Guarantor Loans Made Easy

It is very important before you take out any form of loan of additional credit that you know that you will be able to make the repayments for the full term of the loan. To help you work out what your monthly repayments would be, please have a look at our Loan Calculator. We also suggest that you should take a look also at your current income and expenditure, and click here for an excellent Budget Sheet produced the Citizens Advice Bureau. If you are unsure as to whether the loan you would like is affordable, please speak to:

• The Governments free Money Advice Service
• Your local Citizens advice Bureau

Yes, all our loans can be used to consolidate other debts, but we only suggest that this is a sensible course of action if the new loan is more affordable to you than all the other debts you are consolidating. We always reccomend in these situations that you take independant advice to make sure that a new loan is the best thing for you; free advice can be found at the Governments Money Advice Service and your local Citizens Advice Bureau.

Unfortunately, we cannot guarantee even that if you meet our outline criteria, that your loan application, or the loan amount applied for will be successful. Though typically if you do meet the criteria, with our wide range of lenders, the chances are that you will be able to get a loan. This is why we believe our service is so valuable, saving you the time and effort making numerous applications.

We get loan quotes from the best lenders in the UK, specific criteria is therefore subject to change and may slightly vary, but the following summarising the primary criteria that you will need to meet:

1. Over 18 years of age (max of 65 for loans above £500)
2. Income over £100 per month including benefits (loans over £500 only)
3. UK Resident (excluding Isle of Man)
4. Not insolvent (IVA, Trust Deed or Bankrupt)
5. Have a UK bank account and a debit or credit card
6. Have a friend, colleague or family member with a clean credit rating who can guarantee your loan

1. Good (or marginally imperfect) credit rating
2. Tenant or homeowner (homeowners will help you get loans over £5,000 plus better rates)
3. Income over £400 per month for small £50 to £500 loans, or £500 per month for larger £500 to £10,000 loans.

A guarantor is a friend or family member who is prepared to guarantee your loan and will be expected to make repayments in the event that you are not able for any reason. They will usually need:

• To be at least 18 years of age but under 75
• To be a UK resident, either a homeowner or a tenant
• Have a good credit rating
• Not be financially dependent on the applicant

Very low value loans (up to £500) can often be paid within an hour of your application being approved. Larger loans will usually take around 24 hours from the time you submit a correct fully completed application form to the lender.

While we can’t tell you what to say we would advise you to think very carefully about who you ask and why you need a loan. A friend or family member will be much more willing to help if you are borrowing money for the ‘right’ reasons. If you can show them that the money is important we are sure they will be more willing to help. It is also wise to be able to demonstrate that you are able to afford the repayments and that you will be able to pay off the loan in the agreed time. If you are not certain you can do this you are risking your friendship.

While we cannot make any guarantees as to whether your application will be successful or not we can assure you that our lenders specialise in offering loans to people who have a poor credit history who may not be suitable for traditional lending. They are able to do this because they use the credit history of your guarantor rather than your own so as long as they have a good rating your loan should be approved. Notable exceptions to this would be if:

• You have been declared bankrupt
• You are subject to an IVA or Deed Trust

No! We would never advise anyone to take out a payday loan. They are unbelievably expensive (up to 5000% APR) and you can find yourself in a debt spiral caused by a relatively small loan that gets blown out of all proportion. Our loans are sensible and affordable. The rate is based on what you borrow and the length of time you would like the loan. This is usually around 49% for a loan of more than £750. If your loan is below £750 the rate is significantly higher but there are restrictions on the loan term so you will not find yourself with unrealistic repayments.

No, applying for a loan is free and there is no obligation to accept any of the offers you receive. There are also no early repayment fees so if you find yourself able to clear either part of the loan or repay in full you can do so with no penalties. We take our fees from the lenders so there are no cost implications applying for the loan through us rather than if you were to go to the companies direct. All we do is save you making multiple applications!

Although on our application form we ask what the loan will be used for there are no restrictions. However, we would advise you to think carefully about whether the money is needed for important reasons. Generally these might be:

• A short term solution to unexpected circumstances, usually to last until next payday.
• Car repairs or home maintenance.
• Debt consolidation.

If you are unable to keep up with your repayments, your guarantor will be called upon to make the payments for you. The best thing for you to do as soon as you think that you may have difficulties, is to speak to both the lender, and your guarantor honestly telling them of your situation, and how you are going to get back on track again. In addition, we would suggest that you take independent advice to chat through your personal situation:

• The Governments free Money Advice Service
• Your local Citizens advice Bureau