No, you cannot get a loan without the basic income. You may qualify if you receive income from benefits, part-time income, earnings from rent, pensions, or freelancing. It reveals that you can repay the dues; hence, you may qualify.
Are you afraid of facing loan rejection as you are out of a job? Maybe, it is difficult to convince lenders when you are jobless. However, CashFacts can give you an alternative way to deal with this situation. Feel free to obtain loans for the unemployed from a direct lender.
Here, unemployment will not play the role of a hurdle. Instead, it gives you the biggest reason to borrow. You can overcome this tough phase of your life by getting a loan for the unemployed in the UK without any hesitation.
There is no need to hold usual payouts when your wallet is empty after a job loss. You can acquire a free loan proposal. You get one as part of the basic affordability check. Getting one does not affect your credit score. It will lead you to the desired amount and term within a fixed budget. You will not have to regret it later if the loan offer is affordable with the following:
Being out of a job can be financially challenging for anyone. It does not matter to us if you lag in the employment criteria. You can apply for emergency loans for the unemployed in the UK right here without doubting your eligibility. Here is an example of APR on an unemployed loan:
| Loan Amount | Terms (months) | Monthly Repayment(in pounds) | Total Repayment(in pounds) | Interest(in pounds) |
|---|---|---|---|---|
| £1000 | 6 | 171.45 | 1028.72 | 28.72 |
| 12 | 86.97 | 1043.64 | 43.64 | |
| 36 | 31.26 | 1,125.30 | 125.30 | |
| £5000 | 6 | 857.25 | 5,143.67 | 143.47 |
| 12 | 434.84 | 5218.06 | 218.06 | |
| 36 | 156.32 | 5.627.39 | 627.39 |
Unemployment is a real situation for many people who run short of cash to meet daily necessities. An unemployed loan is the much-needed financial support designed for a jobless person deprived of traditional options. These loans intend to provide them with financial assistance to make life easy when they are between jobs.
Traditional lenders overlook the other money-earning possibilities that you might acquire. For this reason, they deny providing loan help. Nevertheless, we do not feel any risk in lending you money provided you showcase other ways of earnings.
Any income means rent, benefits, pension, freelance earning etc., and lets you fetch emergency money for the unemployed in the UK. What exceptional facilities can you expect from us? It is your overall experience with us in a nutshell.
The cash requirements may vary regardless of unemployment status. You may need one to pay a grocery bill or for lengthy repair work. Thus, you may get the money according to your needs and preferences. Check these loans for the unemployed from a direct lender in the UK and apply correctly.
| Parameters | Small loans for the unemployed (£100-(£2000 pounds) | Large instalment loans for the unemployed ((£2000-(£10000 pounds) |
|---|---|---|
| Loan purpose | You can use these emergency cash loans for the unemployed for critical emergencies like medical expenses | To fund major expenses like rent deposit, car repair, home repairs or debt consolidation |
| Loan term | 1-12 months | 12-84 months |
| Monthly repayments | Instalments are high on a short-term loan | Monthly repayments remain less on a long-term loan |
| Interest costs | You pay less interest on a small loan | Interest costs are high due to longer repayment terms |
| Credit checks | You may get soft credit check unemployed loans that do not affect your credit score. | You may face detailed credit screening, which may affect your credit score temporarily. |
| Collateral requirement | You do not need to provide or pledge your belongings to get instant cash loans | If you need a higher amount, you must provide collateral. It helps you get an instant approval with a high payout and low interest rates |
Every loan application is subjected to basic checks that determine your affordability. Thus, you get only an amount which you can repay without defaulting or affecting your basic budget. For example, if you qualify for only £2000 but want £4000, you'll only receive £2000 because that's what you can comfortably repay. It is a part of our mandatory responsible lending structure. You can also use a loan calculator to determine the approximate amount you can afford without worries.
What would it feel like to receive delivery of quick cash loans to your door as an unemployed applicant? Here, you must not treat yourself as helpless without a job. You can get one even with a basic or an alternative account that works well with a direct lending structure.
Getting loans in every situation would be possible for you. This way, we ensure that you receive financial help when you need the most. There are other ways we can amplify your borrowing advantages.
Paperwork-free process
With unemployment loans, the process is quite convenient and faster. It is not in the process to do a lot of paperwork. With an online interface, the application formalities are brief. Most importantly, they do not eat away a lot of time. Thus, you may get same-day loans for the unemployed in the UK marketplace. Limited documentation and proofs optimise the loan turnaround times.
Customised rates
Avail of this opportunity to get short-term loans for the unemployed at personalised rates. We will not impose any random rate on you. Besides, loans for the unemployed include no fees as processing charges. Our loan fee structure has clearly stated this. You can go through it to know you do not have to pay brokerage fees while applying with a direct lender like us.
Devoid of compulsions
We consider applications without guarantor or collateral, subject to income and affordability checks.
No critical criteria
If you looked into the eligibility criteria, you would find that we need some basic confirmations about you. The major focus will be on the correct age, residency and source of income. You may get a loan if you have a valid bank account that meets the standard terms.
Affordability-based lending decision
However, we will always base the decisions on fundamental soft checks. Whether or not you will get loans will depend on your affordability. The role of these checks lies here. Interestingly, this assessment does a crucial job without hurting your credit scores.
You will not blame yourself for being unfortunate if you know the best ways to utilise loans for the unemployed. There is endless scope for you to explore these loans. Be sure to have the right reasons to borrow money.
Do not be reluctant to allow these loans to cover your most unexpected crisis!
Treatment needs: Maybe, you do not have sufficient money to pay for the urgent treatment of your family member. Instead of wasting time seeking help from other ways, consider getting emergency loans for the unemployed right now. Here, you will not have to wait forever to receive money for treatment.
Moving expenses: You are looking for a new job in a new location. It means you must relocate all your belongings from one place to another. Do not worry about the cost of moving. You can manage it by borrowing a suitable amount of loans.
Maintaining vehicle: Your job hunting would require you to visit multiple places daily. It is impossible to go to different locations without your own car. However, it will be an additional expense for you during a crisis. Arrange money to maintain your vehicle with the help of loans for the unemployed.
Proceed in the credit rectification journey: Do not be surprised to know that you can also use these loans for this purpose! It is doable when you can bring the outstanding debts under your control. Therefore, when you disburse debts using these loans, you will take a step towards positive scores.
Counter educational needs: Students and undergraduates may check these loans for stationery expenses, examination fees or co-curricular fees. They may qualify for student unemployed loans UK / unemployed graduate loans by meeting the basic eligibility and affordability criteria.
As a borrower, you cannot borrow whatever options we present. It should match your requirements and financial circumstances also. For example, you will need small loans for the unemployed to meet petty cash requirements. It would be pointless for you to prefer an opposite loan option.
We respect your preferences. Therefore, we would like to show you some of the best alternatives.
Bad credit loans
Feel happy to utilise a unique opportunity where you can obtain bad credit loans with no guarantor need from a direct lender. Therefore, poor scores will no longer be your biggest roadblock. You can overcome it and reap the benefits like no guarantor requirement.
Debt consolidation loans
Unemployment and bad credit are enough to push you towards debt. However, now you can settle this problem by applying for debt consolidation loans for the unemployed. You can see how your jobless status does not prove you as less eligible for these loans. Rather it provides you with the scope to improve your financial condition by getting rid of past debts.
Guaranteed loans
Every borrower wants to confirm the chances of getting approval before sending out an application. Guaranteed same-day loans will let you accomplish this goal. You share a high likelihood of approval on these loans based on affordability. It will concern your recent financial activity, sincerity in your credit improvement journey and preference for an affordable amount.
Payday loans
Do you think getting payday loans for unemployed from direct lenders would be difficult? It is a common practice for traditional lenders. Experience the opposite thing by applying here with a little twist. See how your freelance income is recognised as stable income when obtaining loan assistance.
Unemployment is not the end of the world. You can improve your prospects of getting a loan despite CCJ, pending payments or missed payments in your profile. You just need to reveal that you can repay what you borrow. Here are some tips which may help you get bad credit, unemployed loans in the UK marketplace:
Provide correct information
Check the name, contact number, email address, and residential address before applying. Update your credit report with the latest information. It helps us tally the details with the proof you provide. It thus leads to immediate loan approval.
Borrow only what you can afford
Identify your loan purpose and the amount you need. Check your savings and how much you can afford to repay with interest payments. Borrow only that amount for the specific requirement. It reduces the risks for the loan provider. Hence, you may qualify instantly.
Get a guarantor
A guarantor may help you get quick loans for the unemployed with bad credit, cheaply. It is ideal to get one if you don’t meet the affordability criteria or have a low income. The person’s income and credit score prove to be the prime determining factor.
We will not treat your application differently just because you need payday loans for unemployed people on benefits in the UK. The same online procedure we need you to follow for loan application. One thing that you may rest assured of is the speediness of our approach.
No intermediary will interfere in our process. Loans for unemployed with bad credit and no guarantor claim from direct lenders comprise small steps like:
Introduction to an online form: Forget about queuing up at a branch or answering many questions as you do in the offline application. The online form consists of just one or two pages and enquires about much less information. The details that you will enter will have relevance to the application. We have cut short unnecessary information in the application. You can finish filling out the application, as the requirement is concise.
Final review before submission: Why this step? It is because when you look for loans during unemployment, you tend to hurry up to speed up the process unknowingly. In this endeavour, you often end up making unwanted mistakes. This cross-checking will ensure you do not leave errors in the application. It lets you rectify them then and there.
Way to submit: Once you are done and dusted, the final step would be to submit the application. It just needs a single click. Finally, we can take a tour of your application and run the necessary checks. After all this, we can decide if you should get loan approval.
You want to get unemployed loans from direct lenders in the UK. We are pleased to be able to get noticed by you. However, we understand that it is not easy to convince any borrower so easily. The fierce competition in the loan market is hard to ignore. In this situation, we must do the necessary practices to hold our ground strongly. We do not want to be a stereotypical lender. Rather we aim to provide exclusive services to our borrowers. With time, we are re-modelling our offerings. Find out why you must get loans for unemployed from lenders like us only.
Simplicity: We do not complicate our process to impress borrowers. Simple steps consume less time. Besides, they are easy to understand for the borrower who is already facing many complex situations and wants some relief.
Swiftness: When we are talking about speediness, we mean it. With us, you can explore loan options like same-day loans for the unemployed. If everything goes well with your application, swift approval is not difficult to achieve. Take care of the pre-conditions to qualify for loans easily.
Clarity: We give you an open platform where you can share your queries and feedback without hesitation. You can even receive a quick response from us based on your query. For further clarification, you can even fetch a free proposal from us.
Warning: Late repayment can cause serious money problems
No, you cannot get a loan without the basic income. You may qualify if you receive income from benefits, part-time income, earnings from rent, pensions, or freelancing. It reveals that you can repay the dues; hence, you may qualify.
You may qualify for a loan as an unemployed person if you demonstrate your ability to repay the loan on time. You should not have unpaid debts like payday loans in your credit report. Such heavy pending payments may affect the loan approval.
Yes, every loan provider checks your credit history to determine your affordability. They analyse the pending debts and income before approving the loan. It helps one define the amount you can fairly manage to repay on time.
If you cannot make timely repayment, it may lead to missed payments and loan default. This incident may provoke penalties, late payment fees and even CCJ ( County Court Judgement) from the creditor. A CCJ may impact your credit score as it remains on your credit profile for 6 years. You can always avoid it by getting an alternative repayment plan. It should align with your current repayment potential.
You may get an unemployed loan without a guarantor if you can afford the loan payments. Individuals with authentic and multiple part-time incomes, leveraging unemployment benefits, may qualify. We do not charge unethical fees and keep every cost transparent. Therefore, you may get unemployed loans with no guarantor and no fees with us.
The criteria for assessment may vary across the providers. Income is not the only criterion that defines affordability. Here are other aspects they check:
Yes, you get the loan amount safely in your relevant bank account. We provide an authentic and encrypted transaction channel. Your information remains safe and is not vulnerable to third-party cookies or vendors.
Yes, we do.
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