An all-new comparison site aiming to meet the needs of the 1.8m people who search for bad credit related terms every month has launched in the UK.
With lenders offering as little as 12.9% APR, the site uses cutting-edge technology to match customers with lenders quickly.
The all-new site works by evaluating the details submitted by the user and matching them with the lowest APR lender on their panel willing to accept them.
Unlike some other comparison websites owned by product providers who often push their products first, BadCredit.co.uk is entirely independent and unbiased.
Using the BadCredit.co.uk matching service could not only save the applicant time and money but could also protect their credit score from further harm, being that only a soft search is performed when retrieving a quote.
BadCredit.co.uk provides access to more than 70 providers to offer a price comparison service for people searching for loans, credit cards or car finance whose low credit score hinders them from using a mainstream lender.
Paul Gillooly, Company Director at BadCredit.co.uk said: “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.”
BadCredit.co.uk-approved lenders carry out a soft search on a user’s credit history as well as using the information the user provides to pinpoint the lowest cost lender on the network who is likely to approve an application.
The user gets a no-obligation quote from their matching lender, and if they choose to proceed, a hard search is performed 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, visit www.badcredit.co.uk.