Likely Loans

Likely Loans personal loans

Likely Loans is so-called because borrowers with less than perfect credit histories may be more more likely to get approved.

A direct lender that’s part of the Oakbrook Finance group, Likely Loans is a new addition to the poor-credit lending market. As one of the few providers that will lend to the financially unfortunate without a guarantor, its rates are high, but that’s to be expected with these kinds of loans. It has a quick and easy application process and can provide funds the day after you apply.

Winner of the “Non-Mainstream Loan Provider of the Year” award from MoneyFacts in 2017, Likely Loans is already making a name for itself. It specialises in small loans, simple applications and improving bad credit, so might be for you if you’ve had trouble getting finance on the high street.

Amigo Guarantor Personal Loan – Get 1 month interest-free

Borrow up to £10,000 within 24 hours with a guarantor

If a limited credit record is holding you back from the money you need, a guarantor loan can be a great option – allowing you to borrow money while building your credit score.

  • Amigo loans will not judge you based on your credit score
  • Loans of £500-£10,000 over 1-5 years
  • Loans normally paid out within 24hrs of the guarantor being accepted

Representative example: Borrow £5,000.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable £8,782.92 in monthly repayments of £243.97.


warning icon Warning: Late repayments can cause you serious money problems. See our debt help guides. is a credit broker, not a lender, for consumer credit products. Our services are provided at no cost to you, but we may receive a commission from the companies we refer you to.

Looking for a loan?

Whether you need £500 to fix the car or £5,000 for a new kitchen, Likely Loans has a good range of personal loans that are tailored to your needs. You won’t need a guarantor, so you can make your next steps independently, and paying on time may improve your credit score for next time.

Key features of Likely Loans personal loans at a glance

These are unsecured loans that cater to people with a bad credit – a rarity in this business – but they do have higher interest than your average high-street loan.

  • 12–60 months.
  • £500–£5,000.
  • Get a personalised quick quote with no impact on your credit rating. By entering a few details on its website, you can find out what Likely Loans can offer you.
  • Fixed monthly repayments. Your contract will set out the monthly and total cost of your loan, and this won’t change.
  • Quick decision. With a small loan, you’ll find out if you’ll be accepted before you even apply.
  • Quick access to funds. The final contract will be available the day after you apply, and the funds are paid into your account the same day.
  • No set-up fees. No set-up fees for both small and larger Likely loans.
  • Repay your loan early at any time. Likely Loans doesn’t charge any fees for early or over-payment, but it will still charge some or all of the agreed interest.
  • Quick and easy application process. Likely aims to make getting finance as simple as possible.

Interest rates are fixed for the duration of your repayment period, but the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.

What is APR?

If you’re comparing any credit-based products, it won’t be long before you’ll come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.

All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.

Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.

Am I eligible for a Likely Loans personal loan?

You should only apply for a Likely Loans personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:

  • You’re a UK citizen
  • You’re over 18
  • You have some credit history
  • You have a bank or building society account
  • You haven’t been bankrupt in the last 12 months
  • You have some form of income (a pension counts)

How can I apply?

If you like the sound of a Likely Loans loan, you’ll need to have your bank details to hand and your passport or driving licence (although it may not ask for this). Then all you need to do is:

  • Go to the likely loans website and fill out the simple online application form.
  • You may be asked for proof of identity, in which case there is a simple method for uploading this.
  • Your application will be processed overnight and you’ll receive your final decision and documents the next day.
  • Sign the contract and the money could be in your account in just a couple of hours.

Frequently asked questions

*Disclaimer: The offers compared on this page are chosen from a range of products whose details Finder has access to track; they don't represent all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The terms "best", "top", "cheap" (and variations) are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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