If you’re specifically looking for loans without guarantor online, then at Personal Loans Now we have many great options for you. With loans available between £2,000 and £25,000, you’ll be able to find no guarantor loans in the UK that work perfectly for you. With our easy to use online application form, within just 3 minutes, we will show you the lenders who can provide you with the best no guarantor loans available on the market. For fast loans no guarantor online, click on the apply now button and we can show you the most suitable loans for bad credit no guarantor that work for you.
Loans for Bad Credit No Guarantor
Here at Personal Loans Now, we’re happy to help you if you currently have bad credit and need credit fast. Having a bad credit score doesn’t mean we cannot offer you quick loans no guarantor borrowing, as we take into account your full affordability and credit score when considering your application. We understand not everybody has a perfect credit score, which is why we look at your current financial situation in general when processing your loan approval. Having bad credit can mean we are only able to offer you a smaller amount, up to £7,500, so having a better credit score will enable you to borrow an increased amount. Anything higher than this when applying for loans with no guarantor could mean looking at alternative options, such as our Guarantor Loans, to get the larger funds you need. If you’re ready to start your application for bad credit loans without guarantor, click apply now today!
What are Loans Without Guarantor?
No guarantor loans are similar to a personal loan in that they do not require anybody to co-sign the loan agreement. This means the loan will be in your details only, having full responsibility for repayments. To have the highest chance of being accepted for loans without guarantor, your credit score will need to be good, however, you can still be accepted for no guarantor loans even with a poor credit history. If you are approved for instant loans with no guarantor, we can pay into your bank account directly on the very same day, depending if your application is approved during regular working hours (9-5).
What Are the Benefits of Loans Without Guarantor?
There are many advantages to having loans without guarantor compared to guarantor loans. These include:
- Quick Application – get a decision within just 3 minutes
- Fully Online Approval – no need to wait for paperwork to be sent
- Low Rate APR – because you have the means to afford, you can enjoy better rates of interest
- Get an Instant Decision – We’ll provide you with a decision online instantly
- Direct Lenders – we can look to loan you the credit; if we can’t, we lenders who can
What Do I Need to be Eligible for No Guarantor Loans?
To be eligible to apply for loans for bad credit no guarantor, you will need to meet the following requirements as a minimum:
- You are aged 18 years or older
- Are a current UK resident
- Have a valid bank account
- Have a source of regular income
If you can meet the above then we can look to help with lending no guarantor loans today. After clicking the apply now button, we can get to work quickly to provide you with a personalised table of loans so that you can compare easily online the available options. Once you have determined your choice of lender, you can then proceed with your application with ease. As a direct lender, if we can approve your requested no guarantor loans amount, then we will credit your account. If unfortunately, we cannot provide you with the funding ourselves, then we can show you the list of direct lenders who can, all with just one application.
What is the Main Difference Between Loans Without Guarantor & Guarantor Loans?
The biggest difference between no guarantor loans and a guarantor loan is you do not need someone to co-sign the agreement who is a guarantor of repayment. Where no guarantor loans are your full responsibility, a guarantor loan has someone who acts as a guarantor as part of your credit agreement. This means that if a payment is missed or the loan cannot be fulfilled, the guarantor will be contacted to arrange repayment. A guarantor loan may be a good option if your credit rating is poor, as the guarantor’s credit score will be taken into consideration, meaning a lower risk for a lender.
What Happens If My Application Gets a No For Bad Credit No Guarantor?
If we can’t accept your application for loans for bad credit no guarantor and you aren’t eligible for lending from one of our direct lenders through Monevo, then this will mean the risk of lending to you is too high. There could be a number of reasons for this which you will need to address to be able to apply for loans in future. If you are currently experiencing financial difficulties and have difficulty with any existing forms of borrowing, this can have an impact on if your application will be approved or not. Although we are happy to help someone with a poor credit rating as we consider your financial position in general, if you have already made other applications for credit or have a large amount of debt already, as responsible lenders we cannot guarantee your loan will be approved.
Loans Without Guarantor FAQS
How Do Repayments Work with No Guarantor Loans?
During your application, you can select your preferred repayment terms which we will try to match when looking to approve your loan. Some lenders may only be able to offer you the amount you want over a shorter or longer-term, so it is best to check the credit agreement before proceeding with an application. You will need to honour the repayment terms in your credit agreement on time to avoid missing any instalments. This will ensure you do not fall behind or incur any penalty charges during your loan term. If you do feel you are in a situation where you will miss repayments, please contact the lender at the earliest opportunity to discuss.
Can I Apply for Loans Without Guarantor With No Credit Check?
As we are an FCA regulated company who uses the Monevo credit on demand system, we cannot offer any form of lending without a credit check first. The reason for this is because we need to ensure we are lending to you responsibly, otherwise you may fall into financial difficulty. If you have found online somewhere that can provide no guarantor loans without a credit check, we highly recommend you do not use them and find an authorised lender instead, such as those we can show you through Monevo. We are committed to responsible lending and want to ensure you are treated fairly throughout your application.
How Do Secured Loans Work?
Secured loans have the same repayment terms as any other loan form but require you to offer an asset as collateral. This will reduce the risk to the lender, meaning that you can often get better rates than you would with another form of borrowing. The reduced risk also allows lenders to offer funds to those with a poor or limited credit history, as they can claim the collateral to cover the debt if the repayments aren’t met.
All secured loan applications will still go through an affordability check to prevent putting you and your assets at risk, whether it’s buy to let secured loans or regular secured homeowner loans. At Personal Loans Now, we will always conduct full checks to ensure that you never borrow more than you can comfortably afford to repay over the agreed period. This way, you can have confidence in the fact that your assets will remain yours if you meet the agreed repayments.
How Can I Be Sure I’m Getting the Best Deal With Loans With No Guarantor?
We are confident we can provide you with the very best rates and terms available for no guarantor loans. We also want to be completely upfront with you about the application process, which is why when you choose to apply through us, we will show you the list of lenders who are best placed to help, all without affecting your credit score. This way, before you choose to proceed, you can fully see the terms offered from each lender, including Personal Loans Now. If you choose to not continue, then you’ll have peace of mind that a credit search has not been undertaken. Only once you have chosen to proceed with your chosen lender will a credit search be made. We always strongly recommend that you check the credit agreement fully before proceeding with any application for credit.
Do Personal Loans Now Charge Any Fees for Application?
The good news is we charge no fees for an application of credit, however, some lenders may do so. You’ll need to check this when processing your application to ensure there are no hidden surprises added to your requested loan amount. All of the offers from the direct lenders through Monevo will have the information you need upfront and will inform you of any fees before you are required to proceed with a loan application.
Is It Safe to Apply Online For Loans Without Guarantor?
Yes, it’s perfectly safe to apply online for loans without guarantor. As an FCA regulated direct lender, we take your finances and personal details very seriously and ensure all of your personal details and information is kept safe. We will only connect you with other FCA authorised direct lenders as well, meaning you apply safely at all times. At Personal Loans Now, your customer experience is very important to us, so if you do have any queries about Loans without Guarantor, please contact us directly and we will be happy to discuss in further detail.
Apply now for personal credit and get an instant decision!