Compare The Very Best Bad Credit Loans

Guarantor Loan
This is one of the most affordable types of loan for someone with a poor credit
rating. Though the main requirement is to have someone who will act as the loan
Guarantor. For more details see our Guarantor Loans page.

TFS Loans Representative Example
Borrow £4,000 for 48 months. Repay £191.09 each month.
Total interest of £5,172.53. Total repayable £9,172.53.
Representative APR 48.9% fixed.

TFS Loans

One of the more established lenders in the market, TFS have been operating since 2010 and since 2013 have been using e-signature technology to enable the applicant to submit all the necessary documentation online.

Their £12,000 upper borrowing limit is the largest of all the lenders and they are now a major force in the industry. By offering an extended loan period of up to six years, TFS have worked to ensure repayments are affordable to even those borrowing the highest amount.

The APR on the loans is currently around 49.4%.

Applicants must be at least 18 years of age with a UK bank account, email address and mobile telephone to ensure you can be contacted at all times.

A friend or family members is required to guarantee the loan and they must have a good credit history as the offer will be based on their rating, not the applicants.

There are no upfront fees and it is possible to clear the debt early with no penalties.

For more information see: TFS Loans

UK Credit Representative Example
Borrow £4,000 for 48 months. Repay £175.51 each month.
Total interest of £4,424.69. Total repayable £8,424.69.
Representative APR 42.9% fixed.

UK Credit Loans

Lenders since 2010, UK Credit offer two different types of loan; one to homeowners and one to tenants. A homeowner can borrow a maximum of £7500 for up to five years while a non-homeowner can borrow up to £3000 for a maximum term of 36 months.

The interest rate is fixed for the duration of the borrowing period so applicants know exactly how much will need to be paid back each month. Both loans require someone, usually a friend or family member, to act as the ‘backer’; someone who will pay off any debts should the borrower fail to make the repayments.

For this reason the backer will need to have a good credit history but it is not essential that they are a homeowner.

Trustpilot, the consumer review website, recently awarded UK Credit Loans top ranking and their team have a wealth of experience in the financial market.

The customer services team can be contacted 8am to 8pm Monday to Friday and on Saturday mornings.

For more information see: UK Credit

Trust Two Representative Example
Borrow £4,000 for 48 months. Repay £167.94 each month.
Total interest of £4,060.98. Total repayable £8,060.98.
Representative APR 39.9% variable.

Trust Two Loans

A well-established company who offer a range of loans, Trust Two will lend between £1000 and £7500 depending on your individual situation and requirements.

The applicant must be at least 18 years of age, be a resident of the UK and capable of making the monthly repayments. You cannot be bankrupt, in an IVA or subject to a debt management plan.

You must apply alongside someone prepared to support your application by assuming responsibility for the debt if you are unable to afford the repayments.

They must be between 25 and 74 years of age and have a good credit score. If they are a homeowner you can borrow up to £7500, otherwise the maximum amount available is £5000.

The minimum term is 13 months and the maximum is 60 months. Early repayment is acceptable subject to a small fee. The customer services team are available during normal office hours as well as Saturday mornings.

For more information see: Trust Two Loans

Buddy Loans Representative Example
Borrow £4,000 for 48 months. Repay £193.74 each month.
Total interest of £5,299.70. Total repayable £9,299.70.
Representative APR 49.9% variable.

Buddy Loans

One of the more generous lenders in the market, Buddy offer up to £7500 and promises the potential of funds within just 24 hours; this makes them a very attractive option for any borrower.

They also specialise in offering funding to those who have been unsuccessful with other lenders and even accept those with CCJs.

The borrowing term ranges from one to five years and applications must be supported by a ‘buddy’ who will take responsibility for the debt if the borrower is unable to make the monthly repayments.

This person can be either a homeowner or a tenant but the amount you are eligible to borrow reduces significantly (a maximum of £3000) if they do not own their own home.

They must also be at least 18 years of age and have a good credit rating. At the moment the interest rate charged is 49% and no payments are required upfront.

For more information see: Buddy Loans

Consollo Loans Representative Example
Borrow £4,000 for 48 months. Repay £187.41 each month.
Total interest of £4,995.69. Total repayable £8,995.69.
Representative APR 47.5% fixed.

Consollo Loans

Designed to be a good way to consolidate existing debt and escape the payday loan trap, Consollo have worked hard to create a loan suitable for those with even a very poor credit history.

With loans ranging from £1000 to a maximum £7500 they are also one of the most generous lenders in the market. The terms of the agreement are straightforward with no hidden fees and decisions are made on a case by case basis with particular thought given to the affordability of the repayments.

Applicants will need a friend or family member with a good credit history who is a UK homeowner to guarantee the loan in the event the borrower fails to make the repayments.

This person should also be aged between 21 and 75 and have a good credit rating.

The typical APR is currently around 50% which compares favourably with other short term loan providers. If agreed funds are often available the same day.

For more information see: Consollo Loans

1+1 Loans Representative Example
Borrow £4,000 for 48 months. Repay £181.94 each month.
Total interest of £4,733.07. Total repayable £9,733.07.
Representative APR 45.4% variable.

1 Plus 1 Loans

Offering loans from £500 to £5000 over a period of up to five years they are perhaps not as generous as some of the companies in the market but they are proud to say that they offer ‘a better kind of loan’.

Your maximum available loan and the interest you will pay is based on a number of different criteria to do with your own personal circumstances and very much tailored to what you can afford.

They have a seven day a week, 24-hour online team who can answer your emails at any time and they can also be contacted by telephone during normal office hours.

There is slightly stricter criteria regarding your chosen guarantor as unlike some companies they do need to be a UK homeowner but this is not uncommon.

1Plus1 pride themselves on their speed and reliability; many customers have access to their funds the same day as approval.

For more information see: 1 Plus 1 Loans