The UK’s credit system can be the bane of many when attempting to acquire a loan. It’s often considered as a gatekeeper for most people.

But it doesn’t matter how bad your credit is, there’s still a way to get the cash you need, for whatever reason you may need it for. Granted, the terms of these loans will most likely be a bit more expensive and costly than a loan acquired by a person with good credit.

Unfortunately, the reason these bad credit loans are so expensive is to protect the lender and the risk they are taking, just in case you’re irresponsible with repayments.

But if you’re not irresponsible and can budget well, it shouldn’t be too much of a problem as long as you do your research and understand the terms involved.

Here’s a selection of loans we’ve hand-picked for those with bad credit, ordered by cheapest to most expensive:

#1 Oplo – Homeowner Loan

Oplo are a loan company that focus on homeowner loans.

They’re mainly used by homeowners to fund improvements to a house, things like installing new doors, constructing patios or improving the garden.

As of writing, they offer an unsecured loan for people with bad credit. You can enquire on their site yourself or click on this link and follow their eligibility checker.

#2 1plus1 – Guarantor Loan

1plus1 offer guarantor loans, which offer a better sense of protection for both sides of the lending process.

If you know someone who could bear the cost of the loan, a loan like this can be great for those in need of an extra bit of cash. As long as you know someone who wouldn’t mind footing the bill if things do indeed go wrong.

Of course, for the sake of your relationships and your credit rating afterwards, make sure you can fulfil the repayments of the loan before applying.

Click here to enquire fully about the terms and conditions.

Note: As of writing, they are currently not taking on guarantors that are on furlough.

#3 118 188 Money – Personal Loan

118 188 Money are currently offering a loan to people with a “fair” credit rating, so if your credit rating is absolutely in the toilet, it might be best to stay away from this one.

But if you’re in the middle range, or you’ve started rebuilding your credit and simply can’t wait to get your hands on a personal loan, this might be the option for you.

Compared to the other options, they are the 3rd most expensive loan from the list.

You may have a better chance with the previous 2 loans if your credit rating is indeed “fair”, as opposed to trying for this loan specifically.

#4 Likely Loans – Personal Loan

Likely Loans currently have a loan available for personal use, much like 118 188.

If you’ve failed in your application with them, this would be the alternative.

The repayment terms are slightly more expensive, so make sure you have a plan in place to deal with the slight increase.

#5 Everyday Loans – Personal Loan

A third option for a personal loan would be Everyday Loans, who offer a loan to all credit ratings.

Out of the current offerings listed, they are the most expensive option.

Absolutely make sure that you can make the repayments to not land yourself in further debt, as this could end up being a substantial burden on your budget.

Only attempt this option if the 118 188 of the Likely Loans options have not been successful.


Whatever the reason may be, a loan will always be a better option when you have a good credit rating.

It may be the smarter choice to obtain a credit card that’s made for rebuilding credit if you’re not in an emergency situation.

But if you are, and you need a sudden influx of cash, these loans should be able to give you the lump sum you need.

Just make sure that you have the ability to repay.

Think very, very carefully before making the decisions to apply for one, as they can become quite expensive for people without a constant influx of cash.