Do not let unemployment play havoc in your life! You can continue with proper cash flow if not through the full-time income. Of course, you must be earning part-time income or getting unemployment benefits, but we are talking about unemployed loans in the UK.
There is no need to search any further for the best deal, as MyFinancialLoans can be your port of call without any doubt. Over the years, we are gaining experience in handling the financial needs of a jobless person. Most occasions, maintaining usual payouts becomes a challenge when you are out of a job. Time is to get instant loans with our support without facing any hassles.
Approach us to witness an exclusive occurrence in your life. Our proposal will enlighten you on whether getting loans is affordable with us.
| Key factors of a loan offer | £1000 to £10000 |
| Length of repayment | 12 to 60 months |
| Fee structure | Competitive fees with no upfront charges |
This way, you can avail of the benefits coming from direct lender loans when cash-strapped with no job. The best part is that it will not involve any broker. Thus, the loan price will not shoot up in the name of hidden fees.
Representative Example
Borrowing £1500 over 6 months at Representative 49.9% APR and Interest rate 49.9% p.a. (fixed) with monthly repayments of £287.62 and a total amount payable of £1725.72 All our loans terms from 6 to 36 months.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk
Loans on the same-day define a loan arrangement wherein you can avail of quick access to funds despite being jobless. It enables you to meet the urgent payouts you cannot settle due to cash shortage. Tackling unpaid cash issues will not be trouble for you anymore.
Certainly, we have already shed light on our acceptance of other income means. Therefore, getting unemployed loans on benefits will not be troublesome for you. It is very unlike other direct lenders in the UK, particularly the mainstream lenders. They usually hesitate to accept benefits and still consider jobless people as risky borrowers.
We are comparatively flexible than others and ready to accept any sort of benefit that you are receiving in the form of funds. Overall, the different types of income that we consider are:
There is no doubt that acceptance will be there for any of these benefits. Still, we suggest you not go beyond your capacity. Go for loans when you have no other option to consider, otherwise try to manage small funding issues from your income only. .
There is another benefit of our financial assistance is that we have not restricted our loans to only unemployed people. Instead, we include other individuals as well who are getting benefits and want a loan based on them. To make it clearer, such quick loans in the UK are accessible for:
We acknowledge how people look forward to extensively getting loans for benefits. Keeping this in mind, we have tried to create loan opportunities for a jobless person with additional perks. We are not only considering your financial circumstances but also beyond this.
We want to give you solid reasons why you should emphasise our services. Get loans for benefit from direct lenders for the following facilities:
No revelation of credit history
You can seek our services irrespective of what your credit scores reveal. Since we do not want to ascertain the status of your credit background, no hard assessment will take place. You just have to undergo a soft search. This check is completely different from conventional checks. None will report it in your credit records. It will help us make sure that loan payment is doable for you.
Repayment will remain manageable
Borrowing with us will be like getting instalment loans from a direct lender. There is no difference in the repayment procedure. These loans also allow you to repay in small amounts over an extended period. You should not focus on a short tenure to pay back the entire amount. You can stretch the term length to continue with smaller payments. Select the repayment pattern at your convenience.
Nominal requirements to fulfil
If you are worried about qualification criteria, you should not be. The flexibility of our services is already evident to you. However, we have standard eligibility criteria that you must meet. Moreover, we have adjusted to the income requirement. Instead of a stable job, we are ready to accept income from any steady sources. You can apply for loans with us even on a temporary break from your previous job.
Get money on the go
If everything is perfect in your application, we will process your request on the same day for loans on benefits. Our loan processing time is unbeatable. We accept applications online. In addition, we review it online to save a lot of time. Besides, we transfer the loan money virtually after approval instead of asking you to collect it manually. All these adjustments ensure we can provide you with a quick decision.
Assistance for credit improvement
As mentioned earlier, we let you apply for these loans with bad credit tags. Our feasible repayment format facilitates easy repayment under any circumstances. The direct result of on-time payment will show up in the credit report. Such continuous, timely payments will reflect a positive outcome. Your credit scores will upgrade because of it.
The credit scores of the applicants are the defining factors when approving loans for them. If it is good, approval is there. Otherwise, problems do come for those with less-than-perfect credit scores. For the unemployed, these problems take bigger forms.
There is nothing to bother about the situation as we are here with a proper solution. Unemployed loans are there despite poor credit scores, but at the same time, you get a loan on benefits today only. Is it surprising? You should not because we are the specialist lender for jobless situations.
We do a soft credit assessment of your financial record to ensure affordable loans responsibly unlike those of promising payday loans with no credit check. A no hard credit check helps us to provide you with a loan offer where everything is manageable from your part-time income.
Other benefits that we bring for unemployed people with bad credit scores are:
No guarantor: You have already shown your affordability through unemployment grants or part-time income. Therefore, you can easily get approval on these unemployed loans for bad credit with no guarantor while living on benefits. Once you get the funds, keep the focus on regular monthly instalments to improve your credit score.
No collateral: Since these are small loans, you do not need to pledge any asset to get the desired amount. Instead, you can show your affordability based on side income sources. These unsecured bad credit loans on benefits are risk-free for the unemployed, but they may have to pay higher interest rates than secured loan options.
Emergency loans for the unemployed in the UK can help you accomplish any urgent payout. We have structured our loan offerings to cover various purposes for you. There will be no obligation on the ways you want to utilise these loans.
You can easily diversify the loan utilisation in the following ways:
Manage study expenses
While you are pursuing your academics, you must have limited earning sources. Losing the job adds more to your misery. During this situation, you can approach us to fetch quick funding as we provide instant loans for students. Use the funds to cover any of your study costs.
Immediate cash for urgent payments
You may have to advance rent or pay utility bills. Who knows you need to pay urgent hospital bills too? Managing these with no full-time income can be tough but not impossible. You can rely on our loans and get money to make urgent payments.
Funds to become self-employed
You don't need to use emergency funds for surprising costs only. You can utilise the borrowed sum of unemployed loans to become self-employed. Why not use the funds to start your own business? You can also go for our specialised start-up business loans for the same purpose.
As the responsible direct lender, we are committed to making bespoke loans for the unemployed where everything is affordable. Therefore, we do not mind if someone has a poor credit score too. Our conditions are not strict but rather adjustable. We look forward to maximising our features for our borrowers.
Supportiveness: You can come up to us for any query. We are prepared in every possible way to give you full support throughout.
Dedication: We not just focus on the present but also the future. It ensures enhanced services from our end, also.
Value for time: We acknowledge the urgency you might face as you are jobless. For this reason, we practice easy and small steps that would take much less time.
Protection: Your details are safe in our interface. Checking and maintaining the security protocol is our daily task.
Yes, you can go for a loan option during the jobless scenario. Although lenders consider you a risky borrower, they can accept your loan application if you are earning some sort of income. Indeed, you can win the confidence of the lender by showing the strength of your part-time income or the benefits that you are receiving. However, you will not get a large amount to borrow as these are short-term loans only.
Yes, both loan options have significant differences. Loans for the unemployed are a more traditional option with availability at both mainstream and modern lenders. These are more specified loans for jobless individuals, who can use their part-time or benefits for loan approval. On the other hand, loans for people on benefits are largely available from online lenders, as they are flexible in their approach. These are based on your benefits, but only if you accept them as funds.
The answer to this question is both yes and no. Yes, we change our terms and conditions for unemployed people, but only on those points where they can fetch loan approval. For instance, we usually approve applications on full-time income, but we change our policies for the unemployed, where we accept part-time or benefits as the repayment source.
No, we do not change the terms and conditions for jobless individuals. The prime example of it is our online application procedure, which remains intact for every loan option. You are away from any documentation, and acceptance will also be there on your bad credit score.
If you borrow more than your part-time income, it will be a huge risk. Later, you will struggle to repay the amount, and consequently, you will also start losing your credit score. Instead, the better would be to go for only an affordable amount, which you can pay back from your part-time income. However, you can get a larger amount if you apply with a co-signer or a guarantor.
With fair credit, you will have some significant advantages of loans for the unemployed. Some of them are mentioned here:
