How Do We Achieve 100% Acceptance On Loans Without A Guarantor?

Financial problems are there, and you cannot run away from them. Since you are taking care of your family’s needs, managing the problems is your responsibility. If you think someone else should take the onus, you are wrong, mate.

There is another point. You do not need to go away from financial issues when you have options to explore. We are talking about the loans. Yes, the UK loan marketplace possesses several loan products in which you can make a choice.

For instance, some reliable direct loan providers in the UK, like QuickLoansLender, offer loans with no guarantor. These are short-term loans where you do not need any other person to take your loan guarantee. These are easy loans, but of course, some norms will be there.

Many people opt for these no guarantor loans when they feel helpless during financial emergencies. They do not need to waste time in finding someone who should have a good credit score and a homeowner to be their guarantor while signing the loan contract.

You might think (like most individuals feel) that loans where no personal guarantee is needed are always available for acceptance. Sometimes, you might feel relaxed by aspiring for 100% acceptance loans with no guarantor from a direct lender. Is it possible?

Let us focus on its possibility in the following part of this blog.

What is a 100% acceptance loan & why is it difficult without a guarantor?

When it comes to 100% acceptance loans, everyone thinks that the lender, in any condition, will accept loans. It may be the correct definition of this concept. Wait. There is a clause as well.

According to the concerned financial authority, no lender can promise a full guarantee of loan acceptance to any individual until they prove their affordability. In other words, if the applicants can prove their loan affordability, they will get guaranteed loan approval even if no guarantor is needed.

Now comes the affordability. It means one has to show that they can repay the borrowed amount according to the given schedule. They have to do so from their monthly income rather than from savings. The lender can deny their loan applications if they cannot afford the loan and its interest rate.

Therefore, you should know your repayment capacity before applying for any loan. Now, let us move our discussion towards this direction.

Ways to achieve 100% acceptance on loans with no guarantor

There are multiple ways to get a full loan guarantee from the lender if you prepare yourself ideally. If you are unaware of those ways, we will tell you some of them here. You can go through them and follow while aspiring for 100% acceptance loans with no guarantor from a direct lender.

1.  Stick to your affordability

This point is very important. As mentioned above, loan affordability is key to your loan approval chances. You should borrow a loan amount you can repay from your monthly income. Never ask for such an amount which you later find difficult to repay.

Analyse your monthly income and savings, and then decide the amount. In addition, use the loan calculator to calculate how much amount would be sufficient along with a particular interest rate and monthly instalment.

2.  Stay on your full-time income

The advantage of direct lenders like QuickLoansLender is that you can get approval on your part-time earnings. This is because only affordable loans are allowed. However, if you are applying without a guarantor, getting a loan with a full-time income will be good.

When you are earning a stable job, it gives security to the lender that the repayment will be made from the applicant’s end. A stable income can guarantee complete loan acceptance even if your credit score is on the borderline.

Still, there will not be any problem if you are earning part-time income. The direct lender can agree on it, but again, you will get only a small amount to borrow, which is affordable.

3.  Put an asset as loan collateral

Another way to get guaranteed loans with no guarantor is to put collateral that works as the loan collateral. You can keep your valuable assets to secure the borrowed sum, but it should equal the loan amount.

Providing collateral against the loan has two significant benefits. First, you can have guaranteed approval on loans, as the lender is safer and can repossess your asset if you cannot repay. Second, you can fetch a larger amount and for a longer duration. It means fulfilling the larger financial goals is also possible.

4.  Maintain a good credit score

Maintaining a good credit score is another trick to achieving 100% loan acceptance despite not having a guarantor. Many people do that by making all payments on time and not applying for too many loans.

Another important thing is that you should not have any pending debt while applying for a no guarantor loan. If you have, it would be better to clear that debt by taking a small loan. Here, too, there is no need for a guarantor.

5.  Do not make any mistake in the application form

The above points were dedicated to the preparation to get guaranteed loan acceptance. This point should be followed during the loan application. If you want the lender to accept your loan application, then there should be no mistake from your end in the application form.

You should fill the boxes given with pure and genuine information. There should be no false personal details from your end. If you do the same, the lender has no problem accepting your loan application. On the other hand, if you put anything wrong or irrelevant, the lender has the right to deny your loan application.

In the nutshell

There is always a possibility to get 100% acceptance loans with no guarantor from a direct lender like Quick Loans Lender. It is a huge benefit for you, especially during the financial emergencies. However, some instructions or preparations have to be followed to achieve this.

Ultimately, the road is convenient. You only need to drive carefully to reach your destination, i.e. guaranteed loan approval.