Use of a loanfinder growing in the UK
For many years loanfinder has been directly linked with the kind of unsecured loans brokers that charge broker fees for the right to simply apply for unsecured loans for people with bad credit. The problem for people trying to find loans has always been the lack of publicity surrounding bad credit loans. More often than not people struggle to tell the difference between unsecured loans and secured loans and loanfinder type companies have often been stuck in the middle. The loanfinder and unsecured loans market used to rely on brokers to produce it's explosive growth but this came at a price. Brokers have had a bad press, companies like Yes Loans, Quick Decision Loans are all over the internet for charging upfront fees which while legal seem like a tax for people who are desperate for cash but have no idea what type of loans are available to them in their situation. The bottom line is if you are a tenant or a non homeowner then you should try a no upfront fee charging loanfinder that can provide you with unsecured loans and bad credit loans options without the need to pay for it.
Because the internet is becoming a focal point of information for people trying to find loans brokers are finding it harder to justify charging those excessive upfront fees while loanfinder companies are providing a similar service with no upfront fee and often with no credit checks. The other thing that has radically changed over the last year or so is peoples awareness. People trying to find a loan are improving their loans knowledge. Here's a quick cheat sheet for a loanfinder whether they are looking for bad credit loans, credit cards or unsecured loans:
- Unsecured Loans - no security involved, perfect for non homeowners and tenants
- Bad Credit Loans - a good loanfinder specialises in finding loans for people with bad credit and there are plenty of bad credit loans in the market right now.
- Guarantor Loans - a type of unsecured loan guarantor loans involve a second person in the loan agreement to act as a security on the loan.
- Loanfinder - make sure the loanfinder you use charge no broker fees and no upfront fees.
So what makes a good loanfinder? Quite simply a good loanfinder will be able to give you options regardless of your bad credit, or unemployed status. There should be no upfront fee and no credit check, at least not initially. If you want a no credit check loan then that is something they should be able to provide you with a list of options.
