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

Instant Unsecured Loans for Bad Credit

If you have bad credit and you need a loan, then you often have two options. Option one is that you find a lender that will overlook your bad credit and offer you the loan anyway. The problem with these so-called ‘bad credit lenders’ though, is that they tend to offer a much higher APR. And if you’re in financial turmoil, then this can be risky – as you’ll be charged fees if you fail to make your repayments.

The other option is to take secure your loan in some way. This means using some form of asset as collateral (or ‘a security’) and that way, if you fail to pay back the loan, then ownership of said asset will simply transfer over to the lender.

But what if you don’t happen to own a property or a car that you can use to secure your loans? And what if you don’t feel like risking your family’s home in exchange for the money you need?

Thankfully, there are some options for instant unsecured loans for bad credit that don’t involve astronomical rates.

 

Guarantor Loans

One such option is to take out a guarantor loan. A guarantor is someone – normally a friend or family member – that will offer to pay your loan off if you find yourself unable to make the repayments.

This means that if you’re someone who has the money and knows they can pay back the loan, but just don’t have the credit score to prove that, then you can find a friend who trusts you and still get the money. Of course the only downside is that you need a friend or relative willing to do that for you – and there will always be the small risk that you do end up failing to make the repayments (even if it seems unlikely!).

Short-Term Loans

The other option is to take out a payday loan. This is a type of loan that involves a high APR but that lets you pay it off very quickly. As a result, you actually don’t end up spending that much on fees because even a high APR doesn’t add up to much over the course of a month. You’ll be able to see exactly how much you’ll be charged upfront and you’ll pay it all in one go – meaning that it works more like a fee than an interest rate.

If you know you’re about to have a windfall or you just need the cash until payday, then this is the perfect option and can save you from financial trouble!

Installment Loans

Finally, an installment loan is something that fits in between a bank loan and a payday loan. These are longer term comparatively but still involve paying over the course of a few months rather than a few years. They also involve fixed APRs and transparent fees – meaning that once again, you can budget for exactly how much you need to pay each month.

The best part of an installment loan? It actually fixes your credit rating – so you’ll be able to get a regular loan next time!

See How We Compare to Our Competitors

Loan amount
£500 - £20,000
Loan term
12 - 60 Months
CUSTOMERSCORES
Good
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Loan amount
£500 - £100,000
Loan term
1 - 18 Months
CUSTOMERSCORES
Excellent
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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.