• Personal Loans

    Borrow between £500 to £25,000

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  • Short Term Loans

    Borrow between £100 to £2000

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  • Great online loan service

    Straight forward process, nice and simple. Received a decision straight away and didn't need a guarantor even though my credit isn't great. Glad I found your site!

    Peter McDermot - Manchester

  • Easy to use service

    Come to the site to find a short term loan. The service was easy to use and received a fast decision. Managed to help me even when others turned me down. thanks!

    Sarah Barker - Suffolk.

  • Loans for Bad Credit

    loans for bad credit


    Loans for bad credit may be the only option open to people with a poor credit history. If you fall into this category then you are on the right page. It doesn’t take much for your credit rating to be damaged, a few late payments on your credit card or a default on your credit file can make you a non-attractive candidate for many of the mainstream lenders, even though you know you can comfortably meet the monthly payments.
    As a general rule, the interest is a lot higher with these types of loans, regardless of whether they are short term or long term, this is because there is a higher risk element involved for the lender and so the interest reflects this. All lenders have a point where they cannot cater to borrowers. If for example someone has been made bankrupt or they have a high number of CCJS it is unlikely any type of loan would be available.
    Some lenders will have both types of financial products available, a mainstream lending product and a product that offers a loan for people with a poor credit history. The product will be similar but the terms and APR will be different.

    A Closer Look At Personal Loans For People With a Poor Credit History

    If you are looking for a short or long term instalment loan and your credit is either poor or very bad you will come across many different options from various companies. Almost all will be a high APR. One thing you may see is claims saying things like guaranteed loans and no one refused. This is completely untrue as no lender will entertain someone that is deemed unlikely to pay the money back. Most of these companies will offer guarantor loans if you fail the credit check.

    Bad Credit Loans With No Guarantor

    While this is possible if your credit is below average or poor, you will be unlikely to find any loan companies that will offer you a loan without a guarantor regardless of whether you apply through a broker or lender. If you manage to find a lender that offers very bad credit loans with no guarantor it will probably be because the APR is extremely high. It is even possible to pay back nearly double on what you have borrowed. These companies offer loans with a high APR because they know a percentage of people will fail to repay the loan but those that do will make it financially viable to offer loans without a guarantor to high risk borrowers.

    Options of very Bad Credit Loans Without a Guarantor

    • Apply through a broker - Access many lenders
    • Apply direct to a bad credit lender
    • Door step loan company


    Payday Loans

    Payday loan lenders are usually more lenient due to the fact the loans are usually smaller and are repayable on your next payday. Typically, these are to bridge the gap between paydays and many people use them to cover an unexpected bill that arises. Although not classed as a bad credit loan if you only wish to borrow a few hundred pounds or less and your credit isn’t perfect you may still stand a chance of being excepted for a payday loan.

    No Credit Check Loans

    You may have been searching for this or seen this online, in reality, in order for lenders to deem if you are a match for their product they will have to perform a credit check. The only time you will not be required to have a check by a credit reference agency is if you are using a guarantor. Reputable lenders will not offer loans with no credit check as these are illegal and it is advised to stay away from any company offering a loan without a credit check.

    When you are looking for the best loans which cater for poor credit histories, it can be confusing when you are looking over the hundreds of search results on Google and then visiting all the bad credit websites. It's difficult to know who to choose. If you are using a broker who sends your info to hundreds of bad credit lenders you may end up with a huge amount of emails and phone calls, so be mindful of this. Remember, never pay a fee to a broker to put you in touch with a lender as there are plenty of free options out there. At First Quality Finance, we do not charge any fees.

    What Can Bad Credit Loans be Used For

    They can really be used for anything as you are borrowing the funds as an unsecured loan and most lenders do not have a stipulation to what you spend the money on. The only difference to this is if it’s a car finance agreement in which case the funds get transferred directly to the dealership.
    Many people use their personal loans the same as any other loan such as household repairs, holidays, weddings, or debt consolidation, although make sure the repayments are smaller than the collective debt you owe for this to be viable.

    If you are looking for large online loans over a long period, you may have to use a guarantor otherwise lenders may not be willing to provide a loan to you. Loans for people that have experienced a decline in their credit rating will usually be between £100 to £5000 although they can be higher depending on the circumstances.
    At First Quality Finance, we work with all the main UK lenders to help find you the most suitable lender. All you need to do to apply is complete the form on the top right of this page and hit submit, your application will then be processed by the lender immediately and you will be contacted by one of their friendly staff to complete the process. Upon successful completion and signed agreements, your money will be deposited into your bank account.
    Repaying your loan on time can help you rebuild your credit rating.