How to prepare before applying for loans for 18 years old?
We provide seamless and hassle-free loans for those under 18. If it is your first time, you must prepare yourself. We have simplified things to ensure loan approval on the very first attempt. Our easy loan deals are there, but it does not mean that you do not need to do anything.
Preparing for loans is vital. Therefore, we have explained some crucial points for you as a responsible lender. Check here:
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Analyse your requirements
It is critical to know whether you will get the loan or not. You can use the loan calculator to know the total costs you would pay. We provide you with a loan calculator to calculate interest rates, APR, and total repayments as per the loan amount and term. You can shift the scale as per your needs and borrow right.
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b) Analyse the eligibility criteria deeply
We have simple criteria for you to qualify with ease. Yes, we provide loans for those under 21, but you can apply if you are aged between 21 and 25.
Eligibility criteria
Loans for 18 years old |
Can provide part-time income proof, credit report, and a guarantor if you lack income |
Loans for 17 years old individuals |
Provide a part-time income proof. If you lack it, apply with a guarantor or co-sign the loan. |
Loans for individuals aged 19-25 |
Provide a part-time/full-time income proof, self-employed assessment or invoices, credit history with stable finances |
You get the loan if you meet the criteria as per age.
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Additional and unnecessary loan costs
If you are applying for the first time, you must check the costs associated with the loan. With us, you can avoid unnecessary charges like- prepayment loan fees or hidden costs. By paying the loan early, you can save money on interest costs.
Before applying, analyse costs like loan fees, loan establishment costs, APR, and interest rates.
How to get loans for 18-years-old with no credit history?
If you are 18 and need funds for immediate expenses, you can count on us for affordable loans for 18 years old with no credit history. We bank upon other alternatives like income and a guarantor (if you lack income) to provide you with a loan.
You can also opt for loans if you are a budding entrepreneur for funds. For this, you must hold a visionary business plan and should be a UK-based business. If your finances are sound with legal business registration, you may get small business loans as an 18-year-old.
If you have just graduated or are in the first year of post-graduation, you may need external funds urgently. Whether you need to buy up books or looking for a rental, we provide loans for 19 years old on low credit history and unmanaged finances.
Our procedure is a bit more lenient for undergraduates than for loans for 20 years old. If you are a previous customer, you do not need to log in again and complete the application form. You are done here! Get cash quickly for your needs.
Here is how to get loans for young people:
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Pay off some previous loans
By paying off your loans, you can ensure a reliable profile. It would also reduce your liabilities. With an improved credit score, you may qualify for loans for those under 21.
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Apply for a lower amount
Applying for a lower amount may lead to immediate approval. For example, if you need £500 on bad credit, borrowing £350 may help you qualify easily.
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Get a guarantor/co-signer on the loan
If you have someone to co-sign the loan, you may get one. It is ideal for the employed individual needing a bit of credit assistance. You can also get a guarantor if you lack income or need more amount than what you qualify for.
We also provide no guarantor loans to individuals with stable credit history and income in the UK. If you are 19-21, you can get one with these eligibilities.