Brokers find loans for people with bad credit
Sometimes known as bad credit loans, these loans are specifically designed for people who have a low credit score and are likely to be turned away by standard lenders. There are many loans for people with bad credit available but most of them are secured so you need to be sensible about the loan you choose. A bad credit loan broker will search through a whole panel of lenders and using your details and desired criteria they will try to find you the loan which you need. There may be a finder fee involved so make sure you read all of the details on the website before charging ahead.
| PROVIDER |
REPRESENTATIVE APR |
LOAN AMOUNT |
MIN |
MAX |
TERMS |
SUITABLE |
SECURED |
APPLY |
Wentworth Direct Finance Loan |
22% |
£1000-£15000 |
12 Months |
60 Months |
Note you must be employed or self empoyed to be eligible. Typical 22% APR. Wentworth Direct Finance loans are not available to persons under the age of 18. |
All borrowers - even with bad credit history, been refused elsewhere, been blacklisted or have CCJs. |
No |
 |
Wentworth Direct Finance can get you a loan even if you have a poor credit rating. They can lend you anywhere between £1000 and £15000 and the terms of the loan are very flexible. Sometimes it is possible to borrow for up to 60 months. Wentworth is a fast and efficient Bad Credit Loans service who will try to help you no matter what your credit history.
Representative APR: Borrow £3000 and pay £114.57 per month for 36 months. The total charge for credit is £1124.52. The total repayable is £4124.52. Address: Wentworth Direct Finance, FREEPOST SEA9712, Gravesend, Kent, DA13 0BR, UK. |
First Choice Capital Resources |
53% |
£100 - £2500 |
1 Months |
24 Months |
Some lenders consider the existence of an active credit and/or debit account as part of their decision making process. |
These loans are available most people even if they have a poor credit rating. |
No |
|
First Choice Capital Resources offers both payday loans and bad credit loans depending on what you are looking for. They work with a large panel of lenders and will do their best to find you the loan you need. The application process is easy but make sure ou can afford to payback what you borrow.
Representative APR: At 53.9 % APR fixed, £3000 borrowed over 36 months payments would be approx £151.19 per month. The total amount to be repaid would be £5442.84. |
Loan Port Bad Credit Loans |
53.90% |
Up To £50000 |
1 Months |
120 Months |
You must be a UK citizen, in full employment and over the age of 18. |
For all borrowers, including those with very bad credits and self emplyoyed. |
Yes |
|
Loan Port is the largest UK loan brokerage service that takes in to account individuals with both good and bad credit histories. Working with over 276 lenders, Loan Port is sure to find a loan that is best suited to you. Once you have filled in a few basic requirements Loan Port presents you with a range of loan products.
Representative APR: A £3000 loan borrowed over 36 monthly repayments would be approximately £151.20 per month with a fixed APR of 53.9%. The total amount to be repaid would be £5442.86. |
The Finance Facility Bad Credit Loans |
19.6% |
£1000 - £15000 |
Ask on application |
Ask on application |
You must be employment and aged 18 to 65 years. |
All borrowers - even with bad credit history, been refused elsewhere, been blacklisted or have CCJs. |
No |
|
The Finance Facility can lend you any amount betwen £1000 and £15000. It doesn't matter if you have a poor credit history they will still do their best to help you.
Total Amount of Credit: £5000; Representative APR: 19.6%; Duration of Agreement: 60 months; Total Charge of Credit: £2881.60; Total Amount Payable: £7881.60 Address: The Finance Facility, Netherley Road, Prescot, Merseyside, L35 1RG |
Merlin Money Loans for Bad Credit |
53.00% |
£100 - £50000 |
1 Months |
25 years |
You must be employment and aged 18 to 65 years. |
These loans are widely available to people of all credit ratings. |
No |
|
If you have been turned down for loans elsewhere then apply online and Merlin Money bad credit loans should be able to help you. No matter what your credit score you can apply online and you could receive the cash you need on the same day.
Representative Example: 49.9% APR Registered office: 35/37 Station Road, Port Talbot, West Glamorgan, SA13 1NN. |
Save Simply Bad Credit Loans |
Varies |
£500 - £25,000 |
12 Months |
25 years |
The Partners will contact you with loan information. Please note that such information should not be used as the sole basis for your loan decision, and may not meet your particular needs. |
Poor credit borrowers, retired, self employed or unemployed. |
Yes |
|
Save simply can find you both secured and unsecured loans of anywhere between £500 and £25000. No matter what your credit rating they will still do their best to find you a loan.
Representative Example: Not available. |
Get Accepted for Bad Credit Loans here!
It is easy to apply for a loan through a bad credit broker who will do their best to find you the loan you need. You simply enter your requirements and some personal details regarding your finances and allow them to do work. They will search a whole panel of lenders to find a loan which will suit your specific needs. So whatever loan you’re after a personal loan or a secured loan, mortgage or even credit card, you will most likely find something to suit you. If you are good with repayments, you may even be able to build up your credit rating.
Bad Credit loans have risks
All types of borrowing carry an element of risk and there are risks involved in a bad credit loan. You pose a much higher risk to the lender as a borrower because you have a low credit score and are more likely to default on a payment than a borrower with a good credit score. You will need to make sure you can cover repayments. With a lot of bad credit loans you will need to put your house up as collateral for the safety of the loan. Therefore if you miss payments on a secure bad credit loan you could even lose your home. Think carefully before you take out any secured loans as there is a lot on the line and even though these loans are designed for people with bad credit the lender will always want their money back in the end.
Will I Qualify for a bad credit loan?
You are likely to qualify for a bad credit loan as they were originally designed for people with bad credit. However, if you have a low credit score you are most likely to be offered a secured loan and this carries risks. Payday loan brokerages work with numerous lenders to try and find you the loans you need and by doing this they can also go to lenders who are most likely to fit your circumstances. If you are offered a secured loan make sure that you consider it carefully as these loans can be very expensive and if payments are missed you could lose your home which is usually used to secure the loan which you borrow.
Warning about bad credit loans
Bad credit loans can get a lot of bad press because the interest rates are often high and when people fail to pay the loans back homes end up being lost and people are unhappy. However, in comparison to payday loans most bad credit loans have a reasonable rate of APR and are even used at times by people with good credit ratings who cannot borrow from the bank. Just be sure that you are not going to default on this sort of loan as that is what will get you into trouble.
Being sensible with bad credit loans
There are some very simple precautions you can take if you are taking out a bad credit loan. First make sure that you are only borrowing the absolute minimum you need, as the more you borrow the higher your costs will be. Do not default as there may be penalty fees and charges and you do not want to lose the asset which you use as collateral with which to secure the loan. Shop around and always read the terms and conditions.
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