Emergency loans: find the right option when you need it most
An unexpected expense can throw your finances off course. Whether it’s a car breakdown, a broken boiler, or an urgent vet bill, sometimes you need access to funds quickly and can’t afford to wait.
New Horizons searches over 50 FCA-authorised lenders to find emergency loan options matched to your circumstances, with no fees and no impact on your credit score.
We’re a credit broker, not a lender. That means we do the searching across our entire lender panel so you don’t have to apply with each one individually. You complete one short form, and we show you which lenders are most likely to approve your application.
If you’re approved by a lender, funds could be in your account within 15 minutes.* Whether you need a £100 loan to cover a small emergency or up to £5,000 for something larger, our lenders offer flexible repayment terms from 3 to 36 months.
How emergency loans work at New Horizons
Our application process is designed to be fast, straightforward, and stress-free. Here’s exactly what happens when you check your eligibility:
- 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
- You see your matched loan options instantly, 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
- Once approved, funds could be in your account within 15 minutes*
The entire process takes minutes, and you can apply 24 hours a day, 7 days a week from any device.
Our Soft Credit Match technology is a key part of what makes this process different. Unlike applying directly to a lender, which triggers a hard credit check visible to other lenders, our initial search is completely invisible on your credit file. Only you can see it. This means you can check your options without any risk to your credit score.
Need funds even faster? Our same day loans page explains more about how quickly approved funds can reach your account.
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What counts as a financial emergency?
Emergency loans are designed for situations where an unexpected cost needs to be dealt with quickly. Common reasons people apply through New Horizons include:
- Car repairs or breakdowns that affect your ability to get to work
- Boiler or heating system failures, especially during winter months
- Urgent home repairs such as leaking roofs or broken plumbing
- Unexpected veterinary bills for a pet’s illness or injury
- Essential appliance replacements like a fridge or washing machine
- Medical or dental costs that can’t be delayed
The key question to ask yourself before borrowing is whether the expense is genuinely urgent and whether you can comfortably afford the repayments. If the cost can wait a few weeks while you save, that’s usually the better option. Borrowing should be a solution for genuine emergencies, not everyday spending.
Different Types of Emergency Loans
Emergency loans for bad credit
A low credit score doesn’t have to mean no options. Many people searching for emergency loans have experienced credit difficulties in the past, whether that’s missed payments, defaults, or CCJs. Life happens, and your past doesn’t have to define your future.
We work with lenders who look at your current situation, not just your credit history. Many of the lenders on our panel specialise in helping people with less-than-perfect credit. They assess factors like your current income, employment status, and ability to repay alongside your credit file.
Because we search over 50 lenders at once, your chances of finding a match are significantly higher than applying to a single lender. If one lender says no, another on our panel may say yes, and you only need one to find the right loan.
If you’ve been turned down for credit elsewhere, our guide on how to get a loan accepted offers practical steps you can take. And for longer-term credit improvement, take a look at our tips on how to fix a bad credit score.
Eligibility requirements for emergency loans
To check your eligibility through New Horizons, you’ll need to meet a few basic requirements:
- 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
Meeting these requirements doesn’t guarantee approval, as that decision sits with the lender. However, it means our Soft Credit Match can search across our full panel of over 50 FCA-authorised lenders to find potential matches.
Each lender has their own criteria, which is why using a broker like New Horizons gives you a broader chance of finding a suitable option. One application searches our entire panel, so there’s no need to apply to multiple lenders individually and risk multiple hard credit checks on your file.
Understanding the costs of emergency loans
Being upfront about costs is important to us. Emergency loans, like all short-term borrowing, come with interest charges that you should understand before committing.
Our representative APR is 49.9%, which is significantly lower than many competitors in this space. Some other brokers quote representative APRs of 79.5% or even 91%, so the rate you’re offered through our panel could save you a meaningful amount over the life of your loan.
Here’s a representative example of what borrowing could look like:
- Amount of credit: £1,200 for 18 months
- Monthly payment: £95.44
- Total amount repayable: £1,717.83
- Interest: £517.83
- Interest rate: 49% pa (fixed)
- Representative 49.9% APR
The actual rate you’re offered will depend on your individual circumstances. Rates across our lender panel range from 9.3% APR to a maximum of 1,721% APR. The higher rates typically apply to very small, very short-term loans where lenders have less time to earn back their costs.
New Horizons never charges any fees to customers. Our service is completely free to use. We’re paid by lenders when a successful introduction is made, so there’s no cost to you whether you’re accepted, declined, or choose not to proceed.
If you’re looking for a specific amount, our borrow money page lets you explore options by loan size, from £500 loans to £5,000 loans.
Why choose New Horizons for your emergency loan
With many brokers and lenders available online, it’s worth understanding what makes New Horizons different.
We were built in 2017 after the worst practices of the loans industry became widely condemned. Fee charging, data selling, and aggressive contact were common, and we set out to do things differently from day one. Ethical practice isn’t something we’ve retrofitted; it’s in our DNA.
Here’s what that means in practice:
- Over 50 FCA-authorised lenders searched with one application
- Soft Credit Match technology that won’t affect your credit score
- No fees from New Horizons, ever
- Feefo Gold Trusted Service rating from verified customer reviews
- Representative 49.9% APR, lower than many competitors
- 7,510+ loan applications processed daily across our platform
We also have a formal Customer Promise built around three commitments we call The Three Nevers:
- We never sell your personal data
- We never contact you to sell other products
- We never give consent to other companies to contact you
Your data stays with us. No spam, no third-party calls, no surprises. These aren’t just words on a page. They’re commitments that directly address the bad practices that other companies in this industry have been criticised for.
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Before taking on any borrowing, it’s worth considering whether another option might work for your situation. Responsible lending means helping you make the right decision, even if that means not borrowing at all.
- Credit unions often offer small loans at lower interest rates and may be more flexible with eligibility
- Family or friends could help with a short-term loan without interest charges
- Payment plans with the company you owe, such as a garage or tradesperson, who may agree to spread the cost
- Savings or rainy day funds, even if it means dipping into money set aside for something else
- Government support through schemes like the Household Support Fund or Budgeting Loans for those on certain benefits
If you’re struggling with debt more broadly, free advice is available from MoneyHelper, StepChange, Citizens Advice, and National Debtline. These services are completely free and confidential.
If you receive benefits and need to borrow, our loans for people on benefits page explains how our lenders assess applications from benefit recipients.
Can I get an emergency loan with no credit check?
No legitimate UK lender can offer a loan with absolutely no credit check. The Financial Conduct Authority requires all regulated lenders to carry out appropriate checks to ensure they’re lending responsibly.
However, our Soft Credit Match is the next best thing. It allows us to search our entire lender panel on your behalf without leaving any mark on your credit file. Other lenders can’t see it, and it won’t affect your score.
Only if you choose to accept a loan offer will the lender carry out a full (hard) credit check. This two-stage process gives you the freedom to explore your options risk-free before making any commitment.
For more information on this topic, visit our dedicated no credit check loans page.
How quickly can I receive emergency funds?
Speed is often the most important factor when you’re dealing with an emergency. Here’s what you can realistically expect:
- The online application form takes around 3 minutes to complete
- You’ll see your matched lender options instantly after submitting
- If you accept an offer, funds could be sent within 15 minutes of approval*
- You can apply 24/7, including evenings, weekends, and bank holidays
The actual time it takes for funds to appear in your account depends on your bank’s processing times. Most major UK banks process faster payments within minutes, but some may take longer, particularly outside business hours. The 15-minute timeframe refers to how quickly the lender sends the funds, not necessarily when they arrive.
If speed is your top priority, our quick loans page covers everything you need to know about fast funding options.
Frequently asked questions about emergency loans
What is an emergency loan?
An emergency loan is a short-term borrowing option designed to help cover unexpected costs quickly. These loans are typically used for urgent expenses like car repairs, boiler breakdowns, or medical bills. Through New Horizons, you can borrow from £50 to £5,000 with repayment terms from 3 to 36 months.
How much can I borrow with an emergency loan?
Through New Horizons, you can borrow between £50 and £5,000. The amount you’re offered will depend on your individual circumstances, including your income, existing commitments, and credit profile. For smaller emergencies, a £200 loan or £300 loan might be sufficient without over-borrowing.
Will applying for an emergency loan affect my credit score?
Checking your eligibility through New Horizons will not affect your credit score. We use a soft search that’s invisible to other lenders. Only if you accept a loan offer will the lender carry out a hard credit check, which will appear on your credit file.
Can I get an emergency loan on the same day?
Yes, same day funding is available for most approved applications. Once a lender approves your application, funds could be sent within 15 minutes.* The time it takes for money to reach your account depends on your bank’s processing procedures.
What if I have bad credit and need an emergency loan?
Past credit problems don’t automatically rule you out. We work with lenders who specialise in helping people with less-than-perfect credit histories. Our panel includes lenders who consider your current income and affordability, not just your past. Searching through New Horizons gives you access to over 50 lenders with a single application.
Are there any fees to use New Horizons?
No. New Horizons never charges customers any fees. Our service is completely free to use. We receive commission from lenders when a successful loan introduction is made, so there’s no cost to you regardless of the outcome.
How long do I have to repay an emergency loan?
Repayment terms range from 3 to 36 months. You choose the repayment period that suits your budget when you apply. Shorter terms mean less interest overall but higher monthly payments, while longer terms reduce monthly costs but increase the total amount repaid.
What happens if I can’t make a repayment?
Contact your lender immediately if you’re struggling to make a payment. FCA regulations require lenders to treat customers in financial difficulty fairly. They may offer options like a temporary payment holiday or reduced payments. Missing payments without contacting your lender can result in additional charges and will affect your credit record.
Is New Horizons a lender?
No, New Horizons is a credit broker, not a lender. We don’t lend money directly. Instead, we search over 50 FCA-authorised lenders and brokers to find the best match for your circumstances. This broker model means you get access to more options than applying to a single lender.
Can I get an emergency loan if I’m on benefits?
Some lenders on our panel will consider applications from people who receive benefits. Lenders typically require that your income, including benefits, is sufficient to cover repayments comfortably. Benefits such as Universal Credit, Disability Living Allowance, and PIP may be accepted as income. Visit our loans for people on benefits page for more details.
Can I get an emergency loan if I’m unemployed?
Lenders typically require a regular source of income, but employment isn’t always essential. If you receive benefits, a pension, or other regular income, some lenders may still consider your application. Our unemployed loans page explains your options in more detail.
What APR should I expect on an emergency loan?
Our representative APR is 49.9%, with rates across the panel ranging from 9.3% to 1,721% APR. The rate you’re offered depends on your personal circumstances, the amount you borrow, and the repayment term. Our representative rate is lower than many competing brokers, which means you could pay less overall for your borrowing.
How is New Horizons regulated?
New Horizons Finance Ltd (Company No. 11757330, FCA reference: 834535) is an Appointed Representative of Flux Funding Limited (FRN 806333). Flux Funding is authorised and regulated by the Financial Conduct Authority. All lenders on our panel are also FCA-authorised, giving you full regulatory protection.
What’s the difference between an emergency loan and a payday loan?
Traditional payday loans required full repayment on your next payday, often within a month. Emergency loans through New Horizons offer flexible repayment terms from 3 to 36 months, letting you spread the cost into manageable monthly payments. This makes repayment more affordable and reduces the risk of falling into a cycle of borrowing.
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
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