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Direct lender loans come directly from the lender without the interference of any broker. These lenders typically belong to the UK's online marketplace, which is often regarded as a modern way of lending.
Gone are the days when 80% of people apply for loans from traditional lenders like banks and other institutions. Nowadays, it has been changed to almost 50-50 with an increasing margin of the private lenders. Therefore, the new age lending system is often compared with the traditional form of lending, but in a positive way.
The loans from direct lenders include several adjectives to fulfil certain objectives. These include ‘fast’, ‘quick’, and ‘instant’. These words are effectively backed up by FLEXIBLE LENDING.
One most important thing that keeps online lending pretty different from conventional one is accepting the bad credit score. Not many lending institutions are there in the UK where people with bad credit scores feel liberal in applying for loans.
Direct lenders like Loanorganisation, on the other hand, follow flexible lending policies, especially on applications with having a tick mark on bad credit scores. They accept their loan requests and even assist with the competitive interest rates and manageable loan repayments.
There is no doubt that the sphere of direct lending is increasing day by day in the UK loan marketplace. People now have plenty of options for choosing the best deals on direct lender loans online.
At the same time, it can be confusing whom to choose as your lender where you can directly apply for the loans. You must have some aspirations from your lender. After all, you are in a financial emergency and need quick funding.
Your lender should have the arrangements for both short-term and long-term funding. Loanorganisation does exactly and offer exclusive deals on short term and long term loans irrespective of bad credit scores.
Bad Credit Loans: These are special lending products for those carrying poor credit histories. We offer almost the guaranteed approval based on their income capacity and loan affordability.
No Credit Check Loans: When it comes to the convenience of direct lending loans, we cannot leave out 'no credit check loans'. We are not interested to know your credit history but approve loan applications on your recent credit performance.
No Guarantor Loans: Guarantor is helping hand to your loan chances, but you do not always have a reliable person to back you. Therefore, opt for our short-term loans like no guarantor loans to get peace of mind.
The financial creditworthiness of an individual is determined through their sincerity in making all the payments. Credit card bills, utility bills and monthly rent should be paid on time; otherwise, they will impact your credit profile.
Availing of loans for bad credit from direct lenders comes useful when you cannot follow the financial sincerity. You can get loan approval despite a negative credit report because you have had a positive performance recently.
When you are hunting for a reliable lender, you will encounter various lenders with different approaches towards bad credit people. For instance:
You can find lending policies for people with poor credit history differ from lender to lender. Loanorganisation, as being a new-age lender, follows the unique but useful path to assist financially the individuals carrying less-than-perfect credit scores.
Flexibility in Lending Norms
We are known for our flexible lending policies. It indicates that we finalise the interest rates and repayment schedules according to your loan affordability.
Different Approval Criterion
Other lenders judge the financial credibility of the borrowers by knowing what they have done in the past. On the other hand, we approve the loan applications on the borrowers’ current income capacity.
One feature that makes direct lenders for bad credit, like we are, different from other online lenders in the UK is the soft credit check. Yes, we treat loan applications with soft credit checks making the way easier for loan approval.
Sometimes, we do not check the credit score if someone applies for the loans. For this, we have brought a specific loan product called no credit check loans. These are the short-term loans provided on the following conditions:-
The above features indicate that direct lenders have applied an open approach towards people with poor credit. We give financial assistance to them despite having no guarantor and with no credit check.
When you have a poor credit score, you have a little bit chance of obtaining loans. With adverse credit scores, chances become tougher, and the majority of the lenders deny their loan applications.
We take one step forward and are ready to offer financial assistance to those with very poor credit scores, CCJ, or bank default. We think they deserve another chance to improve their credit profile. We are the responsible direct lender in the UK, offering very bad credit loans with no guarantor.
We do not need any guarantor because we look at your monthly income. If it can manage the monthly income, we can approve your loan and fund your financial needs. However, the amount will be small needed during the financial emergency.
The impact of a bad credit score is pretty high on your financial record. It defines how much you are financially responsible. Bad credit loans from direct lenders can prevent this by bringing a quick access to funds.
When you approach a loan broker, the phrase 'quick funding' may not be possible. You can contact the broker if it is too hard to find the lender or you need a large amount. For the short term loans like bad credit loans, you do not need any third person. You can directly contact a lender and get the loan straightway.
The base of direct lender loans is TRUST. Loanorganisation is one such lending platform, which is trustworthy when someone wants loans in an emergency. We have no competition with other lenders and brokers. Instead, we compete with ourselves. Yes, it is correct.
You can show your trust in us because we continuously work hard to bring the necessary funds when you need them the most. Therefore, we have increased the sphere of our direct lending that includes unemployed loans for bad credit as well.
When you want to apply for loans, you have three desires:
We provide all this. Decide your loan and start applying now.