Consumer Advisory: APR Rates Range From 5.99% to 35.99% Maximum APR.
Traditionally, trying to borrow money without a job has been pretty tricky business, but all of that has changed with the introduction of unemployed loans. These loan types cover a range of options which can help you to attract credit even whilst you're not working by either falling back on a strong credit score, using security to reduce the risk or by applying alongside a guarantor.
Ultimately, the lenders want to know that by taking on the loan you'll be able to make timely repayments without putting your financial security at risk. Let's take a closer look at how you can apply for loans without a job and how these lending streams work.
Unemployed loans are easiest to get if you've got a good credit history since this will help to show lenders that you're a low risk borrower in spite of your employment status.
If you don't happen to have a great credit score then all is not lost. Viva Payday Loans works with specialist lenders who can still provide loans to unemployed applicants with a less than perfect credit score.
With guarantor loans, you'll make your application alongside somebody you know and trust, who will agree to take on the loan should you ever be unable to make repayments. By offering lenders this added security, you're much more likely to be accepted if you need a loan no job.
Whenever a lender receives an application for a loan, their priority is to make sure that it's affordable for the borrower. One of the factors lenders will often use to assess affordability is your employment status, however this often doesn't paint a true picture of your circumstance.
For example, you may be due to start work soon or have other streams of income which don't fall under the standard employment definitions. Alternatively you could be a contractor who is awaiting the start of a new project
It's for these reasons that unemployed loans exist and they're becoming more and more popular in the online lending market. At Viva Payday Loans, we work with a range of lenders who are ready to say yes when it comes to offering loans without a job in place.
Applying for unemployed loans has never been easier thanks to the intuitive loan matching platform at Viva Payday Loans. We'll use the information you provide us with to scan the market and present you with the most competitive options from our panel of lenders.
Compare interest rates and apply for loans without a job online for an instant online decision. If you're accepted for an unemployed loan, you'll be able to sign and return your credit agreement online with funds usually deposited into your account within just 24 hours.
Get a great rate on your next unemployed loans by getting a free comparison from Viva Payday Loans today.