Loans for Bad Credit

£50 £2,000
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The cost of borrowing £300 over 6 months:

Fast Loan UK £507.48
Mr Lender £544.00
Cashasap £556.23
Lending Stream £579.00
Money Platform £586.26
Savvy £595.00
QuidMarket £596.46
Cash4unow £599.82
Fernovo £595.92
Ticket Loan £595.92
Loan Pig £595.92
Moneybag £600.00

Proud to offer the cheapest instant short term loans in the UK

Compare our loans to other lenders here

Warning: Late repayment can cause serious money problems. For help, go to moneyhelper.org.uk

Representative example:

Borrow: £300 over 8 months. 8 repayments of £70.31. Total amount payable £562.44. Interest rate: 130.21% pa (fixed). Representative APR: 840.75%

We understand that when you need a loan to cover emergency expenses, having a low credit rating may work against you. That’s why at Fast Loan UK, we’re happy to offer flexible loans for bad credit applicants that can fit your budget, helping you get the cash you need quickly even with a poor credit history. However, please be aware that all of our applications are subject to a fall affordability assessment that takes into consideration your current income and outgoings assessment.

As direct lenders, we’re trusted by our customers for being open, honest and transparent. We’re authorised by the Financial Conduct Authority (FCA) and offer unparalleled customer service, with a dedicated personal Customer Care manager assigned to you for the entire duration of your loan.

Whether you’re looking for 6 month loans for bad credit or can afford a shorter repayment term, we can look to approve applications even if you have been declined elsewhere. Quite simply we look at things a little differently from other lenders, so having a poor or bad credit history is okay with us if you can afford to sustain the repayments. We can look to approve low credit score loans based on your affordability, meaning you could get a loan for bad credit that is affordable for you.

To begin your application and get approved today, just click apply now. If you have any questions about our low credit score loans, please contact us at Fast Loan UK and our team will be more than happy to help you.

Loans for Bad Credit Direct Lenders

If you’re considering taking out a loan, it’s important to understand what you’re agreeing to before proceeding with an application. We pride ourselves on being fully transparent and want you to be confident in choosing loans for bad credit with us, providing you with all the information you need to make an informed decision.

Benefits of a direct lender of low credit score loans

Firstly, there are no broker fees with us - we don’t charge any fees for our loans for bad credit. Our customers have a direct line of contact with us too, so whether you take out a loan for just a month or a 6 month loan term, you’ll be assigned a personal Customer Care manager who will be your point of contact for the duration of your loan. This personal touch means you’ll be able to contact them directly with any questions and concerns you may have, and they’ll provide you with a fantastic service with your low credit score loan.

Borrow the exact amount you need

We offer loans for bad credit ranging from just £50 up to £2,000 loans. The maximum amount you’ll be able to borrow with loans for bad credit is dependent on affordability checks – we wouldn't want to approve loans that could lead you into financial difficulty. You should only borrow what you need, and we offer our loans in £10 increments up to £600 loans, and in £50 increments after that, so it’s easy to get a loan as close to the expense you need to pay, with flexible repayments to match what you can afford.

If you are a new customer with us, you can apply for up to a maximum of £800 with a repayment term of up to 8 months. Returning customers who have settled their first loan are then eligible to apply for up to £2000 and a maximum repayment term of 12 months, subject to affordability checks. We offer bad-credit payday loans as well.

Unsecured loans for bad credit – no guarantor

We don’t require those with a poor credit history to find a guarantor or collateral just to be approved for our loans for bad credit. As direct lenders, our decision-making process is thorough and fair so that we’re able to offer fair rates without the extra risk to you. Choosing unsecured 6 month loans for bad credit means a faster approval process too, as there’s no property to be valued or extra checks to be carried out.

How We Offer Loans for Bad Credit

Having a poor credit score can make it difficult to find direct lenders who will accept you, let alone help without a guarantor. We work a little differently here at Fast Loan UK, which means we can offer low credit score loans to those who have already been declined elsewhere.

We don’t think your credit score is always the best reflection of your financial history. Your credit score may be low due to a single missed payment years ago, and it takes a lot of time to rebuild it. In the meantime, we don’t think you should be disqualified from getting 6 month loans for bad credit when you need them. Instead of judging on credit rating alone, we base our decision on your affordability, so if you can sustain the necessary repayments, we could approve your loan today.

We’ll need to review your last few months of bank statements to see your regular income and outgoings, such as credit card payments, and other credit agreements including phone contracts, direct debits and similar essential expenditure. If you can comfortably sustain the repayments required with enough left over for living expenses, and meet our other eligibility criteria, we’ll be happy to approve a loan for you as direct lenders.

You’re welcome to apply today for our loans for bad credit if you meet the following:

  • At least 18 years of age
  • Are a current UK resident
  • Are in full-time or part-time employment
  • Have a bank account with a valid debit card
  • Receive a regular monthly income

Repaying Loans for Bad Credit

With repaying loans for bad credit, we make the process as straightforward and stress-free as possible. We’ll work out a repayment plan that suits your budget, ensuring that you aren’t overstretched or paying too much in interest unnecessarily.

Choose an affordable loan term

We offer repayment terms from just 7 days up to 8 months as a new customer, with up to 12 months for returning customers – whatever suits your budget. You also have the option to pay your loan off early if you can afford to do so, simply by contacting your personal Customer Care manager.

Flexible low credit score loans

You can decide whether you want to pay in weekly or monthly instalments. Fitting repayments in with your usual salary schedule means you can be sure there will be enough money in your account to cover the instalments. Choose which date each month, or what day each week, you want the money to leave your account when you apply.

Fixed repayment amount

We’ll show you what each instalment amount will be, and we don’t deviate from that. This makes it easier to factor the repayments into your budget over the loan term, and there’ll be no nasty surprises along the way. We’ll set up a Continuous Payment Authority (CPA), so that each instalment will leave your account automatically like a direct debit – just ensure there are enough cleared funds in your account before it’s due.

If you’re ever worried that you might not be able to make an instalment on time, we understand. Life is full of the unexpected, so you should call your personal Customer Care manager as soon as possible and they will try to help you set up an alternative payment method or delay your payment without affecting your credit rating.

Apply Today & Get Loans for Bad Credit Approved Fast!

For more information about our 6 month loans for bad credit, simply contact Fast Loan UK and we will be happy to answer your questions. Once you’ve decided that we’re the right loan direct lenders for you, just click apply now to start your application. It takes just a few minutes to complete, and we could have your low credit score loan approved the same day, with funds in your bank account as soon as possible.

Representative example:

Borrow: £500 over 16 weeks. 4 repayments of £183.59. Total amount payable £734.36. Interest rate: 151.4% pa (fixed). Representative 766.18.% APR.

Loans for Bad Credit - Useful Additional Information

Is 6 months the longest repayment term I can choose?

Our 6 month loans for bad credit are just one of the term lengths you can choose for your repayments. If this is your first time borrowing with us, you can choose up to a maximum of 8 months to repay your loan. This will be subject to credit and affordability checks but means you can adjust the term length before proceeding to make repayments affordable for you.

Are your loans for bad credit guaranteed to be approved?

No lender can guarantee approval before credit and affordability checks are completed, and we are no different here at Fast Loan UK. However, we won’t decline you just for having a low credit score, meaning if you have a bad credit history, we still may be able to help you today. As long as you can sustain your repayments for a loan for bad credit and are not currently bankrupt, we welcome your application.

How quickly will I receive the loan funds?

Once approved, we can transfer your loan amount to your bank account fast – usually within 15 minutes of signing your credit agreement. This will depend on your bank accepting faster payments. If for any reason we cannot transfer on the same day, you will receive the funds by the next working day.

Can I pay off the loan sooner than 6 months?

Yes, if you are approved for low credit score loans with us and want to settle the balance before the end of the repayment term, just contact us. If you can afford to pay off the remaining value of the loan, your Customer Care Manager will be able to provide an early settlement figure. Please note, you will only be charged interest for the days you have borrowed + a £10 early settlement fee (this is subject to this not taking you over the 0.8% daily interest charge).