I am 18, can I get a loan?
To be able to borrow money in the UK, you have to be at least 18 years of age. This is the age at which it is deemed that you are an adult and capable of making informed decisions about your finances. Some direct lenders will not consider young borrowers as they are deemed a risk, but CUJ Loans works with lots of lenders who will. As with all types of credit, the lender needs to be satisfied that you meet their criteria before they approve your application. So you will need to show that you can meet the repayments for the loan.
Loans for 18 years olds questions:
It is a bit of a catch 22 situation for young people to be accepted for credit. Many young people have not missed or been late with repayments but struggle to be approved through no fault of their own. Their situation can be improved through repayment of mobile phone bills etc, who report to credit reference agencies.
All of these things combined can improve an adverse credit rating over time. You can apply to see your credit score by contacting the 3 main credit reference agencies, Experian, Equifax and Call Credit to get a copy of your report.
Try our No Obligation Eligibility Checker
Get your money by
Find out your chances of being approved for a loan, without leaving a footprint on your credit file. Totally free and no obligation to apply.Eligibility Check
I need a loan quickly, can you help?
CUJ Loans has a really quick and easy application process. If you want to apply for an 18-year-old loan today, you can do so online, via your mobile phone, computer or tablet. We will get you an instant decision and if you are approved by a lender, they will pay out your loan in as little as 15 minutes* even if you have bad credit. Working with a marketwide panel of lenders, we are well placed to help most customers find a loan even 18 year olds with no guarantor.