Money Solutions uk

Scammers are still out there

2015-10-22T02:24:00.000-07:00

There's a rogue about!

Beware a call from this number - 07784245182

I can 100% assure you that whoever he is he has absolutely nothing to do with Moneysolutionsuk.com. If you have never applied for a loan on our website then we simply cannot get your details being that we don’t buy lists of data either.

We only work with 3^rd party FCA registered master brokers or lenders, none of whom would behave like this.

I would therefore urge anybody affected to report it to the TPS below and the Police.

https://complaints.tpsonline.org.uk/consumer/complaint

Scam progress made with FCA

2015-03-16T09:34:00.001-07:00

Pleased to see an update on the FCA website highlighting the details of the clone firm.

http://www.fca.org.uk/news/warnings/moneysolutions-uk-com-clone-cc

Hopefully nobody else is suffering at their hands and that we can get back to business now!

2015-01-23T09:37:00.003-08:00

SCAM UPDATE

We have been advised by the National fraud reporting centre that the previously the previously commented on actions of a rogue group constitutes what is known as Lender loan fraud enabled by corporate identity theft.

The next course of action for affected individuals to report this directly to them.

The website is below;

http://www.actionfraud.police.uk/report-a-fraud-including-online-crime-questions

Or you can call the Action Fraud team directly on 0300 123 2040.

We have already filled out our own report, we suggest you do the same........

Good luck and best regards

2015-01-22T07:32:00.006-08:00

Scam Alert

We are aware of a scam where people are being contacted by an organisation purporting to be Money solutions or Money solutions Uk and asked to pay money to them. This activity is fraudulent and does not originate from Money Solutions Uk. We do not ask you to pay us any money up front.

We are told the phone numbers of the fraudsters are: 0151 528 8089, 0151 528 9838. If you receive a call from this number, do not pay them any money and put the phone down.

If you do receive a request from someone claiming they are from Money Solutions Uk like this, please forward the details including contact names and numbers, any emails and any bank information, that they provide to you to info@moneysolutionsuk.com and we will pass it to the authorities.

See this information on the FCA website for more information.

http://www.fca.org.uk/consumers/scams/loan-fee-fraud

Merchant cash advance is a loan provided to the business secured against its credit or debit card payments

2014-08-12T14:15:00.001-07:00

Merchant Cash Advance

For most businesses in the Uk to run effectively, cash flow is king. If you do not have adequate cash flow, your commercial operation and day to day running is likely to be affected, clearly something business owners will want to avoid.
Naturally the Bank overdraft is likely to be the most commonly used means of providing money for everyday business. However, for companies that cannot meet the demands of their bank, a merchant cash advance may be a viable solution. A lot of businesses that do not qualify for unsecured or secured bank loans may benefit greatly from this method of borrowing.

A merchant cash advance is a loan provided to the business secured against its credit or debit card payments. A merchant company will advance a loan to a business to be used for almost anything they like. To repay the loan, the business commits to give an agreed percentage of its credit or debit card payments to the merchant cash advance company until the whole amount has been cleared. These payments are made directly to the merchant company.

When processing a merchant cash advance there is no requirement to provide additional security IE property or tangible assets which means that the process can be completed a lot quicker than a more traditional mortgage or asset backed finance arrangement. All the security is in the future card receipts of the retailer. For this reason the loans are suitable for Hotels, Shops, Garages, Salons, Restaurants, Florists, in fact almost any business that processes cards payments.
To qualify for a merchant cash advance, a business needs to have been trading for at least 12 months. The business also needs to show a minimum of £3,500 monthly turnover on credit or debit cards. Once verified and once the business has completed and passed the credit checks the loan will be processed and the value of the advance agreed.
Credit history is considered but is not the sole means of deciding whether the loan will be granted, affordability is likely to be more important. The business will be asked to provide business bank statements and need to demonstrate a stable proposition. A business can apply for a loan of up to £150,000 with few restrictions on what it can be used for.
So if your business accepts credit cards and has been trading for a year or more, you are likely to qualify for a merchant cash advance. The merchant will acquire your future credit and/or debit card receipts and you can receive cash injection into your business within days. Your repayments are taken as a percentage of the amount of business you do on your card transactions. Put simply the lender gets paid when your business gets paid!

2014-07-29T14:00:00.003-07:00

Our latest Unsecured Loan Product

Maximum loan £15,000 Minimum Income £25,0000
Minimum loan £2,500 Good credit history with no adverse credit
Loan terms from 24 to 60 months Employed, Self Employed or Retired
Homeowners or tenants Fixed repayment terms
Loan must be repaid prior to Homeowner’s 80th birthday
No arrangement fees Most loan purposes considered
Homeowners & Tenants**

*Loans from 4.40% APR representative on amounts between £7,500 to £10,000 over 24 to 60 months and provided by unsecured panel lender. The rate you are offered will be dependant on personal circumstances and the loan amount borrowed. All loans are subject to status and appropriate lending terms.
**Long term tenants must be 3 years on the electoral role and employed.

A loan based on borrowing £7,500 over 3 years. Representative 4.4% APR Rate of Interest 4.4% Fixed Monthly Repayment. £222.77 Total Credit Charge 519.61 Total Repayment £8019.61

Flexible loan offers for homeowners

2014-07-11T12:56:00.001-07:00

Flexible loan offers for homeowners

Loans from - £3,000 to £200,000

Competitive interest rates -

Rates from 5.70%APR

Gain access to all the money in your home -

Loan to values up to 95% (more on referral)

No upfront fees charged

You can use the money for practically any purpose -

Any loan purpose including buy to let and business finance

Any circumstances considered -

We’ve products for self employed and employed homeowners

Fast and simple process -

Get a decision in principle within minutes

Contact us today about your Homeowner Loan at Moneysolutionsuk.com

Guarantor Loans from Moneysolutionsuk.com

2014-06-18T14:34:00.000-07:00

Guarantor Loans from Moneysolutionsuk.com

Guarantor Loans up to £7500 and above, how does it work?

2014-06-17T11:57:00.002-07:00

Guarantor Loans are one possible solution for customers who have never had credit in the past or have got an impaired credit and require a loan. There are a great many loan products available in the Uk, but the guarantor loan enables customers who have a good character and willingness to pay the opportunity to raise a loan should they need one. It is guaranteed in the sense that the customer only needs to meet the criteria of finding a guarantor and so long as they are not a registered bankrupt or in an IVA are guaranteed a loan.

Also advertised by brokers or lenders as no credit check loans which refer to the nature of the product and criteria these loans are growing in popularity as the rates compare very favourably to other similar products aimed at the impaired credit market. Another way to borrow money with no check is to put up something tangible as security, for example a car or a piece of art. Loans secured in this way are becoming ever more popular for the asset rich cash poor demographic as a means of raising up to £1,000,000 quickly (usually cash in the bank within 48 hours) with minimal fuss. The lender simply securely stores the asset until the loan has been repaid, typically within 3 - 6 months.

If a customer cannot get a loan from his or her bank or doesn't meet the criteria of one of the other large financial institutions in the Uk it doesn't always follow that they have a poor track record of paying back a loan. If a customer hasn't had credit before they may be declined, if they have changed jobs or moved recently they may also be declined.

A guarantor loan is most likely not for customers who have a poor track record if they have no genuine intent to improve their situation. Ask yourself, would you stand guarantor unless you were extremely confident that the applicant was going to make payments on the loan? The guarantor generally is going be someone related to the applicant or very close to them or possibly in some cases an employer or landlord. They also need to be a homeowner and in receipt of a regular income. To prevent fraud the guarantor will be sent the proceeds of the loan to pass on to the applicant. This final stage in the process ensures that they are fully aware of their commitment and also verifies their relationship with the applicant.

Find out more by visiting us HERE

No Credit Check loans - fee free to direct applicants

2013-08-08T10:19:00.001-07:00

Fee free loans with no credit check?

A question often asked is how can you possibly get a loan without being credit checked. The short answer is that without some sort of additional security being offered you can't! Any lender offering you an unsecured loan will conduct a credit check of some sort on you whatever you plan to do with the money.

There are however some lenders that will offer you a no credit check loan so long as you can meet certain criteria. for personal loans of up to £7500 with no credit check then a guarantor loan is an option. You simply need to provide the added security of a guarantor who gives the lender comfort that the loan will be repaid if you default. This can be especially useful if you have little credit history or indeed a rather tarnished one.

Whatever you see them advertised as - Poor credit loans, bad credit loans, no credit check loans amongst many other things. they all generally refer to a guarantor loan. Don't be misled though, there is no easy way to get a loan if you have had issues in the recent past or don't meet the criteria of the big banks. For the select few who can get a guarantor to help then getting a no credit check loan is a reality.

The role of a guarantor and loan security

2013-05-16T03:01:00.004-07:00

The Security needed to get a loan

Many lenders today are keen to protect their exposure by looking for some form of security when approving a loan for you. Of course many lenders will consider property as suitable security for a mortgage or homeowner loan. Secured Loan providers have offered such products for many years as a way of offering good rates whilst giving customers the flexibility to use the funds as they wish. Nowadays these loans are a genuine alternative for customers looking at a remortgage but are restricted by equity or their current providers terms.

Guarantor loans present some lenders with the comfort of having an additional level of security on small unsecured loans up to £7500. If you can find a guarantor to trust you then our Guarantor loan providers trust you and therefore your credit rating is not so important. These types of loan can be processed within hours if you can satisfy the criteria.

You may be looking to get an loan quickly and for a relatively short term, to pay a VAT bill or solve a short term cashflow issue. If you have valuable possessions that you are happy to use as security then you could get a loan paid out to you within 48 hours!

You could use the following as security on a loan;

• Luxury Watches.

• Jewellery, Gold and Diamonds.

• Prestige and classic Cars.

• Fine Art and Antiques.

• Yachts and Boats.

• Other personal assets considered such as wine collections!

Direct lender contact and a swift valuation of your personal asset can be arranged so you know how much you can borrow. There are no credit checks and the loan is paid out within hours of the asset being received by the lender.

Buy to Let Loans & Mortgages

2013-03-05T08:21:00.003-08:00

Whether you are a first –time landlord or a property investor wanting to expand their portfolio we have a range of buy to let mortgage lenders who can offer a variety of buy to let options.

• Houses in Multiple Occupation

• Multi-Unit block

• Complex portfolio

• No residential property required

• Adverse accepted

• Low value properties

• None standard construction considered

• Lending within 6 months accepted

• 1st time buyers

• No minimum Income

• All types of BTL available

There is a growing trend in the Uk whereby the rental demographic is getting younger as housing becomes less affordable and mortgage providers continue to tighten criteria. Every 1 in 6 properties in this country is rented and by 2018 it is estimated that this will become 1 in 5. Another interesting Statistic is the average landlord in the Uk now has 8 properties and is aged over 50.

Using a broker specialist when you are looking to raise finance to purchase or remortgage a Buy to Let Property or indeed properties can reap dividends. We have lenders who will consider landlords looking for their first investment as well as those who are looking to refinance their entire multi million pound portfolio.

Here is a recent case study

A client wanted to raise funds of £15,000 against a Buy to let property he owned outright to consolidate debts including payday loans. He was 6 months in arrears on a credit card and his income didn’t meet other lenders minimum requirements. The property was valued at only £60,000 and therefore below some of the standard lenders minimum valuation. We arranged to raise the money for him and he cleared his debts improving his financial situation.

For further information please contact us via the website Money Solutions Uk

Alternatives to getting a remortgage

2013-03-01T04:30:00.003-08:00

Recent additions to our lender portfolio mean customers have greater choice when it comes to raising finance against their property. So if you consider the following scenarios we will no doubt have several alternatives for you to consider:

You want to raise additional funds and keep the interest only part of your mortgage which is currently charged at a favourable rate.
Your income is not high enough to apply for a larger mortgage. You may also be in receipt of benefit income that is not included in a mortgage lenders calculations to determine how much you can borrow.
You are currently tied in to your main mortgage and will incur charges to switch mortgage lenders.
Your additional credit borrowings prevent you from securing a remortgage or to raise further funds via your mortgage provider.
Adverse credit or historical issues you have had with finance or your mortgage prevent you from securing a mortgage

We can now raise secured funding up to 95% of your properties value if certain criteria are met. Secured lenders are also less sensitive about what you require the additional borrowing for so if you are needing the money for business purposes for example then we have solutions that may well suit. In some circumstances if you are looking for a loan for home improvements then we have unsecured homeowner loans for people with a good credit history to supplement our extensive range on secured loans.

If you have short term borrowing requirements and you have found credit hard to come by then lenders like Everyday Loans or those on our panel that offer guarantor loans for example may be suitable for you. So whether you are a home owner or a tenant with a good or a poor credit profile there is still likely to be a lending solution available to you. Visit the Personal Loans section on our website for more information.

Awkward Bridging Finance requirement?

2013-02-20T03:17:00.002-08:00

We have a Specialist Bridging Lender who lends on deals that other lenders do not
have an appetite for. Substantial funds available to lend in the following Locations:

England: 100% Coverage including South West and North
Wales: 100% Coverage Subject to demand
Scotland: 100% Coverage subject to demand

Categories of Loan:
• We refinance Existing Bridging Loans
• We lend to Individuals/ Companies with Adverse Credit
• We provide Residential Development Finance
• We lend on unfinished Residential Developments
• We lend against properties with Agricultural Restrictions
• We lend against Derelict Properties
• We lend against Vacant Commercial Properties
• We lend against Land with outline residential Planning Consent
• We lend against Agricultural Land
• We lend against HMO’s
• We can refinance trustee in bankruptcy cases
• We can refinance companies in administration

Contact us regarding this or any other commercial finance requirements you may have

Commercial mortgages from Money Solutions Uk

Are there enough loan providers to go around?

2013-02-19T07:43:00.001-08:00

In the last few weeks we have seen several new loan products being launched onto the market. This maybe a sign that lenders have a growing appetite to lend being that they are in some cases becoming more flexible in their lending criteria. Not so long ago we as brokers were limited in our unsecured offerings to a couple of near prime branch based lenders (no good if you lived outside of their branch network) and the main guarantor loan providers. Plus of course we had the ubiquitous payday loan offerings.

Now at last we have some offers to get our teeth into so to speak. In the main the new unsecured loan products are geared towards good quality home owning customers but they have rates to reflect this starting at a very decent 7.9%. There is also a further prime product geared very specifically towards customers needing to borrow larger amounts over a longer period of time, most likely for home improvements but for whom the option of raising against their house is unrealistic due to lack of equity to secure against for example. An APR of 14.9% is available for loans of up to £50,000 over a ten year term. You can of course make excess payments and clear the loan off early.

There are also shorter terms loan offerings for customers who have suffered from credit problems in the past or have a weak credit profile. Loan terms from 7 months are available dependent on the balance required. Customers with bankruptcy or recent IVA history will not qualify but that aside if you can prove affordability then the loan is quite likely one you will be eligible for.

For customers looking to borrow against their property because they are looking for a lower rate or for more flexibility in the loan terms then we can now achieve loans up to 95% of the property value. Remortgage providers tend to offer a maximum of 85% to 90% so clearly there is a gap in the market for these products. If you were looking to raise funds and your existing mortgage was at a particularly low rate because you took it out some time ago you may not wish to remortgage? In this scenario also a secured homeowner loan could be a solution.

Tenant loans remain a challenge to place unless certain criteria are fulfilled but this in time will change in my opinion. For now the options are restricted to branch based lenders like Everyday loans, the Guarantor loan providers and small cash loan businesses like Pounds2Pocket. Fee charging remains a bone of contention. I think that in time it should be stopped as a practice altogether on unsecured lending. It penalises the more vulnerable people who search online for loans. Many of these people seem unaware that making multiple applications or paying a fee does not guarantee them a loan and that these same loan providers are widely available to them for free anyway. Our Loans with no credit check for example do not attract a fee and require certain criteria to be met to guarantee the loan. They certainly do not warrant charging a customer upwards of £40 merely for presenting the option in the first place.

Do small businesses understand the finance options available to them?

2013-02-07T04:04:00.001-08:00

A lack of understanding of alternative forms of borrowing such as asset-based finance could be hampering UK business growth, a study suggests.   Research of 2,000 small and medium-sized enterprises (SMEs) from Lloyds TSB Commercial Finance shows that there is still a lack of understanding of asset-based finance, compared to more traditional forms of borrowing such as overdrafts, loans and mortgages.

Almost all SMEs (98 per cent) are aware of overdrafts, but only half (52 per cent) say they are aware of asset-based lending.   The survey also shows that a lack of understanding of alternative forms of finance prevents many SMEs from using them.

Invoice finance, where a firm can borrow against the value of customer invoices, is one of the most popular forms of asset-based finance, but understanding of its benefits among SMEs is low.

While over two thirds (70 per cent) of firms are aware of invoice finance, just over half (54 per cent) say they have a good understanding of it and only 15 per cent have ever used it.

Some alternative products are better understood by businesses. Hire purchase and leasing products, which can help SMEs fund new equipment or machinery purchases, is understood by two thirds of businesses (69 per cent) with 36 per cent having used it.  

The top three reasons cited by respondents to use alternative finance are to make corporate acquisitions, boost working capital, and invest in property.  Source: smallbusiness.co.uk 

2013-01-18T07:57:00.001-08:00

New Unsecured Home Owner Loan Product launches today

• Unsecured Homeowner Loans from £15,000 to £50,000

• Loan can be used for any purpose (excluding debt consolidation)

• Fixed Interest Rate 14.9%APR - (irrespective of loan amount)

• Electronic Signature Service available to speed funds transfer

• No Early Repayment Charges

• No Penalty for Overpayments - (reduces the loan term)

• Fixed Repayment Term at outset of 10 years

Another sign that lenders are cautiously re-entering the unsecured loan market with a niche product aimed at homeowners who want to make improvements to their home and need significant borrowing over an extended period initially to make it feasible.

Many people in the Uk find themselves in a position of having little or no equity in their property so secured borrowing or extending their mortgage is not feasible. We have a range of shorter term unsecured loans, guarantor loans, no credit check loans for prime customers and those with adverse credit or a weak credit profile but nothing for prime customers looking for more than £15,000 unsecured, until now!

Loans of over £15,000 on an unsecured basis have historically been near enough impossible to source. This homeowner loan product therefore has great potential and is another welcome addition to our range of prime loan products for home owner customers.

2012-12-21T03:55:00.000-08:00

Brits are planning to put Christmas on their credit card this year, according to new research from uSwitch.com, the independent price comparison and switching service. Four million turkeys are being bought this way and more than half (59%) of consumers are using their credit cards for their Christmas shopping.

After another difficult year, with pay rises failing to keep up with hikes in essential living costs, Brits are turning to their flexible friend to keep up the festive cheer. According to the research, the average consumer expects to put £448 on their credit card over the season and more than one in ten (13%) would rather go further into debt than tell their nearest and dearest that they couldn't afford presents this year.

Michael Ossei, personal finance expert at uSwitch.com, said: "In true British spirit, Brits are determined not to let money worries cast a shadow over the festive cheer this Christmas. Many are turning to their flexible friends to help see them through to the new year.

"The last thing people want to do is scrimp at Christmas, but it's easy to get carried away and spend more than you mean to at this time of year. The high number of consumers willing to put themselves deeper in debt just to stave off the embarrassment of not giving presents sends alarm bells ringing.

"If you know you can clear your balance straight away, using a credit card can be a very practical way to shop, and can even earn you money if you use a cashback card. But for those struggling to make ends meet, relying on credit to pay for Christmas can be both risky and costly - and will mean starting the new year in even more debt.

"If you do need to use a credit card it's important to choose the right card to suit your spending needs and not get caught out by high interest rates. Also consider cards which offer 0% on purchases, as these can give you some breathing space and help you avoid a new year financial hangover by giving you the time to save the cash to clear the balance while avoiding interest charges." Source Business Money.

Business Loans For Any Purpose Up To £500k

2012-12-20T11:36:00.002-08:00

We are very pleased to announce that Business Loans for any purpose, (including cash-flow, asset purchase & stock purchase) are now available:

From £5,000 to £100,000 unsecured.

From £101,000 to £500,000 with security i.e. Company Debenture (second charges are acceptable). Note that 100% LTV can be provided on fixed assets or assets to be purchased.

We can also arrange commercial finance on assets From £20,000 to £500,000 - no deposit required, up to 120% LTV

Interest Rates from 6.4% AER.

Fixed Rate, monthly repayment loans over 1, 3 or 5 years.

No Up-Front Application Fees or ERC's.

Personal Guarantees will be required for most unsecured loans and some secured loans.

Criteria:

Limited Companies & LLP's only.

A minimum of 2 years accounts must filed with Companies House.

All directors must be UK based.

No CCJ's above £250 allowed.

Minimum turnover £100k per annum.

Totally independent from your business banking, giving you the flexibility to run your business effectively.

Funds generally available to successful applicants within 17 days.

Join our extensive list of happy clients and take advantage of this outstanding product now. Don't just take our word for it!:

Recent cases

Tyre supplier looking to buy & import stock £50,000 unsecured loan= 7.8%

Computer solutions company looking to develop expand software £75,000= 7%

Rehabilitation Centre looking to consolidate finances £100,000= 9%

Payday loan firms offering Buy Now pay Later retail Finance

2012-12-19T04:22:00.000-08:00

Something that caught my eye this week was the news that Wonga have entered the market offering short term instalment plans for people buying goods online. It has generated some words of caution already;

In response to the news that Wonga has launched a new buy-now-pay-later service via retailers' websites, Michael Ossei, personal finance expert at uSwitch.com, said: "Short-term lending at rates of 7% may seem like a great way to ease the burden of a purchase, but there are cheaper ways to fund your shopping.

"As well as the overall cost of using Wonga's new service being relatively uncompetitive compared to some credit card deals on the market, there is a bigger cause for concern - what happens if consumers can't pay off their bills in time?

"Unfortunately, there have been a number of worrying incidents in the past where vulnerable customers have been subject to heavy-handed debt chasing practices. The worry is that this could become more widespread as Wonga expands its offering and becomes more readily available, especially if customers aren't fully aware that it's Wonga they are borrowing from in the first place.

"Although some retailers might believe the service helps their customers, by giving them another way to help pay for things, it could lead to confusion if Wonga's terms and conditions aren't clearly stated upfront. Consumers need to make sure they know exactly what they're signing up to. There is a real risk of mis-selling and unless retailers are careful, they could end up attracting the attention of the Office of Fair Trading." Source

There may indeed be cheaper ways to pay for your goods online, straight from your bank (assuming you are not using an overdraft generating interest charges) is best. However I think the point is being missed here. There are always cheaper ways to pay for things, insure things, borrow for things but that assumes that everybody has the same credit profile, is the same age or share the same general demographic as the rest of the population.

I am not championing Wonga though I suspect if it was AN Other bank or credit provider and not the high profile Payday loan providing guest star of Watchdog there would be little of no fuss. I am merely saying that a lot of people like the convenience of instalment based payment schemes that soften the blow of paying for goods and services and give them the comfort of knowing that the balance will be settled within a pre-determined timescale. How many people for example use catalogues for example? The typical APR here is usually circa 30% on longer credit terms and although interest free terms are offered over 20 - 52 weeks the cost of the products more than allows for this service.

Take the iPod Touch - available to buy from one popular catalogue for £219 with interest free terms of up to 12 months. Sounds good? Not when you consider you can buy the same iPod for £150 elsewhere which even if you allow for a chargeable APR of 30% you are still far better off buying it this way than putting it on your catalogue account. The catalogue however offers payment terms of 12 months and this it what appeals to people, being able to pay £4 or so a week. The equivalent APR when comparing the cost of buying the iPod online and paying catalogue terms is actually around 100%

People need to read the terms of any credit agreement and I wouldn't suggest anything else in this case either but I do think that people need to take a broader view. The new Wonga product is is merely a niche lending product that will suit some and not others, if you fear you won't be able to afford it then seriously consider why you are looking to borrow it in the first place. These are the same guidelines for any personal loan or finance scheme.

Short term finance and Bridging Loans

2012-12-05T09:53:00.001-08:00

Another new offering from Money Solutions Uk

Please find attached some more information on our Commercial and residential Bridging Loans.

We can offer finance in the whole of England, Scotland and Wales with LTV Of up to 60 %.

The suitable property deals that we can offer short term finance on are:

1. Unfinished new Build Developments.

2. Structurally Impaired Houses

3. Renovating Derelict Houses

4. Non Mortgage Structures

5. Land with detailed Planning Consent for up to 6 houses.

We can add value with this offer with the following unique selling points:

1. We deal with the Principle Lenders who are privately financed

2. We will receive direct communication from the Directors of the business

3. We can arrange funding for people with adverse Credit.

4. We can offer second charges on residential Properties and also Commercial properties.

We are also interested in the following loan proposals:

1. Taking out existing Bridges

2. Taking out trustee in bankruptcy and IVA

3. Commercial Property.

4. 2^nd Charge with heavy adverse

For more information about this and other commercial mortgage offers contact us via the website or email

Looking for a loan but not with a full credit check

2012-11-21T10:35:00.001-08:00

As I have blogged before there are one or two lenders around that will offer you a no credit check loan so long as you can meet certain criteria. There are asset backed facilities where to borrow money you will need to put up your luxury car, piece of fine art or watch for example. You can can borrow up to £1,000,000 in this way.

For smaller personal loans or between £500 and £7500 with no credit check then a guarantor loan is likely to be the only viable option . You simply need to provide the added security of a guarantor who gives the lender comfort that the loan will be repaid if you default. This can be especially useful if you have little credit history or indeed a rather tarnished one.

These loans can be processed very quickly and can be useful to perhaps consolidate other loans at higher rates such as payday loans. Granted a loan like this with an APR of circa 50% may sound high to some but if you have payday loan borrowings and aren't clearing them every month you will inevitably be paying APR's of 1000 plus. If you can find a guarantor and have not been made bankrupt or are in an IVA then a no credit check loan or guarantor loan may well be the answer.

We helped a customer on limited verifiable income and with adverse credit get a car loan paid out yesterday on an application she made only the day before. This shows precisely how swiftly the application can be processed if you have a suitable guarantor to help you with getting a loan.

For more information visit our site page dedicated to loans with no credit check

Guarantor loans - A possible solution for people with a poor credit history

2012-11-13T09:57:00.001-08:00

Guarantor Loans are a solution for customers who have never had credit in the past or have got a history of bad credit. There are many loan products available in the Uk, but the guarantor loan enables customers who have a good character and willingness to pay the opportunity to raise a loan should they need one. It could be seen as an irony that consumers in the uk who require credit the most are the least likely to get it. privilege.

Customers who have a lower credit score, whatever the reason are generally perceived to be a higher risk to banks and finance houses many lenders are therefore simply unwilling or unable to take on this type of financial liability.

If you apply for a guarantor loan then you are effectively “guaranteeing” that your loan will be repaid to the lender. The lender is able to protect their exposure by allowing a guarantor to cosign the agreement so that if you, the applicant fails to pay your loan back to the lender they’ll be able to pursue your guarantor also for payment. It gives them a way of mitigating their potential losses so offering loans with a guarantor allows them to lend money to those who normally wouldn't qualify for such services.

Guarantor loans are most likely not for customers who may have a poor credit history but have no genuine intent to improve their situation. It is similar to applying for a job and not being able to supply character references. This type of loan will only be helpful to a customer who can find someone who is deemed a secure and responsible individual to stand guarantor to the loan. The guarantor for the loan is ultimately responsible for the payments should the applicant default, this is the lenders security.

You can borrow from £500 to £7500 and can find out more about this type of loan by visiting us HERE

Alternatives to payday loans

2012-11-09T07:25:00.003-08:00

So, Derbyshire Building Society have just launched an incredibly low personal loan product 5.5% APR Representative for loans of £7,500 to £14,999 for up to 5 years. If you "Only" want to borrow £5000 then the rate jumps to a still excellent 7.2%. By comparison Payday loan lenders are regularly seen advertising APR's that run into the 1000's. Of course the APR's are skewed by the short term nature of the loan and comparatively processing costs also have a greater impact but none the less here you have the two ends of the personal loan spectrum.

In between these poles is a broad range of lenders that will advance anything from £500 to £50,000 on an unsecured basis subject to your credit profile and affordability measuring up. Now, not everyone will be eligible for a loan at 5.5% because to be frank this will only be available to customers with an excellent credit profile, stable employment and fully traceable residency history. It's fair to say as well that many customers are only looking to borrow lesser sums and simply don't want £7,500. There are still though plenty of other lenders whose rates for example start at 12.9% for borrowings of at least £2000 that are worth considering.

If you can get a loan from your own bank then my advice as a broker is often to take it. We can offer a competitive rate of 7.9% for unsecured homeowner loans over £5000 but quite often your own bank or one of the major high street lenders will do a better deal on larger loans assuming again that your have good credit history.

The options for tenants or those with a weaker or bad credit profile become more limited. Guarantor loans though expensive at circa 50% APR are still a snip if you have run up and rolled over a couple of payday loans at 2000%. So long as you have someone who trusts you to repay the loan and is happy therefore to stand guarantor then you can borrow form £500 to £7500 if required.

Ultimately you want to try and get the best rate you can and the most manageable monthly payment - so shop around, use a broker (ideally one not charging up front fees) like moneysolutionsuk and think before you apply.

Commercial Asset Finance solutions

2012-11-01T10:31:00.004-07:00

Following the announcement of ING Lease UK to wind down their asset finance lending as of November, we can now offer a new hire purchase loan for values of £20,000 and over.

We can arrange funding up to 120% of the purchase price by funding the VAT if required. Qualifying assets for a hire purchase loan include any assets with a high resale value such as wheeled items, oil dripping assets, plant, machinery, equipment and more. The existing credit assessment simply requires two years of filed accounts and demonstration of affordability of the loan.
Don't forget we can also lend for any asset purchase up to £100,000 using our unsecured loan. Contact us today with your enquiry.