Lowest Rate Guarantor Loans

By completing our 2-minute form you’ll get an instant option from a lender who will consider your application.

For a detailed breakdown of all costs, the lender will provide this (the amount you’ll pay will depend on your personal circumstances).

For a rough estimation of loan, costs see our loan calculator.

They are typically the most affordable loan for those with a poor credit history 😀

• Representative APRs are typically 29.9% - 54.9% - so usually much cheaper than payday, instalment, and doorstep loans.
• They’re cheaper as you need to find a friend or family member with a clean credit history - to back your loan application.

If you cannot get a loan backer, we also do 'no guarantor loans'.

Turned down by a high street bank 🤔

Many people start their loan search with the frustration of being turned down by high street lenders (who do not lend to people with a poor credit score!)

• Alternative specialist lenders - a new breed of lenders now service the poor credit market, companies that many people have not heard of.
• We can help - we set up this website to make this search much easier for you.
• Quickly find affordable loans - fill out this 2-minute form, we will contact around 20 lenders, and get back to you with quotes.

YES 🤔

• If you have checked your credit file and have a good credit history - you could go to a well-known compare loan website to see if you meet their lender's criteria.
• We are not your best option if you have a clean credit history.

We suggest that you don’t send off loan applications unless you’re sure you meet the criteria, as failed loan applications can affect your credit file.

The other main types are payday, instalment, and doorstep

• Payday - very short-term loans typically between £100 - £1,000 for up to four weeks (to your next payday) with rates up to about 1,314% APR.
• Instalment - small loans typically between £100 and £2,000 taken over 2 to 24 months, with rates typically from 529% to 1,314% APR.
• Doorstep - small loans where the lender’s agent collects weekly payments from your house from between £100 and £1,500 over 3 to 12 months, with rates typically from 535% to 716% APR.

No guarantor loans are typically more expensive because:

• No guarantor - they do not have someone with a clean credit history guaranteeing the loan repayments.
• Higher Defaults - typically more people default when they do not have a guarantor, so the lender must recoup this with higher interest charges to all borrowers.

Certainly

• What is a guarantor loan - click here
• What's the guarantor loan criteria - click here

Also, see our extensive FAQ Section

Main implications:

• Legal liability – will assume joint legal liability of the debt along with the borrower, and all that being legally liable for a debt entails.
• Make re-payments – if the borrower defaults, the guarantor will be required to make the monthly repayments on their behalf.
• Credit file – if the guarantor does not make the repayments, this will be shown as a default on their credit file.

It's because of this arrangement, that the guarantor loan is the lowest cost bad credit loans

• For more information see our detailed page: Being a guarantor
• For help in finding a guarantor, click here.

If you have more questions, see our FAQ section.

• Or see How to get the best personal loan deal on the Money Advice Service website.