What does it mean to apply for a loan without UC?

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Posted 10 months ago in More

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A common misconception is that it is not possible to borrow money without UC. Upplysningscentralen, UC, is Sweden’s leading credit information company. Here in Sweden, the law states that lenders must make a credit assessment of potential borrowers before the loan can be granted. Lending money without UC means, therefore, that the lender simply uses another credit information company than Upplysningscentralen when assessing the borrower’s credit score.

Advantages of loans without UC

In the past, it was impossible to get a private loan without the lender turning to UC to make the credit rating. At that time, you also had to physically visit your local bank office to fill in a loan application. Today, the situation looks different and on the Internet there are thousands of lenders who fight to lend money just to you.

When borrowing money without UC, you will not receive a remark in your credit register, and your credit score remains the same. The possibility of being granted a loan is not based on your previous UC account. In other words, if you have multiple credits at UC, your chances to get a loan will increase when applying from another type of credit information company. There are several different loan institutions that allow you to find an affordable loan that suits your needs.

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How to apply for a loan without UC

If you are over 18 years old, you have the opportunity to apply for a loan. However, keep in mind that some lenders require you to be older. In addition to your age, other factors also crucial, these include your income and employment status. It is always a good idea to read about the lender’s terms before applying for a loan, thus reducing the risk of being denied. You can read the loan terms on the lender’s website, here you can also see if they offer loans without UC.

To increase your chances of getting a loan, you can apply with a co-applicant. Although it is relatively easy and quick to apply for a loan without UC, you should always be aware that it implies a risk of borrowing money. Therefore, make sure to borrow responsibly from trusted lenders, have the opportunity to repay the loan amount plus interest and fees, and never borrow more than you need.

It is also a smart move to compare your loan opportunities online. Fair-laan is a comparison site that has a special section where you can find all the loans without UC on the Swedish market. The service is free of charge and available online. On the page you can compare loans in regards to interest rate, fees, and pros and cons with each lender.

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