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Income Details (Part 3/3)

Example APR :

We compare loans that can be paid back over the terms 1 and 25 years. The APR interest rate you’ll be charged depends on your personal circumstances, and will be between 3.2% and 99.9%. This is a representative example of what it may cost: a loan of £7,500 over 60 months at 3.3% APR would equate to monthly repayments of £135.60, and the total cost of the loan that you pay back would be £8,136.22.

Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
Credit subject to status & affordability assessment by Lenders.
Best Short Term Loans (www.bestshorttermloans.uk) is a credit broker and not a lender
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Full Name :
Email Address :
Phone Number :
Loan Amount :
Loan Term (in months) :
Loan Purpose :

Personal Details

Date of birth:
Marital Status :
Residential Status :
Current Address:
Post Code :
Time at current address (in months) :
Number of Dependents :

Truth About No Credit Check Loans- Consumer Guide Compiled by BestShortTermLoans

Do you think no credit check loans can help you to improve your bad credit situation? Well, you are not alone. Hundreds of people in the UK search for credit management solutions every day and look for magic wand credit solutions such as no credit check, no guarantor or no collateral loans to restore their financial health.

Is it possible to avail a loan without a credit check?

People struggling with bad credit situation have challenges such as

  • poor credit score
  • low credit worthiness
  • loan rejections
  • cash crunch
  • difficulty in repaying debts
  • instant loan requirement
  • unemployment

People facing these financial glitches believe that availing a short-term no credit check loan can improve the bad credit situation to an extent. It is important to note here that a credit check is a prerequisite of lending a loan. No one can borrow or lend without a credit check in the UK as per the guidelines set by the financial watchdog of the UK-FCA. If a credit company promises instant no credit check loan, it could be a scam and you should not fall prey to such fraud calls.

Let’s explore the truth about no credit check loans in the UK and find out what Financial Conduct Authority and Financial Ombudsman Service has directed on the matter.

Consumer Guide for No Credit Check Loans

Here is a factsheet compiled by BestShortTermLoans for those who seek short-term loans without a credit check. We have included directives of FCA to share the best available loans with our panel of lenders to the customers.

  1. Always deal with consumer credit companies including loan brokers regulated by the FCA. The authorised companies come under the cover of Financial Ombudsman Service and are thus, bound to secure consumer interests before offering loans and credit products to consumers. You should also check out if the company is authorised to give credit products.
  2. Instead of searching for no credit check short-term loans, search for soft credit check loans. Credit check helps lender know about your repayment capability. It is beneficial for the customers as well. For, it ensures that you avail only affordable loans. It helps you stay away from loans designed to default at. This automatically saves you from loan sharks. We ensure that you avail soft credit check loans and thus never risk your credit health while waiting for an in principle answer for your loan request that you make.
    We can help you avail short-term loans in all formats including short instalment loans, payday loans, doorstep loans, and business loans.
  3. While most brokers serve without charging any upfront fees, there are some who charge small processing fees or upfront fees. You need to be cautious of sharing your bank details to any of these companies. BestShortTermLoans offer broking service free of cost and thus you need not worry about the misuse of your bank details.
  4. T4. The customer should always read Terms and Conditions carefully. Check out the details of firm including registration number and all such details on their website. Contact only after checking the legitimacy of a broking firm. You can check our details on each page and read our Terms and Conditions before making any decision.
  5. 5. Also, FCA cautions you against paying an upfront fee for loan. There are several scams prevalent online. One of the ways to doubt the legitimacy of a firm is when it cold calls you for loan.

BestShortTermLoans- Advantages of Dealing with an Authorised Broker

At BestShortTermLoans, we strive to help customers avail loans for all types of credit troubles. We assess your credit profile for loan affordability, processing time, interest rate, APR%, and the impact on credit report before suggesting to the borrowers.

We abide by all the FCA guidelines and extend 24 X 7 online support to anyone who have queries related to our loan products. We do not promise false claims and do not introduce quick loans. We search for tailor-made loans for bad credit ssituation. We ensure that the loans we suggest are practically affordable to you.

To seek instant loan, fill a form on our website and share your contact details.