Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Typical APR 26.8% variable.

Central Trust Ltd Fixed Rate Secured Loan
Loan Type
Secured
(Maximum LTV 60%)
Loan Amount
£10,000 to £70,000
Interest Rate
11% p.a
Loan Term
3 years to 25 years
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd Micro Secured Loan
Loan Type
Secured
(Maximum LTV 60%)
Loan Amount
£3,000 to £9,999
Interest Rate
11.4% p.a
Loan Term
3 years to 25 years
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd Fixed Rate Secured Loan
Loan Type
Secured
(Maximum LTV 70%)
Loan Amount
£10,000 to £50,000
Interest Rate
12% p.a
Loan Term
3 years to 25 years
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd Micro Secured Loan
Loan Type
Secured
(Maximum LTV 70%)
Loan Amount
£3,000 to £9,999
Interest Rate
12.4% p.a
Loan Term
3 years to 25 years
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance Near Prime Secured Loan
Loan Type
Secured
(Maximum LTV 70%)
Loan Amount
£10,000 to £100,000
Interest Rate
12.5% p.a
Loan Term
3 years to 25 years
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd Fixed Rate Secured Loan
Loan Type
Secured
(Maximum LTV 70%)
Loan Amount
£50,001 to £70,000
Interest Rate
12.99% p.a
Loan Term
3 years to 25 years
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance Large Medium Adverse Secured Loan
Loan Type
Secured
(Maximum LTV 55%)
Loan Amount
£50,001 to £500,000
Interest Rate
13.76% p.a
Loan Term
3 years to 30 years
You must be a homeowner to apply as this loan will be secured against your home.
Norton Finance Fast Track Secured Loan
Loan Type
Secured
(Maximum LTV 55%)
Loan Amount
£10,000 to £30,000
Interest Rate
13.88% p.a
Loan Term
1 year to 20 years
You must be a homeowner to apply as this loan will be secured against your home.
Norton Finance Fast Track Secured Loan
Loan Type
Secured
(Maximum LTV 55%)
Loan Amount
£3,000 to £9,999
Interest Rate
14.89% p.a
Loan Term
1 year to 20 years
You must be a homeowner to apply as this loan will be secured against your home.
Norton Finance Standard Secured Loan
Loan Type
Secured
(Maximum LTV 65%)
Loan Amount
£10,000 to £30,000
Interest Rate
14.89% p.a
Loan Term
1 year to 20 years
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance Large Heavy Adverse Secured Loan
Loan Type
Secured
(Maximum LTV 50%)
Loan Amount
£25,001 to £500,000
Interest Rate
14.96% p.a
Loan Term
3 years to 30 years
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance Heavy Adverse Secured Loan
Loan Type
Secured
(Maximum LTV 60%)
Loan Amount
£3,000 to £30,000
Interest Rate
14.99% p.a
Loan Term
3 years to 30 years
You must be a homeowner to apply as this loan will be secured against your home.
Spring Finance Heavy Adverse Secured Loan
Loan Type
Secured
(Maximum LTV 65%)
Loan Amount
£5,000 to £100,000
Interest Rate
15% p.a
Loan Term
5 years to 25 years
You must be a homeowner to apply as this loan will be secured against your home.
Norton Finance Standard Secured Loan
Loan Type
Secured
(Maximum LTV 65%)
Loan Amount
£3,000 to £9,999
Interest Rate
15.89% p.a
Loan Term
1 year to 20 years
You must be a homeowner to apply as this loan will be secured against your home.
Moneyway Personal Loan
Loan Type
Unsecured
Loan Amount
£1,000 to £15,000
Interest Rate
18.9% APR Representative
Loan Term
1 year to 5 years
Representative Example: The Representative APR is 24.9% APR so if you borrow £5,000 over 4 years at a rate of 22.46% p.a. (fixed) you will repay £158.73 per month & £7,619.04 in total.
Equifinance Adverse Secured Loan
Loan Type
Secured
(Maximum LTV 70%)
Loan Amount
£5,000 to £30,000
Interest Rate
19.2% p.a
Loan Term
5 years to 20 years
You must be a homeowner to apply as this loan will be secured against your home.
Equifinance Adverse Secured Loan
Loan Type
Secured
(Maximum LTV 75%)
Loan Amount
£5,000 to £15,000
Interest Rate
19.2% p.a
Loan Term
5 years to 20 years
You must be a homeowner to apply as this loan will be secured against your home.
Equifinance Adverse Secured Loan
Loan Type
Secured
(Maximum LTV 65%)
Loan Amount
£5,000 to £10,000
Interest Rate
21.6% p.a
Loan Term
5 years to 20 years
You must be a homeowner to apply as this loan will be secured against your home.
Citrus Loans Personal Loan
Loan Type
Unsecured
Loan Amount
£500 to £20,000
Interest Rate
22.5% APR Representative
Loan Term
1 year to 3 years
Representative Example:The Representative APR is 22.5% APR so if you borrow £3,000 over 2 years at a rate of 20.5% (fixed) then you will repay £153.38 per month & £3,681.05 in total.
Car Finance 24/7 Poor Credit
Loan Type
Car Loan
Loan Amount
£1,000 to £35,000
Interest Rate
22.9% APR Representative
Loan Term
1 year to 5 years
Buy your vehicle from any dealer in the UK.
Loan available for car, van & motorbike finance only.
Representative Example: The Representative APR is 22.9% APR (fixed) so if you borrow £2,000 over 2 years at a rate of 22.9% p.a. (fixed) you will repay £102.57 per month & £2,461.68 in total. Arrangement fee £149.
Evolution Money Near Prime Secured Loan
Loan Type
Secured
(Maximum LTV 110%)
Loan Amount
£5,000 to £10,000
Interest Rate
23.1% p.a
Loan Term
3 years to 10 years
You must be a homeowner to apply as this loan will be secured against your home.
1st Stop Personal Loans for Homeowners Plus
Loan Type
Unsecured
Loan Amount
£1,000 to £10,000
Interest Rate
24.9% APR Representative
Loan Term
1 year to 6 years
This is an unsecured loan, but you must be a homeowner to apply as it is designed for homeowners who would prefer not to secure a loan against their property.
Representative Example: The Representative APR is 24.9% APR so if you borrow £4,000 over 3 years at a rate of 12% (variable) you will repay £154.45 per month and £5560.20 in total. The total charge for credit is £1560.20 which includes a processing fee of £120.
Opal Loans Personal Loan
Loan Type
Unsecured
Loan Amount
£2,000 to £10,000
Interest Rate
24.9% APR Representative
Loan Term
2 years to 5 years
Opal Loans offers a loan broking service. Please only apply if you are a home owner, aged 25 to 72, earning £15,000 per annum, and making regular payments to your mortgage.
Representative Example: The Representative APR is 24.9% APR (variable). Borrow £5,000 and pay £198.53 a month for 36 months. The Total Interest Payable is £2,147.08. The Total Amount Payable is £7,147.08.
Midland Credit Car Loan (Poor)
Loan Type
Car Loan
Loan Amount
£3,000 to £50,000
Interest Rate
27.9% APR Representative
Loan Term
2 years to 5 years
You can buy any car from any dealer with either a good or bad credit history and there are no admin fees.
Loan available for car finance only.
Representative Example: The representative APR is 27.99% APR (fixed) so if you borrow £10,000 over 4 years at a rate of 27.99% p.a. (fixed) you will repay £324.96 per month & £15,598.00 in total.
Evolution Money Near Prime Secured Loan
Loan Type
Secured
(Maximum LTV 120%)
Loan Amount
£5,000 to £10,000
Interest Rate
30.6% p.a
Loan Term
3 years to 10 years
You must be a homeowner to apply as this loan will be secured against your home.
Glenside Finance Poor Credit
Loan Type
Car Loan
Loan Amount
£2,000 to £75,000
Interest Rate
32.4% APR Representative
Loan Term
1 year to 4 years
Representative Example: The representative APR is 32.4% APR (fixed) so if you borrow £5000 over 4 years at a rate of 32.4% p.a. (fixed) you will repay £170.83 per month & £8397.84 in total. Typical Arrangement fee £99 & Option to Purchase Fee £99.
MSG Cars Car Finance
Loan Type
Car Loan
Loan Amount
£5,000 to £25,000
Interest Rate
33.4% APR Representative
Loan Term
2 years to 4 years
Loan available for car finance only.
Representative Example: The representative APR is 33.4% APR (fixed) so if you borrow £10,000 over 4 years at a rate of 33.4% p.a. (fixed) you will repay £378.91 per month & £18,187.56 in total.
Evolution Money Near Prime Secured Loan
Loan Type
Secured
(Maximum LTV 150%)
Loan Amount
£3,000 to £6,000
Interest Rate
34.5% p.a
Loan Term
3 years to 5 years
You must be a homeowner to apply as this loan will be secured against your home.
1st Stop Personal Loans for Homeowners
Loan Type
Unsecured
Loan Amount
£1,000 to £10,000
Interest Rate
39.9% APR Representative
Loan Term
1 year to 6 years
This is an unsecured loan, but you must be a homeowner to apply as it is designed for homeowners who would prefer not to secure a loan against their property.
Representative Example: The Representative APR is 39.9% APR so if you borrow £4,000 over 3 years at a rate of 12% (variable) you will repay £179.65 per month and £6467.40 in total. The total charge for credit is £2467.40 which includes a processing fee of £120.
Whatcredit Car Finance (Poor Credit)
Loan Type
Car Loan
Loan Amount
£2,000 to £35,000
Interest Rate
39.98% APR Representative
Loan Term
1 year to 5 years
Whatcredit provide the finance, you buy your car from any UK dealer. Instant online decision. Guaranteed to low rate finance available.
Under 21? You might need a guarantor to get this loan.
Representative Example: The Representative APR is 39.98% APR (fixed) so if you borrow £5,000 over 4 years at a rate of 12% p.a. (fixed) you will repay £185.94 per month & £9,100.12 in total.
Evolution Money Unlimited LTV Secured Loan
Loan Type
Secured
(Maximum LTV 500%)
Loan Amount
£2,000 to £5,500
Interest Rate
42.6% p.a
Loan Term
1.5 years to 5 years
You must be a homeowner to apply as this loan will be secured against your home.
Likely Guarantor Loans Unsecured Guarantor Loan
Loan Type
Unsecured
Loan Amount
£1,000 to £5,000
Interest Rate
45.0% APR Representative
Loan Term
1 year to 5 years
Your guarantor does not even have to be a homeowner, tenants and other non-homeowners also considered.
Representative Example: The representative APR is 45.0% APR (variable) so if you borrow £5,000 over 2 years at a rate of 37.77% p.a. (variable) you will repay £299.96 per month & £7,198.98 in total.
UK Credit Ltd Guarantor Loan
Loan Type
Unsecured
Loan Amount
£1,000 to £7,500
Interest Rate
45.3% APR Representative
Loan Term
1 year to 5 years
UK Credit is a specialist no fee guarantor loan provider. Lending from £1000 - £7500.00 if you have a guarantor who is a homeowner to support your application. We can also lend to you if your guarantor is a tenant (see link below)
Your guarantor must be a homeowner.
Representative Example: The Representative APR is 45.3% APR (fixed) so if you borrow £3000 over 3 years at a rate of 37.96% p.a (fixed) you will pay £143.98 per month & £5183.28 in total.
Consollo Guarantor Loan
Loan Type
Unsecured
Loan Amount
£1,000 to £7,500
Interest Rate
47.50% APR Representative
Loan Term
1 year to 5 years
Representative Example: The representative APR is 47.50% APR so if you borrow £3,000 over 2 years at a rate of 39.50% p.a. (fixed) you will repay £182.57 per month & £4,386.00 in total.
LendFair Ltd Guarantor Loan
Loan Type
Unsecured
Loan Amount
£500 to £5,000
Interest Rate
48.0% APR Representative
Loan Term
6 months to 5 years
Representative Example: The representative APR is 48.0% APR (fixed) so if you borrow £2,500 over 3 years at a rate of 48.0% p.a. (fixed) you will repay £120.04 per month & £4,321.44 in total.
Springcoin Personal Loan
Loan Type
Unsecured
Loan Amount
£500 to £20,000
Interest Rate
48.5% APR Representative
Loan Term
1 year to 4 years
Fast funding within the same day of submitting the online application with rates starting at 19%. No arrangement or early payment fees & not required to have a guarantor or own a home.
Representative Example: The Representative APR is 48.5% APR (fixed) so if you borrow £3,000 over 1 year at a rate of 48.5% p.a. (fixed) you will repay £670.83 per month & £3670.83 in total.
Amigo Loans Ltd Guarantor Loan
Loan Type
Unsecured
Loan Amount
£500 to £5,000
Interest Rate
49.9% APR Representative
Loan Term
1 year to 5 years
Borrow between £500 - £5,000 in 24 hrs & no fees or credit scores. Over 160,000 customers approved, with a new customer approved every 10 mins.
Homeowner and tenant guarantors are accepted
Representative Example: The Representative APR is 49.9% APR (variable) so if you borrow £5,000 over 5 years at a rate of 49.9% APR p.a. (variable) you will repay £197.62 per month & £11,857.20 in total.
UK Trust Loans Guarantor Loan
Loan Type
Unsecured
Loan Amount
£1,500 to £5,000
Interest Rate
49.9% APR Representative
Loan Term
1 year to 5 years
Your guarantor must be a homeowner.
Representative Example: The Representative APR is 49.9% APR (variable) so if you borrow £1,500 over 1 year at a rate of 41.16% p.a. (fixed) you will repay £154.60 per month & £1,855.20 in total.
Evolution Money Unlimited LTV Secured Loan
Loan Type
Secured
(Maximum LTV 500%)
Loan Amount
£1,000 to £3,000
Interest Rate
51.1% p.a
Loan Term
1 year to 3 years
You must be a homeowner to apply as this loan will be secured against your home.
UK Credit Ltd Tenant Guarantor Loan
Loan Type
Unsecured
Loan Amount
£1,000 to £3,000
Interest Rate
54.9% APR Representative
Loan Term
1 year to 3 years
UK credit is a specialist no fee guarantor loan provider, we can lend to you even if your guarantor is not a home owner. If you have a guarantor who is tenant we can help you borrow from £1000 - £3000.
Representative Example: The Representative APR is 54.9% APR (fixed) so if you borrow £2,000 over 2 years at a rate of 36.7% p.a (fixed) you will repay £101.65 per month & £3,659.40 in total.
Aspire Money Personal Loan
Loan Type
Unsecured
Loan Amount
£500 to £7,500
Interest Rate
58.5% APR Representative
Loan Term
1 year to 7 years
Aspire Money offer a loan brokering service with no upfront fees and have loans available that don’t require a guarantor. Please only apply if you are aged 18 to 65, employed or self employed with a income of more than £800 a month.
Representative Example: The Representative APR is 58.5% APR. Borrow £5,000 and pay £297.34 a month for 36 months. The interest payable is £5,704.24. The total repayable is £10,704.24.
Everydayloans Personal Loan
Loan Type
Unsecured
Loan Amount
£1,000 to £12,500
Interest Rate
74.4% APR Representative
Loan Term
13 months to 5 years
Representative Example: The Representative APR is 79.7% (variable) so if you borrow £3,000 over 3 years at a rate of 60.0% p.a. (variable) you will repay £181.30 per month & £6,526.80 in total.
On Stride Financial Personal Loan
Loan Type
Unsecured
Loan Amount
£1,000 to £5,000
Interest Rate
89.0% APR Representative
Loan Term
1 year to 3 years
Representative Example: Representative APR is 89% APR. Borrow £2000 and pay £151.47 per month for 24 months. The interest payable is £1635.31. The total repayable is £3635.31.
118 118 Money Loan
Loan Type
Unsecured
Loan Amount
£1,000 to £5,000
Interest Rate
99.9% APR Representative
Loan Term
1 year to 2 years
Representative Example: The Representative APR is 99.9% APR (fixed) so if you borrow £1,500 over 2 years at a rate of 71.3% p.a. (fixed) you will repay £118.88 per month & £2,853.12 in total.
BambooFinance Guarantor Loan
Loan Type
Unsecured
Loan Amount
£1,000 to £5,000
Interest Rate
-
Loan Term
1 year to 5 years
Non homeowner & tenants guarantors ok. No upfront fees. Fast online approval with same day pay out. T&Cs may apply.
Representative Example: The representative APR is 49.7% APR, so if you borrow £2,500 over 3 years at a rate of 41% p.a.(fixed) you will repay £121.74 per month & £4,382.59 in total.
TFS Loans Guarantor Loan
Loan Type
Unsecured
Loan Amount
£2,000 to £10,000
Interest Rate
-
Loan Term
4 years to 7 years
TFS Loans are a specialist Guarantor loan company, lending money for over 6 yrs. TFS offer loans up to £10,000, usually within 24-48hrs. Repay in affordable monthly installments.
Representative Example: The representative APR is 43.9% APR (fixed) so if you borrow £6,500 over 5 years at a rate of 43.9% p.a. (fixed) you will repay £239.05 per month & £14,342.90 in total.

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Bad Credit Loans Explained

by Hannah from money.co.uk

We explain how bad credit loans work, who they're suitable for and why they might be right for you.

Money Jigsaw

Bad credit loans are designed to offer flexible borrowing opportunities to those who have previously been turned down for credit due to CCJs, arrears or simply having a poor credit history due to missed or late payments.

Loan providers see lending to people with a poor credit history as a risky investment, so the majority of lenders only offer people in these circumstances secured loans.

What are secured loans?

Secured loans mean the amount borrowed is secured on the applicant's property or another valuable asset - because of this poor credit loans are usually only available to homeowners.

Lenders prefer secured loans as they provide protection for their investment. If the borrower doesn't meet repayments over an extended period, providers can repossess the property to reclaim their funds.

What interest rates can you get?

Lenders that offer loans for bad credit will still check your credit score to determine whether they will lend to you, as well as the interest rate they will offer.

The interest rates offered to those with a poor credit history tend to be significantly higher than those advertised on the high street.

However, the actual interest rate offered to each individual depends on the amount borrowed (with larger amounts tending to attract lower interest rates) as well as the personal circumstances of the applicant.

Those with a better credit history are likely to be eligible for a lower interest rate than those with a poor credit history as they are more likely to meet repayments.

What about unsecured loans?

Because providers need to protect their investment, unsecured loans for people with bad credit tend to be hard to come by.

Most unsecured loans will have higher interest rates than loans that are secured on property especially when applying with a poor credit history. .

In many cases unsecured loans for poor credit will be provided by brokers who have access to lots of plans enabling them to find the lowest rate that fits your personal circumstances.

When looking to take out personal loans bad credit can make it feel like you have no option but to accept whatever you are offered. Regardless of your financial circumstances it is important to be mindful of lenders charging very high interest rates.

What next?

The majority of bad credit lenders place little restriction on what the borrowed funds can be used for.

Whether you want to consolidate your existing commitments into a more manageable monthly amount or buy a new car, you should be able to do so.

Additionally, some lenders offer features such as optional repayment holidays and low early repayment charges, possibly waiving them altogether.

By comparing quotes from different bad credit loan providers you should be able to find a loan plan that is right for you.