I am Emily Clark, a mother of two, oh! I am sorry, I mean a SINGLE mother of two. Now you can perhaps understand my situation. It is only three months back that I got separated from my husband Rupert. It was never an easy decision as the family break is great chaos and has a long-term impact on all lives involved. In fact, I should say the effect is life-long. Especially when kids are there, you face the deepest fears and pain. It is parallel to death to see your children staring at you with many questions in their eyes.
After divorce, I shifted from Glasgow to Edinburgh. Even until now things are looking upside down and the prime concern always stays in my mind is the money matter. From daily routine expenses to the future of my kids and my career, everything just relates to money. You know what, I feel perhaps it will take around two to three years to get stable again. However, I have to start somewhere and from the day I have shifted, I started looking for some urgent funds as I am encountering countless expenses.
I have a job now that earns me £25,000, which is £5000 more than my previous pay in Glasgow. This can be a decent amount but as the current situation relies on me to take care of two boys; I find this amount quite less. Rent for a new house, scattered finances after feeding shifting costs, repairs and fixing equipment in the kitchen, there was so much to do.
I needed additional support but never had taken any loan
I was desperately looking for funds but hopes were blurred as I have no credit history. Before this, my husband used to take short-term loans for our small needs. I never had to take any loan but now that became my biggest problem. With no loan in the past, I had no credit history to show and this means I cannot bear the credit check process. I first visited mainstream lenders, they were not so sure about my affordability. Every passing day my financial stress was getting intense and I wanted funds at any cost.
The online lending came to my life
One of my friends told me about online loans. She took one of the loans (short-term) for some of her urgent needs. She told me that there are loan products for the first time borrowers too without any credit score perusal. I was not much inclined for online loans but as there was no other option, I explored the direct lenders and loan choices with the term ‘loans without credit check’ from British Lenders in the UK. I was amazed to find so many options that I regained my lost hope.
Finally I made a choice
Now the only challenge was to find a reliable lender as my friend told me to choose the lending company with utmost care. I explored the possibility on few names – new horizons, NoCreditCheckLoans, Cash Lady etc.
At LAST, I saw a lender named ‘British Lenders’ and then things changed for good. The features and commitments that this site was offering were great.
What I found unique and promising in British Lenders?
The lender, which has now become my all time favourite, has all the features that a borrower-friendly lender should have.
It offers the following things to the borrowers on loans without any credit score perusal.
- Instant funds – As I mentioned how restless my financial needs were, I wanted money as fast as possible. British Lenders provides instant approval decision, which is always followed by timely fund disbursement. By the way, the application process is all about three brief steps. 1)apply 2)get approval decision 3) receive funds.
- Fair deals with no unnecessary charges – Upfront fee, hidden charges are not part of the lending culture of this lender and I am happy that they are so honest in whatever they do.
- APR was not high – As compared to the APRs of 49.9%, 48.9% etc. offered by the other lenders, I got funds from British Lenders on a much lower rate. I was not expecting this but it did happen and I got a lucrative loan offer with a much less total cost.
- Transparency – I got notified about ever latest action taken on my loan application which gave me a reason to rely on this lender. After all, nothing is more precious for a borrower than the trust on the lending company.
- Customisation – As it was mentioned on the website www.british-lenders.uk that all the loan deals are customised. Instalments are not big and are according to the financial capacity of the applicant.
- No obligation – Besides the freedom from credit score check, you get to borrow funds without any collateral and guarantor. Your repayment capacity is the key to qualifying for the loan. This gives a better speed to the loan procedures.
- Bad credit people can also avail funds – Although, I have no credit history but those who have bad credit history can also apply and get a loan. Don’t worry, the ‘no obligation’ policy is applicable in that case too.
I borrowed money and my deal was not beyond my financial limits
As my income is £25,000, I had to take care of my limits to repay. Many other expenses consume a considerable part of my monthly budget. I borrowed £7000 and fortunately, the calculation of repayments of the loan matched well with my other expenses.
The figures were like this
|Saving goals||£2000 (monthly)|
|Balance left||£25,000 – 19000 = £6000|
|Borrowed loan amount||£7000|
|Instalments||£1500 (monthly)for 12 months|
|Instalments deducted from income left||£6000 – 1500 = £4500 (I save)|
I guess this is not a bad deal and I am on the top of my ecstasy to find such a great option for my financial needs.
Tenure – good choices to pick
Tenure spans from minimum of 3 months to maximum of 36 months. You get the one for which you qualify through the repayment capacity. Maybe you expect 6 months but your income-outgoing ratio is such that you qualify for 12 months.
Repayments – as expected, EASY
Just like the other things, repayments to are hassle-free. It was all as smart due to the smarter online lending technology.
Things occurred systematically like this –
- The lender gave me choices to pick from two to three repayment plans. I chose one and I am following it without any stress and mess in my finances.
- The instalments go through the auto debit procedure. On 5th of every month, the amount is deducted from my account.
I do not have to bother myself on this part as things happen automatically. Thanks to the new age of lending.
This is how the loans without credit check gave me a happy ending during my financial crisis. In fact, I am thinking that if things go well I will pay off the loan before completion of tenure. Out of 12 months, I have spent 4 months and did the payments on time. The left 8 months to are expected to go smooth and if possible, I will try to completely pay back the loan after two months. This means I can be free 6 months before the loan tenure. Fingers crossed!
The lender has no prepayment penalty. Wow! Everything is so perfect here. A big thanks again to British Lenders for its promising existence in the online loan market. My future is now free from financial worries, as I know where I can go in case of urgent needs.