Loans for young people
Royal Wootton Bassett loan broker

Loans for Young People

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Personal Loans for young people aged 18 and over. Find out how much a personal unsecured loan could cost. Complete your details and we will give you a personalised loan quote for young people. We can help with loans for people aged 18, 19, 20 or age 21.

What is a loan for a young person?

A personal loan is where you borrow money from a lender, and agree to make repayments over a set period of time. Repayments must be made on time, usually monthly. You need to make sure that you have sufficient income to meet the payments, or you may default on the loan which will give you a bad credit record and make it more difficult to get a loan in the future. You need to think not only about whether you have sufficient income to make payments now, but think about what happens if your circumstances change, such as if you lose your job or you go on shorter hours and your income reduces.

You may want to borrow money for a new car, to make home improvements or to repay other, higher rate finance you may already have. If this is the case, please bear in mind that although a new loan may reduce your monthly payments now, they may increase the overall amount you will have to pay back.

Can I get a loan aged 18 to 21?

Looking for a loan under £25000?
bad credit history loans

If you are aged 18 or over and need a personal loan, we can put you in touch with a regulated loan broker, even if you have had financial problems in the past and you are worried about where to get help with you finances. If you need to raise money fast, a qualified loan broker can help you get back control of your finances.

What types of loan are available for young people?

There are five different types of loans available on this website:

  • Personal Loans, also known as Unsecured Loans
  • This is a loan in which there is a set number of regular payments. The maximum amount you can borrow is £25,000 over a maximum term of 7 years. These are also known as installment loans
  • Guarantor Loans Click here to apply
  • Bad credit history? Guarantor loans from £1,500 to £12,500. Your Guarantor (parent, family, friend) can be a tenant or homeowner. 39.9% Representative APR. Bad credit accepted, no fees
  • Payday Loans
  • Usually, payday loans are for a shorter term, often paid back in a single lump sum payment on the borrower’s next payday. They have a higher interest rate than a personal loan.
  • Secured Loans
  • These are secured on your home and are only available to people who own their own property - not to people who are renting or living with family or friends. Secured loans normally have lower interest rates but please read the Important Information section below.
  • Unsecured Homeowner Loans
  • These are personal loans only available to people who own their own property - not to people who are renting or living with family or friends. The loan is not secured on the property. The interest rates are normally lower than personal loans but higher than secured loans.

How much will a loan cost me?

To find out how much an unsecured loan will cost you, please complete the personal loan application
If you have a parent, family or friend who will act as a Guarantor, you can apply for a Guarantor Loan from £1000 to £10,000. APR from 39.9%
For secured loans, please complete the secured loan application
If you want a car loan, complete the Personal loan application form

The loan broker will contact you to discuss the loan and let you know the monthly payments

Please make sure a personal loan is right for you before taking it out. You should always think very carefully before committing to any form of credit or borrowing money.

Financial Difficulties

If you're trying to manage existing debt or in financial difficulty, consider what your options are before you borrow. For further help on managing your money visit the Money Advice Service.

Our fast, secure application gives you access to multiple lenders, finding you the cheapest loan based on your personal circumstances*.

For short term loans, payday loans, car loans, unsecured homeowner loans
For guarantor loans
For Homeowners only For people looking to remortgage or purchase property
  • Our smart loan search does not affect your credit rating
  • It finds the lowest rate loan available to you
  • Secure, two minute application


Who might need a bad credit history loan?

  • I have bad credit
  • I am self employed
  • I am on a low income
  • I am young aged 18, 19, 20 or 21
  • I am a tenant
  • I want a car loan
  • I have a poor credit history
  • Vehicle loan for motorbike or caravan
  • I am renting
  • I am on a blacklist
  • I need immediate fast loan
  • I need money paid in bank today
  • I want a guarantor loan
  • I need a short term loan
  • I need a payday loan
  • I want a low APR interest rate
  • I want a secured homeowner loan

Further Information

Information on business finance for young people: Prince's Trust
Credit Reference Agencies Experian Equifax

Important Information

This is the bottom line. As a company, we only get paid if we successfully get your loan paid out. We will endeavour to find the most suitable loan or plan for your individual circumstances. We will do everything we can to get your loan paid out as quickly as possible.

If you are looking for a new loan to replace other forms of credit, such as credit cards, Hire Purchase or other loans, you are advised that the duration of the new loan will be longer or the total amount payable will be higher than your existing arrangements

Secured Loans: A broker fee of up to 12.5% will be added to secured loans.

We offer loans throughout the UK

Contact us   Terms & conditions

Copyright © 2018. 1st Loan is a trading style of Joel Malach. We are authorised and regulated by the Financial Conduct Authority. Firm registration number 720851. Data Protection Licence Number: Z8904952. Registered Office: Warwick House, Lowes Road, Manchester. BL9 6PJ

1st Loan may receive a fee/commission for either referral or completion of your loan application.
1st Loan is not a lender but a licensed Credit Broker that has access to multiple lenders across the UK. We cannot lend you finance ourselves - only refer you to a lender who can.
1st Loan is an Introducer to Fluent Money for secured loan business

1st Loan is a responsible broker, and as such, would not be able to help if you are looking for us to pay out a loan to someone who is unemployed or receiving benefits as a primary income, who is in financial difficulties or cannot afford to make full loan repayments.
Please see our Responsible Lending Code of Practice for further information or for contact details of organisations who can help people in financial difficulties
Please read our Treating Customers Fairly Policy which shows our commitment to treating our clients fairly and meeting their expectations of high quality service.

Secured Loans

Representative example: Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495). This would result in an overall cost of 9.1% APRC. Minimum Term 12 months. Maximum Term 300 months. Maximum APR charged 49.9%.


Payday Loans

Representative APR Example: 1212% APR variable. £300 borrowed over 30 days would equal total borrowing of £372.

Personal Loans

Rates from 5.7% to 278%. Representative 51.1% APR. Representative example: £2,000 borrowed for 24 months. Total amount repayable is £6,512.44 in 24 monthly instalments of £271.36. Interest charged is £4,512.44, interest rate 112.8% (variable)

Short Term Loans

Rates from 278% to 1576%. Representative 305.9% APR. Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% (variable)

Loans are subject to lenders requirements and approval
Although our lender searches will not affect your credit rating in any way, if you are accepted by a lender, they may carry out a full credit search in order to assess your ability to repay

Where the loan recommended is a Secured Loan, security will be required on your home