At Advanceloanday, we have bespoke options on unsecured loans. With these loans, you can easily cover planned and unplanned expenses and repay the borrowed amount over a convenient period of up to 60 months.
You can apply for unsecured personal loans up to 40000 pounds here, depending upon your circumstances and affordability. You must submit an online application to know your qualifications and then apply for the loans. We practice a soft search policy that does not impact your credit profile.
We offer pre-approved unsecured personal loans for bad credit people. However, they must show their capacity to repay the loan on time.
Unsecured personal loans are a form of lending that is not secured against any collateral like property or vehicle. These are considered less risky for you, but at the same time, you have lower borrowing limits.
After sending an application, we analyse it and decide the amount to lend at what interest rate. If you receive our approval, money gets transferred to your bank account, as you are well eligible for availing of a loan here.
You can make proper use of the amount for any expenses. Later, you must repay the loan amount in fixed monthly instalments until the term ends.
Unsecured loan meaning is different from that of secured loans. It is where you need to put an asset like your home or car to secure the amount. Lenders possess the right to use that collateral to compensate the remaining amount.
Your credit history does play a vital role when getting personal unsecured loans. Still, you can get approval from us as we examine other factors, like your monthly income, before making the loan decision.
If you get unsecured loans with bad credit, you will have many advantages to explore. These loans have some basic features like flexibility in the loan amount and repayment terms. You will get many more benefits from unsecured loans, such as:
Risk-free borrowing
You are not at risk. Instead, your lender faces funding risk due to your poor credit score. It is helpful because you will not lose any assets if you default.
Instant decision
With no collateral to examine, we can assign unsecured personal loans for bad credit on an instant decision. Since we offer loans online, a quick decision becomes more real.
No guarantor
Applying for a guarantor loan may not be possible for those with poor credit due to their lack of financial credibility. At Advanceloanday, you can opt for unsecured personal loans with bad credit and no guarantor. We consider approval on your income only.
No third-party involvement
We believe in direct communication with our loan aspirants, and we do not include someone to come between us. It means you can easily approach us for loans with bad credit and no broker to involve.
We responsibly follow our role as the direct lender while offering unsecured loans in the UK. In turn, we expect you to borrow responsibly, which you can afford and under your capacity to repay.
Before applying for these personal loans, you should weigh where to use them and where they are not suitable. Here we have summarised some examples of what to use an unsecured loan for and not.
- You can use unsecured loans for:
Here are the instances where these loans are relevant:
Car purchasing: You can go for these loans if you have already planned to buy a new or used car.
Holiday costs: These are personal loans and are suitable for covering various kinds of holiday expenses.
Home improvement: Whether a significant renovation or a smaller one, unsecured loans are a worthy choice.
Consolidating debts:Unsecured debt consolidation loans for bad credit convert all your pending dues into one fixed monthly instalment, including one interest rate.
- You cannot use unsecured loans for:
These loans are suitable for any purpose. Still, you can consider other specialised products from us for some expenses.
For starting a business: These are unsecured personal loans and should not be used for starting a business. For this purpose, we have dedicated start-up business loans in the UK.
Deposit amount for house purchase: You should not use these loans while buying a new home. You will soon be indulged in a mortgage, and applying for a loan before that will be risky. Instead, you should start saving for that mortgage deposit.
Making an investment: Unsecured loans are ideal for a financial emergency. You should not use them to invest in stocks or shares to make a quick profit. If you do so, you may find yourself in a debt trap.
Instant and Easy Loan Approval
We approve every loan application in a few minutes without affecting your credit score.
The motive behind unsecured loans is well clear. You do not need to arrange collateral to secure the loan. You get the approval on your current circumstances and capacity to repay.
Still, some vital things are there while looking for the best unsecured loans in the UK. As a responsible loan provider, we have a few suggestions for you:
If you are good at these aspects, you should approach direct lenders only to avail of unsecured loans for bad credit with no fees and no guarantor.
Unsecured loans, or personal loans, are available in different forms. We have tailor-made them so that both of us can be on the favourable side. We have prepared loans in an unsecured way that can meet your various financial needs in different circumstances.
Whether you are living on rent, a homeowner, a retired person, a student, full-time or part-time employed, self-employed or have credit issues, these unsecured loans from direct lenders like us can fulfil your needs.
Unsecured Long-term Loans
You will not find this one product anywhere else, but Advanceloanday offers it with pure responsibility. We offer long-term unsecured loans at reasonable amounts considering the capacity of your income and loan affordability.
Short-term Loans
If we provide long-term funding, we are always open to offering short-term unsecured loans. These are perfect for your financial emergencies as they are available entirely on your monthly income. You can apply them with no guarantor too.
12-month Instalment Loans
We have different arrangements for unsecured loans. If you want a loan for a smaller duration with fixed monthly instalments, then you can choose our 12-month unsecured loans.
Joint Loans
You have a bad credit score, but you still want a larger amount to borrow. You can apply for our unsecured joint loans with bad credit. You can apply with your partner and collectively repay the loan to avoid the burden.
Unsecured loans for bad credit from direct lenders have many advantages, like speedy fund disbursal and flexibility in lending norms. Your needs may sometimes differ, and you want other products to meet your ends.
These are the possible reasons why you want to switch from unsecured bad credit loans to other loans:
If you have these reasons, then you can opt for the following alternatives of unsecured loans:
Secured Loans: You have good equity in your home that allows you to borrow more than £40000. You can go for secured loan options to fix your credit rating problems.
Guarantor Loans: If you have a guarantor to back you during the loan application, you can opt for guaranteed loans that can be a good alternative to unsecured loans.
Car finance: Unsecured loans can help you book a car and make a down payment, but not for the entire amount. You can apply for our car finance option to avail almost 90% finance on your car.
With a bad credit score, traditional lenders doubt your repayment capacity. They tend to charge more, considering the risk in lending the amount. We are ready to take that risk for you.
These factors affect the overall cost of unsecured loans for poor credit:
If you have decided on your best loan, it is helpful to analyse your option using a calculator for unsecured personal loans. It allows you to apply for loans you can afford to repay.
We are a specialised provider of unsecured loans for people with bad credit. We keep the loan on flexible terms where everyone can seek approval without hassle. We provide the following advantages in your favour:
Loans on any income
We can accept loan applications on any sort of income. We offer unemployed loans, and we present self-employed loans in unsecured way. You do not need to put anything as collateral.
Guaranteed approval
We do not guarantee loan approval, but if you can afford the borrowed amount, we will consider guaranteed unsecured personal loans. It is the reason why we have a higher percentage of loan approval.
Cheapest deals
We offer only the affordable loan deals allowing us to prepare the cheapest unsecured loans. There are no upfront charges or surprising fees.
Loans on a pension too
It is very unlike other direct lenders in the UK. We can offer unsecured loans for pensioners. These will be for a small amount but helpful when they need quick financial assistance.
If your recent credit performance is satisfactory and you do not have any debt, we can reckon your application for unsecured loans with no credit check. If you have been connected with us previously, we may not be interested in the credit check. First-time borrowers can also avail of this facility.
Unsecured loan means short-term funding where there is no collateral required. These carry higher interest rates, but you are at no risk of losing your asset. Lenders have to bear the risk if you default.
On the other hand, secured loans fall under long-term funding where you need to pledge an asset to secure the loan amount. You get larger funding for a longer duration and lower interest rates. These are ideal for extensive financial goals.
To get quick approval on unsecured loans, you need to do these things:-
Yes, you can qualify for unsecured loans on very poor credit scores. We may consider your application with County Court Judgement (CCJ) too. However, you need to show your loan affordability to seek approval.
Advanceloanday has a wide presence all over the UK and you can get our loans from anywhere. We deal 100% online, which brings loan benefits straightway to your favour, irrespective of your location.
Applying for an unsecured loan with a bad credit score was never easy. Advanceloanday has made it easier with its flexible funding process. You guys are amazing in acting promptly on the loan applications. The interest rates are also competitive; overall, everything is quite good.
-Stephen
Advanceloanday is a responsible lender who takes care of its clients sincerely. The professional team here understands the financial compulsions of the borrowers and then arranges unsecured loan deals accordingly. Everyone should try the lender to gain maximum financial advantages like me.
-Ivan
A few months back, I applied for unsecured loans here. It was my first time as a loan aspirant. I was nervous, but the representatives at Advanceloanday helped me a lot and guided me to apply for the loans without any mistakes. The best part is that they did not check my credit score. Thanks a lot...
-Jorge