Short Term Loans No Credit Check
Are you looking for a short term loan with no credit check? Authorised lenders will always carry out a credit check as a part of their loan application process. Lending Stream is an FCA Authorised lender and will always run a credit check, which is why we do consider people with bad credit ratings too.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Why choose Lending Stream?
Fast
Cash sent to your bank in under 90 seconds, once approved.
Convenient
24/7 simple & online application. Instant decision. Direct lender since 2008.
Affordable
Repay in 6 monthly repayments. Pay early with no extra fees and save on interest.
Warning: Late repayment can cause you serious money
problems. For help go to moneyhelper.org.uk.
What are short term loans no credit check?
Short term loans no credit check are a type of short term loans where the lender does not perform a credit check on the borrower. Such loans are often considered to be high in risk, as there is no guarantee that the borrower will be able to make the monthly repayments on time.
Short term loans no credit check are often advertised as useful for those with bad credit rating or no credit history, but in real, they can prove to be very harmful.
Lending Stream does not offer short term loans without credit check. We believe it is important to perform a credit check as part of our loan application process to ensure that the borrowers can make their monthly repayments on time.
Can I get a short term loan with no credit check?
You might get a short term loan no credit check with a lender who is not authorised by the FCA. However, this type of loan is high-risk, and we will never recommend it to anyone.
Lending Stream will never offer loans without a credit check. Being a responsible lender, we believe that it is important to carry out a credit check. This helps us to see whether or not the loan is right for you.
How do I check if I’m eligible for a loan with Lending Stream?
If you are looking for a short term loan with Lending Stream, then you need to check your eligibility first. To apply with us you must:
We might also ask you to show if you have a stable job with regular income just to see if you can afford the monthly repayments along with all your other financial expenses. We might verify these details in a careful manner in few cases.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How can I apply for a loan with Lending Stream?
Our online loan application process is quite easy and takes only a few minutes to complete. You just need to fill in our online application form, and give us the following information:
- Choose the amount which you want to borrow with us
- Fill in your personal details
- Provide us with your employment, salary, expenses, and banking details
Once we receive your application, we will run a credit and affordability check. If approved, the loan amount will be transferred to your bank within 90 seconds.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How long do you have to pay back your loan?
If you have a loan with Lending Stream, then you must be knowing that we give you 6 months to repay your loan. If you want to repay early, you can. Our loans are charged at a daily interest rate and by paying early you’ll save money. No, we don’t charge any extra fees if you repay early.
In fact, many of our customers repay their loan in 3 months or 4 months.
What if a lender is offering me short term loans no credit check?
If you are being offered a short term loan with no credit check, then there are high chances of the lender not being authorised by the FCA. This means that the lender is not regulated, and you will not have the same protections as you would get with a regulated lender.
We will never recommend taking out a loan with a lender who is not authorised by the FCA, as it is clearly showing that they are not a responsible lender.
What are the advantages of short term loans no credit check?
There are no advantages of short term loans with no credit check. These loans are of high risk and can cause a huge damage to the borrowers’ financial conditions. If you are considering taking out a short term loan, we would recommend that you choose a lender who is authorised by the FCA.
What are the disadvantages of short term loans no credit check?
High Risk: The main disadvantage of short term loans with no credit check is that they are extremely risky. What this means is that there might be a high chance of you not being able to repay the loan, which could lead to debt problems.
Expensive: The interest rate on a short term loan no credit check is often much higher than on other types of loans, which means that you could end up paying back more than what you have borrowed.
Hidden Fees: A short term loan with no credit check usually come up with a few hidden fees and charges. This means that the true cost of the loan might not be visible to you, which could lead to many issues down the line.
Unregulated Lenders: A short term loan no credit check is mostly offered by lenders who are not authorised by the FCA. Such lenders are not subjected to the same rules and regulations as regulated lenders are.
FAQs – short term loans no credit check
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Is performing a credit check important?
If a lender is regulated and authorised by the FCA, then it is quite important for the lender to perform a credit check as part of their loan application process.
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Is it safe to take a short term no credit check loan?
No, it is not safe for you to take a short term loan with no credit check and we being a direct lender who are authorised by the FCA will never recommend you to go for a loan without credit check.
We don't offer loans under 60 days. We offer 6 or 12 month loans. The maximum repayment period is 12 months. Maximum APR 1721%.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk