Guarantor Loans from £500 to £15,000
Get quotes in 3-minutes for the loans you’ve been accepted for
Get quotes in 3-minutes for the loans you’ve been accepted for
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Representative Example - If you borrow £2,600 over 36 months at a Representative Rate of 49.7% APR and an annual interest rate of 41% (fixed), you would pay 35 monthly instalments of £126.61 and a final payment of 126.54. The total charge for credit will be £1957.89 and the total amount payable £4557.89.
* Subject to affordability and your credit score
(a guarantor may be required)
A guarantor loan is a great alternative to traditional borrowing for people who have been refused credit in the past.
By completing one simple form we can have multiple quotes back to you within moments.
If you have been turned down for a loan in the past because of your credit rating, this is a sensible alternative to expensive poor credit loan borrowing and is suitable for most people as long as they have a loan guarantor.
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:
The guarantor will be expected to complete details on your application and will therefore need to understand the role that they are agreeing to take on.
This does vary from lender to lender, though typically:
Criteria for your Guarantor is as 1-4 above plus:
Unfortunately, we cannot guarantee even that if you meet the lenders 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.
Whether you have been approached about being a guarantor or you need a guarantor, you will almost certainly have some questions about the process 🤔
On first look it might seem complicated but it’s fairly straightforward.
The role of the guarantor is to make the loan repayments if the borrower is unable.
However, this is usually a ‘worst case scenario’ and steps would be taken in the first instance to try to ensure the payments can be fulfilled by the borrower.
Nevertheless, it is important that it is understood that the guarantor may be expected to clear all the borrower’s debt.
Guarantor Criteria – In most circumstances the criteria required is straightforward
If you have been asked it is reasonable to expect the borrower to give you a breakdown of their income to demonstrate they are able to afford the repayments without stretching themselves financially.
Being a guarantor is a serious undertaking and will have an impact on your relationship with the friend or family member involved. In most cases the borrower is more than aware of this and is much less likely to default on payments as a result; no one wants to ruin a good friendship.
If the worst happens and you are required to make some repayments or clear the loan itself this will not affect your credit rating so long as you do not default on the payment. The lender will advise you as soon as possible if a payment has been missed.
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’re able to do this because they use the credit history of your guarantor rather than your own.
So as long as your guarantor have a good rating and good affordability, there is a good chance your loan will be approved. Notable exceptions to this would be if:
Although on our application form we ask the loan purpose, there are no restrictions (except for illegal or immoral purposes) 👍
However, we would advise you to think carefully about whether the money is needed for important reasons.
Generally these might be:
We would urge you to remember that you are asking a big favour of your friend or family member to back your loan so you will need to demonstrate to them how seriously you have taken this decision.
No one will guarantee to lend your money without knowing your personal circumstances, so you cannot get a guaranteed loan 👎.
This is completely different to loan application success in some way being guaranteed, which it is not.
Guarantor loans are available to people who do not own their own home 👍
If you do not own a home this is not a problem, we’ve lenders who can help, even if you are:
All our loans are unsecured, so property is not used as security, instead your guarantor is.
Your guarantor does not need to own their home either, we also have lender who accept tenant guarantors.
Typically, however, some of the lower rates are for homeowner guarantors.
On the surface it might seem that they are all broadly similar but there are actually quite a few differences you should be aware of when you compare guarantor loans. Our lender compare table will give you a quick overview of the headline figures but here are a few things to look out for:
To find out more about how much you can borrow why not fill in our online form and our lenders will have their offers back to you within minutes.
While we cannot tell you what to say, we would suggest you think very carefully about who you ask and why you need a loan.
If you are not certain you can do this, you are risking your friendship.
Our guarantor loans can be used to consolidate other debt.
However, 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.
In these situations that you should 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.
It may be easier, but would it be the right things to do 🙄
We would never suggest anyone take out a payday loan, unless there are no other options.
They are very expensive (can be up to 1,575% APR) and you can find yourself in a debt spiral caused by a relatively small loan that gets blown out of all proportion.
We have worked hard to research the market to find a range of the best guarantor loan lenders we can who offer fair and affordable loans to those unsuitable for conventional lending.
So, the best way to choose, is to fill out our 3-minute application process to find the loan options available to you.
It’s 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.
We suggest taking 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:
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:
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