Fair Credit Loans from £50 up to £5000^†

• What is a fair credit loan?
• What is a fair credit score for a loan?
• Do I qualify for a fair credit loan?
• What are the interest rates with a fair credit score?
• What are the types of loans for fair credit?
• How much can I borrow with fair credit?
• Can I get a fair credit loan without a credit check?
• What are the best loans for fair credit?
• How to get a loan with fair credit?
• How can I improve my fair credit score?
• Why choose ThisLender?
• Where do I go for help if I’m in financial difficulty?

What is a fair credit loan?

A fair credit loan is a loan you can apply for with an average or ‘fair’ credit score. With a fair credit loan, you won’t be able to borrow as much as you could if your credit score is good or excellent, but you’ll be able to borrow more than if you had a poor credit score. You can also expect average interest rates too.

What is a fair credit score for a loan?

There is no one ‘fair’ credit score you have to have to apply for these loans — every Credit Reference Agency (CRA) will have different criteria on what they deem a ‘fair’ credit score. For example, Experian will class your credit score as ‘fair’ or ‘average’ if it’s between 721 and 880, but Equifax considers a credit score range between 580 to 669 ‘fair’.

Do I qualify for a fair credit loan?

Each lender’s criteria is different for fair credit loans — they’ll consider your credit score, credit history and income to determine whether you qualify. But usually, if you fit the essential criteria below, you stand a good chance of a successful loan application.

• You’re over the age of 18
• You can provide proof of income
• You have a UK bank account and debit card
• You’re not bankrupt
• You have a fair credit rating

What are the interest rates with a fair credit score?

When applying for a loan with a fair credit score, you can expect access to loans with average interest rates. If you don’t have a bad credit score, you won’t get offered the worst interest rates on loans, but you won’t access the best loan interest rates unless you have a good credit score. Improving your credit score means you can access better interest rates.

What are the types of loans for fair credit?

There are a few options available to you when choosing a fair credit loan — here, we’re talking you through three: unsecured loans, secured loans and guarantor loans. Learn about each below.

Unsecured Loans

An unsecured personal loan for fair credit is obtained without risking your personal assets (i.e. your home, your car etc.). That means it’s less risky for you to apply for an unsecured loan, but the risk is increased for the lender, as they have nothing to take as collateral should you default on your loan repayments.

To account for the risk, lenders might expect you to pay higher interest rates, and you might not be able to secure as much money as you originally wanted.

Secured Loans

A secured personal loan is where you secure the loan with a personal asset like your house. If you don’t repay the loan on time, the lender can seize any assets to repay the loan in full. Therefore, think carefully about applying for a secured loan — if you default on payments, you could lose your home.

Because a secured loan is a safer investment for the lender, you can usually unlock lower interest rates and bigger loan amounts.

Guarantor Loans

A guarantor loan could be a good option if your credit score is a little lower than the lender would prefer or if you want to access better interest rates. A guarantor loan means another person co-signs on your loan agreement, agreeing to repay the loan amount in full should you have any problems doing so yourself.

How much can I borrow with fair credit?

At ThisLender, we offer loans ranging from £50 to £5,000, with flexible repayment terms between three and 36 months. How much you can borrow will depend on the lender’s criteria and whether you can comfortably repay the loan in full.

The lenders we work with are all regulated by the Financial Conduct Authority (FCA), which means they have a duty to lend responsibly — so they will always carry out the necessary affordability checks.

Can I get a fair credit loan without a credit check?

No. No responsible lender will lend to you without performing a credit check. Even if you’re applying for a loan designed for bad credit, lenders will always check your financial status and history before lending for any loan type.

When getting an initial quote through ThisLender, lenders will perform a soft credit check to check which products will best suit you — a soft credit check does not show up on your credit file. Only once you proceed with a specific lender will they perform a hard credit check

What are the best loans for fair credit?

Which fair credit loan is best for you entirely depends on what you’re looking for and your personal circumstances. There is no one ‘best loan’ to suit everyone. Our lenders are flexible, so we can match you with the best lender for your specific situation.

How to get a loan with fair credit?

You can apply for a fair credit loan directly with a lender on their site or use a free online loan matching service like us to help you find the right fit without lifting a finger. Using a free online loan matching tool like ThisLender means you can confidently get matched to a trusted UK direct lender.

How can I improve my fair credit score?

There are many ways to improve your credit score, from enrolling on the electoral roll to repaying debts on time. We have some great advice for improving your credit score here: 10 tips to improve your credit score.

Why choose ThisLender?

ThisLender is a broker, meaning our loan matching tool is 100% free for you to use, and there’s absolutely no obligation to accept any quote that comes your way. We do not perform a hard credit check on you when you ask for a quote, so you’ve lost nothing by applying today.

We only work with trusted UK lenders to help you find the best match for your needs. Our lenders are flexible and aim to offer fast finance to as many people as possible — so if you have bad credit, don’t worry — plenty of bad credit loan options are available.

Where do I go for help if I’m in financial difficulty?

If you are having financial difficulties or need to speak to someone regarding your financial situation before applying for a loan you can get free and confidential advice from MoneyHelper (formerly The Money Advice Service), National Debtline or debt charity StepChange.