Bad Credit Score Loans
Not everyone has a good credit score. In fact, the average Equifax score for the UK is 380 which just about falls into the fair bracket. To break down the Equifax 0-279 is very poor, 280-379 is poor, 380-419 is fair, 420-465 is good and then lastly, 466-700 is excellent. So, as you can see, the UK average isn’t as good as it could be. But, a lot of those with bad credit scores do not know how they can improve it. So, here is your opportunity to find out more about bad credit score loans.
Bad Credit Score Loans UK
A bad credit score loan is a loan which you are able to borrow, even if you have a bad credit score. Typically, the tend to have a higher APR% rate than normal loans. They can be either unsecured or secured but it varies lender to lender. Taking a loan out might sometimes be a necessity, but it isn’t a decision to take lightly – particularly if you have a poor or limited credit history.
Bad Credit Score Loans UK No Guarantor
Having a bad credit score doesn’t automatically close you off from all lenders, banks or brokers but it is likely they will not lend to you. Therefore at BingoLoans, our bad credit score loans are for those who people who cannot get their hands on their desired loan. Although, there are other factors as well when it comes to being eligible for a loan. Our criteria are as follows:
- Be over 18 years old & a UK resident
- Have a bank account and an active debit card
- Be in permanent employment or receiving various allowances
- Meet our credit and affordability criteria.
- Agree to provide accurate information about yourself and your financial situation
Bad Credit Score Loans without Guarantor
A guarantor is somebody who co-signs or guarantees the repayment of the loan to ensure the lender is repaid. So, a no guarantor loan is a loan which doesn’t require anyone else. Here at BingoLoans, we offer no guarantor loans as we understand that things can get more complicated when you are having to rely on someone else, especially when you’re borrowing for an emergency. Even though having a guarantor can increase your chances of being accepted, it doesn’t mean you won’t if you don’t have one.
How do I apply?
Applying for a loan is easy. All you have to do is visit our home page and press the ‘Apply Now!’ button. Either of those ways will direct you to the application form page which needs to be completed and submitted. After this, we will contact you to inform you whether you have been accepted. If you have, you could get your loan in as little as a few hours.