No guarantor loans: find your best match from 50+ lenders
If you’re looking for a loan without needing someone to vouch for you, you’re not alone. Thousands of people search for loans with no guarantor every month, and the good news is that more lenders than ever now offer them.
New Horizons searches over 50 FCA-authorised lenders to help find no guarantor loans suited to your circumstances, with no fees and no impact on your credit score.
Whether you have a strong credit history or have faced difficulties in the past, our loans for bad credit panel includes specialist lenders who assess your current situation rather than judging you on previous problems. You could borrow from £50 to £5,000, repay over 3 to 36 months, and check your eligibility in minutes.
This page explains how no guarantor loans work, what they cost, who qualifies, and how New Horizons can help you find the right lender without the hassle of applying to dozens of companies individually.
How no guarantor loans work at New Horizons
Applying for a loan without a guarantor through New Horizons is straightforward. Our process is designed to save you time and protect your credit score while you explore your options.
Here’s how it works:
- Complete our short online form with your personal and financial details
- We run a Soft Credit Match across our panel of over 50 FCA-authorised lenders
- If matched, you see your loan options in minutes, with no impact on your credit score
- Choose the offer that works for you, or walk away with no obligation
- If you accept an offer, the lender completes a full affordability check
- If approved, funds can be in your account within 15 minutes*
The entire eligibility check takes around 60 seconds and leaves no mark on your credit file. Only you can see the soft search on your credit report. Other lenders won’t know you’ve checked, and your score stays exactly where it is.
As a credit broker, not a lender, we don’t make lending decisions ourselves. We connect you with trusted, regulated lenders who specialise in different types of borrowing, including no guarantor loans for bad credit.
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A no guarantor loan is simply a loan where you borrow independently. There’s no need to ask a friend, family member, or anyone else to act as a backup if you can’t make repayments. You take full responsibility for the loan yourself.
In the past, many lenders required a guarantor before they’d approve borrowers with less-than-perfect credit. A guarantor would agree to cover repayments if the borrower couldn’t, giving the lender extra security.
Today, the lending market has changed significantly. More lenders now assess applications based on your current income and affordability rather than relying solely on credit scores or guarantor arrangements. This means more people can access loans independently, even with past credit problems.
No guarantor loans are unsecured, meaning you don’t need to put up your home, car, or any other asset as security. If you’re looking for quick loans without the complication of involving someone else, this type of borrowing could be a good fit.
Through New Horizons, you can access a range of no guarantor loan options through a single application, from smaller amounts for unexpected costs to larger loans repaid over longer terms. Explore more options below.
Who can apply for loans with no guarantor?
The eligibility requirements for no guarantor loans through New Horizons are straightforward. To apply, you’ll need to meet these basic criteria:
- Be at least 18 years old
- Be a UK resident
- Have a regular source of income
- Have a UK bank account
- Provide accurate personal information
Past credit problems don’t automatically disqualify you. Many of the lenders on our panel specialise in working with borrowers who have experienced financial difficulties. Whether you’ve had a default, CCJ, or just a few late payments, there are lenders who will look at your current financial situation rather than focusing entirely on your past.
Each lender sets their own criteria for approval. Because we search over 50 lenders simultaneously, your chances of finding a match are significantly higher than applying to a single lender directly. If you’ve been refused a loan elsewhere, it doesn’t necessarily mean you’ll be turned down through our panel.
Can you get a no guarantor loan without a credit check?
No legitimate lender in the UK will offer a loan without any form of credit assessment. If a company claims to offer no credit check loans, be extremely cautious. They may not be authorised by the Financial Conduct Authority, or they could be misleading you about their process.
What New Horizons offers is something different and genuinely useful. Our Soft Credit Match technology checks your eligibility across 50+ lenders without leaving any mark on your credit file. This soft search is invisible to other lenders and won’t affect your credit score.
The process works in two stages:
- Soft search (through New Horizons): we match your profile to suitable lenders. No credit footprint, no obligation.
- Hard search (by the lender): only happens if you choose to accept a loan offer. The lender then carries out a full credit and affordability check.
This two-stage approach means you can explore your options freely without worrying about damaging your credit score. For more on how this works, visit our page on no credit check loans.
Understanding the costs of no guarantor loans
Transparency about costs is one of our core values. Here’s what you need to know about the cost of borrowing without a guarantor.
Our representative APR is 49.9%. The rate you’re offered will depend on your individual circumstances, including your credit history, income, and the amount you want to borrow. Rates across our lender panel range from 9.3% APR to a maximum of 1721% APR.
Representative example: Amount of credit: £1,200 for 18 months at £95.44 per month. Total amount repayable: £1,717.83. Interest: £517.83. Interest rate: 49% pa (fixed). Representative 49.9% APR.
To put this in context, some well-known loan brokers charge a representative APR of 79.5% or higher. Our 49.9% representative APR means borrowing through New Horizons could cost you significantly less than many alternatives.
Are no guarantor loans more expensive?
Not necessarily. While it’s true that loans without a guarantor can sometimes carry slightly higher interest rates, this isn’t always the case. The cost depends more on your credit profile and the specific lender than on whether a guarantor is involved.
Because we search over 50 lenders in one go, you’re more likely to find a competitive rate suited to your circumstances. New Horizons never charges you any fees for using our service. We’re paid by lenders through commission, so our service is completely free to you regardless of the outcome.
All lenders on our panel are FCA-authorised, which means they must be upfront about every cost associated with your loan. There are no hidden fees or surprise charges.
Why choose New Horizons for no guarantor loans?
The short-term lending industry hasn’t always had the best reputation. Fee-charging brokers, data selling, and aggressive sales tactics have left many borrowers feeling let down. New Horizons was built to do things differently.
Established in 2017, we hold a Feefo Gold Trusted Service rating, reflecting consistently positive feedback from verified customers.
Here’s what sets us apart:
- 50+ FCA-authorised lenders searched with a single application, compared to many brokers who work with 30 or fewer
- Soft Credit Match technology that protects your credit score during the eligibility check
- 49.9% representative APR, significantly lower than many competitors
- No fees, ever. Our service is completely free to you
- Instant decisions with funds potentially in your account within 15 minutes of approval
- Available 24/7 so you can apply whenever suits you
We also make a formal Customer Promise built around three commitments: we never sell your data, we never contact you to sell other products, and we never give consent to other companies to contact you. Your privacy is protected, and your details stay with us.
New Horizons Finance Ltd (Company No. 11757330, FCA reference: 834535) is an Appointed Representative of Flux Funding Limited (FRN 806333), which is authorised and regulated by the Financial Conduct Authority.
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Alternatives to no guarantor loans
Borrowing isn’t always the right answer. Before applying for any loan, it’s worth considering whether other options might work better for your situation.
- Credit unions: these member-owned organisations often offer lower interest rates than commercial lenders and may be more flexible with credit requirements
- Budgeting and payment plans: if the expense isn’t urgent, you might be able to negotiate a payment plan directly with the company you owe money to
- Government support: depending on your circumstances, you may qualify for benefits, grants, or interest-free budgeting loans through the government
- Family and friends: if someone close to you can help, this avoids interest charges entirely, though it’s wise to put any agreement in writing
If you’re struggling with existing debts, free and confidential advice is available from MoneyHelper, StepChange, Citizens Advice, and National Debtline. Speaking to a debt advisor before taking on new borrowing can help you see the full picture.
If you do decide that a loan is the right option, checking your eligibility through New Horizons is a sensible first step. You can see what’s available without any cost, obligation, or impact on your credit score.
For smaller amounts, you might also consider a £500 loan or a £1,000 loan to keep borrowing to a minimum.
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
How to improve your chances of approval
While we can’t guarantee any application will be approved, there are practical steps you can take to strengthen your chances of being matched with a lender.
- Check your credit report for errors: mistakes on your file can drag your score down unfairly. You can check your report for free through Experian, Equifax, or TransUnion
- Register on the electoral roll: this helps lenders verify your identity and address, and it’s one of the simplest ways to boost your score
- Only borrow what you need: requesting a smaller amount improves your chances because lenders see less risk
- Avoid multiple applications: each hard credit check leaves a mark on your file. Using New Horizons’ soft search lets you check eligibility without this risk
- Keep up with existing payments: consistent repayment history on current commitments signals reliability to lenders
For a more detailed guide, see our tips on how to improve your credit score.
Frequently asked questions about no guarantor loans
What is a guarantor and why would I need one?
A guarantor is someone who agrees to repay your loan if you can’t. Historically, lenders required guarantors for borrowers with poor credit as an extra layer of security. Today, many lenders offer loans without this requirement, assessing your application on your own merits instead.
Can I get a no guarantor loan with bad credit?
Yes, many lenders on our panel specialise in loans for bad credit no guarantor. They look at your current income and affordability rather than focusing solely on your credit history. Checking your eligibility through New Horizons is free and won’t affect your credit score.
How much can I borrow without a guarantor?
Through New Horizons, you can apply for loans from £50 to £5,000. The amount you’re offered will depend on your individual circumstances, including your income and credit profile. Repayment terms range from 3 to 36 months.
How quickly can I get the money?
You could receive funds within 15 minutes of being approved by a lender. The exact timing depends on your bank’s processing procedures, but many of our partner lenders offer same-day funding. If speed is a priority, you might also want to look at same day loans.
Will applying affect my credit score?
No. Checking your eligibility through New Horizons uses a soft search that won’t appear on your credit file. Other lenders can’t see it, and it has no impact on your score. A hard credit check only takes place if you choose to accept an offer from a lender.
Does New Horizons charge any fees?
No. New Horizons never charges customers any fees for using our service. We receive commission from lenders when a loan is successfully arranged, so our service is completely free to you regardless of the outcome.
Is New Horizons a lender?
No, we’re a credit broker, not a lender. We search over 50 FCA-authorised lenders on your behalf to help find the best match for your circumstances. This means you get access to a wide range of options through a single application, rather than applying to each lender separately.
What happens if I’m not matched with a lender?
Not being matched doesn’t necessarily mean you won’t be accepted elsewhere. Different lenders have different criteria, and your circumstances may change over time. You might want to review your credit file for errors, consider a smaller loan amount, or explore the alternatives listed above.
Can I repay my loan early?
Most lenders allow early repayment, and some won’t charge you extra for doing so. The specific terms depend on your lender. Early repayment can save you money on interest and may help improve your credit score over time.
What if I can’t make a repayment?
Contact your lender as soon as possible if you’re struggling to keep up with payments. Don’t wait until you’ve missed a payment. Lenders may be able to offer a revised repayment plan or temporary relief. Late payment fees can range from £1 to £100 depending on the lender. If the situation isn’t resolved, it could affect your credit record and your debt may be passed to a collections agency.
Are no guarantor loans safe?
Yes, provided you borrow from FCA-authorised lenders. All lenders on the New Horizons panel are regulated by the Financial Conduct Authority, which means they must follow strict rules about affordability, transparency, and fair treatment. Always check that any lender you deal with appears on the FCA register.
What’s the difference between secured and unsecured no guarantor loans?
Unsecured loans don’t require you to put up any assets as security. Secured loans require collateral, such as your home or car, which the lender could claim if you fail to repay. The loans available through New Horizons are unsecured, so your property and belongings are not at risk.
How does New Horizons compare to other brokers?
New Horizons offers a representative APR of 49.9%, which is significantly lower than many competitors. We also search over 50 lenders compared to the 30 or fewer that many other brokers work with. Combined with our no-fee service, Soft Credit Match technology, and Feefo Gold rating, we offer one of the most comprehensive and transparent broker services available.
Can I apply for a no guarantor loan if I’m on benefits?
Yes, you can apply if you receive benefits as part of your income. Some lenders on our panel consider benefits alongside other income sources when assessing affordability. For more information, see our dedicated page on loans for people on benefits.
What information do I need to apply?
You’ll need basic personal details, your employment and income information, and your bank details. The form takes around three minutes to complete. Having your details to hand before you start will make the process even quicker.
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