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Borrow Funds Without Search Footprint With No Credit Check Loans

We understand your inconvenience on the credit check process because you share the feeling with many other people who have a bad credit history or no credit record. Having an unsatisfactory financial past makes it difficult to go through a credit check process. It is because search footprints can have an adverse impact on their financial records.

During a financial crisis in personal life, when they try to borrow funds, the lenders do a credit check, and more possibilities are of rejection. Past financial mistakes dominate the approval decision. As a potential solution to this problem, LondonLoansBank provides no credit check loans without any discrimination in the loan procedure or any additional or upfront fee.

How Do We Check Your Affordability?

Yes, that is the first question that the borrower asks from us when we offer them loans without any credit check process. To be rational in the landing procedure, we do a soft credit check. In this process, we scrutinise the recent financial behaviour of the fund seeker. We want you to see a clean and spotless record of timely payments of all bills. And it solves our purpose.

Repayment Capacity Is The Tool

Behind the process of taking your repayment capacity in the current times, your present-day income is important to us. The employment stability factor is working strongly to consider you for approval. It is significant if the applicant is with the same employer for at least the past 6 months.

Check Your Affordability

NO CREDIT CHECK LOAN FEATURES

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    NO location bias

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    Payment holiday applicable

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    Flexible repayment plans

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    Seasonal offers available

Policy For Obligations

No credit check loans are short term small loans. It is why they do not need the packing of any obligation, whether it is about a guarantee or collateral. Nothing is required to back your loan application. The most important thing is your repaying capacity against the borrowed amount. If that is part is strong, then you can stay relieved about your approval decision.

What are No Credit Check Loans in the UK?

Poor credit history can be a roadblock when you need money for emergency purposes, and sometimes it is so bad that you cannot afford to lose more points while processing your loan. Therefore, LondonLoansBank provides no credit check loans in the UK.

As the name suggests, these loans require no credit assessment to lend you money. In other words, you can say them payday loans with no credit check. As perusal to your credit history, you cannot borrow a large amount of money. However, there are some other conditions that you will have to meet to qualify for these loans from us.

  • Despite a poor credit rating, your latest default must be three-months-old.
  • You must have been working with your current employer for at least six months.
  • If you are self-employed, your business must be one-year-old and make profits.
  • You must currently not have any other outstanding debts.

We provide small loans with no credit check to all subprime borrowers, provided you can manage your debts on time.

Types Of No Credit Check Loans

No credit check is a facility for borrowing funds without any credit score of the user or without leaving any search footprint on your financial records. This facility accompanies many types of short term loans which you can read here.

  • Bad credit loans – No credit check process was specifically designed for people with bad credit history. If you want to borrow funds with a poor credit situation, then no credit cooperatives is a common facility to be available with direct lenders.
  • Mobile text loans – Mobile text loans are destined and designed for very small and instant needs. You send a mobile text message to the lender, and you receive funds in your bank account. This speedy process has no space for time taking procedure of credit checks.
  • No guarantor loans – Borrow funds without any backing of a guarantor and for a short term purpose. We can offer all short term loans without any credit check process. It becomes almost necessary to add this feature to offer better comfort to the borrowers.
  • Payday loans – Known for their instant nature, payday loans cannot match with the lengthy credit check process. It is the reason that they come with the convenience of soft check of financial records. It is suitable for a loan like this to bring funds in just one hour.
  • Unsecured loans – Again, a short term lending option that raises no need for the lenders to go through the detailed scrutiny of the financial part of the borrower. Here also, the current reaping capacity is important and not the collateral.

Other Features That Come With No Credit Check Loans

Have a look at the most promising features of no credit check loans that can offer you instant prevention from a money crisis.

  • Dedicated relationship managers, you are never alone in your loan journey. Once you are approved, we assign you a relationship manager who stays throughout the tenure and solves all your queries and doubts.
  • Fund disbursal on same day, we understand the feeling of urgency when money crisis happened. Short term loans can be useless if they fail to provide timely funds to the borrowers. In most cases, we transfer the funds on the same day.
  • Change repayment plan during tenure, most of our borders find it an exciting feature. During the loan tenure, if they face any difficulty in paying monthly instalments, they contact us. We change the repayment schedule according to their comfort and their financial situations.
  • Commitment to information security, we are providing loans for years and have achieved the trust of our customers. We are fair in our approach. Whatever information you provide to us is always safe with us, and we never transfer it to any third party.
No credit check loans uk

Why To Choose Our No Credit Check Loans?

We can show you some rational aspects to explain why you should choose us to borrow through no credit check loans.

  • Quicky and transparent procedure – it is very important for us that you trust as and for that, transparency is our principle. Besides that, we want you to feel relieved, which we fulfil through a speedy loan procedure.
  • Available on festivals and national holidays – We are never off duty because we are direct lenders. Whether it is a national festival or a national holiday, you will always find us right here lending money when you need it urgently.
  • Understandable terms and conditions – Next-generation online lending makes everything easier in terms and conditions. The borrowing procedure is simple and goes through to an understandable process in few speedy steps.
  • Special offers for new and existing customers – We have something for everyone, new customers who keep hope from us. Besides, the existing ones with a good repayment history always find special offers to borrow through cheaper deals.
  • Dedicated team to support 24x7 – Whether it is early morning or at midnight, if you have any doubt about your current loan or a new loan, you can take two ways. You can call us or interact with other smart chatting executives available round the clock.

How To Apply For No Credit Check Loans?

Here is the simple procedure to apply for no credit check loans through a predictable and short application procedure.

  • Fill the form on our website, which is short and need only basic personal and financial details. Once you fill in the details, click on submit.
  • Receive approval decision after the submission of your loan application. We send you the lending decision in just 10 minutes. It should not be a long duration for you to wait. Right?
  • Approved? Receive funds once you get approved. We transfer the funds to your bank account through an online transaction. The fund transfer happens within 24 hours. Always speedy and clear.

Who is Eligible for Loans with No Credit Check?

Like banks, online lenders also have applications with credit histories, but they are more flexible than banks. Although a couple of online lenders provide loans with no credit check, they are meant to be a good choice when:

  • No money is left before payday

    You can seek bad credit loans with no credit check when you run out of money before the payday. As you do not have to borrow a large amount of money, the nearest payday can act as a guarantee for the approval of your loan. We will work on your employment status and monthly salary to decide your affordability. You can choose between lump-sum payments or instalment payments.

  • You need it for urgent reasons

    There are circumstances when you may need to borrow money immediately. The traditional lending system will keep you awaited for at least a week, while it is not possible to wait for such a long time during emergencies. This time no credit check loans in the UK from a direct lender can help you tide over. You just have to fill in the application form online, and you will get money within an hour.

  • You need a small amount of money

    If you need a small sum of money, loans for bad credit with no credit check can be an ideal funding source. These loans carry high-interest rates, and the repayment term is also small, so it will not be possible for you to manage payments.

  • Alternative loans are unavailable

    There are various types of small loans you can consider applying for in the time of emergency. It can be quite tough to qualify for those loans because of poor credit history. If you cannot put off your plan, applying for a no credit check loan makes sense.

LondonLoansBank believes that you apply for these loans only when there is an emergency and assure you that you will get money at the most competitive interest rates.

Are No Credit Check Loans Expensive?

A lender looks over your credit history to see your past payment records. This gives an idea of your financial behaviour that helps decide how much interest rate should be levied. When you apply for loans with no credit check, a lender will just run soft inquiries. This increases the risk to the lender. Therefore, these loans carry a slightly higher interest rate than standard bad credit loans.

If you apply for these loans with us, you will be able to avail them at lower interest rates than the market rates. Our current APR is 292% fixed, which is far lower than other lenders that may charge up to 391% and even more than 521%.

The following table will give you an idea of how the total cost of these loans varies by the loan term, assuming that you have not missed a payment.

  Borrower 1 Borrower 2 Borrower 3
Loan amount £1000 £1000 £1000
APR 292% 292% 292%
Loan term 10 days 20 days 30 days
Amount to be paid 108 116 124
Interest payment 8 16 24

When you apply for these loans with us, you will not get any hidden surprises. Everything will remain transparent between you and us.

FAQ

Are No Credit Check Loans Safe?

The term ‘no credit check’ is nothing but a simplified version of a soft credit check. It is one of the two types of credit check, i.e. 1. A hard credit check and 2. Soft credit check. In the second one, the lender replaces the credit check process with the other details it takes from the borrower. These are – address details, employment history and monthly salary.

Where can I get a loan from with no credit check?

Credit check has been an essential factor in loan approval, especially when it comes to traditional lenders. Nowadays, the modern-day direct lenders have changed the scenario a bit by accepting the loan applications with no credit check process. It means you can get the no credit check loan from the direct lenders.

Under this procedure, the lenders do not go through your past credit history; instead, they focus on your present financial circumstances and capacity. These are the short-term loans and primarily applied during financial emergencies. Payday loans are the best example of it where the borrowed amount is small, and no credit perusal is done.

How do I get a loan with bad credit and no guarantor?

Having a bad credit score means you have limited funding opportunities to explore as compared to those with better credit record. The lack of guarantor during this time adds more misery to your circumstances. But there is no need to worry because some private lenders do offer loan with bad credit and no guarantor.

What happens if I do not repay the loan on time?

It is mandatory to repay the loan on time because otherwise you will have to pay late payment fees. It will add up the cost of your debt and if you continue to make defaults, our agents will start chasing you through emails and phone calls. Credit bureaus will be informed of your defaults and as a result your credit score will go down.

I need urgent money. How long will I have to wait for that?

All our loans have been designed to help you during financial emergencies. We know that you cannot wait too long when you need funds for an emergency purpose. Therefore, you will get money the same day you apply for the loan. You just have to fill in the application form online. We will quickly analyse your affordability and send you the agreement with all term and conditions. You will get money in your account as soon as you sign the agreement and send it back to us.

How much can I borrow from LondonLoansBank?

The minimum amount you can borrow from LondonLoansBank is £1,000 and the maximum amount you can borrow depends on the type of loan you have applied to and your affordability. We will check your affordability before approving your application. If we find that you cannot afford to pay back the debt, we will offer you lower money, suitable to your budget.

Do I qualify to take out a LondonLoansBank short term loan?

At the time of applying for a loan, you will have to meet the eligibility criteria. If you want to take out a short term loan with LondonLoansBank, you need to meet the following conditions:

  • You must have come of age.
  • You must be the permanent resident of the UK.
  • You must be employed.

If you are unemployed, you should be able to give a proof of passive income. It can be your part-time job or freelancing.

Am I Eligible to take out a loan even if I have bad credit?

Yes, you are eligible to take out a loan even if you have a bad credit rating. Financial emergencies can catch anyone off guard – bad credit people are no exception. Therefore, LondonLoansBank accepts applications from bad credit people as well. However, you will be paying higher interest rates compared to those with good credit rating. You can still get these loans at competitive interest rates if:

  • You have a strong repaying capacity and
  • You have not made a default recently.

LondonLoansBank provide loans to even bad credit people at competitive interest rates.

Can I get another loan, if I have already taken out a loan?

Yes, you are eligible to take out a new loan when you have already a debt to be paid off. However, we will check your credit rating and affordability before approving your loan application. It is generally suggested that you avoid taking out another loan within a very short timeframe as this will affect your credit rating and the lender will be skeptical of your repaying capacity.

Will you charge for Late Payment fees?

When you do not repay the debt on the due date, you will have to pay late payment fees. You can avoid it if you inform us at least two days before the due date. If you have a genuine reason for being unable to pay down the debt, no late payment fees will be levied and a revised payment schedule will be shared with you for manageable payments.