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Representative 79% APR

Representative example: Amount of credit: £1200 for 18 months at £115.73 per month. Total amount repayable of £2083.18 Interest: £883.18. Interest rate: 79% pa (fixed). Representative 79% APR. Rates between 9.3% APR to Maximum 1721% APR

The Money Shop is a registered trading name of New Horizons Finance Limited, which is an Appointed Representative of Flux Funding Limited, who are a credit broker not a lender. Loan repayment terms are between 3 and 36 months.

Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.

No guarantor loans from £50 to £5,000

Getting a loan can be a tiresome and tricky ordeal, especially if you have a poor credit history. While there is the option of guarantor loans, many people don’t have or don’t want a guarantor. So, what can be done? Well, that’s where a no guarantor loan can bridge the gap.

Below you’ll find all the information you need about applying for no guarantor loans. At The Money Shop, our broker partner offers access to a wide range of loans of varying types. Using this guide, you will be able to identify whether a no guarantor loan is a right choice for you.

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What is a no guarantor loan?

When you choose a no-guarantor loan, you are choosing to be solely responsible for repayments. You can apply for a no guarantor in a matter of minutes and have a preliminary decision soon after, and smaller loan amounts can be made on the same day in some circumstances. No guarantor loans are flexible and allow you to repay over a period that suits you (typically 3-36 months). Even if you have a bad credit history, you may still be eligible for a no guarantor loan, and you can use the loan for anything you wish. While you won’t have to pay unexpected or hidden fees, these loans will require you to make regular repayments, as with every other loan setup.

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Your questions, answered

How much can I borrow?

A no guarantor loan ranging from £50 to £5,000 is an attainable and realistic expectation. Though you’re unlikely to find a loan in this category that will exceed £5,000, you can certainly apply for a loan to pay off bills without a guarantor.

If you need to borrow a larger sum of money, you will usually have to submit more information about your earnings. No guarantor loans are a speedy, convenient solution to borrowing money, and at The Money Shop, our broker partner makes it a simple application process.

How can I get a no guarantor loan?

At The Money Shop, our broker partner has a panel of lenders who offer these loans for those who need extra cash. If you don’t like the idea of getting a third party involved as a guarantor, it could be time to consider one of these loans for your needs. To apply for a no guarantor loan, you need to complete an initial loan application. The process is very simple and involves: 

  • Enter your details to begin the assessment.
  • Think about the amount of money you’d like to borrow and whether it is affordable.
  • Apply for the loan.
  • Wait for approval and the money to land in your bank account.

As you can see, the process of taking out a no guarantor loan isn’t time-consuming. You can access the best options for no guarantor loans right here at The Money Shop and begin the process of applying for one now. You will need to prove that you can afford to pay the loan back through a formal application process. When taking out a no guarantor loan, you must remember that it is your responsibility alone to repay the money. If you fail to make your repayments on time, this could hurt your credit score, making it more difficult to borrow money in the future. You must review the terms and conditions of the loan before agreeing to take it out.

What are the benefits of a no guarantor loan?

For those who have tried to apply for a bank loan, a no guarantor loan can be a suitable alternative. If you have unexpected bills on the horizon or a car MOT to pay for, we can assist. If you have a poor credit history, or perhaps you can’t find a suitable guarantor to guarantee your repayments. Whatever your circumstances, there are loans available that you may be eligible for.

You can also choose to borrow a larger amount for a more significant financial outgoing, such as an event, a new car or even home improvements. If you’re looking to take out a no guarantor loan in the UK, the good news is that there are many lenders to choose from via our broker partner.

Do no guarantor loans have high-interest rates?

It’s always sensible to remember that you may have to pay higher interest without the safety net of someone to step in as a guarantor. Lenders will usually charge higher interest because they take a higher risk when lending to an individual with a poor credit history.

Am I eligible for a no guarantor loan?

To be accepted for a no guarantor loan, you will need to demonstrate that you have a regular income, be aged between 18-74 years, are not bankrupt, live in the UK and agree to a credit check. Finding a loan without a guarantor can be challenging, especially if you don’t have a credit history.

Many no guarantor loan providers give an instant decision. Most smaller loans can be sent on the same day. All no guarantor loans are subject to interest with varying representative APR rates. Therefore, you must carry out your research before agreeing to a loan, as you need to be sure you can afford your repayments.

How The Money Shop's no guarantor loans can help

The Money Shop’s broker partner can point you in the direction of finding a suitable no guarantor loan, whether you have an unexpected car repair bill or you need cash to get you through tough financial times. When you use their services, you’ll be able to easily review and compare loans to get an idea of which one suits your needs best. They make it quick and convenient to find a no guarantor loan and include all the details you need. 

Once you have assessed whether a no guarantor loan is right for you, you can make an application. Whether you need to borrow £500 or £5,000, a no guarantor loan could be the best way of getting you the money you need.

Looking for alternative lending options?

If you’re looking for alternatives to no guarantor loans, there are several options available to you. For example, a credit card, borrowing money from friends and family or arranging an overdraft with your bank. When you take out any type of loan, it’s always important to think about the long-term situation. Can you afford the repayments? Are the interest rates on the loan reasonable? 

At The Money Shop, our broker partner is dedicated to helping customers looking to take out a loan. You can visit our website to learn more about the different loans on offer and how you can benefit.

How much money do you need to borrow?

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100% secure online application process

Money can be sent today

Check eligibility with a Soft Search

Thousands of loans found every month