Loans for bad credit


Loans for Bad Credit

FREE Enquiry and Check – Bad Credit loans are available and can save people hundreds of pounds per month and allow them to get back in control of their finances.

If you have been refused loans by high street banks and other lenders you may believe that your financial situation is impossible. But don’t panic – financial help is at hand. 

We specialise in helping people like yourself. Explore a wide range of bad credit loans. Use our FREE booking service today. One or more loans could suit you.

we look at your credit future, not just your credit history. As such even if you have bad credit or have had a poor credit score in the past, we may be able to help.

If you are over 18 years old and a UK resident, you are eligible to apply for a loan with us. You will need to be able to afford the repayments and demonstrate a regular income. Homeowners, tenants and living with parent(s) customers are accepted.  While having a bad credit rating can make it much harder to find cheap loans, there are still options available to you if you want to borrow money and avoid payday loans, which are extremely risky and can easily push you further into debt.

Loans for Bad Credit – The SituationBad credit loan

Despite their sizable income, our clients were struggling to repay their borrowing. Whilst they were making regular payments, the outstanding balances of their credit cards and loan didn’t seem to be going down!  Previous bad credit history meant than many current leaders wouldn’t accept them with a previous IVA getting a secured loan was proving difficult.Between the two of them, our clients owed a total of £35,200, made up of just under £19,000 on credit cards and £17,500 on car loans, with total monthly repayments of £992.75.

Whilst this was affordable for the customers they were conscious that they weren’t borrowing as responsibly as they could, and that they were paying unnecessarily high rates of interest with no plan for clearing the overall debt.

They owned a house worth £280,000 with an outstanding mortgage of £210,000, with 12 months still to run on their current mortgage product.

Their broker was having difficulty in arranging a remortgage, both as a result of their unsecured debt impacting on the lender’s affordability criteria and because the extra borrowing would take their borrowing to close to 90% LTV – And this would see the rate they were paying on ALL their borrowing almost double.

On top of this, the customer would also need to pay some £3,000 in early repayment charges.

Loans for bad credit  Solution

We were able to offer the couple a highly competitive second mortgage, leaving their existing mortgage and repayments unaltered, this also meant they could avoid ERCs. The second mortgage will repay all the customers’ existing unsecured borrowing.

As the customers are happy they can afford the payments and want to clear the debt as quickly as possible, the loan has was quoted over a 10-year term, giving repayments of £468.11 – less than half their current payments!

And, as the lender allows unlimited overpayments, simply by paying the same amount as they were paying on the unsecured debt, the customers will have repaid their debts in approximately 3 ½ years – allowing them to borrow more responsibly and face the future debt free!


loans for bad credit

Can be available upto 85% – 90% in some cases, your income and circumstances will determine what risk bad credit lenders will take. There are many reasons why someone might have a bad credit rating – perhaps mortgage repayments have been missed or you have had a County Court Judgment (CCJ) taken against you? Whatever your past, there are always options available to you.

As you might have guessed, getting a loan when you have a bad credit history will be hard. However there are much, much worse options that might seem enticing if you desperately need cash. We would never recommend going down the pay day loans route – they will only make things worse.

A low credit score:

  • occurs because of problems you have had managing credit in the past
  • means that you will need to use a bad credit score loan if you need further credit now
  • can be corrected over time by following a well-trodden path of action

So, don’t despair. While high street lenders may not want to help you we have access to a wide range of loans and lenders all designed to cater for your credit situation.

As you know everyone has a credit file. It stores information about your management of credit – loans, utility company payments, credit card repayments, mobile phone contract payments, etc. Any company you want credit from in the future can check your file. Each will have a different way of interpreting the information but it is often turned into a credit score that is then used to say “yes” or “no” to future requests for credit.

There is no absolute figure for what a low credit score is, but you know you have one if getting credit becomes a problem – and you are frequently refused credit in one form or another.

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