Can I Get a Loan with Bad Credit?
Yes, you can still get access to a bad credit loan, even if you have a poor credit history and have been rejected elsewhere.
Whilst most UK lenders are looking for good credit ratings, there are a number of lenders who cater specifically for the market of bad credit – offering guarantor, logbook, secured and unsecured loans.
At Lending Expert, we work with a large panel of lenders who can offer loans for people with bad credit. Customers can apply to borrow £500 to £20,000 repaid over 6 years – with all credit histories considered including CCJs, IVAs and more. Also see CCJ loans for more options.
You can use our comparison table provided to find the right product and rates for you – and simply click on ‘Check My Eligibility’ to get started.
Key Features
- Borrow £500 to £20,000
- Repay over 1 to 6 years
- All credit histories considered
- CCJs, IVAs and bankruptcy considered
- Online application
- Instant decision available
- Same day funding (or same week)
- No guarantor options available
Why Use Lending Expert for Bad Credit Loans?
Lending Expert is one of the UK’s largest aggregators of unsecured and secured lenders and we can help find the best bad credit loan for you.
We understand the difficulty in finding affordable finance if you need a loan with a bad credit rating. The challenge of filling in lots of applications and being denied can be tough – and you might feel that there are no options available.
However, this is not the case. We are proud to be working with a number of direct lenders who will be happy to review and process your loan application.
Our comparison service is completely free to use and will not impact your credit score.You can compare loan amounts, rates, repayment examples and different levels of security – and find the best option for you.
What is the Eligibility Criteria?
- Over 18 years of age
- UK resident
- Employed and can afford monthly repayments
- Valid UK bank account, mobile and email address
- Guarantor required (for guarantor loans)
- Security required such as car or home (for secured loans)
How Much Can I Borrow?
Our bad credit lenders offer loans ranging from £500 to £20,000 based on your income and eligibility.
Typically, loans for poor credit will involve a guarantor or using something valuable that you own as security, such as your home or vehicle.
So if you have a guarantor with a strong credit rating or you have an asset like your home which is worth a lot, this will maximise the amount you can borrow.
You will also need to be employed and earning a regular income as proof that you can keep up with monthly repayments.
How Soon Can I Receive Funds?
With unsecured, personal loan and guarantor products, funding is often completed in 24 to 48 hours – providing that all the checks have been completed.
With secured loans, this can take a few days or weeks, since items or assets may need to be valued and verified before the loan can be completed and funded.
Do You Offer Bad Credit Loans from Direct Lenders?
Yes, we work with bad credit loans direct lenders, so that you can apply directly with the provider of your choice from start to finish.
We act as a matching and price comparison service, giving you a full overview of the products and rates available.
We do not charge any fees for using our service and you can have peace of mind that your application will be processed by a direct lender every step of the way – including the application, underwriting, funding and repayment process.
There are no other middlemen involved and we will not share your details without your permission.
Can I Get a Bad Credit Loan with No Guarantor?
Yes, you can get a bad credit loan without a guarantor. Whilst adding a guarantor to your loan is popular for most customers, there are alternatives available.
We offer a range of personal and unsecured options or you can use a bad credit secured loan, whereby you take something valuable that you own as security, such as a car, bike, van or property and leverage its value in order to borrow money. However, your asset is at risk of repossession if you do not keep up with your repayment.
How to Apply for a Bad Credit Loan with Lending Expert?
To apply for a bad credit loan online, simply compare rates and terms using our comparison table provided.
Perhaps you are looking specifically for a guarantor loan or maybe you are looking to leverage some valuable security that you own.
Once you have selected your chosen lender, you can click on ‘check eligibility’ where you will be taken directly to the lender’s website where you can apply.
You should be able to receive an initial quote or decision upon completing the application and subject to further checks, you may be able to receive funds into your bank account within a matter of days.
