Can I get a loan with a fair credit score?
Yes — you can get a loan with a fair credit score. Fair credit sits in the middle of the scale: you're not seen as the highest risk, but you might not get the lowest rates available. Some lenders will charge more for the added risk. But plenty of options are still open to you — and for homeowners, there may be even more to explore.
5 min read
In a nutshell
- A fair credit score doesn't rule out getting a loan — many lenders will still consider your application
- Your score will look different depending on where you check it, e.g. Equifax, Experian, or TransUnion
- A homeowner loan may be easier to get with fair credit, as your property gives the lender added security
- You can check your eligibility without affecting your credit score by using a soft search tool
What is a fair credit score?
Three credit reference agencies (CRAs) work out your score in the UK: Equifax, Experian, and TransUnion. Each one uses its own scale, so your score will look different depending on which agency you check.
Here's a rough idea of where a fair score sits with each agency:
|
Agency |
Total scale |
Fair range (approx.) |
|
Experian |
0–1,250 |
721–880 |
|
Equifax |
0–1,000 |
439–530 |
|
TransUnion |
0–710 |
566–603 |
These ranges can be updated, so it's worth checking directly with each CRA for the latest figures.
A fair score often reflects a few missed payments in the past, a short credit history, or limited borrowing experience. It doesn't mean you can't borrow — it just means some lenders will look more carefully at your full financial picture.
What loans can I get with fair credit?
More than you might expect. Here are the main types worth knowing about:
- Personal loans — Unsecured loans you can use for almost anything, from home improvements to debt consolidation. Lenders look at your income, outgoings, and credit report.
- Homeowner loans — Secured against your property, these often come with more flexible criteria for people with fair or low credit scores.
- Guarantor loans — A trusted person agrees to cover repayments if you can't, which reduces the risk for the lender.
- Credit union loans — Not-for-profit lenders that tend to look at your wider situation rather than a single number (you usually need to be a member of the union to apply).
Where to get a personal loan with fair credit
High street banks often have stricter criteria and tend to save their best deals for customers with strong credit histories. If you only approach your bank, you might not see all the options available to you.
Online brokers can check across a panel of lenders at once — including specialist lenders who work with people with fair, average, or bad credit. Most offer a soft search to check your eligibility before you commit, which means no negative footprints on your credit report.
Loans for all purposes from £1,000 to £500,000
- Get a decision online
- Know your rate before you apply
- Comparing won't affect your credit score
Intelligent Lending Ltd is a credit broker, working with a panel of lenders. Homeowner loans are secured against your home.
Can I get a home loan with fair credit?
Yes — if you own your home, a homeowner loan (also known as a secured loan) could actually be easier to get than an unsecured personal loan, even with a fair or poor credit score.
That's because a homeowner loan is secured against your property. If you fall behind on repayments, the lender can recover what they're owed through the property. This security acts as a safety net for the lender, which is why they're often more willing to approve people with lower credit scores.
How to check loan eligibility
Use a soft search eligibility checker before you apply. A soft search lets a lender look at your details without leaving a mark on your credit report. You can see how likely you are to be approved without any risk to your score.
If you apply directly without checking first, the lender will carry out a hard search. Multiple hard searches in a short space of time can signal a heavy reliance on credit, which may make future lenders cautious - so it pays to check before you commit.
How can I improve my credit score?
A few consistent habits can make a real difference over time:
- Pay bills and any loan repayments on time, every time
- Keep your credit usage to around 30% or less of your available limit
- Register on the electoral roll — if you're not a UK national, check GOV.UK to see if you're eligible
- Check your credit report regularly and flag any mistakes
- Try not to apply for lots of credit products at the same time
Progress won't happen overnight, but steady habits do add up.
Alternatives to a fair credit loan
A loan isn't always the right option. Here are some other avenues to consider:
- Credit cards — A credit card can work well for smaller or ongoing costs, and some cards are designed for people who are building or repairing their credit score
- Overdrafts — If you have an arranged overdraft with your bank, it can cover short-term costs, though interest charges can add up quickly
- Salary advance schemes — Some employers may let you access part of your wages before payday, which may help for smaller, short-term needs
Where to get free debt advice
If money is tight, there are organisations who offer free, impartial support and can help you consider all your options.
- Citizens Advice — 0800 240 4420
- MoneyHelper — 0800 011 3797
- National Debtline — 0808 808 4000
- StepChange — 0800 138 1111
Disclaimer: We make every effort to ensure content is correct when published. Information on this website doesn't constitute financial advice, and we aren't responsible for the content of any external sites.
