Spend in hours, not poundsDownload our new 118M8 app Spend your hours wisely
Representative example: Amount of credit £2,000 for 24 months. Interest rate: 41.2% pa (fixed). 24 scheduled monthly payments of £123.64. Total amount payable: £2,967.43. Representative 49.9% APR.
If you’re searching for very bad credit loans with no guarantor from a direct lender, you’re likely trying to avoid two things: being passed from lender to lender, and relying on someone else’s credit profile to support your application.
118 118 Money is a direct lender. That means we make our own lending decisions. We also offer an eligibility check so you can see if you’re likely to be accepted before you apply, without affecting your credit score.
A guarantor loan typically asks someone else to promise they’ll repay if you can’t. For many people, that’s not practical. With 118 118 Money, you can check eligibility and apply in your own name, without needing a guarantor.
Keep it simple. No asking friends or family to co-sign.
Know where you stand. Eligibility check helps you avoid unnecessary applications.
One lender. As a direct lender, we don’t act as a broker passing your details around.
Different lenders use different criteria. You might feel you have very bad credit if you’ve had missed payments, defaults, a CCJ, or you’ve been repeatedly declined. Even if that’s your situation, you may still be eligible for a loan if the repayments are affordable and you meet our criteria.
We’ll always carry out checks as part of the process. Credit is subject to status, affordability, and credit checks. Terms and conditions apply.
If you want to avoid brokers and reduce the chance of making multiple applications, start with our Eligibility Check. You’ll see whether you’re likely to be accepted before you apply, and it won’t affect your credit rating.
You may still be eligible depending on your circumstances. We look beyond your credit score and assess affordability and other factors. You do not need a guarantor to use our eligibility check.
No. Our eligibility check is designed to help you understand if you’re likely to be accepted without impacting your credit score.
A direct lender makes the lending decision and provides the loan. This is different to a broker that may send your details to multiple lenders.
If accepted and once everything is set up, funds could be received in 15 minutes. This can vary from 15 minutes to 2 hours depending on your bank.
Start with the eligibility check to see if you’re likely to be accepted, without affecting your credit score.