Payday Loans No Credit Check†

Instant cash loans of up to £5000*

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Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed).Representative 669.35% APR (variable).

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No Credit Check Payday Loans – No Need For A Great Credit Record!

Looking for a no credit check payday loan? Apply today. All types of credit history are considered.

What Is a No Credit Check Payday Loan?

A no credit check loan is a loan that is given without a hard check of your credit file being performed. In the UK, it is a legal requirement to conduct credit and affordability checks before granting any kind of credit, so in the case of no credit check loans, a soft check of your credit file is used. A soft credit check will not leave a footprint on your credit record.

The information gathered from a soft check enables a decision in principle on loans, protecting your credit score from the impact of a hard search. Because a soft check has been used, you can rest assured that anyone checking your credit record in the future will not be able to see any soft checks performed.

Should you decide to proceed with an offer of a loan and finalise the credit agreement, only at this stage will a hard check be carried out.

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When a lender performs a hard check, they will consult one or more of the UK’s credit reference agencies such as Equifax and Experian from which they will be given details of how you have handled credit in the past. As a recorded history of how you have handled credit is seen as a good indicator of how you will handle it in the future, it means if you have missed payments in the past or had issues such as Individual Voluntary Agreements or County Court Judgements you may not be accepted for a loan.


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What Is a Credit Check?

Whenever you apply for any form of credit, the company involved will want to view your credit report. Nearly everyone in the UK has a credit file held at one of the four main credit reference agencies. This file holds information about your current financial situation and how you have managed your money over the last 6 years.

Companies will use the information they obtain in this file to decide whether to lend to you and, if so, at what interest rates.

What Is a Soft Credit Check?

Soft credit checks are used by companies to get a quick overview of your finances, often used to understand your situation and assess how successful a credit application will be without performing a full search.

A soft search cannot be seen by other companies searching your credit file in the future and have no impact on your credit score.

What Is a Hard Credit Check?

A hard credit check is used to get a complete understanding of your financial situation. Everything will be visible, every type of credit account you have, amounts you owe, how much you pay and even any missed payments

This is the type of check most often used before your credit application is granted, but it is worth noting that a hard credit search will be added to your credit file as well for 12 months. Anyone viewing your credit file at a later stage will be able to see all the hard searches performed. Too many in a short space of time can be detrimental to your chances of getting credit.

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Why Might You Want a Payday Loan Without a Credit Check?

There are many reasons why you may be seeking out no credit check loans, but the most common is that your credit rating is currently in the red, or at least towards the low end of the scale. This is especially true for those with CCJs (County Court Judgements) or IVAs (Individual Voluntary Agreements) against their names. If you’ve ever been turned down for a credit card, other loan or financial option because of poor credit, you know the disappointment that rejection can cause.

Anything from defaults on payments to bankruptcy, maxing out your credit or simply not being on the electoral roll can have a direct impact on your credit score. If any of these factors apply to you, you may be considering a loan without a credit check. Since 2014, the FCA has made serious changes to regulate the payday loan industry – credit and affordability checks are just one of these changes.

This type of loan is designed to help you get cash when you need it. Unlike long-term loans, they are explicitly tailored to tide you over until payday should an emergency or accident occur. Think replacing a faulty washing machine or necessary car repairs. As such, the credit check and follow-up questions in our loan applications are a vital part of ensuring payday loans are the right fit for you – and that they won’t put you in further financial hardship as a result of approval.

How Do I Know If I’ll Be Approved for a Payday Loan in the UK With Bad Credit?

We help thousands of customers with bad credit to get approvals from our lenders – and you are no exception. Often, our lenders can provide a quick decision. So, you will know quickly whether you will be able to access the cash you need. Once your loan has been approved, you must then agree to the terms and virtually sign to complete the process. From there, the cash with be deposited in your account within the stated period.

Are Payday Loans With No Credit Check Legal?

With rules set out by the Financial Conduct Authority (FCA), all lenders must perform some form of credit and affordability check before they can offer you a loan. If you think you may have found an alternative loan service that guarantees no credit checks, we advise caution. Always check that they are licensed and regulated by the FCA, and if not, you should not enter into a credit agreement with them.

While choosing an FCA authorised loan service like Cobra Payday Loans will require some form of credit check, opting for a regulated option will give you peace of mind that you are protected – and that the whole loan process is above-board and legal. While it may be tempting to look at other options, we will always recommend you use an FCA-approved option like us for your choice of lender.

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Can I Get No Credit Checks Loans in the UK?

All lenders in the UK are bound by the same guidance from the FCA and, as part of responsible lending practices, must ensure all loans are affordable and are not going to put you in further financial distress. Credit checks, whether soft or hard, form part of this. They enable lenders to quickly see if the type of credit you are applying for is suitable.

In recent years, the FCA has firmed up regulation around the short term credit market, so much so that it should provide a certain element of re-assurance as a borrower.


Frequently Asked Questions

  • Can I get a payday loan with no credit check?

    It may sound like an attractive proposition, a ‘no credit check loan’, especially for those with a poor credit record or maybe even no credit record at all. But in the UK all regulated lenders must undertake some form of credit and affordability checks before being able to offer a loan.

    However, having a bad credit score or no credit history whatsoever doesn’t mean you won’t be able to get a loan, some of the lenders we work with specialise in helping bad credit customers, rather than relying on your credit report they can put far more emphasis on your current financial situation and your ability to repay on time. Apply through us and you may just be surprised.

  • As an FCA authorised company we are in an excellent position to help you find the finance you need. We work with a wide range of lenders, many of which will accept applications from people with a bad credit history, far more importantly they are more interested in whether you can afford to repay the loan and don’t base their decision solely on your credit past.

    Submit our secure application form and we will search the market to find a loan for you.

  • More often than not the main reason people search for this type of loan is because of problems obtaining finance. That may be because they either have no credit history or have had trouble in the past and are now classed as having a bad credit record.

    But all may not be lost, having a bad credit record does not have to be the be all and end all. We have helped thousands of people find the credit they need. Some of the lenders we work with will consider applications from all types of credit background. So give us a try today and find out if we can help you too.

  • A lot of people in the UK suffer with a bad credit record and as such are unable to get very good deals on credit and finance, if any at all. As a first step you should check your credit record with the big 3 credit reference agencies, Equifax, Experian and Transunion. Check for any incorrect information that they may hold and rectify with them as necessary.

    Unfortunately if a poor credit score is because of historic financial mistakes then there is no quick fix, first and foremost it’s important to get on top of your current credit commitments and pay them in a timely fashion. Over time your score will gradually improve.

What Happens If I Can’t Pay Back a Loan?

If you have been approved for a payday loan, but you now find you can’t pay that loan back, the best thing to do is to speak directly to the lender. In many cases, they understand issues that may arise for customers. The worst thing you can do is ignore payments, as these will then default and lead to further financial problems down the line. As soon as you know you can’t make a payment on your loan, it would be best if you spoke up.

As lenders, most payday loan companies have had customers fall into difficulties. As such, they have processes and support in place to help you if you cannot pay. Alongside speaking directly to your lender, you can also talk to the Money Advice Service for general financial help. If you’re struggling with money, speaking to a debt charity like StepChange may also help get you back on steadier financial ground.

When Is a Payday Loan Not the Right Choice for Me?

This type of loan is designed to be a short-term, infrequent form of lending to get you through a difficult time. If you do not feel that you fall into that category, then a payday loan may not be the best fit. For example, if you would like to fund a holiday or buy a new car, there are better forms of credit on offer to you that fit your needs. Payday loans also should not be used for day-to-day spending. If you find yourself having to borrow every month, then you may want to speak to the money support services mentioned above.

In general, payday loans can be a fantastic way to access money quickly. While you cannot apply for loans without some form of credit check in the UK, using our service at Cobra Payday Loans can help you to find a payday loan, even if you have bad credit. Whether it’s a forgotten annual bill, your car breaking down or a roof leak, we’ve helped thousands of people access the cash they need when they need it.

Being informed about payday loans is the best first step you can take. Under current FCA regulations, that’s easier than ever. Everything is laid out for you, and all the information is there to make that informed decision. If a payday loan is the right fit for you, then we’re the company for the job.

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† To assess your eligibility for a loan, a lender will perform a soft search of your credit record which will not leave a footprint on your credit file. If you decide to go ahead with a loan offer, all FCA authorised lenders will need a full credit check.