How To Get A Loan With Bad Credit

How To Get A Loan With Bad Credit

How To Get A Loan With Bad Credit

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