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Poor Credit Loans

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Warning: Late repayment can cause you serious money problems. For more information, go to MONEYHELPER.ORG.UK
Credit subject to status & affordability assessment by Lenders.
Oyster Loan is a credit broker and not a lender

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on any debt secured against it.

Representative APR example

The rate you are offered will depend on your individual circumstances.

All loans are subject to status. The interest rate offered will vary depending on our assessment of your financial circumstances and your chosen loan amount.

Representative APR Example: On an assumed loan amount of £1,000 over 18 months. Rate of interest 59.97% per annum (fixed). Representative 79.5% APR. Total amount payable £1,554.10 of which £554.10 is interest. 17 equal monthly repayments of £86.09, and the final month’s payment of £90.57. .

What Are Poor Credit Loans?

A poor credit loan, otherwise known as bad credit loan, is a special product designed for people who do not have a good credit history. Credit history is an important parameter that is taken into consideration by the lenders to decide whether they want to extend an offer to the borrower or not.

These short-term loans are given for a period of a year or less and the borrower has the flexibility to choose the repayment tenure according to their monthly budget. A poor credit loan is an unsecured credit product that neither requires any collateral nor guarantor. A borrower doesn’t have to invest their time and energy to find a co-signor to avail the loan.

Does Bad Credit Score Require a Credit Check?

A bad credit score is an indicator of your finance management. The lenders assess your credit profile to know how good you are at managing your finances. And on the basis of that, they decide to extend an offer to you. However, there are lenders who are willing to take the risk and that is why they offer urgent loans for bad credit to UK residents based on their affordability.

The financial regulator of the United Kingdom, the Financial Conduct Authority (FCA) has made affordability check mandatory to save the consumers from being exploited against any financial adversity. Therefore, credit checks are essential for a borrower’s own interest. At Oyster Loan, the lenders conduct a soft credit check to assess the loan eligibility and then provide a soft quote. This type of credit check doesn’t leave any footprint on your report that means they do not impact your score. When you borrow a loan from our lenders, you have a chance to save your credit score from any further damage.

Before the final approval, the lenders have to run a hard credit check to ensure the borrower’s creditworthiness.

Do You Need a Guarantor for a Bad Credit Loan?

An unsecured poor credit loan doesn’t require a guarantor. A borrower doesn’t have to find a co-signor to apply for the loan. Many people in the UK opt for quick loans for bad credit, because of their repayment flexibility.. However, lenders who are authorised by the FCA and deals with Oyster Loan understand that a bad credit score may be a result of any financial distress. That is why they assess the borrower’s current repayment affordability rather than giving more importance to their past credit score.

A borrower seeking the best payday loans uk must compare and choose from available poor credit loans to ensure they choose the best suited loan for them. It is difficult to find someone to vouch for your financial liabilities. Hence, apply with us for a  loan for bad credit that is easy to avail.

How to Apply for a Poor Credit Loan online in the UK?

While browsing through various credit products you must have come across poor credit payday loans and poor credit personal loans in the UK. These loans are the same as a bad credit loan. A borrower has the freedom to use the loan amount for any purpose they want, it may be for a boiler repair or a car repair that needs urgent monetary attention. The loan borrowed can be used for any financial concerns of the borrower.

Applying with Oyster Loan for a bad credit/poor credit loan is as easy as ABC.

  • Fill the Form: Our application form available on our website needs to be filled with some details in order to avail a loan. Fill the form with details such as your residential address, office address, current employment, past employment, email ID, date of birth, etc.,
  • Credit Check: Our lenders will verify all the details that have been provided in the application form and then will assess the credit eligibility to make their final decision.
  • Get the Decision: The decision by the lender will be displayed on your screen. This may take a few minutes as every lender has their own ways of conducting a verification process.

After this, the loan amount will be disbursed to your bank account by the lender. It is necessary to read all the Terms & Conditions of the lenders before entering into an agreement. Raise a flag against the points you feel are inappropriate. Discuss with your lender and find out a solution.

Improve your Credit Score Online– With Oyster Loan

Oyster Loan is an FCA regulated loan broker that operates across all the major cities of the UK. The associated lenders offer an array of short-term loans that a borrower may easily avail to deal with their financial emergencies.

Let’s be real – a bad credit score is not a good indicator of your personal finance management. And often, you do not get the best rates due to it. In order to improve your score, you need to work on it constantly. Repaying your loan on time regularly may improve your credit score gradually. Remember, the higher your credit score is, the more likely it is for you to find loans with a comparatively low-interest rate. Improving your credit history will require time, dedication and patience. Read about how to build your credit score.

We strive to help our borrowers to find the loan for their financial necessities. We are on a mission to reinvent the unsecured lending industry of the UK by promoting fair industry practices and enhancing transparency.


WARNING: Late repayment can cause you serious money problems. For more information, go to MONEYHELPER.ORG.UK.

Credit subject to status & affordability assessment by Lenders.

Oyster Loans is a credit broker and not a lender.

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on any debt secured against it.

Not all borrowers will qualify for a loan. The operator of this website does not engage in any direct consumer lending, we simply provide you a FREE loan brokering service. This means we don’t charge customers a fee for using our introducer services, but we receive a commission from lenders or other brokers if a customer enters into a consumer credit agreement with them following an introduction by us.

photo of Oyster Loan Oyster Loan
Oyster Loan
71-75 Shelton Street
Covent Garden, WC2H 9JQ United Kingdom £100-£35000
+44 203 633 1699
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