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Unsecured loans for poor credit

Unsecured loans of up to £25,000 for any purpose

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Unsecured Loans

  • Loans up to £25,000
  • Tenants & Homeowners
  • Use for any purpose
  • Poor & bad credit OK
  • Free enquiry service

Unsecured Loans for Poor Credit

A poor credit history is a very common problem in the UK. You'll know you are suffering from a poor credit rating either because you've had requests for credit rejected (by lenders, mobile phone or utility companies, etc) or because you've been actively checking your credit record at the UK's main credit reference agencies.

As the problem is so common, plenty of specialist lenders have sprung up to help people in your situation. Welcome to our lending panel!

Poor Credit Loans:

If you have:

  • A low credit score
  • Been In arrears
  • Defaulted on loans before
  • Been bankrupt
  • Been subject to a CCJ
  • A poor credit history

How to get an Unsecured Loan with Poor Credit

There have never been so many lenders who are prepared to consider applicants who have credit problems. We work with a growing number for whom this is their reason for being. Between them they are capable of lending:

  • Loan amounts from as little as £100 all the way up to £25,000
  • For the short term (e.g. months) through to the long term (5+ years)

But all of these lenders offer unsecured loans - i.e. they do not require you to provide any form of security - so you don't have to put any assets at risk to get you new credit.

However, if you own your home you may be able to obtain a secured loan that could get you a lower interest rate, allow you to borrow more, or both - subject to affordability, obviously.

The Cost of a Poor Credit Loan

As you are borrowing with bad credit history you will pay higher interest rates to compensate the lender for the higher risk involved. But if you repay your loan on time and in full you will be successfully rebuilding your credit status so that future credit can be provided on better terms.

Poor credit and bad credit is actually a spectrum, so some lenders will increase the interest rate if they think you represent a higher risk of default. Other lenders simply charge the same rate to all. And some unsecured lenders, who require a guarantor, may be able to offer a lower rate than other bad credit lenders.

You need to explore your options before committing, and the best place to start is to make your enquiry via our free broker service. We'll quickly tell you which lenders may be able to lend to you (and not bother you with those who won't). You'll save lots of time and effort, and it will cost you nothing.

About Unsecured Loans

Representative Example

Loan Amount

£9000

Monthly Repayment

£246.84

Loan Term

48 mnths

Total Repayment

£11,848.42

Representative APR

14.2%

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