Getting fast decisions for £800 loans can be helpful when juggling unexpected bills, such as rent arrears, medical expenses, or insurance excess payments.
These financial surprises often require quick access to funds to prevent further complications. With flexible repayment options, an £800 loan allows you to address these urgent needs without overwhelming your budget.
There are Several Ways to Borrow £800
The main difference among the types of loans avaialable are how long the repayment terms are.
- Short-Term Loans
Short-term loans can be ideal for unexpected, one-off expenses like rent arrears or medical bills, letting spread the repayments typically from 3 to 6 months, making it easier to manage over time.
- Instalment Loans
If you need more time to repay the loan, instalment loans let you spread the payments over a longer period, such as 6 to 12 months. This is a good option for those managing multiple financial commitments.
- Guarantor Loans
For individuals with very bad credit, a guarantor loan can be helpful. With this, instead of applying based on your own credit history and affordablity, you apply with someone else willing to guarantee the repayments in the event that you can’t.
What Can a £800 Loan Be Used For?
£800 loan is versatile so it can help cover a range of unexpected bills or emergency costs.
Here are a few examples of common expenses:
- Rent Arrears Due to Housing Benefit Lapses
Rent arrears can happen unexpectedly, particularly if there’s a lapse or delay in receiving housing benefit payments. A £800 loan can help you get back on track with rent payments, ensuring you don’t fall too far behind. It’s important to ensure that future rent, along with the loan repayments, will be affordable going forward.
- Physiotherapy After a Sports Injury
Recovering from a sports injury, whether sustained in the gym or elsewhere, often requires physiotherapy. Private treatment sessions with a sports therapist can quickly add up, with costs reaching £800 or more depending on the severity of the injury and the number of sessions needed. A loan can cover these treatment costs, allowing you to focus on recovery.
- Insurance Excess Payments
Many people opt for lower monthly payments on car, home, health, or pet insurance by increasing their excess (the amount you pay out of pocket before your insurer covers the rest). However, when it comes time to file a claim, you could find yourself needing to pay £800 or more for the excess. A £800 loan can help cover the cost of the excess, allowing you to make the necessary repairs or replacements without delay.
What to Do before Applying for a £800 Loan
Applying online is the fastest way to get a decision. To stand the best chance of the lenders decision being in your favour, it’s crucial to do due diligence.
- Review the lending criteria
Every loan company has a list of eligibility requirements. These will state the minimum age applicants need to be, any minimum income levels required, and whether or not they accect applications from people on benefits, those who are self-employed, or those perhaps working on zero-hour contracts.
If you don’t meet the eligibility criteria, it’ll be difficult to have your loan approved as it could be rejected.
2. Prepare your documents ahead of starting an online application
You’ll typically need to provide:
- Proof of identification (e.g., passport or driving licence)
- Recent bank statements
- Income verification (whether from employment, self-employment, or benefits)
Either scanned copies, clear photographs of paper documents, or download PDF attachments from online accounts in preparation for uploading during the application process.
3. Complete the application carefully
When completing the application online, be careful of misspellings, or accidentally typing a wrong figure.
All the pertinent information you provide like your name, address, and income details may be verified with 3rd parties, such as checking your name and address against the Electoral Roll. If anything is misspelled, it could lead to a loan refusal.
Once your application is submitted, you’ll usually get a fast decision of a loan offer to review and approve if you’re happy with it. Have a read through the Key Facts Illustration that has the interest rates, any applicable fees, and if you’re happy, accept the terms, and await funding. Fast loans are usually paid either the same day, or within 24 to 48 hours of a loan approval.
FAQs
Can I get a £800 loan if I have bad credit?
Yes, many lenders offer guarantor loans or short-term loans for individuals with bad credit. As long as you can show you can afford the repayments, approval is possible.
How quickly can I get a £800 loan?
Many lenders offer same-day approval, with funds typically available within 24 hours of approval.
What is the easiest loan to get with bad credit?
Guarantor loans can have higher approval rates when the co-signer has a good credit score and can meet the affordability requirements.
