Searches for ‘no credit check’ loans are common, but FCA authorised lenders must assess creditworthiness and affordability. This may include credit-reference data, but the checks vary by lender. Be cautious of guaranteed approval or claims of no checks at all.
What you can do is check your eligibility with a soft search. It shows what you could be offered and does not affect your credit score.
Why lenders always check
Responsible lending rules exist to protect borrowers from taking on credit they cannot afford. That is why authorised lenders carry out checks. Firms advertising guaranteed loans with no checks may not be legitimate.
- Affordability checks are a regulatory requirement
- ‘No check’ or ‘guaranteed’ offers can be a scam sign
- A soft search lets you check with no score impact
How a soft search helps
A soft search lets you see whether you are likely to be accepted before you formally apply, with no impact on your credit score. Only if you proceed with a lender do they run a full check.
Why a soft search is the safe way to check
You do not need a no check loan to protect your score. With a soft search we search our panel for a potential match with no impact on your credit score, and only if you proceed with a lender do they run a full check. It gives you the reassurance people look for, without the risk.
Loans to avoid
Some adverts promise things a legitimate, FCA authorised lender never would. Treat these as warning signs.
- Guaranteed approval with no checks at all
- An upfront fee to release or secure the loan
- A firm you cannot find on the FCA register
How to apply
Borrowing responsibly
It is worth making sure the monthly repayment fits comfortably around your other commitments before you apply. Focus on the total amount repayable across the full term, not just the headline monthly figure, and only borrow what you really need.
Every lender on our panel is authorised by the Financial Conduct Authority, and high cost short term credit is subject to an FCA total cost cap, meaning you cannot repay more in interest and fees than the amount borrowed. If money is tight, free and impartial help is available from MoneyHelper.
Representative Example: Borrow £1,000 over 18 months. 18 monthly repayments of £89.22. Total amount repayable: £1,605.96. Interest: £605.96. Annual interest rate: 59.97% (fixed). Subject to application approval by the lender. Not all lenders offer loans up to £5,000. Representative APR 79.5% (Variable). Any representative monthly repayment shown is for illustration only, based on our representative APR. Your actual repayments will be confirmed by the matching lender if your application is approved.