- Loans up to £25,000
- Tenants & Homeowners
- Use for any purpose
- Poor & bad credit OK
- Free enquiry service
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!
If you have:
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:
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.
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.
When it comes to getting you your unsecured loan our online service is second to none. In fact Solution-Loans.co.uk has scored based on 325 ratings & 47 user reviews for its unsecured loans service.
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