Yes, there are lenders in the UK who give small loans of £100.00-£1000.00 without asking for any collateral or security deposits. While in the past, these loans were given only for short periods of 14-21 days, now they are given for periods as long as 1 year. In fact, the product was called Payday loan because the loan that was taken was repaid when the borrower gets his or her next Payday cheque. Now that the period is stretched to 12 month, the new product is called 1 year same day loans.
The financiers of these credits do not ask for any collateral or security deposit and they do not refuse you a loan if you have bad credit ratings. So if you have debts, arrears, unpaid dues, CCJs or IVAs, etc. do not hesitate to apply for a loan. Your application will still be accepted and processed.
How do you submit your application? Application forms are available online at many different websites. You can get online in the comfort and privacy of your home, fill up your application form and submit it. Being an online application, it will reach the lender instantly.
They will hurry to get back in touch with you to discuss details and finalize your loan. The form itself is so simple, it only asks for very basic details. You are asked your age (thee loans are only given to adults); your permanent residential address; and if you have a bank account, the money you asked for is transferred into your account. Alternatively, the funds are delivered to you by cheque or cash.
You need not send any documents by fax when you send your application form.
After you receive your loan, you get a full 1 year to repay.
