Guaranteed Personal Loans Do They Exist?

Guaranteed Personal Loans

As of late, there has been much talk and speculation about guaranteed personal loans in the UK and other places in the world. There are many lenders who claim to guarantee you will get a personal loan if you apply with them, no matter what the status of your credit rating may be.

This has left many people asking themselves how a legitimate lender can approve all loan applications. If you have bad credit and are thinking about visiting a lender who claims to give guaranteed personal loans to all applicants, you will want to be sure and check that the lender is not being economical with the truth shall we say.

First and foremost, there is no lender that will approve every loan application that they receive.Any lender who claims that they give guaranteed personal loans to every applicant may not be a legitimate lender at all. However, there actually are some reputable lenders that have a loan application approval percentage of ninety-five percent or more, even for those applicants with bad credit.

High Rate Of Loan Approval

The reason for this high percentage among some legitimate lenders is because they do not run credit checks.The legitimate lenders who have a high loan application approval rate will call the loans that they administer to people a bad credit personal loan or a payday loan.

To be eligible for these loans, you will have to meet some minimum requirements. The lender will need to see proof that you have had your job for at least six months and that you have lived at your current residence for at least three years, a previous address will be required if you’ve lived there for less than three years.

If you can prove that you make a monthly income and have lived at your current residence for the required amount of time, you may be eligible for a loan. Usually, the lender will require that you have a monthly income of around one thousand pounds or more.

Guaranteed Personal Loans Do Not Really Exist

There is no legitimate lender that will approve one hundred percent of the loan applications that they receive. There are some legitimate lenders that will approve many people with bad credit so long as they make a certain amount of money and have lived at their residence for a certain amount of time, but they will not be able to guarantee everyone a personal loan.

If you’re looking for guaranteed personal loans we can’t help, but if you need a personal loan we can search 90%+ of the UK loan market to improve your chances of getting a loan today with the lowest rates and best terms available. We offer a quick application with no obligation whether you have good or bad credit we can help. Get your Quick Loan here now.

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