Tag Archives: benefits
Loans for people on DSS benefits: Acquire sufficient cash help
Physical instability and disabilities is no more a barrier while availing a loan. With the advent of loans for people on DSS benefits now people living on benefits can easily entail quick fiscal aid, without any hindrance. This helps such people to meet their unexpected financial troubles on time. With these loans all your unexpected monetary dues can be easily sorted out well on time.
DSS refers to department of social security. Government gives DSS benefits to those people who do not hold any income source to survive their day to day needs. This is because of their physical or mental disability or being underemployed. Therefore, the fruitful provisions of loans for people on benefits have been designed for such disabled people, which provide them quick monetary backing so that they can easily fulfill their urgent needs.
For the approval of these loans the borrowers are required to qualify on certain grounds. For this they need to be more than 18 years old and must have active healthy bank account with a saving of at least £500. Plus they need to be living on DSS benefits since 8 months at least.
An amount that can be entailed through these loans varies from £00 to £1500, for a short time period of 2 to 4 weeks. As these loans are of short term by nature, thus carry a bit high interest rates because of short term nature of funds. If you want a best loan deal a careful online research is advisable.
With the help of these loans all your urgent needs can be easily settled down. This may include paying for sudden medical expense, grocery payment, car repairing cost etc.
Loans for people on DSS benefits are free from tedious and hectic formalities of credit checking, faxing and lengthy paperwork. This means the loan will get sanctioned by the lender quickly and easily. Just after applying and getting approved quickly the entire loan amount will be deposit directly to your bank account in least possible time.
Online personal loans Gaining foothold in the UK credit market
One can find a variety of personal loan products in the market bad credit loans, business loans, car loans, career development loans, cosmetic surgery loans, debt consolidation loans, education loans, holiday loans, homeowner loans, home improvement loans and wedding loans.
A recent study indicates that secured personal loans have the largest market share in the UK loan bazaar.
This can be attributed to the fact that secured deals offer maximum loan benefits like quick attention, high credit limit (normally between £5,000 and £250,000), competitive low APR (normally 6.7% onwards), flexible payback terms and negotiable clauses subject to basic credibility parameters like past credit history, DTI ratio and property value.
The above-mentioned benefits can only be availed by homeowners and property owners, because these loans necessities pledging collateral against the loan amount. Secured loans:
Are suitable for big monetary requirements, as the credit range is quite high
Are probably the only option for people who have been denied an unsecured loan
Are most suitable for bad credit holders, as loan benefits are maximum .
Cons of availing personal loans in secured form:
As an alternate form of repayment, collateral protects the lenders investment, i.e., in case of repeated defaults or non-repayment, the lender can take over the pledged collateral to recover his money. Also, a secured loan deal has an additional thing time-consuming property evaluation procedure, which requires a lot of time.
Growing popularity of online loans:
Another study indicates that the online personal loans are catching up in the UK loan bazaar, as more and more people are opting for loans over the Internet. This can be attributed to:
Convenient presence of numerous lenders, who make loans more accessible and the entire loaning process very expedient
Greater transparency in lending rates across the country
Cheap loans as compared to conventional lending institutions, as their overheads are comparatively less .