What we cover in this guide
- Can I get a secured loan with bad credit?
- What is a bad credit secured loan?
- What are bad credit secured loans suitable for?
- How much can I borrow with a secured loan if I have bad credit?
- What bad credit is acceptable to obtain a secured loan?
- Are secured loans the best option for people with bad credit?
- How much does a bad credit secured loan cost?
- Bad credit secured loan brokers
- Bad credit secured loans FAQs
Can I get a secured loan with bad credit?
Getting a secured loan with a bad credit history is possible and we have helped many people to do so.
Typically, approaching mainstream high-street lenders can make it very difficult to get accepted. However, the outlook is not all bad as there are a range of specialist lenders available. These lenders tailor their products to individuals who have experienced bad credit. Therefore, for many, applying with them can heavily increase your chances of success.
When deciding if a secured loan is the best solution for you, you’ll need to take a good look at your requirements. Ensuring you are in a position to take on more credit is essential, otherwise, your history could be further damaged.
At The Mortgage Centres we have access to the whole of the UK lending market. We aim to identify the most favourable and competitive deals when we source loans. If you want to find out what secured loan options are available to you, get in touch today.
Bad credit secured loans FAQs
- Can I get a homeowner loan with bad credit?
- Can I get a homeowner loan without a guarantor if I have bad credit?
Yes, it is possible. We handle loan applications and liaise with a range of specialist lenders for people with bad credit events on their history on a routine basis.
A lot will depend on the severity of their bad credit history. Please note that short-term loans like payday loans may actually do more harm to your credit rating than good, even if they are paid in full and on time.
It very much depends on your individual circumstances, and the credit issues you may have had in the past.
It can be difficult to obtain an unsecured loan without a guarantor due to the levels of risk the lender will perceive. Most unsecured loans that take bad credit into account are offered with guarantors. The rule may not always apply in cases where the loan is connected to a secured loan or mortgage. This is because the rules for guarantors are different in these situations.