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10 July 2010

You must have noticed that a number of times, your loan application form get rejected on grounds of your inability to produce any income proof? But when you are a self employed individuals, the question arises, how are you going to arrange the document? In such a situation, the best thing for you to do would be to make use of the no income proof loans, which are way too easy to avail and can be instantly availed, without having to face too many constraints.

In the case of no income proof loans, the entire processing takes place online, where in all the details required have to be filled in an application form. The basic advantage of applying online is that you get to source the funds without the need of leaving the comfort of your home or office. Besides, with no documentation and paperwork, you get to save a lot of time, which is indeed beneficial.

These loans are further classified in to secured and unsecured form. Secured form of the loans are of course collateral based and can be sourced to derive a bigger amount. The collateral placed can be your home, car, land or anything that has substantial amount of equity. Through this option of the loans, you are free to avail any amount in the range of £5000-£75000 for a period of 5- 25 years. Interest rate levied is as usual low, due to the presence of collateral. On the contrary, through the unsecured option, you can avail a limited amount in the range of £1000-£25000, which then has to be repaid over a period of 2-10 years. Since the loan amount is approved without any collateral, the interest rate charged is slightly higher than the normal rates. However on undertaking a detailed research and by making a proper assessment, you can certainly get access to suitable offers.

With no income proof loans, you have a definite chance to fulfil your needs and demands. In fact the main intention of the loans is to assist you resolve financial irregularities.

Summary:

No income proof loans can be sourced easily, as it is mostly available online. These loans are bifurcated in to secured and unsecured form, so that the applicants can derive it on the basis of their need and requirement.

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