Apply Now

Build a stronger future with tailored personal loans

Do you ever dream about getting a shiny new car, having the wedding of your dreams, or fixing up your home? Sometimes, these big life moments can be expensive. Stay calm. Our personal loans in the UK can help turn your dreams into realism. Think of us as your reliable financial allies, always ready to offer you the cash you need when the time is right.

Whether for a holiday, your education, or that item you have been saving up for, our loans are here to help you achieve your goals. Our mission is to demystify the world of borrowing, making it calm for you to realise how it functions and how it can empower you.

What does a personal loan mean, and what are its benefits?

Personal loans work like this: We give you a certain amount of money, and then you give it back to them over time, along with a little extra as a thank-you. Our low credit score loans are incredibly adaptable and can assist you with many things.

  • Home improvements
  • Tutoring
  • Emergencies
  • Big occasions

Even with a 500 credit score, a personal loan is simple to get by approaching a direct lender like us.

Why do people with bad credit turn to personal loans?

Personal loans are like a financial rescue rope when you need extra cash for different purposes. Unlike loans for big-ticket items like homes or cars, these loans are a versatile form of borrowing that can be applied to nearly anything you need. It offers financial freedom, letting you pursue your objectives without putting up assets like your home or vehicle as surety.

People set sail on personal loans with bad credit for numerous reasons, and it is a journey worth exploring. Imagine standing on the shore of life, and there is an enticing island of chances across the financial sea. That island could be a new car, a dream vacation, or a home revamp venture. Often, the bridge to reach it is a loan.

Personal loans in the UK offer a life jacket for unpredictable storms. A loan can be a safe harbour when emergencies strike, like surprising bills or home-based maintenance. It is a rapid way to patch up the leaky financial boat.

We facilitate no guarantor loans for bad credit that help build a sturdy credit ladder. You are climbing the ladder of good credit by borrowing reasonably and making timely repayments. This can open doors to more significant financial adventures in the future, like securing a mortgage or starting a business.

Furthermore, these loans can act as a way to educational adventures. Many students select direct lenders like us for bad credit personal loans. It aids in funding their education journeys, determining new skills and information that can open doors to better job prospects & more money.

These loans offer the freedom to pursue dreams without dipping into savings. These finances can be the wind in your sails, whether for a wedding ceremony, a dream holiday, or starting a new hobby.

Why do people pick personal finances? Personal loans for people with bad credit are the multipurpose choice that helps navigate life's dreadful issues. Steer towards brighter horizons, openings, and ideas.

bad credit personal loans

What factors influence the best personal loan rates?

Why do you pay extra when you borrow money? It is because of something called interest. These interest rates on personal loans can go up or down, and a few important things influence them. Learning about these aspects can help you save money when you borrow.

Your credit score indicates your financial grade. We look at it to figure out if you are trustworthy with money. If your score is high, you will get a better loan deal because it shows you are responsible when borrowing.

  • Income:

    We like to ensure you have a stable job and income. Getting a consistent paycheck makes us more confident in lending to you, which can result in less interest.

    The amount you want to borrow can affect your interest pay. We might charge you higher interest if you need a small amount. Nevertheless, you might get a healthier deal with smaller interest if you borrow a lot.

  • Loan term:

    The duration of your loan also matters. Short-term means you will get the lowest personal loan rates overall since it poses less risk to us. In addition, you get affordable loans only, which means paying interest on personal loans is entirely possible.

Loan Purpose
  • Location:

    The region you live in can also disturb rates. Some areas have higher living costs, which may translate to higher interest. However, we have an online presence all over the UK, and thus, there is little chance that you will get higher rates according to your location.

  • Loan purpose:

    We offer the best personal loan rates for specific purposes. These funds may have different rates based on their intended usage. Here, too, we give you the advantage of using loans for any purpose.

    Loan interest depends on your profile's financial factors. Enlightening your credit score and economic stability can go a long way in securing a favourable rate.

Do bad credit personal loans need a guarantee to fund a business?

You do not have to offer anything valued to guarantee unsecured personal loans for bad credit. It is like showing trust in your business. We lend you money based on how financially reliable your business is without needing any of your assets in return.

Let's think of it this way:

Secured loans are like putting your car up as a backup when you want to borrow money for a car. If you cannot pay, sometimes we take your car. An unsecured personal loan does not ask for such sacrifices. We examine your business's financial health and earnings to determine if you can repay the loan. Your valuable things, like your home or car, do not get involved.

Unsecured personal loans for bad credit with no guarantor option can relieve business owners who do not want to put their stuff at risk. However, getting unsecured finances can be more challenging if you approach traditional lenders who might be choosier and ask for more interest to compensate for the risk.

With us, acquiring bad credit unsecured personal loans is simple. It is like getting a loan based on your business's reputation and financial muscle rather than your stuff. Qualifying is more challenging but will protect your house and prized possessions.

If you need more specific funding products to help your start-up, unsecured business loans are there where you do not have to offer anything valuable as a guarantee. This means more businesses can qualify for them. In such a scenario, we mainly consider how good you are with money and how well your business performs. You will usually get approved quickly and can utilise the money in diverse ways. Despite that, these loans can be helpful for businesses that need cash.

What do you gain from going for a joint personal loan?

Getting a bad credit personal loan online jointly in the UK has a range of benefits that can be helpful for borrowers. It offers a unique set of advantages that can support individuals in reaching their financial aspirations.

Joining forces with a co-borrower for a joint loan takes both of your incomes into account, which means you can secure a larger loan through installment personal loans. This can come in handy when you are faced with significant expenses.

  • Enhanced eligibility:

    Suppose you have a stronger credit history while the other has a higher income. It can enhance the eligibility for the best personal loans for bad credit. This makes it relaxed for individuals with fluctuating financial outlines. It lets anyone access financing that might be challenging to secure alone.

    When you and a partner apply for a loan, and both have good credit scores, you might qualify for a reduced interest rate. We look at the average of your credit scores, which can result in better loan terms. Reduced borrowing costs compared to individual loans.

  • Shared responsibility:

    With a joint personal loan in the UK, both borrowers share responsibility for repayment. This shared accountability can motivate you to manage your finances responsibly. Ensure timely payments. It also spreads the financial burden, making repayment more manageable.

  • Flexibility in spending:

    You can use the funds from this loan for various purposes, from combining the amount overdue to cover surprising expenditures. Thus, co-borrowers need to connect and have a clear settlement plan to earn the benefits like fair credit score loans.

Why does Everydayfunding stand out in personal loans?

We take pride in being your ideal destination in the UK for personal loans, and here is why you should choose us in a nutshell:

Easy and clear

We have made sure that these loans are simple to grasp and obtain. We have stripped away confusing language and surprise costs, offering you a clear, pre-approved personal loan that fits your requirements.

Your financial partner

We are not just bad credit personal loan lenders. We are here as your financial partner. Our dedicated team is here to facilitate instant personal loans to tackle financial difficulties with care and understanding.

Flexible options

Your financial journey is exclusive, and so are your requirements. As a direct lender, we offer personal loans for young people like students or business aspirants to fit your precise necessities.

Prompt solutions

Our rationalised application process ensures you get a quick response and access to the funds when needed. You can apply for a personal loan online and get instant approval based on your circumstances.

Clear & fair

Our commitment to transparency means you won't find any surprises. We offer personal loans for people even with bad credit, so you know exactly what you are receiving.

Building trust

We earned the trust of countless individuals over the years by offering personal loans for bad credit. We are proud to be the responsible direct lenders and look forward to serving as a dependable partner in your financial journey.

In a world of financial complexities, we keep it modest, fast, and customer-centric. Everydayfunding is not only a lender. We are also your financial companion, ready to support you by offering the best deals on personal loan even with low credit scores. Choose us for loans that put your needs first.

What is the upper limit for personal loan borrowing?

The amount of money you can get differs for every loan, depending on the rules and regulations of the lender. With us, you can easily get from £1000 to £25000. You might be eligible for a bigger loan if you have a strong credit history and earn a good income. It is vital to check with potential to determine their specific online personal loan limits and whether you meet their criteria for a larger loan.

How many personal loans can I handle at once?

You can have multiple loans simultaneously, but the number may vary depending on your creditworthiness and local regulations. When deciding whether to approve new online personal loans for bad credit, we consider your ability to manage many loans, credit score, and income. Having too many loans at once can affect your credit and financial stability, so it is crucial to borrow responsibly and ensure you can comfortably handle the repayments before taking on multiple loans.

How should I handle the situation when I can't afford a personal loan?

If you cannot settle your loan, take these steps:

  • Approach us early. Be truthful about your situation and inquire if there are options like postponing payments or adjusting the repayment plan we can offer temporarily.
  • Check your financial situation thoroughly to identify areas where you can trim your expenses and shift more funds toward covering your loan payments.
  • Missing payments may lead to default, harming your credit. Communication with us is key to finding a solution.
Is it advisable to seek a loan right after a home purchase?

You can apply for bad credit personal loans shortly after buying a house, but it is crucial to consider your circumstances to get guaranteed approval. We typically prefer to see a stable financial picture, so waiting a few months to a year after the home purchase may be wise. This allows you to establish a track record of managing your new mortgage and other expenses. Moreover, it can improve your chances of qualifying for a loan with more favourable features, such as lesser interest. Always assess your financial readiness and budget carefully before taking on extra debt.

Is it permissible to finance stamp duty with a personal loan?

Buying property involves a significant expense called stamp duty, and some borrowers choose to use a loan to manage this financial responsibility. Yes, you can use a loan to cover the cost of stamp duty. Consider the interest rates on personal loans and your capability to accomplish both the loan and the stamp duty cost is vital. Careful financial planning and budgeting are crucial. It ensures this approach is manageable for your situation.

Do I transfer a personal car loan to my business?

In most cases, shifting a personal auto loan into your business's financial obligations is rare. Personal auto loans are tied to an individual's credit and financial history. You may need to explore options like refinancing or obtaining a new business loan. Online personal loans involve a fresh application procedure for approval. Your business's financial stability will be assessed separately.

Apply Now