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Loans for Fair Credit

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Do you want to compare loans for fair credit? At Personal Loans Now, we can do exactly that and show you the best loans for people with fair credit. With one easy application we’ll provide you with an overview of the entire market. With loans available from £1,000 up to £20,000, you’ll find the best rates and same day funding with our loans for fair credit. Click apply now and see how we can help you today.

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What are Loans for a Fair Credit Rating?

Have you found getting approved for a loan difficult due to having a fair or poor credit rating? We can help by showing you the best loans for people with fair credit from direct lenders willing to help. As much as everyone would like to have a perfect credit score, this can be difficult to obtain. Especially if you do not have much of a credit history to your name or very poor credit. We can connect you with lenders who can consider your fair credit rating and look to approve you for the best rate loans. Much like our personal loans, you can compare loans for fair credit easily with just a few details. Click apply now and in just 3 minutes you can compare loans for fair credit, all without needing a credit search performed.

How Can I Be Eligible to Compare Loans for Fair Credit Online?

To be able to find loans for people with fair credit, you will need to meet our eligibility requirements:

  • You are aged 18 years or older
  • You are a current UK resident
  • You have a UK bank account
  • You have a regular source of income

By meeting these requirements, you will be able to apply for loans for fair credit through us. Although you may be eligible, this doesn’t guarantee approval for the loan you want, even for an emergency. You’ll still need to go through a credit check and affordability assessment. This is to ensure that you can afford the loan you have applied for and are not in current financial difficulties.

 

Loans for a Fair Credit Rating Through Personal Loans Now

We can help you compare loans for fair credit easily online using our credit on demand system. Providing a quick and convenient service is just one of the main ways we can help you get the funds you want. Other advantages include:

  • Complete Online Application – you can apply for loans for fair credit fully online. No need to wait for paperwork to be signed.
  • Low Apr Rates – we offer low rates of interest and search the market to find the lenders who can offer this,
  • High Approval Rates – Our lenders offer high acceptance rates with their loans. We’ve helped 50,000 people already just like you get the loan they want.
  • Instant Approval – once you have submitted an application, our lenders can give you instant approval in 90 seconds.
  • Same Day Funding – once approved, our lenders can credit your bank account on the very same day.
  • Fully Authorised – Our panel of direct lenders are fully authorised, and commit to lending responsibly.

Click apply now to see how we can help you find the best loans for people with fair credit. We’ll search the entire market to show you the best deals without a credit check. Whether you need a loan for a car or holiday, we can help.

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Get the Best Rates on Loans for Fair Credit

To get the best rates when applying through us for loans for fair credit, you’ll need to ensure you have assessed your current finances. Although our lenders can offer the best rates, normally the very best deals are reserved for people with good to excellent credit. Even if you have the affordability, if you have bad credit this will affect how much you can borrow. It will also affect the amount of interest you will pay. If you have bad credit, the rates of interest will be higher. This is due to the lender taking a bigger risk lending to you. You’ll need to consider whether the interest being offered works for you. You’ll need to ensure you can afford to make repayments without struggling.

If affordability is low after comparing your income and outgoings, you may need to adjust how much you want. You can use our loan calculator to see how much the repayments would be including the interest charge. But remember, this can vary depending on the lender. Our panel of direct lender offer higher value loans, if you have bad credit, you may only be able to apply for up to £7,500.

Loans for Fair Credit FAQs

Do I Need a Credit Check to Apply for Loans for Fair Credit?

Yes, as per FCA guidelines, we will need to perform a credit check as part of your loan application. You won’t need a credit check for your personalised table of offers. But once you apply, a credit check will be needed. If you find any lenders willing to lend to you without a credit check, you should report them to the FCA. A search of your credit file is designed to help protect you as much as the lender. Without having one, you could borrow too much and negatively impact your finances or struggle to make repayments. Also, a lender would be taking a much larger risk with you without checking your credit score.

What is the Interest Charge on Loans for Fair Credit?

At Personal Loans Now, we charge a fixed rate of interest at 39.7% RAPR (representative annual percentage rate). This means that your interest charge will remain the same throughout the loan term. Some lenders may charge up to 99.9% and offer not just a fixed rate of interest, but also a variable-rate one. With a variable rate, the interest amount can increase as well as decrease during the loan term. This is similar to a credit card and can be more difficult to manage or budget for regular payments. With a fixed rate, you can see how much interest you need to pay in total and what your monthly repayments will be.

Can I Apply for Loans for Fair Credit Whilst in Financial Difficulty?

We are happy for you to apply for a loan through us. However, if you are in financial difficulty, we may not be able to help. Since our panel of lenders commit to lending responsibly, they cannot lend to someone in financial difficulties. This is because it will mean you could overextend yourself with further borrowing. You will need to carefully think about whether applying for more funding is the right thing to do in your situation. We recommend that if you are in financial difficulties that you look at long term solutions. Speaking to a free organisation, such as the Money Advice Service or Citizens Advice, can help. They can offer impartial financial advice to assist you.

Can I Get Loans for Fair Credit without a Guarantor?

You don’t need to have a guarantor to be approved for loans for fair credit. However, some lenders may require you to have one. If you currently have a poor credit rating, a guarantor loan may be a great option for you. Having a guarantor will mean someone will co-sign your agreement to help increase the chances of being approved. This will also provide the lender with a bigger guarantee against the loan. If you have fair to good credit and the affordability to make repayments, you may not need a guarantor.

How Can I Check My Credit Score?

We recommend checking your credit score before applying for a loan. Especially if you don’t know what it currently is. You can check your current score by using a credit reference agency, such as Experian or Equifax. You’ll be able to see not only your current score but also what a lender will see when searching your credit file. This way, if you have fair to bad credit, you’ll be able to see what areas you would need to make improvements in. This is in order for you to increase the chances of being approved. Improving your credit score can take time. If you currently have no credit history, by starting to apply for credit you may see a quick change. However, you should try to avoid applying for multiple loans as this can have a negative impact on your credit.

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