Bad Credit Loan

These are specially for people with a bad credit history eg defaults, county court judgements (CCJs), mortgage arrears, ex-bankrupts and IVA repair.

Simply complete the short form opposite and leave the rest up to us. We will contact you at a time convenient to you to go through all of the options.

If you are a home owner then it is easier to get a bad credit home owner loan because you can use your house as security (so that it technically becomes a secured loan with bad credit). However, there are lenders in the market who will lend on an unsecured basis.

You need to bear in mind that you will not be offered the very low rates that you frequently see in newspapers and on television because lenders will see you as more risky and so will charge a higher interest rate to compensate for that. If you own your own home then by securing the loan you will be offered a lower interest rate.

These loans can take upto a couple of weeks to be granted because of credit checks and getting your home valued etc if you decide to go down the secured route.

As well as the employed, these loans are also suitable for the self employed and retired people.

A bad credit loan can be used for any purpose and can be for any amount from £1000 to £1 million, depending on your personal circumstances, it is likely that you will be able to borrow more by going for a secured bad credit loan.

Please click here to read about credit scoring and credit history.

Please click here to read about the different types of loans available.

Bad credit secured loans for homeowners or bad credit unsecured loans for tenants. No obligation or fees. We can help if you are employed, self employed or retired. Defaults, CCJs, mortgage arrears, ex-bankrupts and IVA repair all accepted. A bad credit home owner loan means that the lender has your home as security if you default.

Bad credit is where a borrower has a credit record which discloses a default on the repayment of a debt or loan facility. Sometimes the existence of a county court judgement does not mean that the borrower is a bad payer because the debt in question may be subject to a genuine dispute. However if the record shows a number of CCJ's then any financial institution†will see that there is a high possibility that they will not recoup their money and so may decline your application meaning that you have to specifically apply for a "loan with bad credit" with the higher interest rate attached.

Defaults may have been due to a temporary period of unemployment or following an expensive divorce settlement etc. A borrower's financial circumstances may have improved considerably but this will need to be proven to the lender.

Generally speaking, if you have a bad credit history then the interest rate will be higher and you may struggle to get unsecured loans so it's best not to let your track record become tarnished by facing up to credit problems and contacting your lender early on because they may be able to help resolve some of the issues.

If you already have a bad credit history then a secured loan with bad credit is best for you because the lender will already be aware that applications which it receives will be "less than perfect" and so will be more sympathetic and so look at ways to get you the money for example by securing it etc. and thus help you to rebuild credit worthiness.