We believe financial support goes beyond the loan itself. This blog exists to help you make better, more informed decisions about borrowing – whatever your situation.
You will need to provide documents in order to apply for a secured loan. These are usually: Making sure that you have done a secured loan application checklist before applying is highly recommended to ensure you meet the eligibility criteria and not wasted valuable time. In this guide, we will
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 afford to take out a loan
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 the market. However, used under the right set of
Do Payday Loans Affect Getting a Mortgage? 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,
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 proof that you can make
Will Applying for a Loan Affect Credit Score? 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
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 some exceptional circumstances where your score could
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 the sector in recent years. Previously, when payday loans
Do Guarantors Get Charged Automatically? 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 applicant
So, Can I Change My Guarantor on a Loan? 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
Ian Sims’ newly released second book in a three-part series explains what lenders really look for, why applications get declined, and what can improve your chances of approval. It’s a practical guide for anyone navigating bad credit, missed payments, or recent declines.
