Get a Loan Today - Get the Money You Need From Trusted Lenders.
Get a Loan Today helps you to find the money you need quickly from responsible lenders. Responsible lending means that lenders ensure that you can afford any loan offered, that all charges and interest rates are clearly set out, that lender are fully licensed and act in line with current UK lending regulations. We list lenders who can help in many financial circumstances including bad credit and those who have been turned down by other lenders.
Responsible Lending and Sensible Borrowing
You may have seen lenders who promise they can lend in any circumstances - including unemployed, very bad credit and where people clearly cannot afford to repay the loan. Not only is this unethical, it is also illegal. If you are already struggling with debt, it is very unwise to borrow more money, instead there are other agencies who may be able to help. Please see our Money Advice Page for more information. Many of these lenders who promise to lend under any circumstances are scam lenders, they do not offer you a loan but instead charge you an application fee for trying to find you a loan - which usually does not appear. You should pay no upfront fees to anyone promising to find you a loan, genuine lenders lend after carefully evaluating your circumstances and your ability to pay.
|Lender||Type of Loan||Loan Amount||Loan Details|
|Morses Club||Doorstep Loan||£100-£400||
Cash loans completed in your own home. Weekly collected payments over 20 to 52 weeks. No missed payment charges. Poor credit OK subject to affordability assessment Representative Example:£200 loan repayable over 20 weeks at £15.00 per week, Rate of interest 50% fixed; Representative 756.5% APR, Total Amount Payable is £300.
|WizzCash||Short Term Loan||£200 - £1000||Repay over either 3 or 12 months. Representative example - Total Amount of Credit: £200, Duration of the Agreement: 365 days, Total Amount Repayable: £387.45 to be re-paid in 12 equal instalments of £32.29 on your next 12 pay days, Interest is Fixed at a rate of 144% per year - 0.39% interest per day, Representative APR 297%|
|Wage Me||Payday Loans||£50-£750||Direct Lender, Poor credit considered Representative example: Loan Amount: £100 for 30 days, Interest: £24, Interest rate: 288%pa (fixed), One total repayment of: £124. Representative 1221.5% APR.|
|Freedom Finance||Homeowner Loans||£500 - £200.000||Freedom Finance are a UK credit broker who can help you to find secured and unsecured loans tailored to your own financial circumstances. Searching for a loan at Freedom Finance leaves no credit footprint and provides accurate quotes from a panel of lenders.|
|TrustTwo||Guarantor Loans||£1000-£7500||Guarantor loans for applicants between 18 and 75. Must have a guarantor with good credit - both homeowner and tenant guarantors accepted.Representative Example: £4,000 over 3 years. Representative 39.9% APR (Variable). Monthly payment £178.69. Annual interest rate 34% var. Interest payable £2,432.75. Total repayable £6432.75.|
What Type of Loan Do You Need?
There are many options for short term borrowing, depending on how much you want to borrow and over how long.
Payday loans are a very short term form of borrowing designed for periods of 30 days or less or until next payday. They are designed to provide emergency cash if unexpected expenses arise mid way through the month. Some lenders will allow payday loans to be extended or "rolled over" to the following month but be aware that this will result in additional fees and interest charges. To qualify for a payday loan you will need to be over the age of 18, in employment with a bank account, and many lenders also require you to have a debit card as the loan is repaid in a single repayment usually by debit card. It is important to consider that your next months wages will be reduced by the amount of your repayment so always consider whether this will lead to further problems before accepting a payday loan.
Logbook Loans are loans which are secured on your cars documents, although you can keep full use of your car during the period of the loan. As these types of loans use your car as collateral, remember that if you cannot keep up repayments then your car could be repossessed. Once the loan is repaid, your documents are returned to you. Logbook loans (V5 loans) usually require you to have a car that is less than 10 years old although some lenders do now offer logbook loans for older cars. This type of loan usually does not require a credit check, although you must be the registered keeper of the car, possess the relevant documents for it and the car should be clear or almost clear of finance. The trade value of your car must be sufficient to cover the amount you wish to borrow.
Short Term Loans
Short term loans are loans which are usually repaid in 12 months or less in monthly installments. They can be used for any purpose and are generally unsecured on property or possessions. When taking out a short term loan it is important to consider whether or not your financial situation is likely to change over the period of the loan and whether you will be able to afford the repayments. Your lender must also carry out affordability checks to ensure such a loan won't cause undue financial stress. The lender must also make it clear how much interest and other charges you will be paying under your agreement - you may see an APR which is the applicable annual interest rate of a loan and a representative example - the representative example shows a typical loan agreement including interest and any other charges which may apply.
Doorstep loans are a very expensive form of borrowing, often marketed to those who cannot get a loan elsewhere, such as those on benefits, unemployed and on low incomes. The loan is repaid weekly by way of an agent who comes to your home to collect the repayments. Doorstep loan companies may also offer other products such as shopping vouchers or hampers. Whilst this form of borrowing may seem very attractive to those who are in dire need of cash, be very wary before accepting this type of loan. Interest rates may be very high and there is often no reduction for paying off the loan early. In addition you may be offered further top up loans which can soon spiral out of control. If you are unemployed, receiving benefits or otherwise struggling for cash, check if there are other services operating in your area such as a credit union who may be able to help.
Guarantor loans are designed for people who are not normally able to get a loan due to bad credit, CCJ's or previous defaults. The borrower needs to be able to provide a guarantor - for example a family member or friend, who agrees to meet the repayments if the borrower defaults. The guarantor must be of working age, with a good credit history and for larger loans, they must also be a homeowner. The guarantor basically "underwrites" the loan, ensuring that if the original borrower cannot or won't repay, then they will take over the repayments. This is obviously quite a big responsibility for a guarantor. These types of loans are sometimes marketed as credit building loans, as timely repayments may help to improve your credit score.
You may see adverts for guaranteed car finance whatever your credit history. As with all types of loan agreement if it sounds too good to be true, it probably is. Most offers of "guaranteed car finance" are nothing more than cleverly disguised marketing ploys and in some cases downright unethical attempts to make you pay an upfront fee in order for them to find finance for you. Others may require you to find a guarantor or put down a hefty deposit. There are brokers who will genuinely try to find you car finance, but the amount you will be offered will depend on your circumstances and credit history. If you can put down a deposit you are also in a better position to secure finance. Car dearlerships also offer finance but be aware that they usually only have access to one or two lenders and they may not be able to offer you the best deal. Specialist car finance brokers have access to panels of lenders and will try to find you the best deal based on your circumstances.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk