Loans like Likely Loans

Likely Loans specialises in offering loans to those with a less-than-perfect credit history.

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

Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.

Will you be approved?

Check your personalised rates and likelihood of acceptance.
NameRepresentative APRLoan amounts
Likely Loans Personal Loan Likely Loans Personal Loan 59.9% £500.00 to £5,000.00 Check eligibility
UK Credit Limited Unsecured Homeowner Loan UK Credit Limited Unsecured Homeowner Loan 26.9% £3,000.00 to £20,000.00 More info
Bamboo Personal Loan Bamboo Personal Loan 59.7% £1,000.00 to £8,000.00 Check eligibility
Trusttwo Trusttwo (Homeowner Guarantor) Personal Loan Trusttwo Trusttwo (Homeowner Guarantor) Personal Loan 36.9% £1,000.00 to £15,000.00 More info
Trusttwo Trusttwo (Tenant Guarantor) Personal Loan Trusttwo Trusttwo (Tenant Guarantor) Personal Loan 36.9% £1,000.00 to £15,000.00 More info
Amigo Guarantor Personal Loan Amigo Guarantor Personal Loan 49.9% £1,000.00 to £10,000.00 More info
Savvy Personal Loan Savvy Personal Loan 319.5% £300 to £3,000 More info
Everyday Loans Personal Loan Everyday Loans Personal Loan 99.9% £1,000.00 to £15,000.00 Check eligibility

How do specialist lenders work?

For those who feel let down by mainstream lenders, either because they don’t meet eligibility criteria or because their credit history is less than perfect, specialist lenders including Likely Loans (named to suggest a better likelihood of approval) can provide invaluable access to finance.

You don’t have to be a homeowner or have perfect credit to get approved for its loans, and soft-searching processes mean that you can find out whether or not you’re eligible without affecting your credit record.

With an emphasis on building or rebuilding a positive credit history, specialist lenders typically assess applicants on how affordable a loan would be rather than on their credit rating.

The downside, however, is that due to the higher risk these loans represent to the lender, realistically, interest rates are likely to be significantly higher. To reduce risk levels, some lenders will ask for a guarantor – that’s a friend or relative of the borrower (who typically needs to have good credit) who promises to step in if the borrower fails to make a repayment on time.

Alternative lending

There are a few innovative new lenders such as Tappily, that offer alternative takes on short term borrowing for less-than-perfect credit scores. Tappily was primarily designed to help people avoid expensive unauthorised overdraft fees.

Tappily

Get up to £2,500 when you need it with Tappily

  • Get ongoing access to a flexible line of credit
  • Helps you to avoid expensive overdraft fees

Representative example: Amount of credit: £1,200. Interest rate: 0.34% per day for up to 75 days (25.5% (variable) per annum). Representative 49.7% APR (variable).

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