Who are guarantor loans for?

People with a damaged credit history who may struggle to get a personal loan from their bank, but still looking for: More affordable finance – around 49.9% APR versus 500%+ for other types of adverse credit loan. A larger amount – from £1,000 up to £10,000 vs a max of £2,000 for other types of loan. To repair their credit score, by taking out a loan and paying it back.

How to find a guarantor?

It’s best to first ask close family and friends with a strong credit history, people who know and trust you 🧑🏽🤝🧑🏽 Before you do, it’s worth doing a little bit of preparation, to give them the information they may ask for: Why you need the money – a good reason why you need the amount you need and what it is for You can afford the monthly repayments – the biggest concern they will have is the monthly repayments, that they are not stuck paying these. So, you will need to show them that you can comfortably afford the monthly repayments. Full details about being a guarantor – this can be found on our detailed page Being A Guarantor Guide For more information see: How do you find the perfect guarantor?

How quickly is the money paid out?

The application process is fast, and within twenty-four hours is sometimes possible ⏱️ There is no guarantee that will happen and typical time delays are: Time for the borrower to fully complete their application, and provide the required information to the lender. Time for the borrower to find a guarantor. Time for the guarantor to fully complete their application, and provide the required information to the lender. Once all this is done, it’s possible to get loan funds paid out within twenty-four hours of receiving a fully completed application

Am I guaranteed to get accepted?

No, approval cannot be guaranteed 🤞🏼 Though a high proportion of our lender applicants get accepted. Every lender has its own criteria, and whether they decide to lend to you will depend on your personal situation and the status of you, and your loan guarantor. If you and your guarantor meet the lender’s criteria, then this will greatly increase your chances. Warning: avoid anyone claiming that they guarantee you will be approved, as this is strictly forbidden by the FCA. For more information see here.

Do you do loans without a guarantor?

Yes 👍 We offer many types of loans for people with a bad credit history: Guarantor Doorstep Installment Loan Just fill out our loan application to find the lenders who have pre-approved your application.

My bank has turned me down, can you help?

We cannot guarantee this, but it is possible 👍 Many people who have failed the credit checks for an unsecured loan from their bank have been approved for a guarantor, or another loan via this website (subject to meeting their criteria affordability checks). Whilst there is no guarantee you will be approved, if you apply, you will be shown lenders who have pre-approved your application (with no hard checks on your credit file).

Will I get credit checked?

For getting quotes via this website there will not be a credit check 👍 Some lenders just do a ‘soft search’ and this does not impact your file in any way. When you make a full application and enter your personal details to a lender you will be credit checked, but if you have a poor credit rating that is typically not a problem. Our lenders also consider Your guarantor’s credit file, their financial situation, and income Affordability for the monthly repayment for you and your guarantor Once you are making your monthly loan repayments, these will be recorded on your credit file which will start building up your credit score.

How much can I borrow, and how can I use the money?

Guarantor start from £1,000 and go up to £10,000 👍 So, if you’re after a £1,000, £2,000, £3,000, £5,000, or £10,000 loan, we’ve got you covered. Our lenders understand the many reasons why you may need additional funds Home improvements Holidays Debt consolidation Car maintenance or replacement Emergencies such as unexpected bills, breakdowns, essential purchases, or other emergency situations. Amongst many other things, a concern for the lenders is that you and your guarantor, can comfortably afford the loan payments. So, they will do an affordability assessment, contact the credit reference agencies, and ensure you have a suitable guarantor.

What will be the monthly instalments?

Your monthly repayments are typically worked out from The amount you have borrowed The period of time you have chosen to have the loan The APR (annual percentage rate) This can be estimated on our loan calculator. For your actual monthly loan repayment please contact your chosen lender for details.

Do I, or my guarantor, need to be homeowners?

No, most of our lenders welcome tenants and non-homeowners 🏡 Your guarantor can be a tenant, for the options click here. You can be a tenant or living with your parents. The credit is ‘unsecured’, so is not secured against property.

Do I, or my guarantor, need to be homeowners? What fees and charges are there?

There are no fees or charges for applying This website is free for you to use – we’re paid by the lenders Our lenders do not charge to make an application – interest, fees, and charges only start once you’ve taken out the finance You will not save money by going to a direct lender To get details of the fee charged by your chosen lender Get Quotes

What is the cheapest option?

Starting from 47.8% Representative APR 👍 If you cannot get a guarantor, ‘no guarantor’ options typically start at 69.9% The finance available to you depends on your own personal circumstances. See here a list of the lowest cost guarantor options. Note: you can minimise monthly loan repayments by selecting longer loan terms, see our calculator to estimate this (note however this can increase te total amount you have ot pay back). To find out the options available to you fill out this 3-minute form to get quotes.

Is it safe to use allcreditloans.net?

Yes, we are fully regulated Credit Brokers based in the UK Fully regulated by the Financial Conduct Authority (FCA), Permission Reference Number 715726 Your data is safe as we are Registered with the Information Commissioner’s Office (ICO) ZA535774 We only work with the best UK lenders, who are also FCA and ICO registered. If you are concerned about using any financial firm on the internet, see: Protect yourself from scams by the FCA

What if I make late repayments?

Contact your lenders straight away if you are having financial difficulties ☎️ We only work with responsible lenders, who will always do what they can to assist you if you fall into difficulties: Step 1 – call your lender Step 2 – explain in detail your situation Step 3 – agree on a plan with them that is sustainable for you If after speaking with your lender it becomes clear that you are unable to make the repayments, they will contact your guarantor to take on your loan debts for you.

Can I pay off the loan early?

Most of our lenders do allow over-payments and paying off early without penalty👍 Check precise details with your chosen lender before signing the agreement, to ensure this meets your needs. Contact your lender prior to making the overpayment to discuss the exact arrangements.

Can I change my mind after signing the agreement?

YES 👍 Under the Consumer Credit Act Right to Cancel – you have the right to cancel your loan agreement 14-Days – without having to give a reason within 14 days. This can be done verbally or in writing to the contact details listed on your credit agreement. Repay all money – you will be required to repay any money that you have received from the lender, Pay Interest & Fees – plus all interest and fees that have accumulated since receiving the funds.

Are yours like a payday loan?

NO 👎 Payday are small loans typically up to £1,500 (we do loans up to £10,000) With high-interest rates up to 1,500% Representative APR (our interest rates are typically 49.9%). For short periods of up to 4 weeks only (ours are typically from 6 months to 5 years). For more information see our FAQs Are guarantor loans a payday alternative? What is payday guarantor credit?

See our detailed, FAQ section plus resources on other websites:❔ Resources on other websites Moneyadviceservice.org.uk – Help with credit Stepchange.org – Guarantor debts. How to deal with them Citizensadviceorg.uk – Types of Borrowing – Personal

Guarantor Loans £1,000 to £5,000

Fast Online Loans
Quotes in 2-mins
Poor credit history considered

Great rates from 12.9%
Repay over 12 to 60 months

Representative APR: 79.5% (variable)

Rates from 48.1% APR to 1721% APR. The minimum Loan Term is 1 month. The maximum Loan Term is 36 months. Representative Example: £1,000 borrowed for 18 months. Monthly Repayment of £89.22. The total amount repayable is £1605.96. Interest amounts to £605.96, an annual interest rate of 59.97% (fixed)

*Subject to application being approved by the lender. Not all lenders are able to provide up to £5000 - a guarantor may be required.

FOR £100 – £1,000 LOANS CLICK HERE

one simple form
around 20 lenders
online quotes
no obligation
free service
secure

What is a guarantor loan?

An unsecured personal loan for people with poor credit but supported by a guarantor (typically a family member or friend with a clean credit history & regular income), meaning the loan is often cheaper than other types of ‘bad credit loan’.

Better Rates

**Often the lowest rates* when you have poor credit**

Guarantor: from 47.8%

Doorstep: 535% to 716%

Installment: 529% to 1,314%

Payday: 529% to 1,314%

* Representative APR. For the lowest rates, you need a suitable guarantor

Advantages

Typical Benefits

Larger amounts – from £1,000 up to £5,000*
Longer term – potentially reduce monthly payments by spreading the cost over a longer period, from 12 to 60 months
Lower rates – typically the cheapest ‘loan for bad credit’ with a 47.8% representative APR rates* versus 272% – 1,575% for doorstep and instalment

* Rates and amounts available vary from lender to lender; the rate and amount you are offered will depend on your personal circumstances.

Disadvantages

You need to get a guarantor: someone with clean credit history and regular income to guarantee your loan

Who can be a guarantor? The ideal person is a family member (including spouse), close friend, or colleague who:

Age – is from 18 to 80
Residential status – is a tenant, living with parents or homeowner
Credit Rating – good to marginally imperfect
Income – regular income required (pension acceptable)
Affordability – needs to be able to make the loan repayment if you were unable to

For more information see: Being a Guarantor, what you need to know?

Why use this website?

Helping people compare loan options since 2015.

We even do no guarntor loans!

Fast

Easy access to credit options. One simple form to around 20 lenders.

(zero impact on your credit file)

Free

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)

Safe

We are fully FCA regulated and Information Commission Office registered

(we’re a Surrey-based firm)

Who can get a loan?

Our lenders can help most people who can show affordability for the money they are looking to borrow.

Bad Credit

Missed payments? Have a CCJ? Not a problem 👍

We specialise in affordable options for poor credit.

Unfortunately, our lenders cannot help people who are insolvent.

Tenants

Not owning your own home is not a problem 😊

Our lenders welcome tenants and non-homeowners.

Self-employed

Don’t have 2-3 years accounts? Can’t find affordable credit 🤦

Do not worry, we can help.

We’ve fast, affordable borrowing options for self-employed.

Benefits

On benefits with no employment income? Been turned down for credit 😤

On our panel we have lenders help people on benefits (so long as the repayments are affordable).

We have online options for you.

No Credit

Not borrowed before & have zero credit history? Been refused lending 😣

Our lenders specialise in loans for people with little to no credit history.

Homeowners

Own your own home but have a poor credit score and need a loan?

As a homeowner, our panel of lenders will present many options for you 👍

What can the funds be used for?

So long as your reasons for borrowing are responsible, moral and legal, there are many possible uses for the funds.

Guarantor My Loan | Type: Guarantor

£2,000 to £12,500Borrow
12 to 60 monthsTerm
49.9%Representative APR
4.9 from 557 reviews

Apply Now

Our Most Affordable Loans for Bad Credit

A guarantor loan is a great alternative to traditional borrowing for people who have been refused credit in the past.

Borrow between £1,00 and £5,000 with sensible and affordable rates
Choose your borrowing term from 6 months to 5 years
Fast and secure

By completing one simple form we can have multiple quotes back to you within moments.

Rates are the same as they would be if you approached the lender direct
We’ve saved you the time of duplicating applications
It’s a quick and easy way to find out how much you could borrow

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.

No credit checks for quotes
One form to multiple lenders
No broker or application fees
Secure online application

GET QUOTES

Online Guarantor Loans £1,000 to £5,000

Representative APR: 79.5% (variable)

What is a guarantor loan?

Better Rates

**Often the lowest rates* when you have poor credit**

Advantages

Typical Benefits

Disadvantages

You need to get a guarantor: someone with clean credit history and regular income to guarantee your loan

Why use this website?

Fast

Free

Safe

Who can get a loan?

Bad Credit

Tenants

Self-employed

Benefits

No Credit

Homeowners

What can the funds be used for?

Car

Debt

Emergencies

Home

Business

Guarantor My Loan | Type: Guarantor

Our Most Affordable Loans for Bad Credit

No credit checks for quotes

One form to multiple lenders

No broker or application fees

Secure online application

Top Questions

Common

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What are guarantor loans?