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Loans for Unemployed in the UK – Direct Lenders Offer More

Author: Stacey Walsh
by Stacey Walsh
Posted: Jun 07, 2018

According to a report published by a famous new portal ‘The Guardian’, jobless rate in the UK increased by 4.4% in last five years. The statistical report reveals that 1.47 million people are unemployed while the youths are struggling more to get the jobs. The other similar reports prepared with slightly different perspective confirm that the UK is witnessing slowdown in new jobs creation and sharp fall in working hours per day. The overall economic conditions are not favorable to unemployed people; so, how will they meet out the living or emergency expenses? Thanks to easy availability of tailor made loans for unemployed in the UK. Are these so easily available for every unemployed? Are you a perfect right candidate for unemployed loan? Can you make the debt cheaper?

The Easy Availability of Loans for unemployed in the UK:

Searching genuinely rated unemployed personal loans in the UK, especially for the first time, is just like running a marathon race without warm up exercise. Not only the youths waiting for their first appointment letter but the very large numbers of matured adults too seek unemployed loans in the UK. Quite a large numbers of direct lenders offer instant cash help to jobless people. Nearly 80% online direct lending platforms offer recognized personal loans of different categories. During 2016-2017, the mid-sized online direct lenders increased their lending capacities and improved the service model to compete better. Collaboration between the traditional lenders and direct lenders is also brightening the prospects of getting unemployed personal loans. Therefore, you have more options still you need a smart approach to get the least priced debt.

Unemployed Loans In The UK- How Much Beneficial Are These?

So, you are expecting your first job offer or you are facing a short term unemployment status because of switching over the job, or you are jobless because of shutdown of office, unemployment status with uncertainties is common in all the circumstances. How will you manage the regular and unexpected expenses? How will you manage the monthly bills? Getting unemployed loan from the regular financial institutions is an uphill task especially when you have bad credit score and no employment. Getting debt become more complex when you have neither a guarantor nor the valuable asset to pledge against the loan amount. Direct Lending from a private financial agency is the most viable solution to come out of temporary financial crisis phase.

The prime benefits of getting the required quick cash help from direct lender are 100% transparent process, complete online process so no leg work, no follow ups, speedy process so no waiting period, no documentation, no need to involve a broker, flexible repayment terms, customer friendly support etc. The borrower can ask for any amount without disclosing much about the intended use. The leading direct lenders in London believe in the philosophy- ‘loan delayed means loan denied’. Yes, the direct lenders charge little more interest rate than the regular financial agencies but the extra benefits justify that cost difference.

Conclusion:

Attractive deals placed on the direct lending portal draw attention of borrowers facing acute cash shortage during the unemployment. Instead falling in prey of least interest rate declaration by the direct lenders, you must analyze and compare all the parameters – direct and indirect. The offers of loans for unemployed in UK come to you with different clauses and terms; read the offer in between the lines and never go ahead unless you are satisfied with the entire process and the total cost to be paid.

About the Author

British Lenders is a reliable online marketplace to avail benefits of short-term loans with no credit check. It offers these loans on competitive Aprs besides variable reimbursement terms.

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Author: Stacey Walsh

Stacey Walsh

Member since: Jun 09, 2016
Published articles: 11

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