subject: Unsecured Loans: Grab Funds Without Credit Check [print this page] The most quick, fast and collateral free plus risk loan is the unsecured loans. As the name suggests, these are obtained by the borrowers without pledging the security to get the finance. Unlike secured loans, one does not have to pledge security against the mortgage. One does not have any risk in availing these finances.
Here are some pre requisites of these mortgages which are required to fulfill before applying:
Applicant must attain the age of 18 years or above;
Applicant must be a domiciled of UK;
Applicant must possess a valid bank account in UK bank;
Applicant is doing a regular job ands earning a sound source of income.
Any lender will not carry out the credit check from the borrower. Any person is eligible to apply for these mortgages. There are many bad credit records which do not mean any thing for the lenders such as CCJs, IVA, arrears, foreclosures, defaults, bankruptcy, late payments, insolvency, missed payments, etc. Tenants and non homeowners both are eligible for unsecured loans. No faxing and no lengthy paper work is required by the lenders. This is the best part of these finances. One can avail the sum from these finances ranges from 1000 and 25,000.
The amount that a borrower fetches can be used for many purposes like debt consolidation, examination fees, wedding, traveling, school fess and college fees, credit card dues, car repairing, medical bills, hospital bills, home renovation, grocery bills, etc. The interest that the lender charged from is slightly higher than secured credits. This is because of the fact that borrower is not pledging any security to get the finance. Always compare the rate and quotes of the mortgage in order to get the best deal. One of the best ways to apply for the unsecured loans is through online method as it provides the fast and hassle free cash within 24 hours of application.
Here the repayment term is between 1 to 10 years. Borrower can extend the duration of the repayment but then has to pay the extra interest.
by: Janice Henderson
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