No Credit Check loans - fee free to direct applicants

Fee free loans with no credit check?

A question often asked is how can you possibly get a loan without being credit checked. The short answer is that without some sort of additional security being offered you can't! Any lender offering you an unsecured loan will conduct a credit check of some sort on you whatever you plan to do with the money. 

There are however some lenders that will offer you a no credit check loan so long as you can meet certain criteria. for personal loans of up to £7500 with no credit check then a guarantor loan is an option. You simply need to provide the added security of a guarantor who gives the lender comfort that the loan will be repaid if you default. This can be especially useful if you have little credit history or indeed a rather tarnished one. 

Whatever you see them advertised as - Poor credit loans, bad credit loans, no credit check loans amongst many other things. they all generally refer to a guarantor loan. Don't be misled though, there is no easy way to get a loan if you have had issues in the recent past or don't meet the criteria of the big banks. For the select few who can get a guarantor to help then getting a no credit check loan is a reality.

The role of a guarantor and loan security

The Security needed to get a loan 

Many lenders today are keen to protect their exposure by looking for some form of security when approving a loan for you. Of course many lenders will consider property as suitable security for a mortgage or homeowner loan. Secured Loan providers have offered such products for many years as a way of offering good rates whilst giving customers the flexibility to use the funds as they wish. Nowadays these loans are a genuine alternative for customers looking at a remortgage but are restricted by equity or their current providers terms.

Guarantor loans present some lenders with the comfort of having an additional level of security on small unsecured loans up to £7500. If you can find a guarantor to trust you then our Guarantor loan providers trust you and therefore your credit rating is not so important. These types of loan can be processed within hours if you can satisfy the criteria. 

You may be looking to get an loan quickly and for a relatively short term, to pay a VAT bill or solve a short term cashflow issue. If you have valuable possessions that you are happy to use as security then you could get a loan paid out to you within 48 hours!

You could use the following as security on a loan;

• Luxury Watches.

• Jewellery, Gold and Diamonds.

• Prestige and classic Cars.

• Fine Art and Antiques.

• Yachts and Boats.

• Other personal assets considered such as wine collections!

Direct lender contact and a swift valuation of your personal asset can be arranged so you know how much you can borrow. There are no credit checks and the loan is paid out within hours of the asset being received by the lender.

Buy to Let Loans & Mortgages

Whether you are a first –time landlord or a property investor wanting to expand their portfolio we have a range of buy to let mortgage lenders who can offer a variety of buy to let options. 

•             Houses in Multiple Occupation

•             Multi-Unit block

•             Complex portfolio

•             No residential property required

•             Adverse accepted

•             Low value properties

•             None standard construction considered

•             Lending within 6 months accepted

•             1st time buyers

•             No minimum Income

•             All types of BTL available

There is a growing trend in the Uk whereby the rental demographic is getting younger as housing becomes less affordable and mortgage providers continue to tighten criteria. Every 1 in 6 properties in this country is rented and by 2018 it is estimated that this will become 1 in 5. Another interesting Statistic is the average landlord in the Uk now has 8 properties and is aged over 50.

Using a broker specialist when you are looking to raise finance to purchase or remortgage a Buy to Let Property or indeed properties can reap dividends. We have lenders who will consider landlords looking for their first investment as well as those who are looking to refinance their entire multi million pound portfolio. 

Here is a recent case study

A client wanted to raise funds of £15,000 against a Buy to let property he owned outright to consolidate debts including payday loans. He was 6 months in arrears on a credit card and his income didn’t meet other lenders minimum requirements. The property was valued at only £60,000 and therefore below some of the standard lenders minimum valuation. We arranged to raise the money for him and he cleared his debts improving his financial situation.

For further information please contact us via the website Money Solutions Uk

Alternatives to getting a remortgage

Recent additions to our lender portfolio mean customers have greater choice when it comes to raising finance  against their property. So if you consider the following scenarios we will no doubt have several alternatives for you to consider:

• You want to raise additional funds and keep the interest only part of your mortgage which is currently charged at a favourable rate.
• Your income is not high enough to apply for a larger mortgage. You may also be in receipt of benefit income that is not included in a mortgage lenders calculations to determine how much you can borrow.
• You are currently tied in to your main mortgage and will incur charges to switch mortgage lenders.
• Your additional credit borrowings prevent you from securing a remortgage or to raise further funds via your mortgage provider.
• Adverse credit or historical issues you have had with finance or your mortgage prevent you from securing a mortgage

We can now raise secured funding up to 95% of your properties value if certain criteria are met.  Secured lenders are also less sensitive about what you require the additional borrowing for so if you are needing the money for business purposes for example then we have solutions that may well suit. In some circumstances if you are looking for a loan for home improvements then we have unsecured homeowner loans for people with a good credit history to supplement our extensive range on secured loans.

If you have short term borrowing requirements and you have found credit hard to come by then lenders like Everyday Loans or those on our panel that offer guarantor loans for example may be suitable for you. So whether you are a home owner or a tenant with a good or a poor credit profile there is still likely to be a lending solution available to you. Visit the Personal Loans section on our website for more information.

Awkward Bridging Finance requirement?

We have a Specialist Bridging Lender who lends on deals that other lenders do not
have an appetite for. Substantial funds available to lend in the following Locations:

England: 100% Coverage including South West and North
Wales: 100% Coverage Subject to demand
Scotland: 100% Coverage subject to demand

Categories of Loan:
• We refinance Existing Bridging Loans
• We lend to Individuals/ Companies with Adverse Credit
• We provide Residential Development Finance
• We lend on unfinished Residential Developments
• We lend against properties with Agricultural Restrictions
• We lend against Derelict Properties
• We lend against Vacant Commercial Properties
• We lend against Land with outline residential Planning Consent
• We lend against Agricultural Land
• We lend against HMO’s
• We can refinance trustee in bankruptcy cases
• We can refinance companies in administration

Contact us regarding this or any other commercial finance requirements you may have

Commercial mortgages from Money Solutions Uk

Are there enough loan providers to go around?

In the last few weeks we have seen several new loan products being launched onto the market. This maybe a sign that lenders have a growing appetite to lend being that they are in some cases becoming more flexible in their lending criteria. Not so long ago we as brokers were limited in our unsecured offerings to a couple of near prime branch based lenders (no good if you lived outside of their branch network) and the main guarantor loan providers. Plus of course we had the ubiquitous payday loan offerings.

Now at last we have some offers to get our teeth into so to speak. In the main the new unsecured loan products are geared towards good quality home owning customers but they have rates to reflect this starting at a very decent 7.9%. There is also a further prime product geared very specifically towards customers needing to borrow larger amounts over a longer period of time, most likely for home improvements but for whom the option of raising against their house is unrealistic due to lack of equity to secure against for example. An APR of 14.9% is available for loans of up to £50,000 over a ten year term. You can of course make excess payments and clear the loan off early.

There are also shorter terms loan offerings for customers who have suffered from credit problems in the past or have a weak credit profile. Loan terms from 7 months are available dependent on the balance required. Customers with bankruptcy or recent IVA history will not qualify but that aside if you can prove affordability then the loan is quite likely one you will be eligible for.

For customers looking to borrow against their property because they are looking for a lower rate or for more flexibility in the loan terms then we can now achieve loans up to 95% of the property value. Remortgage providers tend to offer a maximum of 85% to 90% so clearly there is a gap in the market for these products. If you were looking to raise funds and your existing mortgage was at a particularly low rate because you took it out some time ago you may not wish to remortgage? In this scenario also a secured homeowner loan could be a solution.

Tenant loans remain a challenge to place unless certain criteria are fulfilled but this in time will change in my opinion. For now the options are restricted to branch based lenders like Everyday loans, the Guarantor loan providers and small cash loan businesses like Pounds2Pocket. Fee charging remains a bone of contention. I think that in time it should be stopped as a practice altogether on unsecured lending. It penalises the more vulnerable people who search online for loans. Many of these people seem unaware that making multiple applications or paying a fee does not guarantee them a loan and that these same loan providers are widely available to them for free anyway. Our Loans with no credit check for example do not attract a fee and require certain criteria to be met to guarantee the loan. They certainly do not warrant charging a customer upwards of £40 merely for presenting the option in the first place.

Do small businesses understand the finance options available to them?

A lack of understanding of alternative forms of borrowing such as asset-based finance could be hampering UK business growth, a study suggests. 

Research of 2,000 small and medium-sized enterprises (SMEs) from Lloyds TSB Commercial Finance shows that there is still a lack of understanding of asset-based finance, compared to more traditional forms of borrowing such as overdrafts, loans and mortgages.

Almost all SMEs (98 per cent) are aware of overdrafts, but only half (52 per cent) say they are aware of asset-based lending.

 The survey also shows that a lack of understanding of alternative forms of finance prevents many SMEs from using them.

Invoice finance, where a firm can borrow against the value of customer invoices, is one of the most popular forms of asset-based finance, but understanding of its benefits among SMEs is low.

While over two thirds (70 per cent) of firms are aware of invoice finance, just over half (54 per cent) say they have a good understanding of it and only 15 per cent have ever used it.

Some alternative products are better understood by businesses. Hire purchase and leasing products, which can help SMEs fund new equipment or machinery purchases, is understood by two thirds of businesses (69 per cent) with 36 per cent having used it.



The top three reasons cited by respondents to use alternative finance are to make corporate acquisitions, boost working capital, and invest in property.
 Source: smallbusiness.co.uk


New Unsecured Home Owner Loan Product launches today

• Unsecured Homeowner Loans from £15,000 to £50,000

•             Loan can be used for any purpose (excluding debt consolidation)

•             Fixed Interest Rate 14.9%APR - (irrespective of loan amount)

•             Electronic Signature Service available to speed funds transfer 

•             No Early Repayment Charges

•             No Penalty for Overpayments - (reduces the loan term)

•             Fixed Repayment Term at outset of 10 years

Another sign that lenders are cautiously re-entering the unsecured loan market with a niche product aimed at homeowners who want to make improvements to their home and need significant borrowing over an extended period initially to make it feasible.

Many people in the Uk find themselves in a position of having little or no equity in their property so secured borrowing or extending their mortgage is not feasible. We have a range of shorter term unsecured loans, guarantor loans, no credit check loans for prime customers and those with adverse credit or a weak credit profile but nothing for prime customers looking for more than £15,000 unsecured, until now!

Loans of over £15,000 on an unsecured basis have historically been near enough impossible to source. This homeowner loan product therefore has great potential and is another welcome addition to our range of prime loan products for home owner customers.