If you have had bad credit in the past, or maybe you have no credit history, then you can know how difficult it can be to get approved for a loan.
You may need a loan to buy a car to get to and from work, or to consolidate other bills and debts, maybe a loan to move house, get married, fix up your house, but with having bad credit, and not owning any property, getting a loan can seem impossible.
There are loans available to borrowers that are not homeowners but tenants, and do not own any property.
Payday loans are short-term small loans that carry with them a high interest rate/APR. These loans are for people with bad credit, or no credit, and who require a small loan, of a few hundred pounds, and can repay the loan on their next pay period.
These loans are based on affordability, and that the borrower has a job and a bank account.
Since the loan is to be repaid usually within 30 days, the APR can be 1500% or 2000%, or more!
These are loans for someone who may have bad credit, but also owns a car. For the loan you are pledging the car as security or collateral.
This form of bad credit loan is based on affordability and the fact the borrower has a car of some value.
Should the borrower not be able to repay the loan, the car is then at risk.
Guarantor loans are approved based on affordability and also the fact there is someone guaranteeing the loan.
The loans are not secured by a car, so there is no risk to any vehicle the borrower may have.
The loans can be for longer terms than a payday loan, and have much lower interest rates, so payments can be more affordable.
Buddy Loans is a direct lender £1000-£7500 +441618504141 Alexandra Court, Carrs Road, Cheadle, SK8 2JY rated stars by Trustpilot.com based on 1128 merchant reviews
Always helpful, reliable and will go out of there way for customers, never had an issue an this is my second loan with them Same great service each time!
Great Company, the communication from start to finish was great, my loan was quickly approved and I received the full amount within 48 hours. I highly recommend Buddy Loans to anyone looking for a guarantor Loan.
Great customer service
I dealt with 2 people mainly and they were soo helpful. Couldnt ask for better customer service.
Very helpful, everything was explained to me and I was asked if I understood each step. Good communication and all callers very friendly. The loan will take a lot of worry off my daughter and I was happy to be her guarantor.
I found them very polite and helpful, they quickly and efficiently sorted out my loan and kept me up to date with its progress. Daniel in applications was brilliant as was Paul in the underwriting team. Thoroughly recommend them!!
Prompt and fast payout
A very professional firm with very little paperwork involved all done and completed within a week. Faultless.
I was a guarantor
These were great. Polite, professional and had a genuine concern to ensure all was explained. I was the guarantor for a good friend and know these guys helped him so much.
Excellent friendly helpful service
Every person I spoke to was very friendly and helpful and they were very knowledgeable about their product would recommend to anyone looking for a loan
Amazing service and very easy and simple process
Amazing service and very easy and simple process. Thank you very much. Would highly recommend. Staff were great very friendly and very informative about everything
From the initial application online right through to the pay out team, brilliant! Easy online application followed by a prompt call back. The whole process was explained thoroughly by a friendly team. Can't thank Buddy enough!!
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Representative 49.9% APR.
Terms and Conditions apply. Suitable Guarantor required. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over.
Minimum period for repayment: 12 months | Maximum period for repayment: 60 months | Minimum APR 49.8% | Maximum APR 49.9%
Representative example: Amount of credit £3,250 for 36 months. Interest (fixed at 41.16%): £2,464.57. Total amount payable of £5,714.67. Representative 49.9% APR (Variable). 36 repayments of: £158.57.