While young, you may face financial obstacles like updating credit cards, repairing the car, and financing small educational needs. You have savings or your parents may fund your needs, but there is still a better alternative too. We provide loans for young people to those between 17 and 25 years. You can get £1000-£5000 repayable over 12-60 months with the freedom to choose your repayment tenure and reschedule if needed.
These are the short-term loans ideal for covering the small financial expenses. You do not need not to worry about the interest rates because we keep them competitive as much as we can. However, it would be best if you utilise these loans for small expenses and plans.
You can top-up these loans if the amount does not suffice. Get one if you reside in the UK and have stable income proof. You can provide an employment letter, scholarship, part-time income proof, etc., to get young people loans in the UK with us. You may qualify if you earn £400/month. Non-earning individuals can qualify with a co-signer on the funds.
At Everydayfunding, you are away from unnecessary paperwork and legwork. You need to sit online and just fill out one-page application form only. We have digitalised our lending procedure and as a result, you can feel assured with instant loan approval and same day funding.
Representative Example
Borrowing £2,500 over 24 months at Representative 49.9% APR and Interest rate 49.9% p.a. (fixed) with monthly repayments of £166.64 and a total amount payable of £3999.26. All our loans terms from 6 to 36 months.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk
Loans for young people are specialised personal loans that young person use to apply. These individuals have started college and are pursuing graduate courses to upgrade their skills. During this, they need substantial funds to fulfil their financial needs too. It is where these loans come into the picture.
These unsecured loans are for individuals with no or limited credit history. It helps them to get a small sum to fund their instant requirements. You may qualify for loans for young people in the UK if the income suffices the money requirement.
Jobless or studying individuals can also apply. These are also known as loans for the unemployed because most lack income at a tender age. We do not mandate or rely solely on credit scores. Instead, we analyse your circumstances, income capabilities, and purpose to offer an affordable amount.
You get the young person loan immediately by choosing the apt amount up to £5000 and repayment structure. The interest rates on the loans are competitive. If you manage your loan well or pre-pay the amount, you may cut the impact of interest rates, as we allow prepayment on these loans.
You can use these loans for any small purpose or a financial emergency. We have made applications available online with no documentation to follow.
There are multiple uses of the loan for 18 and above. We receive applications stating the smallest to most exciting needs. Desires or needs may vary, but you should know that we are quite determined to offer only affordable options. Therefore, it is crucial to analyse your current financial scenario and affordability.
Here are some purposes you can use the loan:
Clearing credit card debts
You are young, and you must be fond of shopping. You do not hesitate to use your credit card while shopping without worrying about its bill. Whether you are 18 or 21, you must have a long series of pending credit card debts. You can use the loan to pay these off and clear your debt. Paying your credit card debts in full help you improve your credit score.
Fund your start-up’s needs
Most individuals in the UK apply for loans for 17 years old to meet the start-up requirements. These funds can help if you are self-employed or considering starting your start-up on a good note. You can use it for initial operational set-up, funding equipment purchase, and marketing your business idea. Remember, you must have something to repay the loan.
Repairing the car or pay the car rental
If you have a car of your own and lack a way to finance its immediate repairs, the young person loan can help. You can use a part and bridge the rest with your part-time income or full-time salary. If unemployed, you can leverage it with a scholarship or a sponsored benefit you have. We provide multiple scopes to qualify with bad credit and no relevant income base.
We provide seamless and hassle-free loans for those under 18. If it is your first time, you must prepare yourself. We have simplified things to ensure loan approval on the very first attempt. Our easy loan deals are there, but it does not mean that you do not need to do anything.
Preparing for loans is vital. Therefore, we have explained some crucial points for you as a responsible lender. Check here:
Analyse your requirements
It is critical to know whether you will get the loan or not. You can use the loan calculator to know the total costs you would pay. We provide you with a loan calculator to calculate interest rates, APR, and total repayments as per the loan amount and term. You can shift the scale as per your needs and borrow right.
b) Analyse the eligibility criteria deeply
We have simple criteria for you to qualify with ease. Yes, we provide loans for those under 21, but you can apply if you are aged between 21 and 25.
| Loans for 18 years old | Can provide part-time income proof, credit report, and a guarantor if you lack income |
| Loans for 17 years old individuals | Provide a part-time income proof. If you lack it, apply with a guarantor or co-sign the loan. |
| Loans for individuals aged 19-25 | Provide a part-time/full-time income proof, self-employed assessment or invoices, credit history with stable finances |
You get the loan if you meet the criteria as per age.
Additional and unnecessary loan costs
If you are applying for the first time, you must check the costs associated with the loan. With us, you can avoid unnecessary charges like- prepayment loan fees or hidden costs. By paying the loan early, you can save money on interest costs.
Before applying, analyse costs like loan fees, loan establishment costs, APR, and interest rates.
We understand youngsters lack time and need cash immediately. It is especially true for individuals applying for loans for 17-year-olds in the UK marketplace. Skip the long information filing and any detailed credit checks. You will receive the desired amount in your account within 15 minutes of applying.
| Step 1 | Click apply and mention the amount you want to borrow |
| Step 2 |
Provide personal details:
|
| Step 3 | Read the terms carefully and apply |
| Step 4 | We will analyse your application and ask for income and ID proof (driving license/ ID card/) |
| Step 5 | Get cash in your account swiftly after approval |
We keep the best interests of our customers at the centre of providing loans for 17-year-olds in the UK. Whether you are new to the loan or an experienced one, we help you with personalised suggestions and advice.
If you are a first-time loan applicant, here is why “us”:
Are you going to apply for first-time loans, or have you already applied? It is of no relevance because we help you in every possible way.
Here are some general queries that our customers share. These may help you get clarity about the loans.
Here are some ways that an 18+ can get guaranteed approval on their loan:
As you are 18+, you may be eligible for a few loans. These are:
Well, that entirely depends on how well you manage the repayments. You must identify the need before applying. Do not apply until you have no option to bridge the cash need.
While applying, borrow only the amount that you can repay comfortably. Calculate interest rates and other costs (if any) to borrow right. If you make disciplined payments as per the loan schedule, credit improves. On the contrary, if you miss a few payments or default, your credit score drops.
At Everydayfunding, individuals aged 17 can apply for loans for young people. However, you may be restricted to only emergency loans. To get loans like student loans, car loans, or mortgage loans, you can get it with a guarantor to qualify.
Individuals aged 21 and above can qualify for personal loans like- payday loans, unsecured business loans, and unemployed loans, revealing the best affordability parameters in the form of regular income.
We analyse a few parameters while screening the loan application of 18+. We understand that you may have urgent requirements and ensure lenient application screening. We look for the parameters like credit score, payment history, and income. The below aspects that may lead to loan rejection:
