Loans for Single Mums on Benefits UK

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Representative 277.5% APR Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed). The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances.

Home » Single Parent Loans

Being a single parent is one of the most difficult vocations in life. Single parenthood comes with a unique set of challenges that can feel overwhelming at times. The anxiety over money can be especially stressing and when there is simply not enough left on the table to make ends meet, taking out a loan is the only option. Luckily for all the single parents in the UK, there are safe and reliable loans for single parents that can help you in times of dire needs.

single parent loans

Loans for Single Parents

In the UK, there are plenty of reliable brokers like us at Pick-A-Loan who understand the difficulties that a single parent has to overcome every day to bring up their children on their own. That's why they have tailored their loan application services as well as approval procedures to be as easy and hassle-free as possible. Depending on your need and present circumstances, you can take out single parent loans to address different urgent finances.

Small loans for Single mothers

If you are a single mother and you need to take out a small loan to cover utility bills and urgent expenses like washing machine repairs, you can take out small loans for single mothers online and have the money that you need without much delay. Among the small loans for single mums available in the UK, the most popular options include:

  1. Payday Loans for Single Mothers - Single mothers and single fathers too, can borrow small cash advances from payday loan brokers such as The amount can be as low as £100 and as much as £1,000 that needs to be paid back in full including interest rates after a month or longer.
  2. Doorstep Loans for Single Mothers - If you are simply swamped with the everyday duties of single parenthood, taking out doorstep cash loans is the relief you are looking for. You can take out the loan and get the money that you need right at your very doorsteps from a friendly local agent.

Once you have made your application, lenders will make a quick evaluation within minutes. You will instantly know whether your application is approved or not, in no longer than an hour from submitting. If you are approved, the money is deposited into your bank account the next day or on the same day, you made your application. In the case of doorstep loans, the money will be handed to you personally after you have signed the loan deal at your home.

Single Mother Loans Bad Credit

What if I am a single mother with bad credit, can I still get a payday loan or doorstep loan? The answer is a sure yes. Many payday and doorstep loan lenders cater loan applications from single mothers even if they have bad credit, poor credit history, or no credit history at all, provided that they are regularly employed. Normally, here's what you will need to take out single mother loans bad credit:

  1. A valid proof of identity and address.
  2. A valid UK bank account.
  3. A valid Proof of income or salary

Loans for Single Parents on Benefits

If you are unemployed and living on benefits, you can also apply for loans for single parents on benefits and enjoy convenient short-term financing online. As long as you have some assured and regular source of monthly income (benefits, grants, rent, credit from investments, pension, aid, etc.), you can take out loans for single parents on benefits to cover different urgent finances. However, it must be pointed out that short-term loan lenders like payday lenders tend to favor applicants who are regularly employed. This means that your chances of getting approved will improve dramatically if you are employed.

Loans for Single Parent Pensioners

Loans for single parent pensioners are special loans tailored for single mothers and fathers who are relying on their pensions for their finances. There are a few lenders who specialize in providing loans for single parent pensioners and taking out a loan from these lenders if you are unemployed will give you a better deal overall. As long as your pension is enough to afford the repayments, you can take out a small loan and get your money quickly without much hassle.

Loans for Single Parents are Safe and Reliable

Loans for single parents are just as safe and reliable as traditional loans offered by banks and other mainstream lenders. The only thing that you need to be aware of is that payday loans and doorstep loans are not designed to provide long-term funding. With the right broker like Pickaloan you can rest assure that all the information that you share is regarded with optimum safety and privacy.

Key points

  • Single parent loans are designed to assist single fathers and mothers who are trying to make ends meet.
  • These loans can sometimes be short term or long term depending on the preference of the customer.
  • Direct Lenders give special preferences to single parents when it comes to giving out loans.

Single Parent Loan FAQs

How does it work?

These are normal loans that have been tailored to suit the specific needs of single parents. Hence, similar rules may still apply but they are well suited for people who are looking to keep their lives going in the absence of their partners. The application procedures are not as cumbersome, and customers can expect to receive a prompt response from prospective lenders within minutes of sending in a loan application. Once your application is deemed successful, other processes automatically begin to ensure that you get the loan amount.

How much can I borrow?

This may vary from lender to lender, but it's not exactly fixed. Because these are single mothers who are trying to keep up with their bills, lenders may willing to consider giving them cash advances that may be slightly higher or lower than what they give out on normal occasions. Single mothers can get quick short terms loans or try the long game of securing a long term loan if they have all of the required documents. Only borrow cash amounts that you can pay back without having to alter your daily financial operations.

Loans For unemployed single mothers uk

Some lenders offer loans for single mothers on benefits. So if you are unemployed and you live solely on benefits, this type of single parent loan will be of immense help to you during emergencies. But you must know that priority will always be given to customers who have regular paying jobs. You can compare lenders to find out the one with the best package for you.

Do I need a guarantor?

Well, if you are looking for urgent cash to solve your financial problems and other bills, lenders may not be too keen on your ability to provide a guarantor before they grant you a loan. Other criteria like your credit score will be a deciding factor. However, if you are applying for a large sum of money, direct lenders in the UK may feel more comfortable giving you the loan if you have a solid guarantor backing you up. Whatever the case may be, do not secure loans that you won't be able to pay back on their due date.

How do I qualify for loans for single parents on benefits

This is quite simple.

  • You must live in the UK and have proof to show.
  • You must be above the premium age of 18.
  • You must be able to provide proof of your regular income if you are employed.
  • You must operate a valid bank account.
  • An identity card may also be required (this depends on the lender).