The
UK’s total consumer debt in 2012 was £ 159.6bn; it became £ 197.3b in 2017.
Similarly, the total student in 2012 was £ 46.9bn that became £100.5 bn in
2017. The total household debt increase was 7% during 2012- 2017. The debts in all the categories are mounting
up. The overall wages hike in the UK during 2012- 2017 was just 0.7% while the inflation
rate in 2017 was 3.1% - a six years high. As result, most of the UK residents
are feeling squeeze on the living standards. The rising demand of ‘loan no
credit checks’ proves that the UK people are facing problem in meeting out the
day to day expenses while maintaining the same living standards.
Loan With No Credit
Checks- What Keeps Them In Demand:
The
Bank of England recently found that 89% of total card debt was held by the consumers;
and, the majority of these were in debt 2 years ago also. The majority of British
consumers are facing turbulence of mounting credit card debt; the most of these
accept that they never thought of holding the credit card debt for such a long.
In the prevailing economic conditions in the UK, it is very common for the
people to live under the burden of debt despite paying the debt of one credit
card because they shift the debt from one credit card to another credit card.
It was a surprise for most of the financial agencies when a recent study
revealed that 9 out of each £10 outstanding credit card debt in 2016 - November
was on hold by the people who were marked ‘red’ two years before.
The
personal credit card borrowing increased almost 5 times to the growth rate of
average UK pay. The stagnant real earning growth in 2018 may push more UK
households for debt to manage their living cost. The story comes to end with
the conclusion that bad credit history has become the common financial trait
that is why more people are exploring the options to get no credit check loans from direct lenders instead of mainstream financial institutions.
Same Day No Credit
Check Loans in the UK:
Have
you ever had a loan from regular bank? Or have you ever tried to take a loan
from mainstream banks while having bad credit score? If yes, you would be quite
familiar with the problems like complex documentation, time taking process,
personal involvement in follow ups, geographical distances, uncertainties etc.
The rigid terms and conditions, which are often same for all, also force you to
think twice to proceed further or not. The majority of potential borrowers trying
funding from Govt. sources find themselves in soup when they need money with
urgency; here, comes the role of online direct lenders.
The numbers of online private financial agencies exist in the UK’ and, all these offer attractive tailor made deals of same day no credit check loans. These loans are sanctioned same day without checking your credit score; it means no waiting and no complex documentation. The flexibility, longer repayment period, fast process, personalised treatment, excellent support are the key advantages of applying for no credit check same day loan at a FCA authorised direct lender.
The Variety of No
Credit Check- Unsecured Personal Loan:
Almost
all the loans being offered by the reputed lenders in the UK are same day loans
because the lending agency believes in closing the deal at the earliest. The
private finance lending agencies are continuously expanding their product range
to facilitate the borrowers apply for the best suitable same day loan type like
unsecured personal loan, payday loan, no guarantor no credit check loan,
long-term loan, poor credit short-term loan etc. The interest rate of all the
loans varies according to the loan amount, repayment period and borrower’s
credibility. Getting different interest rate for the same loan amount and
repayment period is a not much of surprise because different leaders propose
the deals at different APR.
