Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk
If you’re thinking about searching for a loan but are worried that a history of bad credit could hold you back, you might have wondered, ‘what’s the easiest loan to get in the UK?’.
The first thing to bear in mind is that easy to get loans do not exist. It’s not easy to get approved for any loan – and that’s a good thing. All UK-based lenders who are authorised and regulated by the Financial Conduct Authority (FCA) must carry out affordability checks on each applicant before they decide whether to approve an application.
These checks may feel daunting if you have bad credit, but they’re in place to protect you. Lenders have a duty of care to ensure that customers are able to afford to repay any money borrowed.
When you need money in a hurry to pay for an emergency expense, you might think about looking for ‘easy to apply for loans.’
While we have made the Cashflex application form as straightforward as possible, please be aware that there is no such thing as an ‘easy to get’ loan.
Everyone who applies for a loan in the UK must go through a thorough affordability and credit check.
Having good credit could mean that you may be more likely to be accepted for a loan; however, it’s certainly not a guarantee. The lender’s overall decision will be based on a number of factors, including your eligibility for that particular product, your credit score, and how affordable a loan would be for you.
You cannot get a loan without an affordability check in the UK. You should be very wary of any company or individual who advertises ‘easy to get no credit check’ loans, as they could be operating outside of FCA guidelines.
Before you search or apply for a loan, you may wish to check that the company appears on the FCA register.
Every lender will have their own eligibility criteria, which must be met before you apply.
While the criteria varies between lenders, you can apply for a loan if you:
Applying for a loan when you have bad credit can be daunting, especially if you’ve been turned down to borrow credit in the past.
While having a bad credit score could limit your borrowing options, Cashflex works with several lenders who specialise in loans for people with bad credit.
A bad credit loan could come with a higher rate of interest; please bear this in mind before you apply and be sure to carefully consider if this type of loan is affordable for you. In addition to this, you might not be approved to borrow as much money as you need to.
If you’ve never paid bills or borrowed credit before, there’s a chance that you’ll have little or no credit history to show. No credit history is often referred to as having a ‘thin’ credit file and could impact your chances of being approved for credit. This is because lenders have no record of how you’ve managed credit in the past and therefore could see your application as riskier.
This can feel frustrating; you may feel as though you’re being penalised for never needing to borrow credit before.
The good news is that some of the lenders on the Cashflex panel are willing to consider applications from those with thin credit files, although again, you should be aware that ‘easy to get’ loans do not exist.
As we’ve talked about further up the page, it’s important to remember that there are no loans that can be considered ‘easy to get.’
Cashflex is a credit broker, working with a large panel of lenders who offer short-term, personal loans. You can use Cashflex to search for a loan from £100 to £10,000, with repayment terms between 3 and 60 months, depending on the amount of money you apply to borrow.
Some of the lenders on the Cashflex panel are willing to consider applications from people with poor credit or limited credit history.
Cashflex, and all the lenders on our panel, are authorised and regulated by the FCA.
Each of the lenders we work with will be required to carry out an affordability check before deciding whether to enter into a credit agreement with you. This could be in the form of Open Banking or a hard credit search.
Searching for a loan with Cashflex is straightforward.
We’ve detailed the process below, so you know exactly what to expect at each stage of the journey.
1. Tell us how much you’d like to borrow and for how long. Our online form should take no longer than five minutes to complete.
2. In just 60 seconds, we’ll run a soft search with no impact to your credit score and scan our panel of lenders for a loan that could be suitable for you.*
3. If we find you a loan, you’ll be redirected to the lender’s website. If you’d like to make a full application, some further checks, including a hard credit search or Open Banking, will be carried out by that company.
4. If the lender is satisfied with the outcome of their checks, you’ll be sent a loan agreement. Read through the terms and conditions and make sure you’re happy with everything before you decide to sign and return.
5. Your money could be sent the same day your application is approved, although every lender will have their own payout timescale, and the time it takes for the money to become available in your account will depend on your bank’s policies and procedures.
*A soft search will not harm your credit score. If you’re matched with a loan and choose to make a full application with the lender, a hard search will be carried out. A hard search will remain on your credit file for up to 12 months and multiple hard searches within a short period of time could cause your credit score to decline.
Some of the lenders on the Cashflex panel use Open Banking as part of their decision-making process. Open Banking allows you to safely share your recent financial information with a lender, so they have a more accurate and up to date picture of your circumstances.
Sometimes, our financial situation can suddenly change through no fault of our own.
A monthly expense that was once affordable could be affected by things such as redundancy or an unexpected financial emergency.
If you find that you’re unable to afford the monthly repayments on your loan, you should contact your lender as soon as you can.
Your lender is not there to judge your situation. They should listen with empathy and talk you through any options that may be available to help ease the financial pressure while you work towards getting back on your feet.
If you’re experiencing money worries, it’s important to remember that you don’t need to face the burden alone. Money troubles can happen to anyone, at any time; you have nothing to feel ashamed of.
Several charities and organisations offer free, impartial money and debt management advice. We’ve listed a few of these organisations below and have provided links to their website, where you can access further information on a range of financial topics.
Cashflex are proud to have work with charity StepChange to provide a free, confidential Money Health Check quiz, which can be taken online.
All you need to do is answer a couple of questions about your current financial situation. Your answers will generate advice to help you understand your options and will provide you with further support and guidance.
Taking the quiz will not affect your credit score in any way.
Why choose us
Sometimes, the unexpected happens that means you need money fast. Here at Cashflex we offer a user friendly process to help you find same day loans in a responsible and affordable way.
The exact amount you can borrow depends on your personal circumstances and can differ by lender. You can apply for a loan between £100 and £10,000
This is dependent on the amount that you wish to borrow. The repayment terms can be: 3 months, 6 months and 12 months to name a few, ranging right up to 36 months.
Yes. If you are unsure you can use our FastCheck tool to find out your loan eligibility.
Yes.
Try our FastCheck tool with no impact to your credit score
Our tool allows you to calculate your chance of being accepted for a loan.
Check out what our trusted customers had to say.
Representative example: Amount of credit: £1000 for 12 months at £134.94 per month. Total amount repayable of £1,619.26 Interest: £619.26. Interest rate: 99.9% p.a. (fixed). Representative 99.9% APR.
We’re a fully regulated and authorised credit broker and not a lender.