No Credit Check Loans

A Guide to No Check Loans

Sunny Loans – Instant Decision & No Fees

Representative 1281% APR

Below you’ll find all you need to know about loans without a credit check

Loans without a credit check are not available from most lenders in the UK. The vast majority of short-term and payday loans include some form of credit check; at the very least an identity search will be carried out for fraud purposes. At Sunny, we perform a credit and affordability check on every application we receive for one of our alternative payday loans to ensure our customers can repay what they borrow.

If you are looking at where to borrow money for an emergency situation and spot any loans that don’t credit check, it’s best to pause and consider carefully whether such a loan would offer the service and protection you expect from a lender. Credit checks are designed to help lenders make sure they only lend money to those who will pay them back. Lenders have a regulatory and legal obligation to undertake a creditworthiness assessment before lending. This protects the customer and the lender too. After all, lending money a customer can’t repay helps nobody in the long run. Here, we’ve looked into loans that don’t credit check and why it’s recommended to use a lender like Sunny, who conducts robust credit and affordability checks on all their applicants, instead.

Eligibility for Sunny loans

When you apply for a loan with Sunny, by submitting an application you are agreeing to have a credit and affordability assessment conducted on you. This looks at your credit report to see how well you’ve managed borrowing money in the past and therefore how likely you are to repay. Meanwhile, our affordability check looks at your income and outgoings to determine whether, regardless of whether we believe you will or won’t repay, you can comfortably afford the repayments on the loan that you want.

If you have a poor credit rating or can’t afford the repayments on some loan amounts, this won’t necessarily exclude you from being able to take a short-term loan, but it may limit the amount you can borrow. Click the link below to find out more about the criteria you will need to meet to be eligible for a loan with Sunny and decide if it’s the right choice for you.

Example of a loan with Sunny

Remember, we don’t offer loans without a credit check. We’ve broken down some examples of different loans amounts and repayment periods, as well as the final amount you may need to pay so that you can see what might work for you. Use the sliders to take a look at different loan amounts to give you an idea of what you can comfortably afford.

Monthly Rate
24 %

Based on a 30 day month

Loan Term
6 Months

The loan term is fixed but you can repay early at any time

Representative example
Borrow
£100 for 6 months
Interest rate
292% pa (fixed)
6 repayments of
£31.91
Total amount repayable
£191.48
Representative
1281% APR
Max APR   %

Loans without a credit check FAQs

We’ve answered some quick key questions around no check loans and credit scores to help you better understand how it all works and what to consider when applying for a loan.

A no credit check payday loan may seem like a good solution if you feel you don’t have time to wait for a lender to run credit checks on you, or if you have a bad, or even non-existent, credit history. Many people believe that forgoing a credit check makes it quicker to get the money you need, and gives people in a bad financial situation a better chance of borrowing money. However, no credit check loans are rarely available in the UK, as the law requires all lenders to conduct appropriate checks on all applications they receive.

In the majority of cases, this means a credit check, and an affordability assessment, too. However, as lenders like Sunny know that getting the money you need to deal with a financial emergency is crucial to many borrowers, our thorough checks are done in a matter of minutes, and funds transferred within 15 minutes of approval.

If a lender does forgo a credit check as part of their application process, they may not be able to so accurately gauge whether you are likely to repay them and whether you can afford it alongside your other obligations. While this poses a bigger risk to the lender that could cause them to raise their interest rates, it’s also a risk for you, too, as lending money you’re not able to repay only leaves you with a larger bill to deal with further down the line.

Your credit score is a number calculated using your financial history and past behaviour. It is generally used to predict how likely a lender thinks you will be to pay back the money that they lend to you, and helps them decide whether they should approve your application. Your credit score can affect your ability to borrow money in the form of credit cards, loans and mortgages.

Often, lenders will examine your financial history and past borrowing behaviour and assign you a bespoke score according to their criteria. This means there’s no such thing as a universal credit score, but the scores you are assigned by Credit Reference Agencies will give you a good impression of how a lender might score you.

There are three main Credit Reference Agencies in the UK, who allow you to check your credit score. These are TransUnion (formerly CallCredit), Equifax and Experian, and their credit checking tools are known as Noddle, Clearscore and Credit Expert, respectively. The Credit Reference Agencies compile information about you and will supply this to a lender when you apply for credit. They gather their information using the electoral roll, court records, and information from other companies you’ve applied for credit with; this includes bank accounts, loans, credit accounts, mortgages, energy suppliers and mobile phone contracts.

Each of the Credit Reference Agencies use different scales to show what a good, bad, or excellent score is. These scores are designed to give you an impression of what kind of score a lender might give you if you apply to them, so, don’t be alarmed if you find three slightly different versions of your credit score when you check.

The most common things that negatively affect your credit score are:

  • Having credit balances at or close to the account maximum across your credit accounts, even if you’re keeping up with all your payments
  • Late or missed payments on loans, bills, mortgages, credit cards
  • Bankruptcy
  • A County Court Judgment
  • Not being on the electoral register
  • Making a number of applications for credit in a short period of time

Click here to read our full FAQ page

How a loan from Sunny can help

Here at Sunny, our loans come with a selection of great features to help you. Find out more about everything that comes with a Sunny loan before you make your decision.

We can deposit the money into your bank account fast. In fact, the majority of our customers receive their loan within just 15 minutes of approval.

We can deposit the money into your bank account fast. In fact, the majority of our customers receive their loan within just 15 minutes of approval.

Our UK-based customer service team is here to help seven days a week. You can also manage your loan using your online account to change your details and make payments.

More information on no check loans

Although loans without a credit check may seem like the quickest solution to pressing financial issues, by not considering your credit score, a lender could lend you money you aren’t able to repay, leaving you worse off in the long run. This is why all lenders carry out credit checks before accepting a loan application.

Traditional credit checks can be conducted in a matter of seconds, and consider the borrower’s address, outstanding credit and other financial commitments, as well as how they’ve managed credit in the past. Using credit checks, lenders are able to quickly and objectively judge if an applicant can afford the loan and can pay it back without getting into financial difficulty.

For this reason, a lender who will look at your credit score before giving you a loan is, in most cases, the better route to opt for.

When looking for an emergency loan, ensure it is at an affordable rate for you and has a repayment period with manageable amounts each month. A loan for an emergency should help you out of a tough financial situation, not burden you further.

What Sunny customers think

Our customers leave us great reviews and our Trustpilot score** speaks for itself. Check our reviews out below when making your decision on which lender to use for your emergency loan.

Got everything you need?

We hope this guide has answered any questions you have around loans without a credit check. If you’re happy to have a credit and affordability check when you apply for an emergency loan with Sunny, click the link below to be taken through to our application page.

Looking for alternative lending options?

Want to know more about our emergency loans and how suitable they are for your situation? Here we’ve broken down a range of circumstances where a short-term loan may be a good option, with a guide for each to read through before making your decision.