Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
Credit subject to status & affordability assessment by Lenders.
Oyster Loan is a credit broker and not a lender
The rate you are offered will depend on your individual circumstances.
All loans are subject to status. The interest rate offered will vary depending on our assessment of your financial circumstances and your chosen loan amount.
Representative APR example: for comparison purposes 12.9% APR Representative Fixed based on a loan of £10,000 repayable over 60 Months. Monthly payment of £223.43 total amount repayable £13,405.80.
There is a marketing gimmick on Google that a no credit check loan is a short-term loan that is given to a borrower without conducting any credit checks on their report,. However, in reality, such loans are illegal and invalid in the UK. Generally, lenders use a soft credit check to assess the affordability of loan repayment before providing an initial loan quote to the borrower.
A soft credit check helps in protecting your credit score as it doesn’t leave any footprint on your credit report. That means you get an idea of what rates of interest you will be offered without affecting your history.
No, there is no such thing as loan without credit check. The financial regulator of the UK – the Financial Conduct Authority – has made credit checks mandatory. Borrowers used to borrow a hefty amount of money and when they failed to repay, they had to pay more than twice the borrowed loan amount. Hence, a proper review of the credit history will a lender to evaluate a borrower’s financial conditions and his capability to repay the loan so that the borrower doesn’t get caught in a debt trap.
You may avail short-term loans with no guarantor to cover your emergency expenses. These loans don’t require any collateral or guarantor. Moreover, they are easy to use and are quite flexible in terms of repayment. A borrower may repay the loan within a period of a year in easy monthly instalments. You can check Oyster loan for no processing fees no guarantor loans.
Considering the aspect of financial management, there are several benefits of availing a loan with credit check rather than falling for a trap of availing loan without credit check
Oyster Loan is an FCA registered credit broker that deals with a panel of FCA authorised lenders of the UK. We promote responsible lending and hence, our lenders conduct a credit check to safeguard the interests of the borrowers. We deal in a wide variety of short-term loans to cater to the financial needs of borrowers.
We do not charge any upfront fees and our simple process of a loan application will help you avail a loan in a relatively faster time and in a trouble-free manner. Borrowers must repay the loan on time to avoid any negative impact on their credit score. And timely repayments always contributes to building a good credit score.
We strive to maintain the standard and fair industry practices to enhance transparency and systematic approach in our conducts.
Oyster Loan is a licensed LOAN BROKER and not a lender. The website is registered in the UK and is authorised and regulated by the FINANCIAL CONDUCT AUTHORITY (FCA). WARNING: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK.
Oyster Loan does not charge any fees. If you are contacted by anyone claiming to be from Oyster Loan and requesting you to make a payment, report it to www.actionfraud.police.uk.
All Loan approvals & Quotes are subject to Credit Score and Affordability requirements by lenders. If you meet the lender's criterion, you can borrow the money. We as a broker make an attempt to process your application with the most suitable lenders in our panel.