Finding loans without credit check can be trickier than finding a day in April without rain.
A large portion of lenders use credit checks to assess the risk of lending money to a borrower. And if you’ve ever applied for a loan, car finance, or a mobile phone contract only for your application to be rejected due to a low credit score – you know just how frustrating it can be, especially if you’re somebody who is careful with their finances.
Bad credit doesn’t discriminate. It can affect anyone, at any point of their life, and can hang over you like a black cloud for years.
That makes being able to access loans without credit check incredibly important. Unexpected expenses don’t discriminate either. And if you’ve been hit with a car that won’t start, or a boiler that won’t work, or a bill that won’t go away – a small cash injection could be a real life-saver.
How Northern Community Bank’s loans without credit check work
Family always comes first. At Northern Community Bank our £500 Family Loan & Saving scheme is the perfect place to start if you’re looking for loans without credit check.
This scheme is available to anyone in receipt of child benefit. It doesn’t require a credit check, only an affordability check. What this means is that each and every application we receive is assessed individually by one of highly trained and knowledgeable members of staff.
While some loan companies’ systems will access your credit information, perform a quick calculation, and approve or reject on the spot. We like to understand the circumstances surrounding your finances. We’ll look at affordability, income, expenditure, payment history. Then we make a decision, only lending amounts we are confident you can afford to pay back.
We aim to reach that decision within two working days, and if you are successful, we can make a £500 BACS payment that same day.
This isn’t your usual lender-borrower relationship, though. Once you start paying us back, you’re also on the road to a brighter financial future.
3 ways Northern Community Bank can help you build better credit history and a brighter financial future
1. We’ll improve your credit history by reporting your repayments to the credit reference agency.
2. We help account holders stick to a saving or loan repayment schedule. Meaning we are more likely to relend again if you need it.
3. Our ‘Save as you borrow’ scheme helps you to build up your savings as you pay back your loan. So, the next time one of those unexpected expenses pops up, you’ll be in a far better position.
If you want to talk more about our loans without credit check, contact us today.
