Not able to get a loan due to your credit history? In the UK, money lenders might check your information several times. It is because the lenders have to confirm your creditworthiness. They check everything from your name to your credit history including your monthly earnings. Although all lenders check your credit history some provide loans to people with bad credit.
What is no credit check loans?
As the name suggests, no credit check payday loans are the loans where the lenders do no check your credit history. They check other information that proves your eligibility for the loan. These kinds of loans are the easiest and the fastest ways of getting additional finances for emergency requirement.
Who is the right lender?
A right lender is someone who will provide you with loans at a reasonable interest rate. LoanPig is a direct lender of payday loans and is fully authorized by the FCA. They charge a minimum interest of 0.8% and they only charge a one-time late penalty fee. They act as a lender and a broker so that you can choose from different financial products.
You can easily apply for a loan just by visiting their website and complete the whole process there. They are the best providers of UK payday loans online.
What information do you need to provide to your lenders?
To be eligible for a loan in the UK, you need to be,
- Over 18 years of age
- A UK resident
- Have a full-time employment
Since the lenders of no credit check payday loans do not ask for your credit history, it is very simple to apply for a loan.
You just need to provide to your lender details regarding the loan amount, your name, date of birth to confirm if you are above the age of 18, your address, your monthly income and expenses, your bank details about the account in which your loan will be transferred to, and your employment history.
Why do you need a no credit check payday loan?
Just because something bad had happened to your financial situation in the past, you must be restricted from getting a loan during emergencies. You can always take a no credit check payday loans as long as you have regular employment and can pay your monthly bills. Although all UK lenders carry out credit checks, some provide loans for those with bad credit.
LoanPig provides loans for people with bad credit depending on their financial situation and employment. Although they do a credit check it is not the main factor to decide if you are eligible for a loan or not. It is just that you might have to pay a higher interest.
Do direct lenders provide loans without credit checks?
No direct lender in the UK will give you a loan without checking your creditworthiness. Even if they are ready to lend people with bad credit, these checks determine how much loan you can take and what will be the interest rate.