Borrow £3,250 over 36 months at a Representative Rate of 49.9% APR at an annual interest rate of 41.16% (fixed), you pay 36 instalments of £158.57. Total charge of credit is £2,464.57, total amount payable £5,714.67.
👎 No – there are no guaranteed acceptance loans.
👍 Yes – there are bad credit loans with less stringent acceptance criteria.
👎 No – even with a guarantor loan, you are not guaranteed to get accepted.
👍 Yes – there are bad credit loans called guarantor loans, where someone can guarantee your loan.
For the loan types, we list typical acceptance rates
LOWER ACCEPTANCE > MORE AFFORDABLE
AVERAGE ACCEPTANCE > AVERAGE COST
HIGH ACCEPTANCE > MOST EXPENSIVE
We’d suggest trying guarantor first to keep your loan costs to a minimum.
No impact on your credit score, no fees, no obligation
All loan approvals in the UK must be based on the status of the applicant (and if applicable, their guarantor).
When you guarantee a loan, you agree to make the repayments if the borrower defaults.
As a ‘loan guarantor’ you:
When guaranteeing a loan, you can become fully liable for the debt (and get a damaged credit file if there are defaults); you should therefore make yourself fully aware of the implications.
See our Being a Loan Guarantor page.
Guarantor required – you need someone with a clean credit history to guarantee the loan application 🧑🤝🧑
Compared to other poor credit loans, typically:
More affordable credit available to those with a poor credit history 👍
Lenders, unfortunately, do not consider
For more information see page What’s the guarantor loan criteria?
Typically, these will be family members, friends or colleagues, someone close to the borrower 👪
For information see our guide on How to find a guarantor for a loan?
Guarantor loans are a great option
Increase your chance of getting accepted
We summarise three alternative options below 👇
All lenders undertake some form of credit check, to verify
A guarantor loan has a limited number of credit checks on the borrower, and our lenders accept people with loan defaults and CCJs (subject to affordability).
Before looking for a loan it’s always worth getting a copy of your latest credit file 📋
A good company to use as their credit report pulls in information from all the three major credit reference agencies – Experian, Equifax, and Call Credit
Shows you your credit file and what you may need to do to fix it!
Easy access to all the best deals. One simple form to over 35 lenders.
(zero impact on your credit file)
This site is free for you to use – all loans cost the same as if you went to the lender directly.
(we’re paid by the lenders)
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