WARNING: LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. RATES FROM 45.3% APR TO 1575% APR FOR HELP, GO TO MONEYADVICESERVICE.ORG.UK

The Very Best Loans with Loantra

Short-Term Loans

Apply Today to Borrow up to £995

*Online decision

*Responsible lenders

*Rates from 278% to 1576%

*3-12 month repayment

Personal Loans

Apply Today to Borrow up to £25,000

*Instant Decision

*60-Second Application Form

*Rates from 4.7% to 278%

*3-36 month repayment

What Loantra can do for You

Guaranteed Loans for Bad Credit UK

Need money quickly? Got bad credit? Then you might see yourself as stuck between a rock and a hard place.

While none of us ever plans to get ourselves into debt or to live without any kind of savings, sometimes life has other designed for us. Imagine a scenario where you have had to pay unexpected costs relating to your property or home, or where you have suddenly lost money owing to an accident or even a termination of employment. This could have interfered with your ability to pay back any previous loans, which might have left you with a bad credit score – and generally made you unappealing as a potential customer for future lenders.

So you’re coasting by, trying to make do with seriously depleted savings when your heating breaks or you find yourself out of work again. Or maybe a baby comes along and you realize you need more space in your home.

But no one will lend you any money owing to your financial history. What can you do?

Introducing Guarantee Loans

One option is to take out a loan while paying astronomical fees. This is how lenders can protect themselves when they’re concerned that a borrower might not be able to make their repayment deadlines but it of course means that you’ll be paying more than you have to.

The better strategy then is to take out a guaranteed loan. This is a type of loan where you guarantee your repayments by using some form of asset as collateral.

And the most common form of guaranteed loans for bad credit UK are loans using a property as collateral – in fact this is what the term will most usually refer to. Here, you are agreeing that if you should fail to pay back your loan, then the bank can repossess your home and raise the capital that way.

Another type of guaranteed loan is a title loan, whereby you are normally using your vehicle as the guarantee. These types of loans are also commonly known as ‘car title loans’.

 

Are Guaranteed Loans Right for You?

Guaranteed loans for bad credit in the UK are among the best options that you have available to you if you want to borrow money and you have a bad credit history. You’ll pay a lower APR compared with a payday loan and you’ll be able to repair your credit history at the same time.

But of course there are some caveats. Of course you need to own some kind of asset if you are going to use it as a guarantee – whether that’s a car or a home. Likewise, you will need to be absolutely certain that you’re going to be able to pay back the loan – as it would be terrible to lose your property as a result.

Note that there are other options. A guarantor loan, for example is a loan where a friend, family member or acquaintance provides the guarantee on your behalf and this can be a safer way to go ahead – though these loans are relatively newer and harder to come by.

See How We Compare to Our Competitors

Loan amount
£500 - £20,000
Loan term
12 - 60 Months
CUSTOMERSCORES
Good
Apply Now

Show More ▼

Loan amount
£500 - £100,000
Loan term
1 - 18 Months
CUSTOMERSCORES
Excellent
Apply Now

Show More ▼

Loantra is a licensed credit broker and not a lender.

We will never charge you for our service and the lender will not increase the rate to cover our fee to them.

We work with over 40 different lenders to bring you the very best rates from across the UK market.

Representative 305.9% APR. Representative example: £400 borrowed for 90 days.

Total amount repayable is £561.92 in 3 monthly instalments of £187.31.

Interest charged is £161.92, interest rate 161.9% (variable)

Warning: Late repayment can cause you serious money problems. For help, go to moneyadvice.org.uk.

Do not borrow more than you can pay back as defaulting on payments can lead to serious monetary problems.

Any collateral you have against the amount may be at risk of repossession.

5 most recent personal loan reviews

Review of Natwest

My personal loan from NatWest was planned in advance because I like to do plenty of research before committing to something as important as a building extension. I wanted to make sure the loan would be possible and that it was at a competitive rate before I started employing architects and builders. I was in regular contact with our local branch’s loan adviser and they finally sorted out a very good loan for me and once that was agreed I got on to the job of planning this extension. We’d already had the go ahead from the local council so it was all systems go once that all important loan was finalised. Sometimes it’s best to deal with your own bank for such an important loan and I am pleased that I entrusted NatWest with my loan.

Review posted by Wayne Crouch, Plymouth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of U Switch

In our position your company treats us well. We have the income but unfortunately due to circumstances beyond our control our credit rating is bad. Thank you Uswitch for giving us a chance.

Review posted by Neil Morrison, Perth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Wonga

Suprised at ease of application. Never wanted to use these kind of things but had a very tough month and needed a few pounds before payday. After checking different options I found the small amount to payback manageable and it’s all payed back 2 days after payday. Easy process with quick response.

Review posted by Anthony Bell, Chelmsford

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

All reviews have been sourced from Trust Pilot to ensure authenticity of testimonials.