Bad Credit Loans

  • Loans: £100 to £75k+
  • Tenants & Homeowners
  • Unsecured & Secured
  • Options inc. no guarantors
  • Help improve your creditworthiness
Bad credit loans

A Choice Of Bad Credit Loans

We Solve Borrowing Problems

High street banks and other UK lenders may not like your bad credit history. They’ve probably refused to lend to you and you may believe that your financial situation is impossible. But don’t panic – your credit rating need not be a problem.

Since 2005 we’ve specialised in helping people who have credit issues. As a no fee broker our range of “bad credit” loans is wide. They are designed to help when you don’t qualify for ordinary financial products.

Solutions to consider

Make a choice:

These compromises help to offset the extra borrowing risk.
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Credit Problems that could be “Ignored”

The following types of creditworthiness issues could be avoided if you choose the right type of borrowing:

  • Arrears, Defaults & CCJs
  • Part time employed & Self-employed
  • No accounts or No proof of income
  • No borrowing history (yet)
  • Discharged from Bankruptcy, completed IVA or other debt management plan

What Types of Bad Credit Loans can you get?

The main alternatives available to you include:

How to find an Affordable Loan

When you apply to borrow the provider will want to know two things:

  • how reliably you have repaid borrowings in the past – they’ll look at your credit file.
  • whether you can afford the repayments on any new loan made to you – they’ll look at your income and outgoings to assess its affordability.

Not being able to afford additional repayments is likely to be a deal breaker, while your credit history is more likely to simply affect the cost of your new loan and whether you’ll be required to provide security.

How much will a Bad Credit Loan cost?

Having a bad credit rating puts a lender on alert. They compensate for the extra perceived risk by charging a higher interest rate. You’ll also notice that if you are prepared to offer an asset as security or provide a guarantor that you might be able to reduce that interest rate somewhat. Effectively you are opting to take on some/all of the risk the lender had.

Things you should consider when borrowing

If you are thinking of applying for finance even though you have an adverse rating you should consider:

  • Interest rates: typically you’ll pay a higher interest rate if you have a poor credit score
  • Unsecured vs secured: to get a better interest rate you could provide security, but are you really prepared to lose your asset if you default on your debt repayments?
  • Guarantees: getting someone to support your application should help you get a better rate
  • Your credit score: if you do borrow more and make repayments on time and in full then you can improve your bad credit rating. If you fail to then you will make it worse.
  • Borrowing term: as with any form of debt the longer you borrow for the higher the total interest on that debt will be. This is made even more noticeable by the higher interest rate you will be paying.
  • Loan amount: only borrow what you really need.

About People Applying for these loans

Looking at the applications we get for this type of loan there are some obvious trends:

  • Debt consolidation is the most common purpose – to make monthly repayments on existing debt more manageable.
  • Perhaps because applicants have been rejected over an over again they quite reasonably want quick lending decisions. And a fast payout is also considered very beneficial.
  • People on lower incomes tend to have a poorer credit rating – with a higher proportion of income required for meeting life’s basic expenses and with greater job and income insecurity this is unfortunately the case.
  • It may not surprise you but younger people tend to have a worse credit score perhaps linked to lower incomes and their spending habits.

How to Improve Your Credit Score


Our Money & Credit Guides

If you’re uncertain which type of credit might suit you or you have a money problem then one of our guides may help you. We summarise each type of loan and their pros and cons and address issues regarding debt and credit ratings.


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For over a decade Solution Loans has helped people all over the UK find solutions to their personal finance problems.



Our reputation is great. In fact we have scored 4.7 out of 5 based on 262 ratings & 41 user reviews for our bad credit loans service.


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Written/Reviewed by: Amanda Gillam