2% to 50% APR. The rates can also be higher than certain bad credit loans but so are your chances of getting approved because of the presence of a guarantor. This is why it’s important to shop around and look for the best rates first before you apply.

Cash Loans without a guarantor

There are two types of cash loans without a guarantor and it’s important that you know the difference of each to determine which one is the ideal option for you. If your credit rating is not that good but you have assets at your disposal (such as property, vehicle, or stocks), getting approved for a secured cash loan without a guarantor is easy.

By putting up your assets or one of your assets as collateral, the lender will have an assurance that the money will be paid back even if you default from the loan. This is because the lender has the legal right to take possession of the collateral and sell it to recoup the money that you still owe them in the event of a default. With such an assurance, the lender will be more comfortable in approving your loan application and granting you favourable rates and payment terms as well.

With an unsecured cash loan without a guarantor, on the other hand, you will need to possess an excellent credit score and a steady source of income since there is no guarantee or security in the part of the lender that the loan will be paid back. The loans will also have higher rates than a secured one since lenders consider it as a riskier option.

Determining your ability to repay the loan

So you can get approved for a cash loan without a guarantor, you need to demonstrate an ability to make the proper repayments on time and on the agreed terms and conditions. The loan must also be comfortable with your budget and must satisfy a certain debt to income ratio requirements. Some of the things that will determine your repayments and on your chances of getting approved include:

  • Your repayment term will be based on several key factors including your income, the interest rates on the loan and the repayment schedule.
  • You will need to share vital information regarding your income and monthly earnings and must be verified that it has been stable for a long period of time. Proof of income includes employment wages, social security, pension payments, alimony or child support payments, and rental income.
  • To get approved, you must first qualify on the amount of loan that you are applying for. This gives the lender that much needed assurance that you can make the monthly loan payments that meet the proper debt to income ratio requirement.
  • Your lender may require you to have a total monthly debt obligation, including your loan payment, that will not exceed 36 percent of your total monthly income. Debt to income criteria will differ from lender to lender and the type of cash loan without a guarantor but as a good rule of thumb, make sure that your total debt to income ratio does not exceed 30 percent before you apply.
  • Try to see if you have some assets in your possession that you can comfortably offer as collateral. They could be a savings account, stock, physical equipment, or other assets.

Cash Loans with Bad Credit

If you have a poor credit history, taking out a loan from a bank or traditional credit lender might not be a viable option. However, there are still other loan options that you can turn to in the UK today and they come in the form of cash loans for bad credit. Simply show the lender that you can repay the loan by providing verifiable proof of regular income and your chances of getting approved will be good.

Tips on being approved for cash loans with bad credit

While there is no such thing as a guaranteed approval when you take out a loan, there are certain ways in which you can improve your chances of getting approved. When you are applying for a cash loan in the UK and your credit score is not that appealing, keep in mind these following tips:

  • Make sure you are qualified. Every lender has its own unique eligibility requirements so be sure to check them first and see if you meet each one of them before you apply. If you want to be sure, you can call the lender to discuss your present circumstances.
  • Get a copy of your credit file. While it’s easy to assume that we have a good idea of what our credit histories are, your credit file is the only accurate reflection of your financial history and it’s also what lenders will rely on to gauge your creditworthiness. So try to get a copy of your credit file and see which types of loans and lenders will cater your need for a cash loan based on your credit rating.
  • Choose the right option. To avoid wasting your time and tarnishing your credit report because of numerous failed applications, be sure to focus your search for funding only on loans and lenders that will cater borrowers that have bad credit.


Online Cash loans with Bad credit

When you scour the market for cash loans with bad credit, it might be a good idea to rely on online lenders who specialise in providing cash loans to borrowers with bad credit. This is because online cash loans with bad credit will not only provide you with the best chances of getting approved, they also allow you to enjoy certain advantages such as:

  1. Online loan applications for cash loans with bad credit are quick and seamless. Normally, you can complete an application in a matter of minutes and get approved in a few hours. You also have the opportunity to compare an assortment of lenders, improving your choices.
  2. Minimal to no credit checks.Securing a cash loan with bad credit online allows you to access lenders who look at your financial situation rather than your credit rating when evaluating your application. And if your credit history is really that bad, you can even consider no credit check cash loans online.
  3. Straightforward repayment terms. You don’t need to break a sweat in making your repayments as lenders will mostly provide you with an efficient repayment system like direct debit repayments that will automatically withdraw the payments from your bank account.
Cash loans from a direct lender

There are plenty of direct lenders in the UK that provide various cash loans depending on your needs and present circumstances, whether it’s a cash loan with a guarantor, without a guarantor, or a cash loan with bad credit and many of them can be accessed online. Search for the lender that can serve you and your needs best, which can help ensure that you can get the best rates and terms possible. You can do this by:

  • Doing some research online and comparing different lenders and their offers and determining their qualification guidelines.

It’s absolutely important that you become honest and completely open with a potential direct lender to enjoy the best chances of approval. Sharing your present situation honestly can help you secure a reliable cash loan if the lender is willing to work with you. Keep in mind these two important points when you apply for cash loans from a direct lender:

  1. There are lenders who are willing to accept your loan application even if you have bad credit with alternative credit scores such as utility bills.
  2. Knowingly falsifying information or documents can result in prosecution.
Cash loans in the UK and cash loans with instant funding

Cash loans with instant funding are available online and for people living and working in the UK. Normally, you will need to have an active bank account and be over the age of 18 years old to apply. If you are approved, you will normally see your loan get transferred to your bank account on the same day without any extra charge. Some of the cash loans in the UK and cash loans with instant funding that you can easily access on the internet from specialist lenders include:

  1. Payday loans
  2. Same day personal loans and guarantor loans
  3. Doorstep loans
  4. Logbook loans
  5. Instalment loans
  6. Various short-term loans

Before you apply for cash loans in the UK and cash loans with instant funding, make sure that you understand full well what the terms and conditions are. If you have any question about the type of cash loan that you are considering, never hesitate to call the lender to clarify them all.

Online Payday Loans for instant funding

If you need cash loans in the UK and cash loans with instant funding, online payday loans are good options to consider. Lenders providing the financial products normally have websites that are engineered with advanced technology to ensure that your online borrowing experience is as fast, safe and convenient as possible. Some of the features of online payday loans include:

  • Fast and easy application processes online that can cater borrowers 24/7 and 365 days of the week anywhere in the UK.
  • Quick approvals with efficient checks to determine a borrower’s eligibility (there are lenders that can determine whether or not you are qualified in just a few minutes).
  • Provide instant cash loans to people in the UK using mobile phones or a desktop with a secured connection.
  • Same day funding if your application is approved.

You can even get approved for an instant cash loan through a payday lender even if you have bad credit. But while your credit rating might not be a factor in getting approved, it’s important to note that the lender will still conduct some checks to determine your affordability for the instant cash loan and its repayments.