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Bad credit Loans

  • Doesn’t put your assets at stake- NO SECURITY
  • Designed for people with less than perfect credit score
  • Needs no guarantor to vouch for you

Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
Credit subject to status & affordability assessment by Lenders.
LoanTube is a credit broker and not a lender

Our comparison service is free for you to use. Yes it’s free!!

Are you thinking how we make money then? – We receive a fee or commission from lenders whenever you obtain a loan through LoanTube.

3 Things you Need to Know about Bad Credit Loans

To provide you with the best protection, the Financial Conduct Authority has raised the bar high for lenders and brokers wanting to offer bad credit loans to consumers. The United Kingdom is known as one of the most regulated financial markets in the world for bad credit loans. What does this mean for you?

One, there are stricter rules governing the terms on which bad credit loans can be offered to a consumer. That includes a maximum level of interest, a maximum default fee if you miss a payment (many lenders no longer charge for this), and the amount of fees and interest you pay on a loan is capped.

Two, every lender has their own preferences on the types of people they like to lend money to. If you approach a lender directly, you have no guarantee that you fit their criteria. However, by using a broker like LoanTube, your application is sent directly to the lenders we know will be happy to work with you.

Three, if you approach multiple lenders and apply directly, each one may carry out a full credit check. Moreover, please note multiple credit checks can sometimes ruin your credit report.


When should you Take Bad Credit Loans?

  • When your credit score is poor or bad*
  • Multiple banks and credit unions have declined your loan request
  • An urgent and unavoidable situation which demands finance*
  • You have already run out of your savings

When should you not Take Bad Credit Loans?

  • When you are not sure you can afford the repayments*
  • If you are already into a lot of debts
  • Do not take this loan to consolidate your debts
  • If you don’t have a full-time job, don’t bother to take this loan

FAQs on No Guarantor Bad Credit Loans

What should be my minimum age while applying for a No Guarantor Bad Credit Loan?

Our lenders lend only to customers who are aged 18 or above.

Do I need to have a job?

Anyone applying for a bad credit loan must be in a permanent, stable employment. If you are unemployed, you may not be able to pass the lender’s affordability assessments.

I have been declared bankrupt/I am in an Individual Voluntary Arrangement (IVA)/I am on a debt management arrangement. Can you work with me?

Unfortunately, we cannot. Sorry. People on IVA, Debt Management Plan and on Bankruptcy are considered as negative customers by lenders. It is a sign that you can’t really manage your finances.

What do you need to know about me?

We will ask you for information on who you work for, how much you earn, what you spend during a month and on what, where you’re living and what is your residential status.

Does someone have to stand as a guarantor for me?

We do not require someone to volunteer as a guarantor for you.

How long will I have to wait for an answer?

Once we and our lenders have all the details we need, you will get a “yes” or a “no” with quotes/APRs from lenders who are willing to lend you on a real-time basis.

Are you licensed to lend me money?

We are a credit broker and we do not lend you the money. Our partner lenders will lend you the money once they approve your loan request. Applying through LoanTube means you don’t have to submit dozens of applications individually to each lender to get your loan decision.

How do you know which companies will lend me money and which ones won’t?

When we become partners with a lender, one of the first things they do is to send us a list of the types of borrowers they would like to work with. You might be just the type of borrower one lender is looking for but another might not consider you. Our job is to pair you with the right lenders based on the information you give us.

Will I pay more by going through LoanTube?

Definitely not. You do not pay us anything to make an application for a loan. If your request is approved, you will pay the lender exactly what you would have paid them had you approached them directly.

Do you do “no credit check” loans?

No. LoanTube does not offer any no credit check loans. We conduct a soft credit check to know more about your past credit history and your current credit situation.But that’s a good thing. Doing so helps us in knowing the right lenders for you even before we pass your details to them. So this way we don’t pass your details to any lender we already know won’t be able to lend you. The more we know about you, the more personalised and more suitable loan deal we can find for you.

Please note that soft credit check does not affect your borrowing capacity.

Can I change my mind even after I’ve got an offer?

Of course. There’s no obligation on you to accept any offer any of our lenders makes to you.

Why Trust LoanTube?

LoanTube is different. We try to bring you the cheapest possible rates that are available amongst our partner lenders. Although we cannot guarantee that we will find you a lender, you really do have better chances of finding a suitable loan with us because we work with multiple lenders.

How does it work? Our clever computer system compares real-time offers made directly by the lenders. This is all done in real-time and, once we have all the quotes, we will display the offers with their terms and conditions to you.

Taking out Loan and Change of Mind

It is up to you if you want to go ahead and take out of the loan. Please read the terms, conditions, and costs (including APRs and other fees/costs) of the loan to decide whether its right for you. If you accept, a loan agreement will be made between you and the lender but if you change your mind, you can cancel it within 14 days.

Your Quote

In the vast majority of the cases, the quote you see on our offer screen is the quote you get. Occasionally, a lender may need to ask additional questions and do additional checks on your application. Depending on the information you give or they obtain from their sources if that makes your application a significantly riskier, they may change the APRs/quotes of the loan, which could make it more expensive, but you are free to reject such offers. They may also withdraw the offer of a loan.

Our Service is Free

LoanTube’s service is free regardless of whether you find a loan or not, and whether you decide to take up the offer. Under no circumstances, you will pay anything for our services. We receive payment from the lender in the form of a commission whenever a loan is taken out by a customer using our service.

How to Apply

You can apply for an unsecured personal loan with us anytime. It will not take much time to complete our loan application form. To start, click here.

Representative APR example

We compare loans that can be paid back over terms of between 1 month and 25 years. The APR interest rate you will be charged depends on your personal circumstances, and will be between 3% and 299%.

This is a representative example of what it may cost: a Loan of £7,500 over 60 months at 3.3%, APR would equate to monthly repayments of £135.60, and the total cost of the loan that you pay back would be £8,136.22.




*Credit subject to status & affordability assessment.
Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK