Bad credit loans frequently asked questions - if you have adverse credit, this is your guide!

Bad credit loans frequently asked questions

Why do loan companies offer bad credit loans?

Because people need them! In the past few years, as loan companies have come to realise that more and more people are having credit problems, the choice of bad credit loans has increased dramatically while interest rates and other charges, such as arrangement and valuation fees, have fallen. As a result, people who would in the past have been turned away, can now get bad credit loans.

Will I have to put up my house as collateral on a bad credit loan?

If you choose a secured loan, then the equity in your home will provide security to the lender in the event that you don't make the repayments. However, if you choose an unsecured bad credit loan, interest rates will of course be higher, to reflect the greater risk that the lender is taking.

How much can I borrow on a bad credit loan?

You can borrow from £1,000 to £500,000, depending on a variety of factors, including the amount of equity in your property, your employment status and your financial circumstances, over a period of 1 to 25 years.

Do I have to get my house valued before applying for a bad credit loan?

No, you don't need to do anything. We will arrange the valuation to be carried out by a property expert, who will view your property and assess its value at a convenient time for you.

Where can I find an explanation of bad credit loan terms?

Just click on our loan glossary for an explanation of some of the words you might come across when you're looking for a bad credit loan or other form of finance.

How do I apply for a bad credit loan?

Applying for a bad credit loan is very straightforward. You can either apply for a bad credit loan application online using our simple form or call our friendly staff on 0800 019 7373. Of course, if you have any questions regarding your credit history, we'll be happy to help, so just ask.

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