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No Credit Check Loans*
Unsecured Loans of £100 to £15,000
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So called "no-credit-check loans" are unsecured loans that are suitable for UK residents who have financial problems. It is actually credit scoring, based on an applicant's financial history, that can undermine the lending decision. And that is what these loans allow you to avoid. |
All lenders will do a credit check because they need to confirm your identity and ensure you are not bankrupt or on an IVA. But they won't base their lending decision on a score calculated from your credit history.
The way in which a lender can worry less about your score and your financial history is by you providing someone to a guarantee your loan - someone who could step in, if required, to make one or more repayments on your behalf. This way the risk to the lender is reduced and they will be more inclined to make a loan. All lenders are obliged to ensure that what you borrow is affordable so you should expect to have to provide income and expenditure information to potential lenders.
Borrow £100 to £15,000
Loans with no credit are either short term loans of £500 and under or up to £15,000 for a maximum term of 60 months. For loans over £7500 your guarantor must be a homeowner.
Credit score less important
Loans with no credit check actually mean no credit score. No scoring is required because you provide a guarantor to help offset the lender's risk.
No fees or charges
We don't charge for our enquiry service - no fee to take your enquiry; no charges if you take out a loan!
Designed for poor credit
A bad financial history will very often kill a loan application. But "no credit check" loans can bypass this problem as your guarantor reduces the risk to the lender.
Multiple loan options
We have a wide panel of lenders. One enquiry through us typically produces 3-4 loan offers from them. And the deals you'll get are the same as going direct!
Instant enquiry decisions
Our technology means that within 60 seconds of sending us your enquiry we'll tell you which lenders will lend to you in principle.
Family member or friend required to guarantee your loan
Providing a guarantor for your loan means that lenders won't score you. Your guarantor does not need to own their home unless you want to apply for more than £7500.
Consider a "no credit check loan" because:
You:
- have a very bad credit rating or no financial history (making borrowing difficult)
- think you've been "financially checked" enough
- want to start improving your financial status by successfully repaying your loan (better rates in future)
The way to borrow with less emphasis on a credit check and your score is for you to get someone to act as your guarantor - someone (e.g. parent, relation, close friend) who knows you better than any credit check or score ever can.
We now have access to "loans with no credit check" from multiple sources through a single enquiry form - and you'll get an immediate in-principle decisions. You can then continue using a lender's e-signature service. It has become possible to get a loan with a credit check within 24 hours.
Loan Summary
- Borrow £100 to £15,000 unsecured. If you want over £15,000 and you don't mind being credit checked click here)
- No credit check - unless you are bankrupt or on an IVA your financial record won't impact on the decision to lend - scoring won't be done.
- You provide someone to guarantee your loan - they don't need to own their home
- Loan periods:
- £500 - £15,000: 12 to 60 months
- £100 - £750: for a few months more info
- You can be a tenant or a homeowner
- Instant lending decision - you will get an in-principle decision online in 60 seconds!
- No Fees and Charges - our full service is free
- Funds available within next 24 hours
- Representative APR 39.9% (sums of £500 to £15,000).
Credit Checks vs Scoring
The lenders will check your credit file to verify your identity and to ensure you are not bankrupt or involved in an IVA. This search will be registered on your financial record he;d by the three main UK agencies. However, guarantor loan lenders won't typically use the other information in your file to score you, or if they do score you this will not necessarily impact you since you provide a guarantor. Borrowing is always subject to affordability checks.
How to Apply for Loans With No Credit Check
If you can get an acceptable guarantor then, subject to affordability, you stand a good chance of being able to get a loan.
The guarantor confirms that they will make monthly repayments for you should you fail to do so (electricity and gas companies have used the guarantor method for decades). But you must ensure that the guarantor knows you well and that they fully understand their obligations.
If you don't think you would be able to find a guarantor now then consider this - over 10% of actual borrowers also initially thought they couldn't find a guarantor!!
You don't have to find your guarantor before you apply. That can be sorted out later.
* the lenders will check your credit file to verify your identity and to ensure you are not bankrupt or involved in an IVA. This search will be registered on your credit file. However, many guarantor loan lenders will not use the other information in your credit file to credit score you, or if they do credit score you this will not necessarily impact you since you provide a guarantor. Borrowing is always subject to affordability checks.
Bad Credit & Scoring
Representative Example (£500 to £15,000)
Loan Amount
£3000
Monthly Repayment
£134.10
Loan Term
36 mnths
Total Repayment
£4827.60
Rate of Interest
34.05%
Representative APR
39.9%
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