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A wise guide to…

£1000 loans.

Whatever the emergency, the £1000 needed to solve the issue is often not readily available. If you’re in a tight spot and looking to borrow money, compare your options first with Choose Wisely.

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No obligation. 100% secure.
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Representative 69.9% APR (variable). Representative Example: If you borrow £1,500.00 over 24 month at a Representative rate of 69.9% APR and an annual interest rate of 54.19% (fixed), you would pay 23 monthly repayments of £103.64 and a final payment of £103.74. The total charge for credit will be £987.46 and the total amount payable will be £2,487.46.
Choose Wisely is a trading style of Choose Wisely Limited and is a free to use price comparison website. Choose Wisely Limited is authorised and regulated by the Financial Conduct Authority as a credit broker not a lender, firm reference number 730574 and is registered with the Information Commissioner’s Office number Z3106681.

A quick, easy way to get a 1000 loan today.

  • Borrow from £300 to £10000.

  • Choose between lenders who have accepted your application.

  • Absolutely no fees, ever.

Representative 69.9% APR (variable).

How to get a 1000 loan in 3 simple steps.

Affordability assessment.

1 form - takes 2 minutes to complete and your data is 100% secure.

Compare products.

Choose from lenders that have accepted your application.

Speedy finance.

If approved, the cash can be in your account in as little as 15 minutes.[†]

Table of contents

Written by Andrew Freelander
Read time: ~5 mins
Published: 20th July 2018 Updated: 9th September 2020

If I borrow £1000 do I have to pay it back over 3,6 or 12 months?

If you are approved for a £1000 loan from a direct lender, how much you have to repay and when, will be outlined in the agreement that is provided to you before the loan is finalised. This agreement will cover the individual repayments you are expected to make, including any interest. Although terms will vary and be dependent on your personal circumstances £1000 pound loans are often repaid in 12 months or less.

I have poor credit, can I get a £1000 loan with no guarantor?

There are a number of lenders that will consider those with poor credit, and don’t require a guarantor to support the application. Due to the increased risk of lending to someone who has a CCJ or history of missed payments, without a guarantor, if approved the amount you will be offered is likely to be small and the interest rate high.

Can I get a £1000 payday loan with bad credit?

If you have a bad credit history or have limited income you do still have options when it comes to obtaining credit. Choose Wisely works with a diverse panel of lenders that caters for applicants with all types of credit history. If you are unsure where to start or what lenders may be suitable for you, the best place to start is with a Choose Wisely loan search.

Am I able to apply for £1000 with no credit check?

As part of completing an application with a direct lender you will almost certainly be credit checked. This is so the lender can fully understand your circumstances and history of managing credit. A credit check plays a vital role in ensuring you can afford the loan and wont put yourself under increased financial pressure by trying to meet the repayments.

What are the advantages of using to Choose Wisely rather than going straight to a direct lender?

Choose Wisely is a free to use price comparison website. Here’s why you should use Choose Wisely before applying with a direct lender:

  1. Find out who will accept your application in principle before you get credit checked by your chosen lender

  2. Be in control and compare suitable lenders for your circumstance.

  3. Lenders for all types of credit history

  4. 100% free

  5. FCA authorised

Are there other ways to borrow £1000?

Perhaps the cheapest way to borrow £1000 is to ask family or friends if they can lend you some cash? They might be able to help you out or offer an alternative solution, like offering lifts if your car needs fixing.

£1000 loan FAQs

Is it free to use Choose Wisely to find a £1000 loan?

Yes. Choose Wisely may receive a commission when you successfully get a loan through Choose Wisely. This means we can maintain the website without charging you a penny.

What is the minimum criteria to apply to borrow money today?

Each lender will have their own criteria when it comes to deciding whether or not to lend you. As a minimum you will need to be at least 18 years, receive a regular income (employment or benefits) and be able to demonstrate you can meet the repayments.

Can I get a credit card for £1000?

Depending on your score, you might be able to get a credit card with a £1000 credit limit but these tend to be more suitable for those with a fair to good credit score. Credit cards typically have a smaller APR rate than bad credit loans but can be very expensive if you miss your monthly minimum repayment or only ever repay the interest, meaning your balance never gets paid off. A credit card could be a more suitable if you're looking for small amounts such as £100.

Written by
Andrew Freelander
Brand & Content Manager at Choose Wisely

Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. Most notably he worked with the Consumer Finance Association to design the comparison table of choice for High-Cost Short Term Finance products.

The quickest way to find the best 1000 loan for you.

No obligation. 100% secure.

Important Information.

All of the information in this guide is correct at the time of writing.

Rates shown are quotes based on your personal circumstances, are subject to status and are available to those aged 18 and over. Rates available range from a minimum of 3.9%APR to a maximum of 1575%APR Representative and loan repayment periods range from 3 to 60 months.

[*][†] Once accepted, your loan can be transferred to you in as little as 15 minutes. The time that it takes for the loan to show in your bank account will depend on your lender and your bank.

If you need financial advice you can visit stepchange, speak to citizens advice, call the national debtline or speak to moneyadviceservice.org.uk.

If you've been declined, please refer to your credit report to gain an understanding of why before making further applications.
Your score can be accessed for free via any of the main credit reference agencies such as Credit Karma, Clearscore or Experian.

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