Unsecured loans for bad credit

All kinds of events can adversely affect your credit rating – that is when unsecured loans for bad credit may come to the rescue.

Are you looking for an unsecured loan, but have poor credit?

You know how much you earn — or the regular income a pension or benefits give you. You know more or less how much you spend each month. That’s how you make your household budget — and it is more than likely a tight one.

No wonder, then, that illness, temporary unemployment, or a delay in your benefit payments means that you missed an instalment in repaying past borrowing. The result is a black mark on your credit rating. Bad credit.

And that bad credit is likely to make it far more difficult to get credit or to raise a loan when you need one in the future.

Thankfully, therefore, there are lenders who offer unsecured bad credit loans — lenders willing to consider your application even though you have a poor credit rating and prepared to advance a loan that is unsecured against any of your belongings.

Find a loan to suit you

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(It won't affect your credit score‡)
Representative 669.35% APR (variable)
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Is an unsecured personal loan suitable for me?

If you are looking for an unsecured loan, the critical factors are:

  • the amount you want to borrow; and
  • the period over which you plan to repay the loan.

The bigger sum you borrow and the longer the repayment term, the more you need to be prepared to pay in interest — the loan becomes more expensive.

With unsecured personal loans for bad credit, lenders are especially concerned about their affordability and your ability to make the agreed repayments. Along with details of your income and expenditure, therefore, all lenders will conduct a credit check.

How unsecured loans from direct lenders work

Some lenders are what are called “direct lenders” — they are the ones who accept your initial enquiry, any formal application you make, perform the necessary credit checks, and — if approved — advance the cash.

Others are credit brokers — authorised and regulated by the Financial Conduct Authority (FCA) — who search for a suitable lender on your behalf. In their search for unsecured loans from direct lenders, they make an initial assessment of the likelihood of your being approved for such a loan.

That assessment has no effect on your credit rating and that helps you avoid a situation in which your application is rejected and a hard search is recorded on your credit file — something likely to make raising a loan still more difficult in the future.

Are no-guarantor unsecured loans available for people with bad credit?

Where lenders are concerned that your poor credit record suggests possible difficulties in your making the agreed repayments on a loan, some may ask for your application to be supported by a guarantor. This involves a formal agreement in which the guarantor — someone who is a family member or a close friend and in full-time employment — assumes the responsibility for making loan repayments on your behalf if you default.

But there are some lenders also prepared to consider applications from individuals with bad credit and offer unsecured loans with no guarantor.

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Why you'll love unsecured loans from Instant Lolly

Are you looking for unsecured loans for bad credit online because you want something that is quick and easy to apply for? Then we think you’ll love Instant Lolly.

Flexible borrowing

Choose the most suitable loan amount and term for your needs. We provide loans from £100 to £3,000 over 1 to 24 months.†

High acceptance

Fill out one short application form, and we will ensure your details reach all the right lenders for the best chance of approval.

Fast funding

Receive a decision in seconds and get money sent to your bank account as soon as 15 minutes after approval.†

Online convenience

Apply online from the comfort of your sofa, 24 hours a day, 7 days a week. Oh, and it's FREE too!

How we can help with unsecured loans for bad credit

Here at Instant Lolly we specialise in arranging unsecured loans for bad credit. It’s easy to apply online and you’ll get a decision almost immediately!

Not only is our service quick and easy to use, but we offer a wide range of loan options — meaning we can find the loan that is most suitable for you.

Even if your credit history is blotted by past defaults, loans for bad credit from Instant Lolly typically may offer you the opportunity of borrowing between £100 and £3,000 over a period of between one and 24 months — the choice is yours!

Can I apply?

To apply you must:

  • be at least 18 and a permanent UK resident;
  • receive a regular income, such as a wage, a pension or benefits.

You will also need:

  • a mobile phone and email address;
  • a UK bank account with a debit card.
We respect your privacy and will never use, sell or share your information for marketing purposes.
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(It won't affect your credit score‡)
Representative Example:
Representative 669.35% APR (variable). £250 borrowed for 30 days. Interest charged is £60.00. Total amount repayable is £310.00. Annual interest rate of 292% (fixed).
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Important Information

If you do not make your minimum repayment by the agreed upon due date, you may incur additional charges and penalties. If you are having problems paying, please call your credit provider. For other sources of assistance, call the Step Change Debt Charity on 0800 138 1111; or National Debtline on 0808 808 4000; or visit moneyadviceservice.org.uk; or visit your local Citizens Advice Bureau.

†Loan approval: All loan offers are subject to lender final approval. Approval/transfer times vary by lender. Not all lenders may be able to transfer funds in 15 minutes. Approvals/transfers may take longer for applications processed outside normal working hours. If your bank does not support faster payments, it may take longer for funds to reach your account.

‡Credit checks: When assessing your eligibility for a loan, lenders will carry out a soft search; only you can see them on your credit report and they have no impact on your credit rating. If you accept a lender's loan offer, they will perform a hard credit search which will be visible to any company searching your credit report for 12 months.

Instant Lolly does not charge customers a fee for using its services, but it receives a small fee from lenders or other brokers following an introduction through this website.

InstantLolly.co.uk is operated by Amaze Media, a trading name of John O'Hara, 24 Buttercross Close, Burnley, BB11 5HB. Authorised and regulated by the Financial Conduct Authority, firm reference number 742221. Data Protection number Z3495700.