Payday Loans

Apply For Up to £5,000 *

Representative Example:

  • Loan amount £200 for 35 days.
  • Payable in One total repayment of £256.00
  • Interest charged is £56.00,
  • interest rate 292% pa (variable).
  • Representative 1212% APR.

Select an amount

  • No Hidden Extras
  • Simple Application Process
  • Safe & Secure

Representative Example:

  • Loan amount £400 for 90 days.
  • Payable in 3 monthly instalments of £187.31
  • Total amount repayable £561.92
  • Interest charged is £161.92,
  • interest rate 161.9% pa (variable).
  • Representative 305.9% APR.
Warning: Late repayments can cause you serious money problems. For help, go to

No Guarantor Loans for Bad Credit

No-Guarantor Loan for People with Bad Credit

Need fast cash for a medical emergency, a minor house repair, a new book for a university subject, a month’s rent? No problem. Payday loans are a very convenient option for you. But what if you have a bad credit history?

Many people have this idea that when you have a bad credit history, you will not be able to get a loan for the rest of your life. While your credit score is one of the main things lenders will look at when considering your loan application, you can still take advantage of payday loans even with bad credit. Some lenders won’t even require a guarantor.

Guarantor: Necessary or Not


Some loan providers require borrowers with a low credit score to have a guarantor, or a co-maker. This is usually someone with a good credit history who will also be a signatory in the application or the loan contract. The idea is the guarantor will guarantee to the lender that should the actual borrower default on payments, the guarantor will pay the loan.


The guarantor, while not the main borrower, reduces the risk involved and serves as a sort of safety net for the lender in the event that the borrower will not be able to pay the borrowed money.


Having a guarantor will definitely boost your chance of getting a short-term loan, but sometimes it’s challenging to find someone who’d be willing to be your wingman in a loan application. Fortunately, there are loan providers who offer loans without requiring a guarantor and even if you have bad credit.


How to Apply for a “No Guarantor, Bad Credit” Loan

Before taking out a short-term “no guarantor, bad credit” loan, check the requirements beforehand. These are practically the same as other types of short-term loans.

First, the loan applicant must be over 18 years old and must be a UK citizen. Next, he or she must have a regular source of income. Then he or she must have an active contact number and an active bank account, where proceeds from the loan will be deposited. If you meet all these, the next steps would be a breeze.

When you’re ready to make an application, go to a direct lender’s or a broker’s website and provide in their online form all the required information, like how much you wish to borrow and how long you will be paying for it. You will also have to provide your personal details and circumstances. Make sure that you are giving truthful information since lenders do check these. Then press Send.

Thereafter, simply wait for a reply. Payday loan lenders have a dedicated team focused on online applications, so you don’t have to wait very long to know the status of your application.

Once your loan is approved, an electronic contract will be sent to you, which you have to sign before funds will be released. Be sure to read the contract and its corresponding conditions. Send the contract back to the lender, and in less than 24 hours, money will be credited to your pre-set account.

What Makes a Good “No Guarantor, Bad Credit” Loan Lender?

Despite the risks involved, there are many lenders offering loans to people with bad credit, enabling these individuals to bounce back financially. However, lenders offer different loan options, so finding the right one for you might not be that easy.

Here are a few things to consider when choosing a lender.

Loans are a business. The interest rate charged on borrowers is how lenders earn a profit. Compare the interest being offered by the loan providers, especially since interest rates for a no-guarantor loan for individuals with bad credit are higher because it has more financial risks on the lender than other types of payday loans.

Consider the payment terms if it’s doable for you. Some lenders require repayment in one go, while others have more flexible payment options like instalment for over a few months. Always consider this aspect so that you can manage your finances well and avoid late payments.

Ultimately, assess the lender’s status in the industry. How does it fare compared to other loan providers? A quick search through the Internet can give you a good idea about the lender’s track record.

Understanding Your Credit Score

One crucial part of your financial identity is your credit score. It is a number that generally sums up your entire credit history. It translates to how good, or bad, you are at paying your debt in the past. As such, loan providers will put a premium on this number when you apply to borrow quick funds.

Some loan providers automatically reject an application if the loan applicant has a low credit score, but others are now offering credit even to those with a bad payment history, offering them opportunities to re-establish themselves financially.

If you want to know the details of your credit score, check your credit report through various UK Credit Reference Agencies like Equifax, TransUnion, and Experian.

Improving Your Credit Score

While you might still be offered a loan even if you don’t have a stellar credit score, it will be more beneficial for you in the long run if you increase your creditworthiness. Doing this definitely won’t be a walk in the park, but the results would undeniably be worth it.

They key really is to learn how to manage your finances. If you have an existing loan, reconsider getting another one, unless you really are left with no other choice. Make an inventory of all your current loans and identify which ones are drying up your wallet the most, then prioritize paying off these first, and always pay your dues on time. Do not default on payments. Paying on time is a very vital step if you want to revive your creditworthiness.

Alternatives to Taking Out a Loan

While taking out a short-term loan can help you in times of crisis, it is still wise to avoid any form of debt, unless it’s really the only option left. If you still have breathing room, consider the following alternatives.

A credit card with 0% interest might be a better option than applying for a loan since the payment terms for a credit card debt are more manageable. But should you take this route, be sure to manage your spending very well as owning a credit card can easily lead to other money issues.

Join credit unions. While it might not be easy joining these groups of non-profit lenders, especially if you don’t have a “common bond” with them, if you do get accepted, you get to enjoy very low interest rates on your loans since the main purpose of these groups is not to profit from the loans but to support their members.

Finally, before talking to strangers about getting a loan, why not seek help first from family and close friends. They might just be able to lend you quick money at no additional cost.


What is a payday loan?

A payday loan, also called a short-term loan, is a great option for people who need quick cash for a short period. Maybe it’s for a minor home repair, a new book for a class at uni, or just to cover the current month’s rent while waiting for the next pay cheque. This is considered an unsecured loan since you can apply for it without the need for a collateral. Hence, the interest rate is higher than for other types of loans.

It’s very easy to get a payday loan nowadays. You can deal with a direct lender or seek the help of a broker for faster response specific to your needs.

What is a guarantor?

A guarantor, or a co-maker, is someone who will sign the loan contract with you promising the lender that if you’ll be unable to pay the loan, he or she will pay it. Think of it as like the lender’s plan B if you, the actual borrower, won’t be able to complete the payment terms.

Do I need a guarantor if I have a bad credit history?

Lenders used to require loan applicants with bad credit score to have a guarantor as a safety net in case the actual borrower is no longer capable of paying off the loan. However, many loan providers nowadays are opening up financing opportunities even to those with negative credit history, as long as they have a regular source of income. This is a great opportunity for those who are trying to rebuild their creditworthiness.

How much can I get from a “no guarantor, bad credit” loan?

No two loan providers may offer the same amount for a no-guarantor loan for individuals with bad credit history as it will depend on certain factors, including the provisions in their terms and conditions and how much risk they are willing to take when lending money to borrowers with a negative borrowing history. However, in most cases, a borrower can get £100 to as much as a few thousand pounds. Payment period can also be as early as after a month of getting the loan or up to a couple of years.

What is a credit score and where do I get it?

Think of your credit score as the rating of how good you are at paying past loans or managing other financial responsibilities. A high credit score may mean you are a very responsible borrower, while a low credit score may say the opposite. Your credit score one of the considerations whether a lender will approve your loan application or not.

If you want to know your credit score and the details of your credit history, check with various UK Credit Reference Agencies like Equifax, TransUnion, and Experian, where you’ll be able to pull up a copy of your credit record.