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

No credit check same day loans

While you can’t get a loan without a full credit check, you could still be considered for a loan, even if you have bad credit. If your application is approved, your money could be sent the same day.*

Your car has failed its MOT and needs urgent repairs. You’re asked to pay the garage upfront, but your savings fall short. You need your car back on the road as soon as possible so you can commute to work.
With a history of poor credit, you’re worried that searching for a loan might be a waste of time. You wonder whether you could get a no credit check loan.

Please be aware that you can’t get a loan without a full credit check, but you could still be considered for a loan, even if you have bad credit.
Growing Power is a credit broker, and we work with a panel of lenders who offer short-term personal loans between £100 and £10,000. Some of the lenders on our panel are able to send your money on the same day as your application is approved.*

What’s a same-day loan?

As the name suggests, a same-day loan is when a lender approves your application to borrow credit, and the money is sent to you the same day.
While a same-day loan is possible, it’s important to understand that it’s not a guarantee. The time it takes for the money to appear in your account will depend on your bank’s policies and procedures.

What’s a no credit check loan?

A no credit check loan would be described as a sum of money provided by a lender, which is obtained without you having to undergo a credit check.
No credit check loans are not legal in the UK. The Financial Conduct Authority (FCA) requires all authorised and regulated lenders to carry out a creditworthiness assessment on anyone who applies for credit.

Can I avoid a credit check?

No, it’s not possible to avoid a creditworthiness assessment when applying for a loan. As discussed, responsible lenders must carry out a creditworthiness assessment in-line with FCA guidelines.

No credit check same-day loans

You should think very carefully before sharing your personal and financial information with any company claiming to offer no credit check loans. A good starting point is to ensure that the lender or credit broker you’re dealing with appears on the FCA register. If they don’t and you decide to make an application, you should be aware that you will not be protected if something goes wrong.
Remember, a creditworthiness assessment is in place for your protection.

Why is a credit check so important?

If you’re searching for ‘no credit check loans’, it’s possible that you’re concerned about your credit score.
We understand that undergoing a credit check can feel really daunting, particularly if you’ve been denied credit in the past. Having your application for credit rejected when you need money urgently can be worrying and disheartening.

Lenders carry out a creditworthiness assessment to give them an idea of how likely you are to be able to repay the money you’re applying to borrow. Lending money to somebody who can’t afford to repay it is irresponsible and could have implications for both the lender and the borrower.

Falling behind on or missing your monthly repayments could result in you being charged additional fees, and your credit score will decline. You could also be at risk of getting into a spiral of debt.

Can I get a bad credit same-day loan?

Many of us lack confidence in our credit score.
Finding a lender willing to consider your application when you have poor credit can be challenging, although there are several lenders - including a number of those on the Growing Power panel - who specialise in loans for people with bad credit.

A bad credit loan could come with a higher rate of interest. Before you apply, you should consider how this will affect your monthly repayments. When repaying your loan, you should never be left in a position where you’re unable to cover the cost of your essential outgoings, such as mortgage or rent, and bills.

If you decide that a bad credit loan is suitable for you and your application is approved, your money could be sent today. Again, please note that this doesn’t necessarily mean that your funds will be available in your account right away – this will depend on your bank’s policies and procedures.

Could I get a no credit history loan without a credit check?

You cannot get any type of regulated loan without a creditworthiness assessment.
As part of their creditworthiness assessment, a lender will look at any past credit commitments and how they have been handled. A history of borrowed credit being repaid in full and on time could increase your chances of being accepted, although various other factors, such as your affordability, will also be taken into consideration.

If you’ve never borrowed credit or paid bills in your name before, there’s a chance that you may have no credit history. This is also known as having a ‘thin’ credit file.

It can be frustrating to learn that a thin credit file could negatively affect your chances of being considered for a loan. With no evidence of your ability to manage credit, you may encounter issues when applying for a loan.

Growing Power is proud to work with a handful of lenders who are willing to consider applications from people with no credit history. Like a bad credit loan, a no credit history loan could come with a higher interest rate.

What checks will be carried out when I apply for a loan?

Growing Power uses soft search technology to help you search for a suitable loan. A soft search will not affect your credit score and will not leave a visible mark on your credit file.

If we’re able to match you with a loan and you choose to make a full application with the lender, they will complete a creditworthiness assessment, which will include either a hard search or Open Banking. We’ve included some details about each type of search below.

  • A hard search
    A hard search provides lenders with an in-depth insight into your credit history and will remain on your credit file for up to 12 months. Multiple hard searches on your credit file within a short period of time will have a negative impact on your credit score.

  • Open Banking Open Banking is a procedure carried out by authorised third-parties, such as a lender. Once you’ve given your consent, the lender will be able to access your online bank account and assess your recent financial activity.

Will improving my credit score increase my chances of getting a same-day loan?

When you apply for a loan, lenders will look at the following information:

  • Your credit score.
  • Your credit history.
  • Your monthly income and outgoings.
  • Your employment status.

Improving your credit score could help to increase your chances of being considered for a loan, although as mentioned above, it’s crucial to understand that a range of influences contribute to the lender’s decision.

How to improve your credit score

  1. Register to vote.

  2. Familiarise yourself with your credit report and make a habit of checking it for any errors or outdated information.

  3. Pay your bills and any current credit commitments on time.

  4. Do you have a credit card? If so, avoid using it to withdraw money from a cash machine and stay well within your credit limit.

What happens if I can’t repay my same-day loan?

If you’re finding it difficult to repay your loan, you should contact your lender. There may be things they can suggest to help ease some of the pressure during this challenging time.

You should try to get in touch with your lender as soon as you feel like you might make a late repayment or miss one altogether; don’t wait it out in the hope that the problem will go away. The sooner you ask for help, the sooner you can work towards getting your finances back on track.

I need help with my finances; who can I speak to?

If you’re concerned about money or debt, you can reach out to one of the following organisations for free, confidential support and advice: StepChange, MoneyHelper, Citizens Advice, and National Debtline.


*The time it takes for the money to appear in your account will depend on your bank’s policies and procedures.

Representative example: Amount of credit: £1000 for 12 months at £123.40 per month. Total amount repayable of £1,480.77 Interest: £1000.00. Interest rate: 79.5% pa (fixed).79.5% APR Representative.

Rates between 15% APR and Maximum 1733% APR. Loan term lengths from 3 to 60 months. There are no fees for our service.

Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
79.5% APR Representative.
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