Blog

  • Of the many benefits that the habit of saving money has to offer, being financially stable despite an emergency is one of the more important benefits.  Setting aside a small amount of cash can significantly dampen the otherwise drastic effects that o...

  • What Are They? – Where Can I Get One? – How Much Do They Cost What is a Bridging Loan? When it comes to buying a residential property in the UK your average house purchaser goes nowhere near a bridging loan, if they’re lucky. So......

  • In The Beginning  There are many factors that can influence your credit score. Some you can do something about quite easily, others not so much. There are 3 main credit reference agencies (CRAs) in the UK and each one scores people differently so a 6...

  • Life is a roller coaster, isn’t it? Yes, you might have planned your monthly budget, investments, and other necessary funds, but suddenly an emergency comes out of nowhere! A medical emergency, a sudden trip, or an immediate house renovation can be v...

  • Badger Loans links up with Money Mentor giving you Better Information, Better Knowledge, to be Better Prepared. Badger Loans is delighted to announce an ongoing collaboration with the highly respected and esteemed financial website Money Mentor. Desi...

  • There’s a lot to be said for being a stay at home parent. Let’s face it, no one else can bring up your children quite like you can so we’ve decided to take a look and see if there’s any financial benefits to being a......

  • Five Great Reasons For Taking Out a Personal Unsecured Loan   Consume Consume Consume   So says the mantra of 21st century mainstream everything. And boy do we know how to consume. Ever tried not spending money for a week or two?  Try it an...

  • Part 1 – What is a Loan There are many reasons to take out an unsecured personal loan and we here at Badger Loans are going to give you five of the best. Before we do that let’s get stuck into what a loan really......

  • ‘May You Live in Interesting Times’   From Sir Austen Chamberlain to Robert F Kennedy, the phrase attributed as a Chinese curse has been used most often as an insult by both the aforementioned and a cast of characters throughout the 20th century...

  • A survey just revealed what several people already knew and have been warning about. The financial impact of COVID-19 goes way beyond job losses.  The drastic effect is showing up in unexpected forms and hitting at people who have already been hit ha...

  •   An Open banking has been with us by one name, but you may not have heard of it yet. Unless you’ve recently been in the market for a loan or have difficulty proving your income. It is also possible that to get better grip......

  •   Letters unchanged in 40 years An apparent 100,000 people attempt to take their own lives each year because of unmanageable debt while a further 4 times that amount consider suicide according to government figures. The true scale of the misery ...

  • When the panic set in properly in March/April of this year nobody had any idea of how the disease was likely to pan out. Confusion reigned. It still does. There’s a lot of information out there and most of it is fairly clear and concise......

  • Can I Have a Sub Please Boss? In this blog post we’ll be looking at the world of salary finance in the UK. Employer Salary Advance Schemes (ESAS) are a relatively new phenomenon in the UK and are being promoted as an alternative to High......

  • In the two sides to a typical loan agreement (borrower and lender) there has usually been one side who has the scales of power tipped in their favour and that’s historically been the lender. Fairly obvious one might think that the lender should have ...

  • Update (24/2/21) Hi Everybody, We just wanted to let you know that our lending panel of 40 direct lenders is now back to full strength. We were down to 2 or 3 lenders in the dark days of last summer but with vaccinations underway and......

  • In our 21st century of ever-advancing technological innovation, the advent of the pingtree will have gone largely unnoticed by the vast majority of the general public. Unless they happen to work in finance in general and loans in particular there’s n...

  • Emergency Cash Loans, as the name suggests, are for when disaster has struck. There’s no sickening feeling quite like it; the wolves are at the door and the cupboard is empty. What will you do? Hide behind the settee with your fingers in your ears......

  • A CCJ loan is for people who have a County Court judgement registered against them at their home or business address. While there is no actual lending product called a CCJ Loan just as there is no product called a Bad Credit Loan we use......

  • With the coronavirus having cut through the world’s population like a hot knife through butter, the fallout has had most Payday Lenders running for the hills while others have simply pulled down the shutters and gone into hibernation for the duration...

  • Further to our brief statement we put online a couple of days ago we felt it best to give you a fuller rundown of how the coronavirus has impacted the lending and short- term lending industry. We will also use this space to inform you......

  • What is a pay plan?   A pay plan is something that is set up if you are struggling to pay something back. This could be an unsecured loan or a payday loan for example.   How do I arrange a pay plan?   Pay......

  • Credit unions help people borrow or save money at lower interest rates than they would receive through traditional lenders. Credit union loans are often considered to be a much lower cost alternative to payday loans in the UK. First established in th...

  • What is a debt management company?   Also known as debt relief or debt consolidation, debt management companies can take your current debts and create a plan that helps you pay them all off in an affordable manner. They provide you with an unsec...

  • A credit limit is the total amount you can spend on your credit card. This amount can fluctuate, depending on things such as the lender, the credit card type, as well as your own previous credit history. A credit card is a revolving credit facility,....

  • Yes, it is possible that Amigo Loans could take court action against you, but it is worth keeping in mind that this is always a last resort. Amigo Loans, or any other kind of guarantor lender will tend to avoid going to court and sort......

  • Revolving credit refers to a credit line category that enables you to have access to a certain amount of money (known as a credit limit). You are able to borrow up to this maximum amount, and once you start to make repayments on this balance......

  • You will need to provide documents in order to apply for a secured loan. These are usually: Passport or ID Valuation of property Valuation of vehicle Proof that you own the property or vehicle Making sure that you have done a secured loan application...

  • Subject to status when it comes to unsecured loans or other loan products available, means that your approval is based on the basis of credit rating and income checks. If these checks for a loan come back positively, showing that you are able to affo...

  •   Payday loans are unsecured loans (meaning that there is no security such as a property or vehicle that backs the loan) making it more costly for the borrower. This makes payday loans considerably more expensive than other options available on ...

  • No, a payday loan will not harm your ability to get a mortgage. For the majority of mortgage providers, a payday loan is considered to be like any other type of loan taken out. When deciding to approve or decline your mortgage application, the provid...

  • No, in most cases, whether it is a secured or unsecured loan you will not be approved for a loan without employment. However, with some types of lending like a guarantor loan, it could be possible. The main thing lenders will be looking for is......

  • No,  applying for a payday loan and getting accepted for one does not harm your credit score. In some cases, showing that you can make repayments promptly for a payday loan may help improve your credit score. Nevertheless, there can be exceptions to ...

  • No, your credit rating is not impacted when you become a guarantor for someone’s loan. A soft search is carried out (ie. a search that does not leave a lasting credit footprint) but this will not affect your credit score. However, there are som...

  • One of the main ways of verifying a payday loans company is safe to use is through checking the Financial Conduct Authority’s register. Also known as the FCA, the industry watchdog has implemented a variety of new and improved regulations to th...

  • The nominated guarantor will not be automatically charged for the guarantor loan when an agreement is made. The only scenario where the guarantor is required to pay the loan is if the main applicant fails to do so. This could be because the main appl...

  • No, it is not possible to change guarantors after the initial two week cooling off period has been granted. Once someone has agreed to be your guarantor, they then have a legal obligation to complete the loan or see it through until it is paid.......

  • If a guarantor refuses to repay the loan, the debt will still be outstanding and it could lead to added fees and impact to the credit score of the guarantor. When co-signing a loan agreement, the guarantor agrees to cover any outstanding repayments a...

  • No, the payday lender will not contact your boss or workplace when you make a loan application. You can rest assured that there will be no potential awkwardness to have to worry about. It can be a common worry for applicants that their employer will....

  • No, you will not go to prison Standard attempts to take payment will first be made first The lender will contact you by phone, email and post Interest and fees may apply Your credit score can be affected   No, you will not end up......

  • Yes it is possible for you to be taken to court if you have taken out multiple payday loans and failed to pay them back. In this scenario, a lender might decide to take you to court in order to be able to issue a......

  • In the UK, the payday loans sector is currently worth in the region £300 million. This valuation is based on the average payday loan amount in the UK being £300 and around 1 million loans taken out in the last year. Payday loans by numbers......

  • Yes, it is definitely possible to improve your credit score through a guarantor loan, provided you pay it back on time and do not miss payments. In fact, many people struggling with a bad credit score (or alternatively, no credit history at all) take...

  • Yes a guarantor has a lot of rights and because the loan is funded into their bank account first, they have the power to control whether or not the loan is passed onto the main applicant and can also delay payment. However, being a guarantor......

  • If you cannot make repayments on your outstanding payday loan on time, then you will incur additional fees and it could harm your credit score. Consequently, it is important that you fully understand the implications of defaulting on your loan. If yo...

  • If you decide to take out a payday loan, then it is important to keep in mind there will be a variety of checks carried out in order to determine eligibility. After you have completed an application form with Badger Loans, we conduct hundreds of......

  • If you take out a payday loan, the cost of it will be capped at 0.8% per day (this is the equivalent of £24 for every £100 borrowed).  This price cap is in line with regulations introduced by the FCA in January 2015 and it......

  • This kind of short-term loan can be an excellent way to get access to cash quickly and in an efficient manner, enabling you to get money into your account to help with a financial emergency in a minimal amount of time. However, given that a......

  • No, if you have agreed to become a person’s guarantor for a loan , when you cannot suddenly stop being a guarantor once the full loan amount has been paid out. We understand that the duration of a guarantor loan can last for a long......

  • Having a good person to be the guarantor of your loan is essential to maximise your chances of approval. A strong guarantor is important to the lender, because it offers confidence that the loan will be repaid and reduces the risk of default. This ca...

  • The main responsibility of the guarantor is: If the main borrower defaults on their loan, the guarantor will be required to step in and repay on their behalf. This is confirmed in the original pre-loan agreement signed by both parties, meaning that t...

  • Here’s why we believe a broker is best When you type the words ‘bad credit loans uk’ or ‘payday loans’ into your preferred search engine the sheer volume of matches can be somewhat daunting. One of the first things people do is try to sort......

  • In The Beginning… As British as roast beef and Yorkshire pudding or a Chicken Tikka Masala on a Friday night, The Citizens Advice Service (formerly Bureau) has been with us since the dawn of the Second World War. Like The Samaritans or eggs and...

  • This post deals predominantly with the UK loan framework but some things are universal………. When life gets tough and things aren’t going our way the last thing we need when trying to arrange a loan is someone trying to steal what little money we may.....

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  • If you are not buying a house then the type of loan you are looking for is called a ‘personal loan’ as opposed to a ‘homebuyers loan’ or ‘mortgage’. The terms ‘good credit loans’ and ‘bad credit loans’ are merely marketing terms for personal loans......

  • Or: why does my APR  say 5000% when my lender says I repay 40 in every 100 pounds? Who’s right?   Answer: They both are. Doesn’t make much sense right? Unfortunately there’s a lot of confusion around APRs so let us try and make them......

  • The Short Answer: Get a Payday Loan or a Doorstep Loan. Make sure you read the small print. Some companies use their lack of credit checking as a marketing tool. Keep an eye out for those companies. The Long Answer: Back in the day, when......

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