Last Updated on: 21st November 2023, 10:13 pm
A newly launched comparison website, BadCredit.co.uk, has emerged in the UK, aiming to assist the approximately 1.8 million individuals who search for bad credit-related terms on Google each month. The platform addresses the specific needs of people with poor credit histories by connecting them with lenders offering rates as low as 12.9% APR, using advanced technology for efficient matching.
How BadCredit.co.uk Works: The platform functions by evaluating user-submitted details and identifying the lender with the lowest APR on their panel willing to extend credit to the applicant. Unlike some other comparison websites affiliated with product providers that prioritise their own offerings, BadCredit.co.uk maintains complete independence and neutrality.
Benefits of Using BadCredit.co.uk: Utilising BadCredit.co.uk‘s matching service not only saves applicants time and money but also safeguards their credit scores, as only a soft credit inquiry is conducted when retrieving a loan quote. The platform grants access to over 70 providers, offering a comprehensive price comparison service for individuals seeking loans, credit cards or car finance, particularly if their low credit scores limit their options with mainstream lenders.
Paul Gillooly, Company Director at BadCredit.co.uk, emphasised the significance of this service, stating, “Google data shows that every month, 1.8 million people in the UK are searching for terms like ‘bad credit loans’ or ‘bad credit car finance’ and overall these numbers are increasing. This segment of the credit market tends to be neglected and underserved. People with low credit ratings still encounter emergency financial needs but tend to be excluded by traditional lenders and the big comparison sites.”
How BadCredit.co.uk Helps: BadCredit.co.uk-approved lenders initiate a soft credit inquiry and utilise the user-provided information to identify the most cost-effective lender within their network likely to approve the application. Users receive a no-obligation quote from their matched lender, and if they decide to proceed, a hard credit inquiry is conducted to finalise the application.
Paul added, “Although we identify as a comparison site, due to the fact that many of our users are having problems getting a loan, the emphasis is more on finding a lender that will accept the applicant based on their credit history. Unlike other comparison sites, it’s not necessarily about presenting the cheapest whole-of-market loan but more about finding a willing lender for our customers.”
For more information, please visit www.badcredit.co.uk.