With a Bad Credit loan you can borrow from £5,000 to £75,000 and up to 125% of your property value in some cases. Bad Credit loans secured on property can be repaid over a period of between 5 years and 25 years.

A Bad Credit loan can be used for any purpose such as; home improvements like a new kitchen or bathroom, that once-in-a-lifetime holiday, a dream car or repaying debts to reduce your monthly outgoings to a more manageable amount.

Bad Credit loans rates are variable, depending on status. Generally speaking if a loan is to be given to a bad credit interest rate will be higher and an up front fee may also be charged. Monthly repayments will depend on amount borrowed term.

Some lenders specialise in adverse credit because they can charge high fees and a higher interest rate than normal and if borrower is now in a good financial position risk rating of loan may be as good as someone who has no record of defaults.

However most banks and financial institutions will turn down a loan application if there is a history of bad payment or insist that it is secured on a property.

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