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Merits of 12 Month Loans with No Credit Check from Direct Lenders
by John Thomson on Sep 12, 2017
The short term financing in the UK includes several kinds of financial benefits for the people. They can avail funds quickly and that would be without indulging into too many formalities. Besides, there is no issue of poor credit history or no credit history of the borrowers while they are seeking for the loans. It is indeed an ideal way to secure funds. But at the same time, it is only possible with 12 month loans with no credit check from the direct lenders. If you look at the banks for such kind of financial assistance, you must be living in dreams. Banks or the traditional lending institutions are not in favour of such flexible funding because they are specific to their lending terms.
Unlike the banks, the direct lenders have more flexibility in their approach and they do not reject the loan applications of the borrowers. However, they do possess the right to reject the loan application of a particular borrower in the scenario of wrong information is mentioned on the online form.
Guarantor is not required for the loan repayments
The financial experts always suggest people to provide a guarantor because it can help them in securing funds for the longer duration and less interest rates. But it is also a reality that sometimes finding out the guarantor comes out as difficult. In particular, the borrowers with bad credit histories face such problem due to their lack of financial trustworthiness and no one would like to take their responsibility. For these people, availing loans quickly would become impossible. Nowadays, the financial opportunities are also available for these borrowers as they can secure funds through 12 month loans for bad credit with no guarantor claim.
Direct lenders are more flexible in loan repayment terms
The borrowers, who are in a bad credit situation, face a lot of difficulties when they require funds at most. Banks have already ignored their loan applications and asking funds from friends and relatives is not looking beneficial. In this tricky situation, exploring the marketplace becomes necessary because it allows the borrowers to get the perfect funding option such as 12 month installment loans. These types of loans usually have easy repayment terms, as the borrowers can repay the funds in convenient monthly installments. It further helps them in improving the credit scores to generate more funding option.
Obtain loan but with no collateral is possible here
Majority of the people believe that availing a loan would not be possible without submitting the collateral. But the things have changed now. The lenders are accepting those loan applications, which are not secured with home or vehicle or any other vital collateral. When the borrowers apply 12 month loans for bad credit from direct lenders, they earn an opportunity to apply loans without the collateral, which their home or car is safe. The interest rates might be looked expensive to them and the borrowed amount would be small, but borrowers have at least a chance to get the funds easily despite their credit scores are not acceptable.
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