Loan Type
Shawbrook Bank Personal Loan
APR/APRC
7.6% APR
Representative (£1,000-£30,000)
Representative (£1,000-£30,000)
Loan Term
1 to 7 Years
Borrow
£1,000 to £30,000
Representative Example: The Representative APR is 7.6%. Based on a loan amount of £10,000 over 60 months at an interest rate of 7.6% p.a. (fixed). Monthly repayment of £199.66. Total amount repayable £11,979.32.
How To Get A Loan With Bad Credit
Lenders will take a number of different factors into account when determining whether to lend to you:
- Your credit rating (see your credit score with our free credit report
- Your income
- Residency status (lenders often require you to have been a UK resident for a minimum period)
- Age (lenders may require you to be over a certain age e.g. 18 or 21)
- Employment status
- Whether you are a homeowner
- Marital status
Things to consider before taking out a load with bad credit
There are a number of specialist lenders who offer loans to people with bad credit, but it is important to take some aspects into consideration before taking out this type of loan.
Before taking out a bad credit loan, please be aware:
- Interest rates may be higher than on other types of loans as the risk to the lender is greater
- If you fail to keep up with repayments, you could damage your credit rating further