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A poor credit loan is the same as any other loan in that it allows people to borrow money so they can fund the purchase of a car, pay off some debts with a debt consolidation loan or just use it to make some home improvements. The loan comes in both secured and unsecured loan products although we are concentrating here for the moment on unsecured loans. The poor credit element of the loan is the fact that the lenders we use will allow borrowers to have various forms of adverse credit against them. Things such as CCJ’s, defaults, missed payments, arrears, etc and they design their loan products with these types of features built into them.

All loans are subject to status and even though you probably think you will fail a credit score if you have poor credit, lenders that provide these types of loan products design their products so that even people with a bad credit history will fit their criteria. The only thing to consider is that you pay a slightly higher interest rate with an adverse loan product but that is the same if you were applying for a mortgage as well.

To find out more about our poor credit loans, get in touch today by completing the simple form below.

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What is a pension loan?

A pension loan differs greatly from pension release for a number of reasons. The first one is that his scheme has nothing to do with releasing cash from your pension and everything to do with taking out a loan today and then repaying that loan only when the pension becomes payable. As long as the pension scheme you are discussing is a  personal pension then you are almost guaranteed to be accepted for a loan.

The other important thing to remember is that even if you have a bad credit history and have been turned down for loans and credit recently, it doesn’t matter because there are absolutely no credit checks at all. The criteria for a pension loan is simple: as long as you have at least £20k in your personal pension and at least £40k in your ex-occupational pension, you will qualify for a pension loan. Obviously there is more information that will be rquired to complete the process but this expalins the basic details.

So if you are interested in taking a loan against your pension, get in touch today and we will send you our fact sheet on, ‘how does a pension loan work?’

The important thing to note is that this product is quite different from other pension related schemes such as pension release and QROPS and you need to be fully aware of the facts before you make any decision regarding the suitability or otherwise of this scheme. Pension loans allow an individual with a personal or ex-company pension scheme to obtain a loan against their pension and borrow up to 50% of their pension fund. In terms of repayment, the loan can be repaid in one of two ways:

• The pension loan can be repaid every year and the interest rate is charged at bank base rate +5%
• The pension loan can be repaid in future years and if repayment is left until pension maturity then the interest is charged at bank base rate + 10%

In terms of the tax situation this pension loan scheme is considered to be an unconnected transaction which means it will not be subject to the higher, more punitive rate of tax applied to a connected transaction and the process takes about 6 weeks from start to finish.

You can find out more about a pension loan by enquiring here.

1. We will treat your application with complete confidentiality.
2. We will search the whole market and ensure we get the best rate for your specific circumstances.
3. WE WILL NEVER CHARGE YOU AN UPFRONT FEE TO APPLY FOR A LOAN.
4. We will call you back within 1 hour of submitting your online loan application.
5. We will contact you the moment we get a decision back from the lender, whether that is good or bad.
6. We will never pass your personal details on to anyone else.
7. We will always be available to take your call and will confirm all details by email and post.
8. We will treat you with respect and courtesy at all times.

Applying for a poor credit loan is fraught with problems as lenders all have different loan criteria and until you apply for a loan, whether that is an unsecured or a secured loan, you will never know if you will be accepted until you have applied for the loan. The lender will do a credit check on you and then assess your application based on ‘your individual merits’…this is lender speak for checking to see if they will accept you. Some things that can affect your credit rating are moving your bank account, changing your job a lot or moving to a full time job from a period of unemployment. Another thing that will affect your credit rating (which is rarely discussed) is having too much credit or applying for too much credit at once as no lenders like that and will often decline your loan application for that reason.

That is why applying for a loan with poor credit is not that easy however we are considered to be one of the UKs foremost experts on bad credit loans so applying for a loan through us will enable you to go through the loan process much quicker and without any stress. A poor credit loan is available in both secured and unsecured versions although the loans that we offer are unsecured bad credit loans as we are experts in this field. The process of applying for a loan is really simple…just complete the online application form here and we will do the rest. Once we get your enquiry we will call you straight back and then the work really starts. We will search the whole loan market and find the very best loan deal for your circumstances and unlike other loan companies, we will never, ever charge you an upfront fee.

We also offer our customers the opportunity to meet us at our offices in Manchester and if you prefer, we can go through the loan application face to face and answer any questions you may have. The other thing to note is that if you feel uncomfortable dealing with the loan applicationon your own then we would be delighted to discuss it with you and a member of your family, perhaps a close friend or neighbour, in fact anyone who can help you understand what the loan application is all about and give you the security and comfort you need.

Poor credit loans

The thing about most internet loan companies is that they will tell you that they deal with poor credit loans when they actually don’t as they will simply get your details and pass them onto another 9 or 10 companies. Here at loansquickly.co.uk we don’t do that. We will deal with your loan enquiry personally and ensure that your personal details remain exactly that, personal to you as we do not share our information with anyone.

Ther whole loan process is relatively simple and straight forward and we will ensure that we keep you informed every step of the way. So if you have a poor credit history and you need a loan quickly, call us today or complete our simple online form and we will help you get your poor credit loan paid into your bank as quickly as possible.

We help thousands of people get a loan even if they have been turned down elsewhere and really when you think about it, that should be exactly what we should do as a loan broker who has been trading for years on the internet helping people get  poor credit loans . So, please do not worry if you have been turned down before or you think you may well get turned down for a loan if you apply again, we have a very good reputation and we know what we are doing so whether it is a guarantor loan you are looking for or a pension loan, we can help you get the loan that you really need.

If you are looking for a loan and you are a little worried because you have a history of poor credit such as missed payments or county court judgements or defaults? Well don’t worry anymore because we can offer you a bad consolidation credit debt loan because we have a unique way of lending money to our customers that does not involve credit checks AND the rates are the same as you would find in any high street bank.

Another important feature of bad credit loans for self employed is that the rate of interest that borrower has to pay is higher. Since the degree of risk involved in the venture is higher, borrower cannot escape from paying higher APR. However, they can escape paying unreasonably high APRs through proper check. When using online loan calculator, borrowers can very easily compare between several loan providers operating in the UK.

Self employed may often qualify for a flexible loan. A flexible loan is one where borrower does not have to make fixed monthly repayments every time. They can overpay, underpay, or not pay at all. This feature goes well with the finances of self employed. The self employed do not get a fixed salary. They are running their own operations and the profit is what constitutes their income. The profit however is not stable. In some months they may be able to bring home a sizable sum as profits. In another months, they would have to go without anything. They would thus not be able to sustain the fixed monthly payments. Through a flexible repayment schedule, the self employed borrowers can easily integrate loan payments to their unstable financial structure.

Whether you have a history of bad credit such as missed or late credit card payments, mortgage or rent arrears, county court judgements (CCJs) or defaults, we can help you as we deal with every single lender in the UK and have access to special loan schemes and products that are not available anywhere else. You need not worry either that your loan rate will be extortionate as ALL of the lenders we deal with are subsidiaries of major UK banks and financial institutions but who will not have a high street presence.

In terms of the criteria for a poor credit loan, there are certain stipulations that we cannot avoid and they are:

You must be working at least 18 hours a week
You must be 18 or over

And that is it. Each of the lenders we deal with are set up to understand just what an adverse or poor credit loan application is so they will be sympathetic to your needs and of course they also understand that not every customer is the same, so they mix and match their loan products to ensure that they can offer you the best deal and best loan rate for your particular circumstances. However, there are a couple of things to note and that is you must be able to provide us with a 3 month proof of residency in the shape of a utility bill of some description and you must also prove your identity with a driving licence or passport. This is pretty standard for every single broker and lender in the UK and applying for a loan with poor credit is no different.
So if you want to find out if you can apply and qualify for a poor credit loan, get in touch today and we will start the loan process for you.

Cash in my pension

We do not advocate, endorse or advise anyone to cash in their pension and suggest that anyone who is thinking of this seeks out qualified and authorised advice from a pension specialist. We do however offer pension loans and these pension loans are freely available to anyone who meets the simple qualifying criteria which is…

Minimum of £20,000 in your pension fund

Company or private pension but you must have left the company scheme if that is the one you are proposing to take a loan  out against

And thats it. It doesn’t even matter if you have a bad credit history because there are no credit checks or credit scores to consider as pension loans are not the same as a typical loan you would get from a high street bank or loan provider. The fact is that as long as you meet the two qualifying criteria above then you are 100% guaranteed to get a pension loan. We should also point out that this scheme is completely different to pension release and again, we do not offer any advice as to the pros and cons of releasing cash from your pension because we do not offer such advice. A pension loan can be used for any purpose and whether it is for a holiday or a wedding or even if it is for something more serious such as paying your mortgage or rent to avoid eviction or repossession, a pension backed loan is ideal for anyone of the above.

For further details on how to cash in my pension just complete our simple no obligation enquiry form below.

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No fee loans UK

Just get in touch via our contact page and we guarantee that you will have a lovely fee free experience.

At last the financial industry is beginning to accept that not all consumers are going to have a great or even a good credit score. As the expectations lower, a lot of borrowers are finding that they are able to get hold of a poor credit loan even though there are often strings attached.

If a borrower had a bad reputation because they had a bad credit rating it would be beneficial for them to fix it first which will then in turn help them to get a better loan. it would be valuble for the consumer to try to fix their credit ratings by getting a free credit report before opting for a loan of any sort- it can save thousands in the course of a loan.

Lenders take an awful risk with those borrowers that have poor credit. It’s just a way for lenders to hunt out more profits, but to do so with a cautious sense of action. It’s common to see higher interest rates as a result of a poor credit history, but for the desperate borrowers who can’t get better loans,they will often have to settle for less.

If a borrower can find a break from the penalties they will endure, it’s well worth looking into it. One such break comes from the prospect of getting a loan with poor credit, this is where a loan is secured against one’s own home. This is a great way to prove to lenders that there will be less risk and more motivation to pay back the loan, and this will commonly result in better terms of agreement. Borrowers should keep in mind that it is possible they could lose their home, and they should only secure the loan with it if they are sure they will be able to pay the loan back.

One thing to make certain note of is predatory lending. Predatory lending is where lenders take advantage of the borrower due to unjust terms of agreement or through loopholes in contractual agreements. This is even more uncontrolled with bad credit loans, where lenders are able to get away with more because they are dealing with desperate borrowers. To help stop this, consumers should seek professional guidance before signing any deal for a poor credit loan.

It would seem like common sense to think that if a consumer didn’t need a bad credit loan, they wouldn’t obtain it. But this isn’t always the case, as we see some bad credit loans go to recreational behavior such as vacations or recreational vehicles. It can’t be stressed enough that this is a bad choice, unless of course the consumer already has the money to pay the loan back and is just looking to increase their credit rating with new loans.

In summary

There is much to consider when deciding on a poor credit loan. But the reality of it remains that if borrowers do not need the loan, they probably shouldn’t get it at all. This in itself will save consumers from getting into larger and less fixable debts in the future. If you find that no matter how much you look for a poor credit loan that you are still being refused credit, then why not try for a pension loan instead. This differs from pension release and will help you get some cash now and a bad credit history doesn’t matter.