If your credit history is less than perfect then obtaining a loan from a high street lender can be difficult.
A bad credit history can result from previous mortgage arrears, a County Court Judgement (CCJ) or through difficult financial circumstances caused by redundancy or breakdown of a relationship. With an estimated 1 in 5 people having a bad credit history, the UK Bad Credit Loan market has developed over the last 5 years where many lenders offer a range of competitive secured and unsecured loan deals.
We work with leading independent UK bad credit loan brokers to help you find the right deal based on your circumstances. When looking for a UK bad credit loan, the following factors should be taken into consideration, including:
- Interest rates - These tend to be higher for bad credit loans
- Amount borrowed - The amount borrowed is often restricted for those with bad credit ratings