Instant Loans No Credit Check *

Get between £50 - £5,000 paid out by

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  • 100% Online Process

  • Borrow up to £5,000

  • UK Based Lenders

  • Bad Credit Accepted

  • 2 Minute Application

  • Same Day Transfer

  • Representative Example: Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable). *HappyPenguin will not perform a credit check but lenders will determine your loan eligibility by performing a soft search. If you accept the loan offer presented to you, a hard credit search will be performed.

    Is it possible to get an instant loan with no credit check?

    Life is full of surprises, but not all of them are good.

    A surprise birthday party, finding some extra cash in an old jacket, or a romantic gesture from a loved one are all examples of great surprises. Discovering that you need to pay for a bill when there’s no money left in your bank account doesn’t fall into that category.

    If you don’t have a friend or family member who can help you out with a few extra pounds, your only option may be to turn to a loan so that you can pay critical expenses on time. Unfortunately, if you don’t have the best credit rating, that could be easier said than done.

    Even if you’re working on improving your financial standing today, a poor credit history could convince a traditional lender not to give you the money that you need.

    It’s no wonder customers start searching for online loans that come with no credit check to worry about.

    However, “no credit check” loans might not be as simple as you think.

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    What is a Credit Rating?

    Whenever you apply for a loan, either online or offline, the company that you apply for will need to check your financial history. They do this by looking at something called your “credit report.”

    In the UK, a group of three credit agencies collect information about how you use and borrow money for this credit report over time. You don’t need to have taken out numerous loans to have a credit report. You’d be surprised how many things can leave a mark on your history.

    By looking at how well you paid back other forms of credit, like card bills and instant loans in the past, future lenders can decide whether you’re a good investment or not with a new loan. If you’ve got a good credit score, you should be able to get better interest rates, longer terms, and even the option to borrow more money. On the other hand, if your credit rating isn’t perfect, then your lender might want to avoid giving you the money you need altogether.

    Your credit rating has an impact on your life in many different places. It’s not just there when you’re looking to get a quick cash advance. Your credit report also dictates whether you’re approved to rent a home, and it can even show up when you’re applying for a job too.

    Getting Flexible Funding Online

    So, what do you do if you know you don’t have a great credit rating, but you need to borrow money for an emergency? Online loans with no credit check may seem like the only option. After all, if you could only hide your history from your credit provider, you might be able to convince them that you’re a good risk based on your current behaviour.

    Unfortunately, lending opportunities in the UK don’t quite work that way. Even if you do manage to find a loan provider that offers money without a credit check, working with them could put you and your future at risk.

    The Financial Conduct Authority, or FCA, requires all loan providers to conduct credit checks when they’re processing a loan. This means that anyone who doesn’t conduct a credit check isn’t working within the rules and regulations of the FCA. That puts you at risk of falling victim to unscrupulous behaviour. Fortunately, just because you can’t get a loan with no credit check safely, doesn’t mean that you won’t be able to get the cash advance that you need.

    Instead of wasting time looking for unsafe lenders, it’s best to focus your efforts on finding an instant bad credit lender instead. This means finding a company that doesn’t just look at your credit score when deciding whether to give you money.

    A bad credit lender will take your credit situation into account, along with other things like your income, expenditure, and employment history. This gives you a higher chance of being approved for your loan, and a reduced risk of unnecessary marks on your credit history.

    Applying for a Loan with Poor Credit

    If you’re looking for an online loan and you don’t have the best credit, you’re going to need a strategy.

    First and foremost, look for companies that can give you an insight into your chances of approval for a loan, without leaving a mark on your credit history. Some companies may be able to conduct a “soft check” on your credit report before taking your request to the next stage. This gives them a basic overview of your information, without telling anyone else that they’ve been browsing through your files.

    Secondly, avoid applying for loans that are obviously reserved for people with good credit ratings. You’re probably not going to get the top of the line deals from a loan provider if your credit isn’t perfect.

    When you do apply with a instant loan provider, it’s also helpful to do a little research and make sure you’re doing everything you can to improve your chances of success. For instance, most applicants for online loans must:

    • Be over the age of 18
    • Be a legal citizen of the UK
    • Have a current account to acquire money
    • Be employed in a full-time job
    • Be free from other active loan balances

    Different companies have unique eligibility requirements in place. Check what the best organisations ask for before you begin your application.

    Strengthening your Credit Score

    If you’re concerned that your only way forward in the future will be to look for dangerous online loans with no credit check, you can always start taking steps to improve your credit rating. Although this process might not help you for your immediate online loan, it should improve your chances of success in the long term.

    A few things you can do to improve your credit rating include:

    • Commit to paying all bills on time: The more punctual you are, the better. If it helps, set up automatic payments and direct debits to make sure that you’re never falling behind on your payments.
    • Check your status on the electoral roll: Most people don’t realise this but being on the electoral role makes it easier for credit agencies to confirm your identity. This will improve your chances of getting the credit you need.
    • Pay your debts: Paying your debts on time is just the first step; you also need to deliver the money you owe to your lenders in full. Don’t take out any online loans or offline cash advances unless you know you can pay them off ultimately.
    • Avoid too much credit at once: Applying for too many bank loans and credit cards at once can make you look desperate. The more rejected applications you have on your file, the worse your situation looks to future lenders. Stick to bad credit loan requests to improve your chances of success first-time around.
    • Close any unused accounts: Sometimes, your credit history can get cluttered up with unused accounts. These idle file entries may be working against you, so shut down anything that you’re not using.

    How Does Happy Penguin Compare?

    Why Use HP?
    What's the max loan amount?
    Up to £5,000
    No hidden fees.
    Is approval instant?
    Yes, immediate.
    On Screen Decision
    Poor Credit Possible?
    Yes. Bad credit too.
    All considered.
    Same day transfer?
    Within the hour!
    Direct to bank!
    Flexible Repayment Dates?
    Flexible terms.
    Quick and easy.

    Can You Get Loans without a Credit Check?

    Whether it’s a payday loan advance or a personal loan, no lender in the UK should ever offer you a cash advance without a credit check. Failing to examine your financial history before giving you your money would put a lender in breach of financial regulation rules. There’s a good reason that these guidelines are in place – and it’s worth remembering that they’re there to protect you.

    If your loan provider ignores the rule of performing a credit check, they may also ignore other requirements that are crucial to your safety. For instance, the FCA also regulates the amount of interest a lender can charge, the number of times a loan can be rolled over, and more.

    Many UK consumers think of the strict regulatory environment of online loans today to be a problem – particularly if they have a bad credit rating. However, the truth is that the guidance of the FCA is there to keep you and your money safe. Without it, the world would be full of unscrupulous lenders.

    Getting your Online Loans

    Fortunately, whether you have a bad credit history or not, there are online lending opportunities out there for everyone. Successfully getting the money you need doesn’t have to mean avoiding credit checks or working with dangerous lenders.

    All you need to do is find a provider who is willing to consider your current situation, as well as your past. Dealing with a bad credit provider of online loans is an excellent way to boost your chances of a successful application, without taking unnecessary risks. When you’re looking for the right company to give you your online loan, make sure that you search for someone that approves people with bad credit too.

    You should be able to find details of a lender’s approach to bad credit lending when conducting your loan comparisons.

    Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Happy Penguin is a broker, not a lender, and does not make credit decisions.