When you need to cover an emergency expense and have no available funds, a short term loan may help. With many different loan options available choosing the right one can be difficult. It is important to be aware of all the options available, as having a low credit score can make it more difficult to be approved for credit.

Offering payday loans with no credit checks in the UK goes against the guidelines of the Financial Conduct Authority (FCA). At QuidMarket, we provide an alternative when you need funds quickly.

  • New customers can borrow between £300 and £600*
  • Returning customers may be eligible to borrow up to £1,500*
  • Flexible repayment terms between 3-6 months
  • Bad credit histories welcome
  • QuidMarket is an FCA Authorised UK lender
  • No hidden fees
  • No guarantor or collateral needed
  • Same day cash transfer wherever possible
  • Quick and simple online loan application
  • Decisions made by humans, not computers

*Loan amounts and repayment terms are dependent on affordability checks

You can find further information about no credit check loans below. This includes regulations on payday loans from direct lenders who offer no credit checks, as well as short term loans with no credit checks that you may find via a broker.

We’ll explain the potential risks involved in applying for this type of loan in the UK, as well as the alternatives to bad credit loans with no credit checks that are available to you. Ultimately, we hope to provide you with the details you need to make an informed decision on whether a no credit check loan in the UK is the best choice for your financial situation, and how we compare.

If you want to begin an application at QuidMarket and see if we can help today, click apply now for a quick decision.

How much do you need?

£300 £1500

For how long?

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This is for illustration purposes only. Your repayment schedule will be confirmed during your application

*All applications are subject to affordability checks*

Representative example: Borrow £300 for 3 months / Interest payable £154.38 / Total amount payable: £454.38 in 3 instalments / 3 payments of £151.46 / Representative 1301.1% APR / Interest rate 292% per annum (fixed) / Maximum APR 1625.5%

Compare short term loans on Clear and Fair

As a new customer the minimum repayment period is 3 months and the maximum is 6 months. Additional options may be available to you as a repeat customer.

The Rules on No Credit Check Loans in the UK

In the UK, the financial industry is regulated by the Financial Conduct Authority (FCA). In the FCA’s Consumer Credit sourcebook on Responsible Lending, they say that firms must undertake a ‘reasonable assessment of the creditworthiness of a customer before… entering into a regulated credit agreement.’ A creditworthiness assessment is based on information supplied by the applicant as well as a credit reference agency.

The three main objectives of the FCA are:

  • To secure an appropriate degree of protection for consumers
  • To protect and enhance the integrity of the UK financial system
  • To promote effective competition in the interests of consumers

Any company approving bad credit loans with no credit checks would not be operating within the FCA guidelines above.  As explained on the FCA’s website, ‘If you deal with an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.’

When Are Bad Credit Loans with No Credit Checks Allowed?

Loans requiring no credit checks may not always be against FCA guidelines. In some instances, a ‘soft search’ credit check could supply sufficient information to approve some types of credit. Companies who only need to perform soft searches may say they offer no credit check loans because soft searches are not recorded on your credit file.

Brokers may also advertise that they offer no credit check loans. In the UK, brokers are not required to perform credit checks to the same extent as direct lenders are. Credit brokers will usually perform a soft search credit check, and there will not be a credit check recorded on your credit file if you do not continue with the application.


This may be beneficial to people who wish to compare loans for the best deals before committing to an application. In this way brokers are acting similarly to a loan comparison site. Their aim is to help you find short term loans no credit checks upfront.

If you apply for payday loans with no credit checks via a broker your information will be passed to your chosen lender. The lender will then be required to perform a ‘hard search’ credit check. Any direct lender in the UK who does not do so would be going against FCA guidelines.

About Payday Loans with No Credit Checks

When it comes to payday loans and short term loans with no credit checks, the rules are clear. Payday loans requiring no credit checks other than a ‘soft search’ are not be allowed under FCA guidelines.

It is very unlikely that any payday loans without a credit check could be approved, as the lender would not be able to gather sufficient information. Instead, they would need to seek more information from a credit reference agency – known as performing a ‘hard search’ credit check. Which would leave a footprint on your credit file.

Payday loans are an expensive form of borrowing. Creditworthiness and affordability checks are designed to protect you against financial difficulties.

Opting to avoid bad credit loans with no credit checks in favour of FCA authorised lenders also ensures that you are protected by the FCA’s price caps. QuidMarket is an authorised lender and we full abide by FCA guidelines and price rules, including:

  • The interest and fees charged each day must not be more than 0.8% of the original loan amount
  • Default fees must not exceed £15 in total – whether you miss one or more repayments
  • After a missed or late repayment, lenders cannot increase your interest rate
  • You’ll never have to pay more than the original loan amount in all interest, fees, and charges

Choosing short term loans with no credit checks involves the risk of being charged higher interest rates, default fees, and charges. There are many alternatives to payday loans with no credit checks.

Alternatives to Short Term Loans with No Credit Check

Along with QuidMarket, there are several alternatives to payday loans with no credit checks in the UK to consider. You can use a comparison site to find lenders who would be more likely to approve you if you have a poor credit history.

If you can avoid borrowing money to resolve your short term position, for example, borrowing from family or friends, this is always preferable. If you have exhausted all options, we are here to help.

If you need to cover an emergency expense, QuidMarket can help with our affordable loans between £300 – £600 for new customers. We never offer no credit check loans in the UK and are proud to work within the responsible lending guidelines set out by the FCA.

As a responsible lender we carry out all necessary credit and affordability checks. We welcome applications from all levels of credit. Instead, we carry out affordability assessments to determine whether you can sustainably afford the scheduled loan repayments you have applied for.

Eligibility for a QuidMarket Loan

To be eligible to for a QuidMarket loan , you will need:

  • To live in the UK
  • To be over 23 years old, and under 65 years old
  • To have a mobile phone (we send an SMS code during your application)
  • To hold a UK bank account with a valid debit card
  • To be in employment and take home at least £1,300 a month

This doesn’t guarantee you will be approved but means we can move forward with your application and run credit and affordability checks.

If we determine the loan repayments are affordable and sustainable for you, we will process the application and if approved, transfer the funds as soon as possible.

To If you have any questions regarding our loan options or more about no credit loans, please visit our FAQ page . If you are experiencing financial difficulties, please visit Money Helper for more helpful information.

Under FCA regulations, payday loans with no credit checks from direct lenders are not permissible. For this type of loan, the lender would need to gather a sufficient amount of information to determine whether you would be able to afford the repayments.

This should include performing a hard search on your credit record to ensure you are capable of managing your finances. Even loans that are advertised as instant decision loans will need to have some sort of check on your credit rating, despite not being completely based on your score.

Loans requiring no credit check are advertised as being offered without the lender carrying out a comprehensive review of your credit history. People with poor credit may be interested in loans without a credit check because they could be concerned about being declined. However, loan providers who offer no credit check loans in the UK go against the FCA regulations.

Instead of looking for a payday loan with no credit check, you should look for loans with lending decisions based on affordability. These loans take your monthly income, essential outgoings, and financial commitments into consideration, rather than your whole credit history. These may be offered to those with bad credit, so if you have previously been turned away in the past, this could be a better option for you.

All loan providers should conduct some form of check on a borrower’s credit score, even if they offer loans for affordability, under FCA guidelines. This means that lenders should not be claiming to provide no credit check loans in the UK. Lenders should perform sufficient checks to ensure that you can sustain repayments each month. If they do not check, they may approve a loan that you cannot afford the repayments for, leaving you in further financial difficulties. You should only apply for loans provided by FCA authorised lenders that have your best interests as a priority and will not cause further financial hardship.

Warning: You should never pay upfront fees for a short term loan or send money in return for a short term loan. Late repayment can cause you serious money problems. For help, visit: www.moneyhelper.org.uk