Self Employment & Retirement
As is the case with all credit you must be able to repay it. Which means you need some form of reliable income. And the repayments need to be affordable – i.e. fit easily within your budget.
But this doesn’t mean you need to be full time employed. Our lenders are able to cater for a wide range or employment or income situations.
Loans for Self Employed
If you’re running our own business and so are self employed then you might find that your monthly income varies. This has traditionally been a worry for lenders, but a new raft of lenders are prepared to consider loans to self employed people. And you may improve your chances even further by finding someone to guarantee your loan.
About Unsecured Loans
Loans for Part Time Workers
Part time working includes anyone who is working fewer than the hours contracted by a typical full time worker. So, it is likely to include people working half days, short weeks, or perhaps evening work. You could be a student fitting in a few hours work between studies. More likely you are someone who would prefer full time work but simply can’t find such a job. Or you could be someone who prefers the flexibility that part time work can provide.
Regardless of the reason if you want to get a loan and work part time the issue for the lender will be two-fold:
- whether your work is regular enough and stable enough to ensure the loan is fully repaid
- whether our income is sufficient to meet your monthly repayments; i.e. is affordable
However, there are lenders who will consider your application particularly if you are not looking for too large an amount. Look at your options using our Find a Loan tool.
Loans for Pensioners
70 is the new 50! The fact is that being a pensioner means you still have a good earning potential as well as your pension to fall back on. So more and more lenders are willing to consider making loans to people who are over 65.
Even if your pension isn’t quite enough to cover all your expenses and repay your loan you may have the time to do some part time work to provide a supplementary income. And lenders will be happy to include this in their affordability calculations.
Loans for People on Benefits
Being dependent on your state benefits to cover a loan repayment will never be easy and the amount you might be able to borrower could be limited – your best option may be to consider a doorstep loan.
Can I get a loan if I’m Unemployed?
Maybe, so long as you don’t need to borrow much and aim to repay it in a reasonable time. As with being on benefits your best option may well be a cash loan delivered to your door.
If you’re uncertain which type of credit might suit you or you have a money problem then one of guides may help you. We summarise each type of loan and their pros and cons, and address issues regarding debt and credit ratings.