Warning: Late repayment can cause serious money problems. For help, visit  moneyadviceservice.org.uk
Warning: Late repayment can cause serious money problems. For help, visit  moneyadviceservice.org.uk

Apply to borrow from £3000 to £25000*
Apply online today for a personal loan and get a decision today
Apply online today to borrow upto £25,000*
How much cash do you need?
Representative 305.9% APR. Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% pa (variable)
Lucky Loans will never call you or ask you for an upfront fee for using their service. To report a scam visit The FCA
Lucky Loans does not provide any loan or consumer credit products directly. We are a Credit Broker and not a Lender.

What are bad credit loans?

Bad credit loans are a type of loan suited to people with a bad credit history. Typically bad credit loans will come with a slightly higher interest rate and stricter repayment terms than normal loans. This is because individuals with bad credit are less likely to to make regular payments on time and repay the full amount of their loan within the agreed loan repayment period.

Individuals suffering from bad credit may struggle to be approved for finance by many different direct lenders, which is why they will need to apply for a loan that is specifically suited for people with bad credit. The majority of UK direct lenders will make a decision based purely on the credit score of the individual that is applying for a loan. There are many different factors that can contribute to a bad credit score such as making a late payment, defaulting on a bill payment, or even if you have excessively applied for a loan and keep getting turned away.

  • One Simple 5 minute application form
  • **15 minute cash transfers
  • Monthly repayments
  • Instant decisions
  • Applying through us is 100% free
  • Loan durations between 1 - 5 years
  • Lowest interest rates and APR*
  • Flexible repayment terms
  • All credit histories welcome

Bad credit loans are exactly the same as any other type of loan that you can apply for. You can borrow anywhere from £50 up to £25,000 although if you do have a bad credit history many direct lenders will be reluctant to offer you a loan of a large value due to your credit score. The majority of bad credit loans can be repaid in multiple payments, or even as one lump sum, although the repayment terms will vary form lender to lender. Most lenders will only be prepared to offer people with bad credit loans for a short term in order to reduce the risk.

Bad credit loans are specifically designed for people with a poor credit history that may struggle to be approved for more traditional types of finance such as credit cards and overdrafts. Only a small handful of direct lenders will offer loans for bad credit, some may insist on a guarantor if they feel you will not be able to repay the loan in full. However the majority will offer loans for bad credit with no guarantor.

Bad credit is a credit score that is considered to be below the average threshold for many UK banks and direct lenders. This does not mean that you will instantly be rejected for a loan due to your credit history as many different lenders also look at different factors before giving you a decision.

Lucky Loans is part of an exciting new group of online financial websites based in the UK and specialise in personal loans and short term loans. Applying with Lucky is fast and easy, we help thousands of people every week and unlike many high street lenders and banks, we will always provide you with an instant decision.

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How it works

  • Choose your loan amount

    Choose the amount you want to borrow

    By using our homepage sliders you can select your total payday loan amount and borrowing period. You can select funds of £50 – £2000 to be repaid anywhere from 7 days to 3 months.

  • Apply

    Application Form

    Your application is 100% online and should take approximately 5 minutes. So we can give you an accurate and instant online decision we’ll ask you for some personal information such as your home address, employment details and monthly outgoings. For approved applications we will also require your bank details in order to transfer the funds directly into your account.

  • You decide

    Instant Online Decision

    We will give you an instant online decision within a few seconds of submitting your application form. Once approved your loan agreement form will be displayed to you where you can check everything over to make sure that you are comfortable with it. We will always display the total loan amount, interest rates and repayment dates so you know exactly how much you will need to pay back and when, there will be no hidden costs.

  • Done

    Receive Your Funds

    After you have reviewed and accepted your loan agreement form, we will automatically transfer the funds directly into your bank account. We specialise in fast cash transfers, you could receive the funds in your account in just 15 minutes!**

How Much Can I Borrow?

How much you wish to borrow is all dependent on your credit score and history. If you have a good track record or regularly paying your bills on time, direct lenders will likely be able to offer you more money. Typically bad credit loans range between £50 – £2500 and can be repaid over a number of months. If you have a bad credit history and need to apply for a larger amount, the direct lender may insist that you find someone who can also act as a guarantor as this gives the lender more protection.

Fast Cash Transfers

We are proud of our reputation of providing one of the fastest loan application services available in the UK for people with bad credit. Our online loan service guarantees you an instant decision within minutes of applying for a bad credit loan which is what continues to set us apart from many Banks and high-street lenders. Once approved we aim to have funds transferred into your designated bank account within 15 minutes of submitting your application form.

We welcome all credit histories

Whether you have a very good credit history or a very bad credit score, Lucky Loans will have a loan to suit you. We have a reputation of welcoming everyone regardless of their credit score or current financial situation. If you need to borrow anywhere between £50 – £25,000 and have a good or bad credit score, apply online today with lucky loans.

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Which direct lenders offer loans for bad credit?

Only a handful of direct lenders will offer bad credit loans to individuals that have a very poor credit history. Loans for bad credit will tend to come with higher interest rates and much stricter repayment terms, this is because many lenders will see people with a bad credit history as a risk to borrow money to. In order to apply for a loan, particularly a loan for bad credit; a credit check will also need to be carried out. It is during the credit check where a direct lender will see all information relating to your current financial status as well as any previous loans or finance that you have taken out. The lender will also be able to view information as to what has caused your bad credit score, for example if you have defaulted on payments or not repaid a previous loan, all of this information will be seen by the lender you are applying with.

Many direct lenders that offer bad credit loans will also offer UK payday loans as they are usually smaller in value and are repaid over a shorter time period, thus reducing the risk to the lender and the individual applying for the loan.

Most direct lenders will understand that your bad credit has been caused by something in the past such as a missed payment. It is important to be as open as possible when are are applying for a loan and not try to hide something from your credit report that the lender may be able to view anyway. When applying for a bad credit loan, the lender will not make a decision based purely on your credit score, they will look at other factors also. Some direct lenders will take into account, your monthly income and outgoings, homeowner status, age and employment status to form an overall view of your current financial position.

What can I use a UK loan for?
Take a look at the 6 most popular uses for taking out a personal loan

There are many different reasons why people turn to UK loans and why they continue to grow in popularity with UK customers. There is no restriction as to what you can use a loan for; reasons vary from holidays to car loans.

Car loans

Car loans

Home improvements

Home improvements





Pay off existing debt

Pay off existing debt

Unexpected bills

Unexpected bills

How can i get a loan for bad credit?

As the name suggests, you do not need a good credit score to get a loan for bad credit. Direct lenders will look at a whole range of aspects before giving you their decision. It is no secret that getting access to a loan if you have bad credit is notoriously harder than if you have a good credit score, however it is still possible with many lenders. Loans for individuals with bad credit are usually specifically labelled as “bad credit loans”so you are able to distinguish the different type of loans that will be suitable for you. We recommend finding a loan that is much more suited to you instead of just applying for a loan at random as this can further harm you credit score, especially if you are rejected by another lender.

The majority of banks will not offer loans to individuals, researching bad credit loans online will display those direct lenders that offer the type of loan that you are looking for. It is important to apply with a lender that offers loans for people with bad credit as their acceptance threshold is likely to be lower than an lender that only offers loans to people with good credit. By applying with bad credit loan direct lenders you will also be reducing the risk of further being rejected for a loan, something that will again be marked on your credit score.

How do I apply for bad credit loans online?

We are 100% online, making it faster and easier to apply for a bad credit loan. It has never been easier to apply for a loan with Lucky, just simply choose the loan amount that you wish to borrow and complete our 5 minute application form and we will give you an instant online decision. Unlike many UK banks and lenders we do not carry out a credit check or ask for any bank statements, payslips, references or guarantors to give you an initial decision.

What details do we ask for?

  • Address details
  • Monthly Salary
  • Employment status
  • Bank account information

Is the interest rate higher on bad credit loans?

Yes, typically the interest rate on a bad credit loan will be higher compared to a personal loan for someone with a good credit history. This is because individuals with a bad credit history are less likely to be able to repay the loan in full within the agreed repayment dates.

Representative Example

Loans for bad credit come with a slightly higher interest rate and APR, they may also come with different repayment terms. Take a look at our Represntative Example for a bad credit loan, although many different lenders will have different interest rates and APR.

Borrowing: £2,000
Total Repayable: £3,145.20
Interest Rate: 59.9% p.a
Borrowing term: 24 Months

Representative: 39.9% APR – 89.9% APR

Our Promise

We will always provide you with the full cost of your loan upfront so you are absolutely clear on the total loan amount that you will have to pay back before you apply with us. We will never charge you a fee for applying or access your personal information and credit scores, we never have and never will. It is completely 100% free to apply with Lucky Loans and it is our promise that you will never be hit with any hidden fees or out of the blue charges.

Here at Lucky Loans we are passionate about responsible lending, sometimes a personal loan may not be the most suitable option for everyone which is why we will always provide you with advice and guidance on different borrowing options that may be available to you.

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