When you need to find loans online whilst having a poor or low credit rating, it can mean having to settle for high-interest rates and less than desirable payment terms. This is where Fast Loan UK work differently to the rest, as we provide loans for people with a low credit score that provide an instant decision and a quick payout. For anywhere between £50 and £2000, you’ll find the right low credit score loans through us, designed with poor credit applicants in mind - Apply Now!
Low credit score loans can provide financial relief to customers who have experienced being turned away by other direct lenders. Designed specifically to help you if your credit score is currently lower than “Excellent” or “Good”, you’ll find many options available when looking online for this type of short term cash loans. However, when you start to look at the terms being offered and the interest rates involved, even for a small amount, it can work out to be less than ideal for your situation.
We understand that not everyone will have that perfect credit rating and whether it’s because of financial difficulties in the past or a lack of credit history because you’ve never borrowed before, we feel it’s unfair to penalise you in present circumstances. If you have now found the affordability and your financial issues are in the past, an instant loan for low credit score applicants are something we can help you with.
Whilst your credit score may be currently low, at Fast Loan UK we can still offer financial help that considers this. We take a personal approach to making lending decisions unlike many other lenders out there, with many opting to use automated processes that filter out any applicants that don’t meet certain criteria. This can mean you could be declined unnecessarily by a lender due to this method before you have the chance to prove your current situation. That’s why at Fast Loan UK we assign all our applicants with a personal Customer Care Manager whose job is to ensure we fully assess your current circumstances. If we can see that you have the income and the affordability to make the repayments you have requested, we’ll be able to offer an instant loan for a low credit score.
All you have to do is fill in our quick application form online after clicking apply now, where you’ll then be given a pre-approved decision. This involves a soft check of your credit file for us to determine your current situation and whether the loan amount and terms you have requested is acceptable. If pre-approved, your Customer Care Manager will then call you to verify some details and fully assess your finances. As we take the time to consider your situation, we are best placed to make an informed lending decision. If after a hard search of your credit file and assessment we can approve your loan, you can receive the funds directly into your bank account in 15 minutes.
We hope to be able to offer our very low credit score loans to a wide range of people, if you can meet the following minimum requirements:
Whilst meeting the above does not guarantee you will be approved for an instant loan for a low credit score, it does mean we can help a broader range of people. If you want to find out if you can be approved for low credit score instant loans, then Apply Now and we can look to approve you in minutes. If you have any questions about how it works, or you wish to speak to a member of our customer care team, please do get in touch today.
We can help many different customers with our low credit score loans and if you were made bankrupt in the past and this has now been completely resolved, there is still a chance we can help. However, there are certain situations we cannot help with our low credit score instant loans, so if you are currently declared bankrupt or filing for bankruptcy, unfortunately, we will not be able to help. This is the same if you have entered a Debt Relief Order or have any IVA’s on your credit file. If you have any queries, please do contact us.
If you have never borrowed from us before, as a new customer the maximum loan term you can choose is 365 days (12 months). Our low credit score loans are a flexible option for many people and during your application, we can work with you to decide on the best loan terms for your circumstances.
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.
This will vary depending on individual circumstances, but our loans for people with a low credit score can help your credit rating in the long term if repayments are maintained and you’ve not applied for many different lending products in a short space of time. Each credit application you make will leave a footprint on your credit file, especially if many hard searches are made in a short space of time. If you maintain repayments on your existing borrowing and pay off on time as per the credit agreement, this can have a positive effect on your credit file. This is because it will show to other lenders you are a trusted borrower and it will help reduce the risk they have in lending to you. Remember, short term loans should not be used to help pay for long term financial issues and can have the opposite effect if you become reliant on this form of borrowing. If you are experiencing financial difficulties, we recommend seeking help from the Money Advice Service or Citizens Advice.