Do no credit check loans actually occur in the united kingdom?

Do no credit check loans actually occur in the united kingdom?

No, they don’t – at the least maybe perhaps not legitimately. A big proportion of British adults have bad or credit that is poor lots of people look for no credit check payday advances into the hope they’ll find a lender that may provide them with that loan.

If you use the search engines like Bing in an attempt to find no credit check loans you’ll run into several different sites marketing loans such as these – in almost all cases these would be agents that simply need to get you to definitely use employing their type to enable them to pass your information on.

The way that is really easy think of no credit check loans would be to understand that they simply usually do not occur.

There was an association that is certain payday advances have without any credit checks. A long time ago, loan providers marketed their products or services such as this and because payday loan providers usually lent to the ones that couldn’t get credit somewhere else, individuals assumed lenders did run credit checks n’t.

In cases where company advertises a no credit check loan, must I ponder over it?

No, you ought ton’t. In the event that you run into that loan business that is providing loans without credit checking you (or your Guarantor if you should be trying to get a Guarantor loan) then you’re likely working with:

  • A credit broker
  • Financing shark

A number of the more unscrupulous credit agents often use terms such as ‘no credit check loans’ they work with because they may only make a soft search on your file in order to assess your suitability for a loan with one of the lenders.