Loans for Young People

If you have been refused credit by your bank or a high street lender,
don't worry, there are still options for you.

How much would you like to borrow?

Our quotes won't affect your credit score


Representative Example: Borrowing £3,000 over 24 months at an interest rate of 71.3% p.a. (fixed), you will repay 24 monthly payments of £237.75 per month. Interest Payable £2,706. Total Repayable £5,706. Representative 99.9% APR.

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The number of young adults that return to live with their parents after starting work has risen sharply over the years.

In the modern world, it’s challenging to find the funds to live a normal life while renting outside of the family. There are bills to pay, and they need to be paid on time. Everyday Loans is here to help with loans for young people.

You do not need to be a homeowner. All you need to be considered is to be over 18 years old, have a steady income and a credit history.

How it all works

With everyday loans, you're more than just your credit score. Here at everyday we look at your credit future, not just your credit history. As such even if you have bad credit now or you've had a poor credit score in the past, we may be able to help.

There are 3 simple steps to taking out an everyday loans loan. All of our loans are subject to status and affordability.

  • Step 1

    Step 1

    Complete our short
    application form

  • Step 2

    Step 2

    Get an initial decision
    in minutes

  • Step 3

    Step 3

    Pop into your local branch
    to complete your loan

Why choose everyday loans?

  • Applying with us won't affect your credit score. We use Soft Searching Technology which means even if you're unsuccessful; it won't go against your credit file.
  • We offer loans to those with a less than perfect credit score. You'll need to be over 18, a UK resident and be able to afford repayments.
  • We're a direct lender not a broker. We'll NEVER charge you a fee to consider your application.
  • We'll give you a conditional decision in just minutes.
  • You can borrow from £1,000 up to £15,000 over 18 to 60 months, for almost any purpose. Loans not for business, gambling or illegal purposes. Max APR 299%
Start Your Application

With extremely high property prices and mortgages for first-time buyers growing more difficult to obtain, becoming a homeowner in Britain is not easy. More now than ever, couples and individuals are turning to renting as a means to get around this financial barrier.

This is a disadvantage for anyone that wants to get credit and improve their credit score – something the majority of young people are working towards as they grow older. Because some lenders are not prepared to offer loans to tenants and people living with parents, the financial support young people need can be hard or impossible to get.

For many in that situation, the story is the same when it comes to lenders; they view them differently and you often have to be a homeowner to be considered for a loan. That’s something a young person can’t possibly afford for some time to come.

However, it’s not all doom and gloom. We see this same story every month of each year, and that’s why specialist lenders like Everyday Loans offer any purpose loans to people with bad credit, and loans for young people living with parents or in rented accommodation. We’re different from other lenders, and we could support you with a loan to suit your needs and a fairer set of requirements in order to be accepted.

We make use of our “Soft Search” technology that means that when you apply, your credit score as it is won’t be affected if you are declined. There’s no worrying about clicking the button on an application with us, and that’s one less thing to worry about.

We ask for you to demonstrate a reliable income so that we can be confident of your capability to repay your loan. Once details are given that shows that you keep up with your payments most of the time your loan may be accepted within minutes once other criteria are checked and met.

Unsecured loans are available for almost any purpose, whether it's for a car, wedding or to consolidate credit and store cards. A loan from Everyday Loans could be the key to unlocking short-term financial power, letting you invest in your future and take care of your day-to-day needs effectively.

Important information about loans for young people

Taking a loan isn’t just for the older adult. We have come to appreciate over the years that many young adults have a legitimate need for a loan, and we feel it is our duty to help support such young people with access to the credit they need, when they need it.

In this section we’ll be offering a quick run-down of important information and frequently asked questions relating to this subject.

  • Q1: What does the phrase ‘APR’ mean?

    It stands for annual percentage rate. It’s the term for how much money a young person will pay in full over the course of their loan, and it’s determined using what is called compound interest. To make things easier to understand, we offer the help of our advisors in our local branches to break down for you how much you will pay when you take a loan with us. It’s minimal jargon and easy to grasp – just how it should be.

  • Q2: I’m not very familiar with taking a loan. How does it work?

    Taking a loan with us is straightforward. We take your application with your personal details and use our tailored systems to review your credit score and other information. We generally look upon these details more favourably than other lenders who might have refused you, so it’s a great option if you have a need for credit but are struggling to get it.

  • Q3: I’ve heard my credit score might go up if I take a loan, is that true?

    This is a common belief, and it’s partly true. The most important thing you should know here is that a young person’s (or adults!) credit score will benefit from a loan, but only when you have successfully made your repayments. That shows reliability and responsibility, and a boost to your score is allocated accordingly. At the time of application and acceptance, however, you have not demonstrated this reliability and will not receive any benefit to your score.

  • Q4: Is my record marked when I apply?

    This depends entirely on how the lender processes your loan, and what technology they use during their own processes. It’s the same for young people taking a loan as it is older individuals. Everyday Loans is proud to use Soft Search technology that means that we put no mark whatsoever on your record when you apply. This isn’t always the case with other lenders, so it pays to clarify and be careful and informed. It’s particularly important to be aware that making lots of applications in a short period can be seen as suspicious by lenders – they may be less likely to accept an application from you if you’ve done this recently.

Our Process FAQs

Many of our customers ask the same questions about their loans, so we’ll be covering the common ones right here.

  • Q1: I need my loan quickly, is that possible?

    We’ve put in a lot of work to make our process quick for you. Applying online is followed by a conditional approval (the same for an applicant of any age), which is a cue for your application to be handled thereafter by your most local branch and advisor. Once that conditional approval is sent to them, they’ll get in touch with you to work out a meeting date that works for you. That’s where you will go over details like APR and the finalising details. You’ll have your credit sent to your account shortly after.

  • Q2: Can you tell me what specific requirements for a loan you have, if any?

    It’s true that we are a little more lenient towards those with poor credit scores than others, but we still have a set of basic requirements for you to meet for us to consider your application. You must be a UK citizen, you must have a bank account in the UK and you must be employed. That’s it. The same requirements apply to a young person desiring a loan as they do an older individual.

  • Q3: I’d like to check whether Everyday Loans are direct lenders. Is that right?

    Everyday Loans is dedicated to helping people who have poor credit scores but a legitimate need for a loan. We are a direct lender, and we have our HQ located in Bourne End, Buckinghamshire. Enquire today to learn how we can help!

We do not charge any fees.

Everyday Loans is a trading style of Everyday Lending Limited (Company registration no. 5850869, England & Wales).

Registered Office and Trading Address: Secure Trust House, Boston Drive, Bourne End, Buckinghamshire, SL8 5YS.

Everyday Lending Limited (Firm Reference No. 724445) is authorised and regulated by the Financial Conduct Authority.

Everyday Lending Limited is a member of the Finance and Leasing Association and as a member, we follow its Lending Code.