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

Personal Loan Bad Credit

Are you searching for a  personal loan? Take a look at our list of lenders who can provide you with a loan for £1,000 even if you have a less than perfect credit history. We can help you find the right lender that is able to offer you a unsecured loan at the lowest interest rates.

when looking for a 1,000 pound loan your options will be very different to those who are searching for a small “payday” loan but there is just as much options available for yourself.
All our guarantor lenders are able to provide you with a loan amount for £1k or more.

Applying For A Small Personal Loan

Guarantor loans generally considered to be a small personal loan, they can vary between £1000 and £15,000. Although our research shows that the demand for these types of loans are lower than that of payday loans there are still plenty companies out there who are available to provide you with a loan at a competitive rate. With Guarantor loans those who are considered to have bad credit are sill able to take out a loan with the aid of a guarantor.

Loans for £1000 are often loans that are taken out over a longer period of time; usually the minimum period for 12 months. This means you are able to spread out your repayments giving you more flexibility with your payments. For a typical loan of £1,000 your monthly payment terms could stretch up to a maximum of 7 years, as a general rule of thumb its important to note that the longer you take to repay the loan the more interest that is paid over the length of the loan. We would always suggest for yourself to spread out your £1,000 loan over the shortest period of time factoring in any other commitments to lower your overall payments.

Loans For Bad Credit

Most mainstream lenders would find it very difficult to lend to those with a bad credit history but the benefit of taking out a guarantor loan is that your nominated guarantor is a added form of security for the lender entail making it easier to be accepted for a loan of £1,000 or more.

If you are looking for a £1,000 loan poor credit may not necessarily be an issue but you need to ensure that you are able to provide a guarantor for the lenders, but if you have had more serious debt problems very recently, you might find it difficult to get approval from a mainstream lender.

All our lenders will give you an representative example on the loan options that are selected; this will include the loan amount ie £1,000  and the duration that the loan is too be taken out for. Example show below;

“Representative Example: Borrowing £1000 over 12 months, repaying £102.50
per month, total repayable £1230.00. Representative 48.3% APR (variable)”

 

WARNING: If you need a loan for £1,000 for the same day to cover bills and are struggling to keep up with payments, This can seriously cause you more money problems. For help, go to moneyadviceservice.org.uk or charity’s like StepChange rather than taking out loans to cover other loans.