Compare Poor Credit Loans

Compare companies that offer loan products designed specifically for borrowers with poor credit ratings. Compare a range of personal loans from UK lenders and check your eligibility* without impacting your credit score

Getting a quote won't affect your credit score
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11 products found
    • KOYO Personal Loan logo

      KOYO Personal Loan

      • Loan Type
        Unsecured
      • Representative APR
        24.9% APR
      • Available Amounts
        £1,500 to £12,000
      • Min / Max Terms
        1 to 5 years
    • Oplo Personal Loan logo

      Oplo Personal Loan

      • Only available to homeowners
      • Loan Type
        Unsecured
      • Representative APR
        26.9% APR
      • Available Amounts
        £2,000 to £15,000
      • Min / Max Terms
        2 to 6 years
    • Freedom Finance Personal Loan logo
      Broker

      Freedom Finance Personal Loan

      • Loan Type
        Unsecured
      • Representative APR
        27.5% APR
      • Available Amounts
        £500 to £25,000
      • Min / Max Terms
        1 to 7 years
    • Creditspring Loans logo

      Creditspring Loans

      • Loan Type
        Unsecured
      • Representative APR
        43.1% APR
      • Available Amounts
        £500 or £1,000
      • Min / Max Terms
        Up to 12 months
    • Guarantor My Loan logo

      Guarantor My Loan

      • Guarantor
      • Loan Type
        Guarantor
      • Representative APR
        48.9% APR
      • Available Amounts
        £1,000 to £10,000
      • Min / Max Terms
        1 to 5 years
    • 118 118 Personal Loan logo

      118 118 Personal Loan

      • Loan Type
        Unsecured
      • Representative APR
        49.9% APR
      • Available Amounts
        £1,000 to £5,000
      • Min / Max Terms
        1 to 3 years
    • Loans By Mal Personal Loans logo

      Loans By Mal Personal Loans

      • Loan Type
        Unsecured
      • Representative APR
        53.9% APR
      • Available Amounts
        Up to £5,000
      • Min / Max Terms
        9, 12 or 18 months
    • Bamboo Personal Loan logo

      Bamboo Personal Loan

      • Loan Type
        Unsecured
      • Representative APR
        59.7% APR
      • Available Amounts
        £1,000 to £8,000
      • Min / Max Terms
        1 to 5 years
    • Likely Loans Personal Loan logo

      Likely Loans Personal Loan

      • Loan Type
        Unsecured
      • Representative APR
        59.9% APR
      • Available Amounts
        £500 to £5,000
      • Min / Max Terms
        1 to 3 years
    • Salad Money Personal Loan logo

      Salad Money Personal Loan

      • Only available to borrowers employed in public service
      • Loan Type
        Unsecured
      • Representative APR
        69.9% APR
      • Available Amounts
        £500 to £1,000
      • Min / Max Terms
        12 to 18 months
    • Everyday Loans Personal Loan logo

      Everyday Loans Personal Loan

      • Loan Type
        Unsecured
      • Representative APR
        99.9% APR
      • Available Amounts
        £1,000 to £15,000
      • Min / Max Terms
        18 months to 5 years

Also for Bad Credit Loans

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Our service is free of charge but we receive commissions from the providers we refer you to. This table is initially ordered by representative APR. You can use the options above the table to order it according to various criteria. You may be offered different rates depending on your personal credit rating.

Our comparison service features a selection of providers from whom we receive commission.

*Eligibility Service:

The loans eligibility service is provided by Freedom Finance. The data you supply and submit is used to retrieve loan quotes from Freedom's panel of lenders. By using their loans eligibility service you are agreeing to Freedom's terms and conditions and privacy policy which can be found at freedomfinance.co.uk

Freedom Finance is a trading style of Freedom Finance Limited who are authorised and regulated by the Financial Conduct Authority. Freedom Finance Limited. Registered Office. Atlantic House, Atlas Business Park, Simonsway, Manchester, M22 5PR. Registered in England & Wales 06297533. FCA No. 662079. VAT Registration Number 257 0001 44.

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Last updated on 20 January 2022.

Poor Credit Loans FAQ

What is a poor credit loan?

Increasingly, lenders are willing to provide loans to people with poor credit, who may be unable to find loans elsewhere. So long as borrowers are 18 or over and have a steady income, there are various options on the market for finding a loan.

Where can I get a poor credit loan?

Poor credit loans can be requested from a number of different lenders, including some high street banks and challenger banks, as long as they are authorised by the Financial Conduct Authority. A detailed list of authorised lenders is available on the FCA website.

What causes poor credit?

In some cases, you might simply have little or no credit history. In that case, lenders will say you have poor credit. In other cases, you may have not managed previous forms of credit well, or you have made a high amount of applications for loans or other forms of credit. These actions will cause a downgrade to your credit score.

Will a poor credit score reduce my chance of getting a loan?

Having a poor credit score will limit the number of lenders you can turn to, to take out a loan. Poor credit scores will carry a higher risk for lenders, and some might choose to reject a poor credit loan outright. However, there is an increasing number of lenders willing to provide poor credit loans. The important distinction is that poor credit histories will deter some lenders, who might demand a higher level of interest or add higher charges. This is why it is vital to carry out research on lenders, in order to find the cheapest deals and make sure you can keep costs low.

What kinds of loans are available from lenders?

  • Secured loans are typically loans taken out in the knowledge that collateral is required, should you prove unable to repay the loan. If this occurs, the collateral will be handed over to the lender as agreed.
  • Unsecured loans also known as personal loans, don’t require collateral but the lender is still legally entitled to find ways to retrieve any money that can’t be paid back.
  • Guarantor loans offer security, as you can take out the loan despite poor credit, and elect someone you know to ensure repayment. Your guarantor may have a higher credit score, and reassure the lender that the loan will be repaid.

I have lots of different debts. What can I do?

Lenders are in a position to offer you consolidation loans, if you have a number of different loans from different sources. Bad credit will limit your choices when searching for willing lenders, but some lenders may still be willing to offer you consolidation loans, which can help merge your debts into a single sum, payable to a single lender.

Consolidation loans are typically used to consolidate existing debt, but when used on a frequent basis, to consolidate newer borrowings, there is a risk that lenders may downgrade your credit score, as they may believe you have an over-reliance on credit.