- Emma Parker
- April 12, 2021
Are you looking for an alternative to funding unexpected expenses? You cannot wait for long or till the next salary to tackle those unanticipated costs.
What will you do?
Will you ask for money from your friends?
Do you disturb your investment?
Please don’t do this. You have some other options to consider, something as applying for the loans. Indeed, this seems a better opportunity to consider.
There is no doubt that loans are a vital source of generating emergency income. At the same time, you need to fulfil first the eligibility criteria and application process.
Do you consider yourself capable of a particular loan?
Are you eligible enough to attract guaranteed loans?
Getting the loans on guaranteed approval is like a daunting task. You may feel worried when you read that the concerned authority does not allow any lender to offer the loans on guaranteed approval.
It means you have to work hard for getting the guaranteed loan acceptance.
How to do that?
What are the ways to attract loans on guaranteed approval from a lender?
Well, there is no need of putting an extra burden on your mind. At here, we will discuss those tricks to get a guaranteed loan.
Tips to Ensure Guaranteed Loan Approval
As said above that, you do not need to worry about your loan chances. Lenders may not promise guaranteed approval, but they can give it.
Follow the below-mentioned suggestions and stable your finances:
Stay genuine to your loan request
The first trick is to stay true to your loan needs. Some people usually apply for loans without analysing their actual requirements. They apply for larger funds but later struggle to repay.
You should not do this, at least. First, analyse your financial needs and then the current financial status. It is because, on those bases, you can explore which loan deal would be better for you. You can decide how much interest rates you can pay during what duration.
Do not apply for loans more than your capacity, and it is the basic rule to attract guaranteed loan approval.
Keep your credit score ready
Another way to get the assured loan approval from a lender is to keep your credit score ready. Lenders, irrespective of traditional or modern ones, always prefer those borrowers who know their credit scores and showing commitments to maintain them and improve them.
Credit scores are an integral part of the loan process. A good credit score is enough to get loan approval, while a bad credit score requires more efforts from the borrowers.
Nowadays, the UK lending marketplace offers the possibilities of bad credit loans on guaranteed approval. Still, you need to be very specific about your income and other details to get this facility. Interest rates will be on higher as usual for poor credit.
Earn some sort of income while applying
Ignore applying for the loans when you are empty of monthly income. Most lenders prefer those borrowers who are generating full-time income. It is because that your income works as the loan security when providing the guarantor or collateral is not mandatory.
However, it does not mean that you cannot get the guaranteed loan approval if you do not have a full-time income. The lender can approve your loan application on your part-time income too. In such a scenario, you are not allowed to borrow significant funds for a more extended period.
Some private lenders in the UK may approve your loan application even if you live on benefits, but only in rare cases.
Pay your recent bills on time
It is a significant point to consider and implement. You may have made past mistakes in not paying bills on time, so you have a poor credit score.
Reasons can be anything. This may be your negligence, or you might have faced issues like unemployment.
Do not worry about what you have done in the past. Instead, focus on what you should do now. Pay our recent bills on time that may be utility bills, credit card bills or even repayment of any existing loan.
It will positively impact the lenders about your recent credit performance, and guaranteed loan approval may be there.
Choose a responsible lender
Last but not least, you should choose the responsible direct lender in the UK. Having a lender that has a good record of lending is exceptionally crucial. Only then, you can get genuine deals and can you cope with your financial mess.
Pick a responsible lender that can offer affordable loan deals. Here, affordable means getting the loans according to your financial capacity and avoiding the chances of missing repayments.
The Final Talk
Guaranteed loans are the wish of everyone because it is the easiest way to get rid of financial emergency. If you are sincere in your efforts and borrow the funds responsibly, getting the loans on guaranteed approval is not far away.