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No credit check loans 

Can I get a loan without a credit check?

Victoria Russell
Written by  Victoria Russell
5 min read
Updated: 25 Mar 2024

If you have bad credit you might be searching for a ‘no-credit check loan’. Our guide covers what is involved in a loan application and what to consider...

Do no credit check loans exist?

If you don’t have the best credit score or have been refused credit, you may be searching for a ‘no credit check loan’.

In fact, getting a loan in the UK is impossible without a full credit check. But there could still be options for you - even if you have a less than perfect credit score.

Woman using laptop

Can I get a quick loan without having my credit checked?

If you need money urgently and have a low credit score it is understandable you’ll feel anxious about needing to apply for a loan.

You may be wondering if you can get a quick loan without having to undergo a credit check.

But it doesn’t matter whether you’re getting an emergency loan or a standard loan, all legitimate and regulated loan providers in the UK will do a credit check on you when you apply.

Lenders aren’t out to judge your money choices when it comes to credit checks – instead, they’re looking to see how you’ve handled borrowing in the past to decide if you’re a reliable borrower.

This also safeguards you as a borrower because you don’t want to take on more debt if it puts your finances at risk.

So, while credit checks may make it more difficult for you to be accepted for a loan if you have a bad credit history, they're there to help make sure you can afford to borrow and if it’s the right time for you to do so.

There are also specialist bad credit lenders out there who specifically work with people in complex financial situations.

Understanding credit checks

Credit checks are the financial equivalent of a background investigation into your past borrowing and repayment behaviours.

They are a critical tool for lenders, providing insights that help prevent borrowers from taking on debt that may be unmanageable for them.

It's a protective measure for both the lender and the borrower, ensuring that the terms of any financial agreement are sustainable.

Why credit checks are non-negotiable

Lenders are not just being nosy when they peek into your credit history. They use credit checks to assess how reliable you are when it comes to repaying borrowed money.

The information they gather from credit reporting agencies like Experian, Equifax, and TransUnion can significantly influence the terms of your loan, including interest rates and repayment periods.

The truth about payday loans

Many people wonder about the possibility of obtaining a payday loan without a credit check.

However, in the UK, payday loans are regulated by the Financial Conduct Authority (FCA), which requires lenders to assess creditworthiness and loan affordability before issuing a loan.

This means that a credit check is an unavoidable part of the process. In the same vein, you’ll also have a credit check for other short term loans provided by regulated lenders.

Soft vs. hard credit checks

Soft credit check

Soft credit checks are akin to a background check that doesn't leave a trace. They're used for pre-approvals and eligibility assessments for rates and products.

The beauty of soft checks is their invisibility to companies, meaning they won't ding your credit score.

MoneySuperMarket, as a credit broker, performs these soft searches when comparing credit cards and loans, ensuring your credit score remains unscathed.

Hard credit check

In contrast, hard credit checks are recorded on your credit report and can impact your credit score.

If you're shopping around for credit and you rack up multiple hard checks in a short period, it can be detrimental to your credit health.

Loan application with bad credit

While you may find it harder to find the right loan when you have bad credit, it doesn’t mean you’ll automatically be declined.

There are lenders that specialise in loans for bad credit, but like all loans, there will be factors that affect your eligibility.

You’re also more likely to be offered higher interest rates on your loan and you won’t be able to borrow as much.

Finding the easiest loans with bad credit

We know that applying for a loan can feel stressful, particularly if you know you don’t have a good credit score.

It's hard to know if you’ll be approved and your options are likely to be more limited. That’s where we can help.

Our loan eligibility checker will give you an idea of your chances of being accepted for different loans. And searching in this way won’t impact your credit score, as it’s a soft search.

Guarantor and secured loans

Guarantor loans

Guarantor loans can be a lifeline, providing a safety net for lenders through a guarantor. However, tread carefully as these loans often carry high interest rates.

Secured loans

Secured loans require you to put an asset on the line. They may offer more attractive interest rates, but the stakes are high—if you default, your asset is at risk.

Exploring alternatives and improving your credit

Before diving into a loan, consider all avenues. MoneySuperMarket's eligibility checker is a great first step. Also, look into credit unions for alternative lending options.

If you’re struggling with paying off debt, seek guidance from organisations like StepChange and Citizen’s Advice.

For those aiming to improve their credit score, simple actions like registering on the electoral roll and correcting credit file errors can make a difference.

Other useful guides

Here at MoneySuperMarket, we have a range of guides to help you understand loans and credit.

Compare loans for bad credit with MoneySuperMarket

Compare loans with MoneySuperMarket and let us take the anxiety out of the process. We compare loans from a wide range of lenders across the market using a ‘soft search’, meaning your credit score won’t be affected.

We'll show you your chance of being accepted and if you're pre-approved for a loan, you know that if you apply, you’ll be accepted. The loan amount, duration and interest rate are all confirmed.

MoneySuperMarket is a credit broker – this means we’ll show you products offered by lenders. We never take a fee from customers for this broking service. Instead, we are usually paid a fee by the lender – though the size of that payment doesn’t affect how we show products to customers.

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