No Guarantor Loans
Looking for loans without a guarantor? Have bad credit? At Lending Stream, we provide loans with no guarantor. We consider people with bad credit. Apply now for an instant decision on a loan without a guarantor.
Representative Example: Given a Representative APR of 1271%, if you borrow £300 over 6 months at 292% p.a. (fixed), you would owe 6 equal repayments of £96.39. You will repay £578.36 in total.
Not all applications will be approved for a loan. An offer of credit is subject to status and affordability checks.
Why choose Lending Stream for no guarantor loans?
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Lending Stream is a FCA authorised and regulated direct lender, offering short-term loans without any hidden fees.
No early repayment fees
Repay in 6 monthly instalments. We don’t charge for early repayment.
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What are no guarantor loans?
Guarantor loans are a type of unsecured loan that require a guarantor to co-sign your credit agreement. They agree to repay the loan if you fail to make the payments. A no guarantor loan means that you can apply for a loan without needing someone else to co-sign with you. No guarantor loans are generally direct loans which means you take out the loan directly with the lender.
These loans are typically unsecured. This means they don’t require any collateral such as a car or home to back up the loan. Nor do you need a guarantor. With no guarantor loans, lenders will check the borrower’s credit and financial situation. They’ll then make a decision based on the borrowers ability to pay back the debt.
At Lending Stream, we understand that unexpected expenses can arise anytime. We also know that not everyone has a guarantor or a good credit score. That’s why we offer no guarantor loans, and we consider those with bad credit.
How do no guarantor loans work?
No guarantor loans work just like other loans. They don’t require you to involve anyone else. The lender will use affordability information to establish if decide you can afford the loan. They’ll do this based on your credit report, income, and other factors.
You can apply for a loan without a guarantor with Lending Stream by filling in our online application form. You’ll need to give us some information about you, like your employment status, income, and expenses.
If your loan application is approved, we’ll transfer the loan to your bank within 90 seconds. It may take longer to reach your account, depending on your bank’s processes. These loans are intended for unexpected expenses like car or boiler repairs.
Representative 1271%APR
Eligibility criteria for no guarantor loans
If you are looking to check your eligibility to apply for a loan without a guarantor with Lending Stream, then you must:
- Be a UK resident.
- Have an active UK bank account.
- Have a valid debit card.
- Be at least 18 years old.
- Have a regular monthly income of at least £400
During our application process, we might ask you to show proof of your income. As a responsible lender, we do this to ensure that you can comfortably afford the loan repayments.
Representative 1271%APR
How to apply for a no guarantor loan with Lending Stream?
Applying for a loan without a guarantor is an easy process. You need to fill out our online application form and give us the following details:
- Enter your personal details
- Choose the amount you want to borrow with us
- Provide us with your employment, salary, expenses, and banking details
Once we receive your application form, we will run affordability and credit checks on your profile. If approved, we’ll send the cash to your bank within 90 seconds. It may take longer to reach your account depending on your bank’s processes.
Representative 1271%APR
Can I get a no guarantor loan with bad credit?
If you have bad credit, you may be wondering if you can still get a no guarantor bad credit loan. The answer is it depends on the lender. Each lender has their own criteria for approving loans. Some may focus on credit score requirements, some might focus on your immediate finances.
At Lending Stream, we understand that bad credit doesn’t always mean you can’t repay a loan. That’s why we look at other factors too, not just at your credit score. So, if you have bad credit and want to borrow money, apply with Lending Stream and see if we can help you with the money you need.
What are the different types of no guarantor loans?
If you’re looking for a no guarantor loan, there are different types available. Here are some of the most common types of no guarantor loans:
1. Payday loans
These are short term loans, usually repaid on your next payday. They’re typically used for small amounts and are meant to be used for emergency expenses.
2. Personal loans
These are the type a bank is most likely to offer. They can be long-term loans that can be used for a variety of purposes. They might be used for home improvements or debt consolidation.
3. Bad credit loans
These loans are designed for people who have a poor credit history or low credit score. They’re usually unsecured. Some may be secured against collateral, such as a car or personal items.
4. Unsecured loans
Unsecured loans do not require any collateral, such as property or a car. The lender will offer the loan based on your ability to repay. This may include looking at your credit report and gathering information about your finances.
5. Instalment loans
These loans are repaid in regular instalments over a period of time. They’re usually monthly and vary in length. They can be used for small or large amounts, depending on the lender.
How much money can I borrow with a no guarantor loan?
The amount you can borrow with a no guarantor loan will depend on the lender. It will also depend on your credit score and income. Borrowing more than you can afford to repay can put you in financial difficulties.
With Lending Stream, you can borrow between £50 and £1,500. New customers can apply for loans ranging between £50 and £800, while existing customers may borrow between £100 and £1,500. The exact loan amount depends on what you need, your credit score, monthly income, and our quick affordability assessment.
We consider individuals with a poor credit history too, offering them a fair and flexible chance to borrow money.
Is a no guarantor loan a payday loan?
No, all no-guarantor loans aren’t payday loans. Payday loans are meant to be paid back in full on your next payday. But other no guarantor loans can be longer term loans. These are paid back over a number of months. At Lending Stream, we offer an alternative to guarantor and payday loans. We offer short term loans that don’t require a guarantor and give you 6 months to repay.
Advantages of no guarantor loans
1. Quick approval
No guarantor loans are generally approved and sent to your bank account quickly. This can make them a good option for people who need cash urgently.
2. No guarantor required
Unlike other types of loans, no guarantor loans don’t require the borrower to have a guarantor. This means you don’t need to ask someone to co-sign for you.
3. You may be eligible for very bad credit loans with no guarantor from direct lenders
Lenders do check borrower’s credit score, but it isn’t always the only factor they look at. At Lending Stream, we consider other factors as well as your credit score.
4. Repay in affordable amounts
If you take out a non guarantor loan with Lending Stream, we’ll give you 6 months to pay back.
Disadvantage of no guarantor loans
Potential debt cycle: If you are unable to repay a no guarantor loan on time, it can become expensive.
FAQs – no guarantor loans
Is a loan without a guarantor right for me?
If you don’t have anyone who can act as a guarantor, then non guarantor loans might be suitable for you. However, consider the interest rate, repayment terms and other fees before agreeing to any loan.
Will I need to pay a fee if I have no guarantor?
This depends on the lender. Some lenders may charge an application fee or processing fee, while others may not. It is important to carefully read the terms and conditions of any loan offer before accepting it.
Can I get a no guarantor loan without a credit check?
Most FCA-registered companies conduct credit checks as part of their standard procedures, although it is not a mandatory requirement. The decision to perform a credit check typically depends on the nature of the services being provided and the individual company’s policies. If you are offered a loan without a credit check you should check to see if the firm is authorised by the FCA.
Is it more expensive to get a loan without a guarantor?
No guarantor loans might have higher interest rates compared to loans that require a guarantor. However, the interest rate may also depend on your credit rating, loan amount and other factors.
Will I be approved for a loan without a guarantor even with bad credit?
It’s possible to get a loan without a guarantor even if you have a bad credit score. However, it’s not guaranteed. You might need to pay a higher interest rate and fees. It’s important to compare lenders and read the terms and conditions before applying.