Direct Lenders

There are a variety of direct lenders in the UK, offering a range of different products designed for applicants with varying needs and circumstances. You may be looking for a small cash loan to tide you over till your next payday or a larger amount to fund things such as home improvements or a new car. Whatever your needs and whatever your credit history, Choose Wisely can help.

Can I get a loan with a UK direct lender with no credit check?

When applying for any type of loan with a UK direct lender you will almost always be subject to a credit check. This is an integral part of the loan application process as the credit check allows lenders to assess how you’ve managed loans and credit in the past and decide whether you can comfortably afford to repay the loan you’ve applied for.

When searching for a loan you can limit the impact to your credit file by not making multiple applications to numerous direct lenders in a short space of time. By completing a loan search on Choose Wisely you will be able to see who will accept your application in principle before you apply direct.

I have no guarantor can I still get approved with a direct lender?

There are plenty of direct loan providers out there that don’t require you to have a guarantor to support your application. The flip side is that a high number of these lenders will require you to have a decent credit history or will only offer small loan amounts, often at a higher price.

If you do have a bad credit history then it's worth considering asking a suitable friend or family member to be a guarantor for your application. This will likely increase the chances of your application being accepted due to the added security of your repayments being met. For this reason you may be offered a lower rate and it could work out a cheaper option in the long term than repeatedly relying on shorter term credit.

Before you ask someone to be a guarantor it’s vital you understand what you are asking them to sign up to. A guarantor is someone who guarantees your loan repayments.If you fail to make your repayments, the lender will expect your guarantor to step up and pay. Becoming a guarantor is therefore not a light decision and should be discussed together in depth before any commitment is made

Can I get a direct loan if I have very bad credit?

If you are thinking of applying for a direct loan with very bad credit, your options will be limited. Your best choice in this situation if you want to to borrow money is likely to be if you have a guarantor to support your application.

You can use the Choose Wisely loan search to find out what direct lenders will accept your application in principle based on the application details you submit and a soft credit check. This won’t affect your credit file and saves you from having multiple hard credit checks on your file which could impact your future borrowing.

If you do have a very bad credit history, before you submit a full application with a direct lender, think about if you really need to borrow. Could you instead borrow money from friends and family.

Why shouldn’t I go to a direct lender without using a broker?

You can choose to go to a direct lender with no broker but there are a lot of advantages using a broker or comparison site like Choose Wisely to find your loan; especially if you have a bad credit rating. Using Choose Wisely you can not only compare lenders across the market but also find out who will accept your application in principle before you apply. This removes the guesswork resulting in you making less applications and saving your credit file from being marked with continuous credit checks.

With Choose Wisely it’s easy to compare your options with our search tool. The form only takes two minutes to complete and once you’ve submitted your application, we match you with the lenders who are most suited to what you are looking for. The Choose Wisely service is completely free and, if you do decide to apply with a direct lender and are approved you could have cash in your account in under an hour.

Direct Lender FAQs