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A wise guide to…

Direct Lenders

We all experience difficult financial situations throughout our lives and at times may need to borrow money. If this is the case, Choose Wisely makes finding the best direct lender for your needs a simple and pain free process.

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No obligation. 100% secure.
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Representative 99.8% APR (fixed). Representative example: If you borrow £500 over 52 weeks at a Representative rate of 99.8% APR and an annual interest rate of 99.8% (fixed), you would pay 52 monthly instalments of £13.41. The total charge for credit will be £197.32 and the total amount payable will be £697.32.
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 direct lender today.

  • Borrow from £300 to £1000.

  • Choose between lenders who have accepted your application.

  • Absolutely no fees, ever.

Representative 49.7% (variable).

How to get a direct lender 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: 25th August 2020 Updated: 11th September 2020

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.

Can I apply for a direct loan online?

You can apply for a direct loan online. The best place to start is by using the Choose Wisely search tool. It’s a quick and easy way to compare a vast panel of UK direct lenders before you apply directly and are hard credit checked.

  1. Simply fill in 2 minute form

  2. Compare lenders who have accepted your application in principle

  3. Apply with chosen lender

  4. If approved cash could be with you same day

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

Do 100% approval payday loans exist?

When you apply for any type of loan, approval is never 100% guaranteed. This is because all direct lenders have to carry out a number of final checks on your personal circumstances. Lenders will look at your employment status, credit history and if the loan is affordable before making a final decision.

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 direct lender 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.