Unsecured Loans
Avail the best unsecured lending, available exclusively for people with bad credit, too.
Avail the best unsecured lending, available exclusively for people with bad credit, too.
Unsecured loans are small personal loans, and the process does not involve collateral to secure the loan amount. These are short-term loans available for a maximum period of 60 months.
Maintaining the balance between regular and irregular expenses is not always possible. With the cost of living increases, an imbalance may occur that proves your monthly income is insufficient to stabilise your finances. When such problems exist, you should take out unsecured lending to have a peace of mind.
Many small loans, such as quick loans, payday loans, and cash loans, are being offered in the UK marketplace. Why only unsecured loans to choose from? These loans provide you with a larger repayment period than those available for a very short period, like only for one month.
Moreover, Featherloans provides unsecured loans with bad credit as a direct lender. We prefer your recent financial commitments rather than past mistakes. We have multiple loan approval criteria, not merely the individual credit history.
| How much loan amount canyou borrow? | You can borrow up to £25,000, depending upon your loan affordability and repayment capability. |
| Where can I use these loans? | It is a perfect funding option to meet small or large expenses, including wedding expenses, debt consolidation, gadget purchases, home improvement, etc. |
Every loan provider sets its own process to fund different individual needs. First, it involves a certain eligibility criterion that everyone has to fulfil. As a modern-day lender, we provideunsecured private loansusing easier online procedures and qualifying prerequisites.
It is mandatory to be above 18 years of age and hold a permanent residency in the UK. Apart from that, our criteria are quite simple to follow. These include:
Once you fulfil these eligibility conditions, you can start applying for unsecured loans for bad credit by following these steps:
You can now use the borrowed sum to fulfil your financial needs. Your monthly instalments will start from the next month. Be sincere throughout the loan term and avoid missing any repayment, as it may impact your credit score further.
We take responsibility for helping you out in critical financial times by providing unsecured loans for poor credit. These may be the high-interest rate loans to deal with, but Featherloans assures you that the affordable rates match your budget.
We ignore your past credit performance and focus on recent monthly income or statements to know how much you can afford.
You know that your asset is not at risk under these loans because these are no-collateral loans. It is indeed the most significant benefit, but here are some other BENEFITS of unsecured bad credit loans that we bring for you:
Sometimes, you may have planned a major personal need for which you require a considerable amount to borrow. On a few occasions, you need funds quickly to calm down the interest rates. In such situations, you want to make a comparison i.e. secured vs. unsecured loan.
| Secured Loans | Unsecured Loans | |
|---|---|---|
| Collateral | A loan protected against personal collateral is called a secured loan. | An unsecured personal loan from lenders does not include such a provision. |
| Duration | Flexible duration and may extend up to 10 years or more. | Loan terms remain on the shorter side as these are short-term loans. |
| Interest rates | With an asset secured, the lender keeps the interest rate on the lower side. | These are higher interest rate loans than secured loans. |
| Credit rating | Lenders largely prefer people with good credit history to offer these long-term loans. | People with any credit score, including those with bad credit, can qualify. |
| Overall cost | Secured loans involve higher costs overall than unsecured lending. | Due to the shorter duration, the total cost is not much higher. Therefore, unsecured debt consolidation loans are perfect to get. |
| Risk | You may lose possession of your asset if you default in between the loan. | Although there is no risk to your asset, you need to pay a higher interest rate. |
We offer unsecured personal loans for bad credit with no guarantor option. However, you may worry about the loan cost when no guarantor is involved. The interest rate will be higher than standard loan options, as you have a poor credit score and lack a guarantor, too.
The cost also depends upon how you will manage the loan repayments. Missing or late repayments may cause a penalty that you have to pay. Still, if you want an early settlement of the loan, we can agree on it without charging anything.
Overall, these factors usually affect the cost of unsecured loans with no guarantor:-
Unsecured no guarantor loans can be an effective option. Still, if you have a person with a good credit rating as your guarantor, you can avail better deals with lower credit scores with us.
Many loan providers in the UK provide unsecured personal loans, but not all of them fulfil what they promise. We have a proven record of fulfilling promises with effective loan deals. With us, you will have many advantages, which are mentioned there.
We provide loans for the highest amount on an unsecured loan i.e. £25,000.
Our loan rates are flexible and finalised on individual financial circumstances.
Your loan affordability eases our efforts to bring guaranteed loan acceptance.
It will be a next-level experience of getting unsecured personal loans for bad credit from lenders like Featherloans. If you want to test us on this aspect, then do not delay.