Bad Credit Loans
- Loans: £100 to £75k+
- Tenants & Homeowners
- Unsecured & Secured
- Options inc. no guarantors
- Help improve your creditworthiness
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.
The following types of creditworthiness issues could be avoided if you choose the right type of borrowing:
Arrears, Defaults & CCJs
No accounts or No proof of income
No borrowing history (yet)
Discharged from Bankruptcy, completed IVA or other debt management plan
The main alternatives available to you include:
When you apply to borrow the provider will want to know two things:
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.
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.
If you are thinking of applying for finance even though you have an adverse rating you should consider:
Looking at the applications we get for this type of loan there are some obvious trends:
When it comes to getting you your bad credit loan our online service is second to none. In fact Solution-Loans.co.uk has scored based on 262 ratings & 41 user reviews for its poor credit loans service.
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