Emergency Loans

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An emergency loan is sometimes necessary, especially if you need to access money quickly. Unfortunately, loans that offer fast access to large sums of money often have a bad reputation, as they can come with extensive interest rates and strict payment terms.

  • Simple, easy application
  • Whatever your credit history, we can help
  • Includes a free property valuation
  • No upfront fees or hidden charges
  • 5-star customer service
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Are you a homeowner or a tenant?

Borrow now and pay it back later with no worries

An emergency loan is sometimes necessary, especially if you need to access money quickly. Unfortunately, loans that offer fast access to large sums of money often have a bad reputation, as they can come with extensive interest rates and strict payment terms.

At Believe Loans, we give you access to reputable lenders – specialist loan providers who provide emergency loans, without any of the sharking. We’ll help you get an emergency loan that solves a short-term problem and doesn’t create more issues.

What is an emergency loan?

Emergency loans are short-term borrowing agreements that allow borrowers access to funds they don’t have. For example, a kitchen appliance could break and you have to replace it, or you might need to pay for emergency home or car repairs, but you don’t have the cash to do it.

The benefits of these loans is they give you quick cash when you’re having financial difficulties – instead of waiting for ages to receive the money. And no, these aren’t a payday loan.

An emergency loan isn’t a payday loan

Many people classify emergency loans as payday loans because they give borrowers quick access to money and come with fast repayment terms. But we don’t touch payday loans; instead we broker short-term unsecured loans that offer borrowers more flexibility and security.

Believe Loans is a reputable broker that doesn’t deal in payday loans. Here’s why.

The destructive cycle

If you’ve ever seen an advert for payday loans, you’ll know they seem like an attractive offer, but people rarely understand what they actually agree to. With excessive interest rates and incredibly short repayment terms, these emergency cash loans often lead to a destructive cycle of borrowing.

When it comes time to pay off the current loan, borrowers can quickly discover their only choice might be to take out a new payday loan, and thus the cycle continues.

High late fees

In the past, payday lenders could charge excessive interest, and some people would end up paying double what they borrowed. However, the Financial Conduct Authority recently changed the rules to lower the fees associated with late payments.

Despite these new rules, people can still get into trouble if they can’t meet their monthly repayment obligations. And if you fail to make repayments, your credit score is damaged.

You’ll pay more interest if you have a low credit score

Many payday lenders will offer money to people with bad credit because they can introduce a higher interest rate to the loan. Meaning not only do you have to repay the money you borrow, but you have to factor in a ridiculously high interest repayment too. Putting you in a much worse financial situation in the long run.

While the interest rates are capped at 0.8% a day, the payment amounts can still be challenging for people with financial difficulties.

Different types of emergency cash loan options

Luckily, plenty of emergency loan types offer more security than a payday loan, and most come with better interest rates. Your choice should depend on your circumstances, but our brokers can help you decide.

Personal loans

Also known as unsecured loans, this form of borrowing allows people to borrow up to £25,000 over a short period of time. They differ from secured loans as borrowers don’t have to offer up any collateral, but this also means you can’t borrow as much money – or pay it back over several long years.


  • Zero collateral: Secured loans often offer larger amounts, however to access it, lenders require people to offer up a valuable asset (usually a property) as collateral. These requirements aren’t in place when taking out unsecured loans.
  • More security: Most personal loans have strict terms in place, but this is also beneficial for borrowers as they know exactly what they’re getting into.
  • Borrow higher amounts: Unsecured loans are great if you want to borrow more money than your credit card allows.


  • Credit score: The main downside of unsecured loans is your application depends on the results of your lender’s credit and affordability checks. Lenders are hesitant to offer money to people who don’t meet the eligibility criteria, so you have to have a good credit score to make the numbers work for you.
  • Short repayments: While most unsecured loans have repayment periods that last longer than six months, you’ll still have to repay what you borrow relatively quickly.
  • Penalties: If you default on your repayments, your lender could call bailiffs to recover the outstanding amount in valuable goods. In severe cases, you could also find yourself in court.

Poor credit loans

A poor credit loan helps people borrow money, even with a low credit score or no prior credit history. These loans often cover major expenses like paying off bills, purchasing a car, or making home improvements.

Typically, lenders offering these types of loans assess the borrower’s affordability rather than relying solely on the borrower’s past credit history. So, you could still borrow more if you have a regular income, whereas most lenders focus on an applicant’s credit score.


  • Less worrying: All lenders perform credit checks to see whether an applicant is viable, but bad credit loans are more about your monthly income than you credit history. The more disposable cash you have each month, the higher your loan amount could be.
  • Boost your credit score: A poor credit record can impact your ability to get a mortgage or new car, but when you take out a bad credit loan and make regular repayments, you’ll be able to build your credit file up, giving you access to more lenders in the future.
  • Numerous lenders: Many lenders offer bad credit loans, and peer-to-peer lending apps continue to grow in popularity. If you can prove a good monthly income, you should be able to choose from a range of loan providers.


  • You might borrow more: As these loans depend on your income, some lenders allow you to borrow larger amounts. If you get carried away, you could borrow more than you need – and can’t repay.
  • Hefty penalties: Many lenders will also have significant penalties to ensure people don’t default on their monthly repayments. It’s essential to check the terms before signing any agreement.

Guarantor loans

A guarantor loan is a type of loan that relies on the guarantee of another individual or legal entity, who is referred to as the guarantor. Lenders offer this kind of loan when a person might have poor credit or is on a low income.

Lenders will assess the guarantor’s income and credit report to ensure they can pay the loan back should the borrower default on repayments.


  • Secure your debt: Even if you pass a credit check, you can still use this type of loan to secure your borrowing. Lenders like having security, so offering a guarantor gives you access to a higher amount.
  • Lenders assess your guarantor: As lenders have a guarantor to take responsibility for the loan, you don’t need an excellent credit score. The amount you borrow depends on what your guarantor agrees to.


  • You have to find a guarantor: Most people will rely on family members to act as guarantors, but some people will naturally be wary of it, as they’ll take on the responsibility for your loan.
  • Defaulting can impact all involved: If you meet your repayments, you can build your credit score. However, when a guarantor defaults on the loan term, it affects both parties and can make borrowing money harder in the future.

Things to consider before taking out an emergency loan

If you’re interested in taking out an emergency loan, it’s important to consider which type is right for you and whether you can afford the repayments. With numerous options out there, the following factors will help you narrow down your search.

Will you pass the affordability checks?

All lenders carry out affordability checks to see if applicants can meet their repayment obligations. If you don’t have a regular income going into a UK bank account, you might find the only way to get a loan is through a guarantor.

Are there hidden fees?

Another critical factor to consider is whether the lender charges late repayment fees. Missing payments often means consequences with short-term loans, so assessing whether you can stay on track with the schedule is essential.

Is there a simpler alternative?

Some people find that they only need to borrow a small sum of money, so they can go through their credit card or use a bank overdraft. However, if you exceed your agreed overdraft or have a high-interest credit card, it might be better to get an emergency loan.

Apply for an emergency loan with Believe Money

At Believe Money, we specialise in brokering our clients the best loan agreement that suits their financial history and current needs. As professional brokers, we work differently than lenders because our job is to search our network of loan providers and match you with the right one.

When you choose us, you can expect a fully professional service with plenty of lending options. Here’s what we offer.

More options than direct lenders

Most people look for loans online or see an advert on TV. While these lenders can be great options, they’re often mainstream providers with set eligibility criteria. We have a range of specialist lenders available who offer customised agreements.

This means that the lender judges you individually, improving your chances of finding a loan tailored to your needs.

Protect your bank account

Some brokers charge upfront fees, which isn’t ideal if you’re trying to access emergency funds. There are no outright payments with us, as we add our small fees onto your loan agreement.

The main benefit is that you get access to more favourable loan terms and don’t have to budget for our service in advance, while taking advantage of cost savings.

We’re an award-winning broker

We commit ourselves fully to customer service and go out of our way to find each client a loan provider that benefits their financial future – and doesn’t impact it. Our specialist service has won awards, and we continue to diversify our database of lenders.

Get a free consultation today

If you’d like to discuss your loan options, our friendly team of specialists would love to help you. Don’t hesitate to contact us for a free consultation today. We’ll learn more about your borrowing needs and discuss your options.

Working with us gives you access to specialist lenders and a brighter financial future. We look forward to hearing from you.

Why Use Believe Money?

Believe Money is an award-winning finance broker dedicated to offering the best range of affordable loan options. Whatever your circumstances or credit rating, we’re committed to getting you the best secured loan interest rates by searching our entire panel of secured loan providers.

Whatever you need a secured loan for, we’re here to help. Our specialist advisors are available Monday to Friday, so if you need any help please contact us online or give us a call on 01302 591 360.

How It works

Step 1.

Simple, easy application

Step 2.

We search our panel of lenders to find the deal that’s right for you

Step 3.

When you confirm your chosen deal, we get your application moving

Step 4.

The money lands in your bank
account – usually within two weeks

We compare loans from our panel of the UK’s top lenders to get you the best deal.


Contact Us

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Friday 9am – 3pm

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01302 591 360