Bad Credit Loans

  • Compare companies that offer loan products designed specifically for borrowers with bad credit ratings
  • Check loan details and eligibility requirements carefully before you apply
Promotion
Citrus Loans
  • Borrow from £1,500 - £25,000 over 1-5 years
  • Representative 18.9% APR
  • You may have your loan decision in minutes
  • We will submit your application to our lending panel and present you with your options
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    • Norton Finance - For homeowners only logo
      Broker

      Norton Finance - For homeowners only

      • Only available to homeowners
      • Loan Type
        Unsecured
      • Representative APR
        16.9% APR
      • Available Amounts
        £3,000 to £250,000
      • Min / Max Terms
        1 to 25 years

      Eligibility Criteria

      • Must be aged 18 to 80
      • Must be a homeowner
      • Must have a minimum income of £7,500 per year from employment, pension or benefits
    • Citrus Loans logo
      Broker

      Citrus Loans

      • Loan Type
        Unsecured
      • Representative APR
        18.9% APR (£10,000 - £12,999.99)
      • Available Amounts
        £1,500 to £25,000
      • Min / Max Terms
        1 to 5 years

      Eligibility Criteria

      • Must be aged 18 to 65 years
      • Must be a UK resident
      • Must be full time employed
      • Must be earning over £1200
    • 1st Stop Personal Loans - For homeowners only logo

      1st Stop Personal Loans - For homeowners only

      • Only available to homeowners
      • Loan Type
        Unsecured
      • Representative APR
        24.9% APR
      • Available Amounts
        £2,000 to £15,000
      • Min / Max Terms
        2 to 6 years

      Eligibility Criteria

      • Minimum income £15,000
      • Available to Homeowners only
      • Must be over 21 years of age
      • In employment for minimum of 6 months
      • Registered on the voters roll
    • Opal Loans and Mortgages logo
      Broker

      Opal Loans and Mortgages

      • Loan Type
        Unsecured
      • Representative APR
        35.7% APR
      • Available Amounts
        £1,000 to £25,000
      • Min / Max Terms
        1 to 5 years

      Eligibility Criteria

      • Must be 18 and 65 years old
      • Must be a UK resident
      • Must be employed
      • Must earn at least £800 per month
    • UK Credit Guarantor Loans logo

      UK Credit Guarantor Loans

      • Guarantor
      • Loan Type
        Guarantor
      • Representative APR
        39.9% APR
      • Available Amounts
        £1,000 to £10,000
      • Min / Max Terms
        1 to 5 years

      Guarantor Criteria

      • Must be aged 21 to 70 at the start of the loan term
      • Must be a UK resident (if in Scotland, both applicant and guarantor must reside in Scotland)
      • Must have a good credit history
      • Tenants and homeowners accepted (tenant loan - £6,000 maximum)

      Borrower Criteria

      • Must be aged 18 to 70
      • Must be a UK resident
      • Must not be recently bankrupt, in an IVA or a Debt Management Plan
    • TrustTwo logo

      TrustTwo

      • Guarantor
      • Guarantor must be a homeowner
      • Loan Type
        Guarantor
      • Representative APR
        49.5% APR
      • Available Amounts
        £500 to £10,000
      • Min / Max Terms
        1 to 5 years

      Guarantor Criteria

      • Homeowners only
      • Must be aged 25 - 74
      • Must have a good credit history

      Borrower Criteria

      • Must be over 18
      • Must not be declared bankrupt or in IVA or debt management plan
    • Aspire Money logo
      Broker

      Aspire Money

      • Loan Type
        Unsecured
      • Representative APR
        49.9% APR (£500 to £10,999)
      • Available Amounts
        £500 to £25,000
      • Min / Max Terms
        1 to 10 years

      Eligibility Criteria

      • Over 18s only
      • UK residents only
      • Must be full time employed
      • Must be earning over £1200
    • Click Finance logo
      Broker

      Click Finance

      • Loan Type
        Unsecured
      • Representative APR
        49.9% APR
      • Available Amounts
        £1,000 to £35,000
      • Min / Max Terms
        1 to 5 years

      Eligibility Criteria

      • Must be aged 18 to 70
      • Must be a UK resident
      • Must have a minimum monthly income of £800
      • Must not be subject to an IVA or bankruptcy order
    • Amigo Guarantor Loans logo

      Amigo Guarantor Loans

      • Guarantor
      • Loan Type
        Guarantor
      • Representative APR
        49.9% APR (variable)
      • Available Amounts
        £500 to £10,000
      • Min / Max Terms
        1 to 5 years

      Guarantor Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must have a good credit history
      • Tenants and homeowners accepted

      Borrower Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must not be on an active bankruptcy, IVA or equivalent
    • Buddy Loans logo

      Buddy Loans

      • Guarantor
      • Loan Type
        Guarantor
      • Representative APR
        49.9% APR
      • Available Amounts
        £1,000 to £7,500
      • Min / Max Terms
        1 to 5 years

      Guarantor Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must not be on an active bankruptcy, IVA or equivalent
      • Guarantor does not need to own a home

      Borrower Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must have a good credit history
    • Juo Loans logo

      Juo Loans

      • Guarantor
      • Loan Type
        Guarantor
      • Representative APR
        49.9% APR
      • Available Amounts
        £1,000 to £3,000
      • Min / Max Terms
        1 to 3 years

      Guarantor Criteria

      • Aged between 25 and 65
      • Must live at a UK address and is not a resident of the Channel Islands
      • Must be full time or part time employed
      • Must be paid monthly or 4 weekly basis
      • Must have a UK bank account
      • Guarantor must be the borrowers close friend or relative
      • Guarantor cannot be the spouse or partner of the borrower

      Borrower Criteria

      • Aged between 18 and 65
      • Must live at a UK address and is not a resident of the Channel Islands
      • Must be full time or part time employed
      • Must be paid monthly or 4 weekly basis
    • SafetyNet Credit Facility logo

      SafetyNet Credit Facility

      • Credit Line
      • Loan Type
        Short Term
      • Representative APR
        68.7% APR
      • Available Amounts
        £100 to £500
      • Min / Max Terms
        No min or max term

      Eligibility Criteria

      • Must be aged 18 or over
      • UK residents only
      • Must be in full-time or part-time employment or self-employed
      • Minimum monthly income of £750
      • Must have debit card and bank account into which salary is paid
      • Must have a mobile phone and email address
      • Bankruptcy, IVA or equivalents not accepted
      • CCJs accepted
      • Customers must submit bank account login details to apply for a loan
    • Selfy Loans (Self-Employed Loans) logo

      Selfy Loans (Self-Employed Loans)

      • Loan Type
        Unsecured
      • Representative APR
        77.7% APR
      • Available Amounts
        £1,000 to £15,000
      • Min / Max Terms
        2 to 5 years

      Eligibility Criteria

      • Must be aged 23 to 75 years (sub-contractors minimum age 21 years)
      • Must have been self-employed for 2+ years
      • Must earn a minimum gross income of £15,000 per annum (Single or Joint); £10,000 for sub-contractors
      • No bankruptcy, Debt Management Arrangement or IVA
      • Must be able to prove 3 years address history via VR or documentation proving address.
    • Everyday Loans logo

      Everyday Loans

      • Loan Type
        Unsecured
      • Representative APR
        93.6% APR
      • Available Amounts
        £1,000 to £15,000
      • Min / Max Terms
        2 to 5 years

      Eligibility Criteria

      • Must be aged 18 years and older
      • Must have the full right to live and work in the UK and will be a UK resident for the full length of the loan
      • Must be able to afford the repayments and demonstrate a regular income
      • Homeowners, tenants and living with parent(s) customers are accepted
    • 118 118 Money  logo

      118 118 Money

      • Loan Type
        Unsecured
      • Representative APR
        99.9% APR
      • Available Amounts
        £1,000 to £5,000
      • Min / Max Terms
        1 to 2 years

      Eligibility Criteria

      • Must be aged 18 - 70
      • Must be a UK resident
      • Must have a net monthly income of £700+
      • Must hold a current UK bank account and debit card
      • Must have a mobile phone and email address
Also for Bad Credit Loans...
Our service is free of charge but we receive commissions from the providers we refer you to. This table is initially ordered by representative APR. You can use the options above the table to order it according to various criteria. You may be offered different rates depending on your personal credit rating.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

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Bad Credit Loans FAQs

Just because you have a bad credit rating doesn't mean you'll never need to get a loan.

As the name may suggest, a bad credit loan is a loan designed specifically for those with a poor credit history. There are many reasons why a person might suffer from a poor credit rating - from an inability to manage repayments on credit cards or loan agreements, to having County Court Judgements (CCJs) held against them.

Even if you've never had a credit card or loan in your name before, you could have poor credit simply because lenders are unable to access evidence that suggests you're able to manage your borrowing habits successfully.

Below are some of the most frequently asked basic questions about bad credit loans. Just click on the question headings to see the answer.

What kinds of bad credit loans are available?

The term "bad credit loan" is often used to refer to various loan products specifically available to borrowers with poor credit ratings, who may struggle to access other forms of credit.

These products may include secured loans, short-term loans, guarantor loans, and various other options designed to give lenders more security when offering money to borrowers.

Where can I get a bad credit loan?

Although bad credit loans are sometimes available from mainstream lenders, they are more commonly provided by specialists. You may need to look specifically for lenders who advertise their ability to work with borrowers with poor credit.

What are the pros and cons of bad credit loans?

All loans come with certain pros and cons. In the case of bad credit loans, the biggest advantage is that you have an opportunity to borrow money that you might not be able to access elsewhere because of a poor credit history.

This can offer a real financial lifeline to those who need to get capital quickly. What's more, having a loan can sometimes help people who have poor credit ratings to repair their credit status, as long as they make repayments on time.

The largest drawback of bad credit loans is that they usually have very high interest rates in comparison with standard loans. This is because applicants with poor credit represent a higher risk to lenders.

Are there risks in getting a bad credit loan?

All loans come with certain risks, which is why you should always make sure that you can afford repayments before you agree to any loan terms. If you don't make repayments as agreed, you could end up heavily in debt.

If I don't get accepted for a bad credit loan, should I just keep trying?

No, if you don't get accepted for a loan, don't simply keep applying in the hope that the lender will change their mind. Applications for credit - regardless of whether they are successful or not - will show up on your credit file, and could make lenders think you're desperate for cash - something that might damage your credit rating even further.

Are there any ways I can improve my credit rating?

When it comes to getting a good deal on a loan - regardless of what you might need the money for - you'll always be able to access better deals when you have a good credit rating. In some cases, this may mean that it's better to build up your credit score, before you apply for a big loan. You can do this by:

  • Paying off credit card and loan repayments on time - accruing no further debt or interest.
  • Consolidating your debts into a more manageable monthly repayment.
  • Speaking to a debt or credit advisor.

If you've never taken out a credit card or loan before, and that's the reason for your bad credit, the easiest way to improve your score is to use a credit card regularly, and pay off each purchase on time.

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