No Guarantor Loans for Bad Credit

A no guarantor loan does not require another person with a better credit rating to guarantee to keep up the repayments if you can’t make them. Read this article and learn how to apply for a no guarantor loan at our site!


What is a No Guarantor Loan?

As its name suggests, a no guarantor loan refers to a scheme where people with bad credit history may get approved for loans without a guarantor. This practice is usually not possible with conventional lenders as they need someone with good credit to secure the repayments for the loans.

To adjust the people's low capability to pay back, direct lenders offer flexible repayments. You don't have to pay back everything at once. Instead, you can spread it in instalments. The less you can afford to pay for each timeline, the longer your period would be.

Our board of direct lenders understands how difficult repayments can be when you are financially struggling. Several missing payments on your credit history do not mean that you are untrustworthy or irresponsible. Those only mean that you may need financial help, which we would be happy to provide in just a few minutes as fast as the same day. They need to take a look at your loan application and formulate a unique financing option to help you.

Why Trust FastPaydayLoans?
How much can I take out?£100-£5000No obligation quotes
Representative APR49.7%(variable)Competitive rates
Will bad credit be accepted?YesLenient requirements
What are the repayment periods?1-36 monthsFlexible loan term options
How can I apply?Apply online24/7 available
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Pros and Cons of a Loan Without a Guarantor


1. Don't Have to Involve Another Person

It can be challenging to find someone willing to take over your debts, especially if you already have a bad credit score in the first place. Thus, you might find it more convenient to apply for a loan that doesn't require you to drag along someone else.

2. More Choice of Loan Products

We have several direct lenders ready to offer you Loans for Bad Credit with No Guarantor. Feel free to compare with each other and choose the one you find most suitable for your situation.

3. Benefits for Family Relationships

It is burdensome to have someone as a guarantor, which is usually a family member. Your family relationships may get ruined if you somehow fail to settle your repayments on time. If you apply for no guarantor loans, you don't need to take such a risk.


1. Lower Chance of Acceptance

While direct lenders are willing to give Loans for Bad Credit with No Guarantor, your chances of approval are slimmer than if you have a great score and a proper guarantor.

2. Higher Interest Rates

Direct lenders take more risk by providing loans with no guarantor to people with bad credit history. As compensation, they will charge higher interest rates than conventional lenders.

3. Less Choice of Loans If You Have Poor Credit

A combination of a bad credit score and no guarantor means a higher risk for lenders. Not all lenders are willing even to consider such a loan application, but you will find a few trustworthy direct lenders willing to do so on FastPaydayLoans.

Can I Apply for a No Guarantor Loan With Bad Credit?

Direct lenders on our platform welcome anyone to apply for a no-guarantor loan. They will not automatically reject you solely based on your poor credit history. Instead, they will run a quick yet thorough checking of your financial state. It will take just about five minutes to get your approval decision.

What you need to get approved is just an income. As long as you have income, direct lenders will be able to measure your capability to repay your debts. They will then construct a loan with a repayment plan designed to be affordable for you to pay on time.

As mentioned before, you may expect the rates to be higher than usual loans. The smaller you can afford to pay each month, the longer your loan period is. The fees may add up. It is highly advisable to consider other financing options if you have any.

How Much Can I Apply for Without a Guarantor?

Each direct lender sets a different maximum limit that someone can apply for Loans for Bad Credit No Guarantor. But overall, the most you might be able to collect on our platform would be £5,000. With just five minutes of the approval process, this amount of money can do so much to help people to get by.

While it might be tempting for you to take that much money, bear in mind that you will have to repay your loans later. The bigger loan you take, the more it might be burdensome for you to pay back. Not to mention how much money you will also have to spend on the interest. As discussed earlier, a no guarantor loan has a comparably higher interest rate than any other form of a loan.

If you need a loan to help you with quick loans, it is better to take just the amount you need, especially if you have a bad credit score. You don't want to have another history of late repayments on your record.

How much would you like?

12 month

Representative Example: Rates from 43.1% APR to 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £1,200 borrowed for up to 75 days. Total amount repayable is: £1506. Interest charged is 0.34% per day, amounting to £306, annual interest rate of 124% (variable). Representative APR: 49.7% (variable).

Is It More Expensive to Get a Loan with No Guarantor?

Having bad credit means you have a history of missed payments, debts, bills, or invoices. From the lender's perspective, such a condition means there are risks that you will miss your repayments again.

If you choose to apply for a loan with a guarantor, the risks are lower because the lenders get a safety net if you fail to pay it off. However, your decision to omit the role of guarantor puts away this layer of safety for lenders. Therefore, lenders face double risks when they agree to grant you a loan.

To answer the question, then yes, it is. Most direct lenders will apply high-interest rates on Loans for Bad Credit with No Guarantor. The extra cost acts as a layer of safety net and compensation for the extra risks they take as lenders.

Is a Loan Without a Guarantor a Payday Loan?

There are many forms of loans that you can take without a guarantor. A payday loan is just one of those. Other types of financing options that require no guarantor to take are personal loans, peer-to-peer loans, and logbook loans.

While there is a similarity between them in terms of no guarantor required, they all are different types of loans. Even the same loan type can end up very differently when they come from different lenders.

If you need to take one, you must read all the terms and costs. Checking the lender credibilities is crucial as well because some of them might be unauthorized. However, you would not need to worry that much if applying for a no-guarantor loan on FastPaydayLoans because all direct lenders on our platform are legally authorized.

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Loans Without Guarantors, Are They Right for Me?

Many things you should consider before applying and taking loans, especially the ones with no guarantor. To know if this option is best to take, you can ask yourself a few questions as below:

  • Do I Need the Money from This Loan?

You should be able to distinguish the difference between "need" and "want". Furthermore, consider whether it is possible to delay the spending you plan to do with this money. Take the loan only if the money is necessary, and it has to be now. Otherwise, it is better to save up until your money is enough for what you need to spend.

  • Are There Any Other Financing Options I Can Look Into?

Loans for Bad Credit No Guarantor have relatively higher interest rates compared to other means of loans. Before taking this one, it is best to look for other options that cost you less.

  • Can I Afford the Repayments?

Is your upcoming income enough to keep you from getting by while also paying off your loans? If the answer is no, then it is better to stay away from this loan. You don't want your credit score to worsen because of more missing payments.

Frequently Asked Questions

1. Are Non-Guarantor Loans Secured or Unsecured?

You have options to either get your non-guarantor loans secured or unsecured. If you want it secured, you need to put up an asset as a security. Either way, your loans will be unsecured.

A secured loan means that the lender may take over the ownership of your security asset if you fail to pay it back. On the other hand, unsecured loans have higher interest rates to compensate for the risk of failed payments.

2. Can I Repay My No-Guarantor Loan Early?

Most direct lenders welcome anyone who wants to repay their loans early. However, you must read the terms and conditions of your loan contract to prevent unpleasant surprises you failed to realize. It is also vital to know that lenders usually have early repayment charges, which can be quite high sometimes.

3. Will I Need to Pay a Fee if I Have No Guarantor?

In FastPaydayLoans, there is a fee you must pay to use our service, regardless of your credit scores. Besides the platforms, our direct lenders will also apply extra costs for your loan repayment. Every type and amount of cost will be presented in detail on your loan offerings. Following the rules of FCA (Financial Conduct Authority), expect no hidden fees in your loan details.

4. What Can I Do If I Am Struggling to Repay My Debts?

Applying for a new loan to pay off current debts will not get you any better. Instead, your situation will spiral even worse pretty quickly. If you are struggling to pay off your debts before due dates, consider contacting to acquire free assistance to handle your finances. Other options you can consider are and

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Get Loans That Don't Ask for a Guarantor!

In keeping with our commitment to helping as many people as possible get access to payday loans when they need them, our site features many direct lenders offering loans without a guarantor. Go to apply for a loan at FastPaydayLoans now!

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