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What are single parent loans?

Single parent loans are the instant funding options that are designed to help the people who take care of their children independently. Their struggle on financial fronts usually is more than a complete family where a couple has mutual responsibilities. The loans have flexible terms and conditions to ensure easy reach of funds for the people in need. ExtramileFinance offers a vast range of loans irrespective of any other constraint. It means those living on single parent benefits in the UK can borrow money.

Loan options for single mothers/ single parents

At ExtramileFinance, we fulfil varied types of financial needs from the instant one to the long-term.

You can make a choice and can borrow smoothly while qualifying on the basic parameters of affordability. It is essential to mention here that all the options are available on instant approval decision. Fund disbursement happens on time but after scrutiny of current repaying capacity.

  • ok icon white1Short term – Duration 3 months……..2years. Loan amount £1000………£3000

Short-term borrowing is suitable for instant needs. Mainly, the applicants living on grants for single mothers in the UK apply to us for this loan. From personal expenses to medical bills, these loans have no purpose constraint and reach your account quickly.

  • ok icon white1Medium term – Duration 2 years…………5 years. Loan amount £5000…………… £8000

Medium-term loans are also in demand due to their balanced nature in tenure and loan amount. Sometimes people do not need a small amount and also a very big fund. In that case, medium-term loans help fulfil the needs with a suitable amount of money to handle the relatable expenses.

  • ok icon white1Long term – Duration – 5Years…………10 years. Loan amount £9000…………….£20,000

As you can easily understand, long term loans offer financial security for an extended duration. As this is a long-term borrowing option, we need collateral equivalent to 80% value of the funds borrowed. To offer the best rates and repayment plans to you, we need to apply the terms and conditions.

Types of loans available for single mother/single parent

According to the needs and financial circumstances, the types of single parent loans help solve your multiple issues.  To provide timely help for single mothers in the UK, we have categorized the loans.

  • ok icon white1Unemployed Loans – Unemployment is a tough time and for a single mother, it can make things worse. The money received from benefits may not be sufficient to pay all the expenses. Above all, there can be no compromise in the care of a child. The unemployed loans for single mums on benefits in the UK help manage financial obligations on affordable instalments.
  • ok icon white1 Student Loans – Students who become a parent in a young age have a much bigger struggle than a mature mom who knows e everything. Student finance for single parent is a convenient way to find financial respite during tough times. You need to learn a lot in life, and money is the most extensive support for survival. Borrow at a low rate and pay back with ease.
  • ok icon white1 Doorstep Loans – Get money at your door. All formalities will happen at your house including the fund disbursal. We provide funds at home to the applicants on the grants for single parents in the UK. Our home loan agent comes to your place at a convenient time and will complete the formalities. You can sit comfortably on your couch.
  • ok icon white1 Home improvement Loans – A mother is always cautious about the security of her children, and for that, a strong house is necessary. It is the reason that every year, we get many applications for home improvement loans for single parents. Like all other deals, these are also light on your pocket. Just prove the current repaying capacity and borrow money online and instant.
  • ok icon white1 Payday Loans – The employed single parents can use their salary day as a solid point to borrow quick funds in a short time for an extremely urgent need. At midnight, in the early morning, during travel, anytime, you may get into a situation that demands money. Don't worry; with our payday loans, you can obtain funds through an instant online process that can be done on mobile conveniently.
  • ok icon white1 Bad Credit Loans – Single parents always struggle with bills payments, child education expenses and many other obligations. It isn't easy to have sufficient funds all the time to pay the costs. In case of missed bills and debts, a poor credit score happens. Through loans for single mothers with bad credit stressful financial circumstances can be tackled.
  • ok icon white1 No Guarantor Loans – Borrow money without any guarantor on your repaying capacity. This facility is with short-term and medium-term loans. However, the repayment capacity and recent financial behaviour are the prime pillars to approve funds. The factors like employment stability play an essential role to help a fund seeker qualify.
  • ok icon white1 Installment Loans – Another name for short-term single parent loans that reach your bank account in a very short time without any delay. The small needs can be easily satisfied with online installment loans. The personalized pricing of deals and attention to current income more than the past financial situation gives you a chance to borrow hassle-free.

Loans for unemployed single parent – Not a struggle anymore

Unemployment is, of course, a sudden shock to your personal finances, and it can ruin your mental and financial stability. But before any such thing happens, why not treat your situation with a suitable solution. The loans for the unemployed are here to save you from the money mess. The good thing is that these are also available for the parents who are still pursuing their education. The affordable financial help for single parents in full time education can be helpful. Invite normalcy in life and keep repaying the loans conveniently.

  • ok icon white1Arrange a source of income such as part-time income, rental income etc.
  • ok icon white1Make sure the income source produces consistent income.
  • ok icon white1Provide the appointment letter if you have qualified for the new job.
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Loans for single parents with bad credit

Of course, a poor credit situation is a stress condition and creates multiple issues in personal finances. But fortunately, direct lending provides relatable solutions to single parents. The bad credit loans for single parents offer relief during difficult times and provide money on easy terms and conditions.

The eligibility criterion for loans for single parents

More to less, the criterion is the same as other loans, but yes few new points add considering the financial and personal conditions of the applicants. But the conditions are easy to qualify.

How to Apply?

The application process is simple and takes only a few minutes. Also, you can apply through mobile, laptop, desktop. Our application process is friendly to all devices. The approval rate is 99%, most of the applicants can expect approval.

ExtramileFinance is certain in its aim which is programmed to serve the borrowers and help them achieve financial well-being. We are available 24x7, 365 days including festive and national holidays. Connect with us as we are ready to help you day and night.

FAQs

Q How can a single mom get a loan?

A single mom can get a loan through her satisfactory repaying capacity because a stable income has no gender bias. Anyone with a regular income can borrow money.

Q How much do single mums get on benefits?

The amount depends on the type of benefit you are applying for, but yes, Pound 1000 to Pound 15 or 20,000 can be offered. But individual circumstances are always necessary.

Q Can a single parent apply for payday loans?

Yes, single parents can undoubtedly apply for payday loans because these loans are offered based on payday. Just show the salary slip and borrow money without any stress.

Q I am a single parent and presently unemployed. Can I apply for private lender loans?

Yes, despite unemployment, you can apply for a private lender for loans. But your current income status should be good, and you should be able to pay instalments.

Q Are there any special provisions for single parent loans?

Yes, the provisions depend on the rules of affordability. These are -

  • ok icon white1The applicant should have a source of regular income,
  • ok icon white1In case of poor credit, the missed payments should not be consistent.
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